Director of Risk Management, Insurance and 3rd Party Liability

Location
Washington D.C
Posted
Jan 19, 2021
Closes
Jan 29, 2021
Ref
210051
Function
Executive, Director
Hours
Full Time
Metro is seeking a Director of Risk Management, Insurance and 3rd Party Liability to support the Vice President and Treasurer. This person will direct, lead and supervise the RISK staff in performing their day to day responsibilities for a large multi-layered transportation authority. The ideal candidate will be able to successfully multi-task several projects including creating new ways to reduce RISK exposures while maximizing the value of our premiums paid for numerous traditional corporate insurance policies as well as a blanket railroad liability insurance program. The successful candidate will be a technological innovator and be able to master our RMIS system (Origami) quickly along with adopting and introducing best practices for information reporting and RISK analysis. A major responsibility of this position is to manage a team of 3rd party adjusters and managers who settle claims and seek recoveries from 3rd parties. The Director manages the insurance broker relationships and leads the team who handle the insurance aspects of all Metro contracts.

Minimum Qualifications

Education
  • Bachelor's degree in Finance, Insurance, Accounting, Business Administration or related field

Experience
  • Minimum ten (10) years' experience in Risk Management and/or Insurance

Certification/Licensure
  • N/A

Preferred
  • Master's degree in Finance, Insurance, Accounting, Business Administration or related field
  • Chartered Property Casualty Underwriter (CPCU®), Associate in Risk Management (ARM) certification

Medical Group

Satisfactorily complete the medical examination for this position, if required. The incumbent must be able to perform the essential functions of this position either with or without reasonable accommodations.

Job Summary

The Director of Risk, Insurance Policies and 3rd Party Liability is responsible for managing: third party bodily injury and/or property damage, damage to or theft of Washington Metropolitan Area Transit Authority (WMATA)'s property, commercial insurance policy procurement, claims management, policy administration and contract compliance. The incumbent is responsible for the protection of WMATA's assets using risk treatment techniques which can include but are not limited to risk identification, risk apportionment, and risk financing. The scope also includes reviewing and approving insurance and liability areas of WMATA potential contracts for the procurement of goods and services and capital projects. The incumbent develops, implements, coordinates and monitors insurance and self-insurance programs as required by WMATA's operations and construction elements. Prepares insurance reports for the Board of Directors (BOD) as determined by Treasurer (TRES) and Executive Vice-President/Chief Financial Officer (EVP/CFO).

Essential Functions
  • Manages responsibility for the procurement of all non-health and welfare insurance policies for the Authority. Key responsibility is to ensure policies purchased, covers prudent risk exposure levels for Authority. Serves as market expert on risk strategies, premium expense and allocation decision making, and safeguarding reasonable asset replacement values for the Authority to recover from all scopes of property and liability losses.
  • Oversees 3rd party liability strategy, budget, legal relations, claims, audits, and work flow matrix. Ensures 3rd party program stays and operates within periodic 3rd party audit guidelines and findings. Manages team of 3rd party managers and supervisors to bring them to and then maintain industry best practices by utilizing the RMIS system to its fullest potential
  • Works closely with Director of Office of Risk Management (RISK), Construction on any OCIP (Owner Controlled Insurance Programs) and Contractor Controlled Insurance Programs (CCIP) should WMATA place such programs on major construction projects. Must be able discern the appropriate risk management strategies for WMATA's large scale construction programs on an ongoing basis. Projects are analyzed for various program coverage limits and adherence to building specs and standards set forth by current WMATA insurance carriers on all types of programs.
  • Requires extensive hands on interactions with staff (managers, supervisors, adjusters, technicians) at all levels. 3rd party staffing is subject to claim volumes and trends in new or complex claim types. Ensures claims are tracked for frequency, types, monetary amounts, legal ramifications, and potential liabilities.
  • Manages policies by state or region as required to comply with various distinct requirements from each insured area such as pollution coverage in Montgomery County, Maryland versus hazardous waste insurance compliance in Alexandria, Virginia.
  • Interfaces with insurance broker(s) on insurance market conditions and new insurance products and analyzes the potential impact to the existing operating insurance program. Cultivates relationships with brokers and carriers building first class business partnerships and providing quality data to carriers as needed to optimize coverages and promote quality claim management practices to include timely payments to WMATA on claims. Submits claims notices under the appropriate insurance policies subject to the respective policy reporting provisions. Analyzes decisions to determine what policies may provide coverage and the economic impacts of each claim type on premiums, claim payments, and WMATA's risk profile in the insurance market. Ensures that the maximum claim recovery is realized under first party coverages, primarily Property and Crime.
  • Maintains record of WMATA property and receives property inspections conducted by consulting engineers and ensures WMATA's compliance with recommended corrective actions. Supervises data warehouse activity for Certificates of Insurance (COI), Surety Bonds, and all other insurance related bonds. Manages Certificate and Bond database using Risk Management Information System (RMIS) ensures no third-party policies lapse coverage, notifies COI issuers prior to expiration of pending lapse and notifies respective Contracting Officer's Technical Representative (COTR) and/or Office of Procurement and Materials (PRMT) if any insurance coverage expires and violates contract required insurance related terms and conditions.
  • Manages Budget for RISK department with ongoing management of variances for actual to budget. Leads annual budget planning efforts for RISK and possesses financial acumen for running budgets and cost control techniques.

The essential duties listed are not intended to limit specific duties and responsibilities of any particular position. Nor is it intended to limit in any way the right of managers and supervisors to assign, direct and control the work of employees under their supervision.

Evaluation Criteria

Consideration will be given to applicants whose resumes demonstrate the required education and experience. Applicants should include all relevant education and work experience.

Evaluation criteria may include one or more of the following:
  • Skills and/or behavioral assessment
  • Personal interview
  • Verification of education and experience (including certifications and licenses)
  • Criminal Background Check (a criminal conviction is not an automatic bar to employment)
  • Medical examination including a drug and alcohol screening (for safety sensitive positions)
  • Review of a current motor vehicle report


Closing

WMATA is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other status protected by applicable federal law.

This posting is an announcement of a vacant position under recruitment. It is not intended to replace the official job description. Job descriptions are available upon confirmation of an interview.

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