Director of Risk Management, Insurance and 3rd Party Liability
- Employer
- Washington Metropolitan Area Transit Authority
- Location
- Washington D.C
- Closing date
- Jan 29, 2021
View more
- Industry
- Delivery and Transportation
- Function
- Executive, Director
- Hours
- Full Time
- Career Level
- Experienced (Non-Manager)
Job Details
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.
Company
The Washington Metropolitan Area Transit Authority operates the second largest rail transit system and the fifth largest bus network in the United States. Safe, clean and reliable, "America's Transit System" transports more than a third of the federal government to work and millions of tourists to the landmarks in the Nation's Capital.
Metro has earned a worldwide reputation for security and architectural beauty. WMATA is clearly the employer of choice for over 10,000 area residents. The Authority was created in 1967 by an interstate compact to plan, develop, build, finance and operate a balanced regional transportation system in the National Capital area. Construction of the Metrorail system began in 1969. Four area bus systems were acquired in 1973. The first phase of Metrorail began operation in 1976. The final leg of the original 103-mile rail network was completed in early 2001. Metrorail now operates 83 stations. One line extension and three new stations are now under construction.
Metrorail and Metrobus serve a population of 3.4 million within a 1,500-square-mile area. The transit zone consists of the District of Columbia, the suburban Maryland counties of Montgomery and Prince George's and the Northern Virginia counties of Arlington, Fairfax and Loudoun and the cities of Alexandria, Fairfax and Falls Church. Overall, about 40 percent of the region's residents commute to work on Metro.
Metro and the federal government are partners in transportation. Half of the 83 Metrorail stations serve federal facilities and 36 percent of the local federal workforce uses Metro. We are committed to being an integral part of the Washington metropolitan area by ensuring the best in safe, reliable, cost-effective and responsive transit services, by promoting regional mobility and by contributing toward the social, economic and environmental well-being of our community. Employees are Metro.; We are committed to providing a working environment that fosters a high standard of performance, recognition for contributions and innovations, mutual respect and a healthy quality of life.
We are committed to developing ourselves through technology, training and education. We recognize our diversity as a source of strength that enables us to attain individual and Authority goals. In addition to competitive salaries, Metro employees enjoy a number of attractive benefits. These benefits include paid time off in the form of vacations, holidays and sick leave; medical, dental, life insurances as well as long term disability. Retirement is planned for through a defined contribution plan and a deferred compensation plan. Alternative work schedules, teleworking and free transportation on Metrorail and Metrobus make for an great benefits package for WMATA employees.Jump to our website to apply online for current openings and save the link for future vacancies as they occur.http://content.wmata.com/jobs/employment_opportunities.cfm
- Website
- http://www.wmata.com/
- Location
-
600 Fifth St. NW
Washington
DC
20001
US
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