Description

About the Role

This position is in the agency's Treasury department and plays a critical role in aiding in the protection of the agency's balance sheet through contractual risk transfer, insurance placement and policy administration. The incumbent will work across the agency, serving as the insurance subject matter expert for major projects that keep the region moving!

Responsibilities

Leads complex contract reviews, performing coverage evaluations and assessments

Establishes and negotiates third-party coverage requirements

Aggregates, analyzes and presents underwriting data and information

Leads procurement of insurance services including brokers, actuaries and more

Manage relationships with internal stakeholders and third parties, including but not limited to brokers, insurers, adjusters, attorneys

Review complex contracts to identify, assign and quantify risks

Verify the adequacy and maintenance of insurance coverages

Recommendinsurance language for contracts

Negotiate contractual risk transfer with both internal and external stakeholders

Assist with and/or lead the procurement of brokerage services

Contributes to Port Authority insurance renewals, including data gathering and analysis to support underwriting disclosure for insurers/reinsurers

Interact with insurance brokers, claims adjusters and attorneys

Prepare Board material for authorization of procurement of insurance products and services

Maintain data and information within the Risk Management Information System (RMIS), databases and different technology platforms

Prepare and/or participate in ad hoc risk related projects and reports

Minimum Qualifications

Must be able to efficiently review contracts and comprehend legalese

Be knowledgeable in construction-related insurance as well as insurance coverage needed for operations at Port Authority facilities

Bachelor's Degree in Risk Management, Finance, Economics, Business Administration, Law, or a related field and a minimum of five (5) years of experience in contractual risk analysis relating to construction or transportation operations; or an Associate's degree in Risk Management, Finance, Economics, Business Administration, Law, or related field and a minimum of seven (7) years contractual risk analysis experience in construction or for large/complex entities like the Port Authority; or a High School Diploma and minimum of ten (10) years contractual risk analysis experience in construction of for large/complex entities like the Port Authority

Exercise sound judgment in determining appropriate risk transfer and any exceptions to requirements that can be granted

Perform risk assessments

Interacts effectively with internal and external clients

Excellent verbal and written communication and presentation skills

Strong customer service skills

Demonstrated ability to prepare formal presentations

Exceptional analytical skills with attention to detail

Must work independently and as part of a team

Adept at managing multiple projects under tight deadlines

Strong PC skills including Excel, Word, PowerPoint and Riskonnect

Desired Qualifications

College degree in Risk Management, Finance, Economics, Business Administration, Law, or related field

Insurance designations including ARM, CPCU, CRM, CIC, RIMS-CRMP or others a plus

Risk management, brokerage, underwriting, and/or claims experience.

Willingness to learn

Selection Process

The application process varies by position but typically includes an initial phone interview for qualified candidates, followed by a more in-depth interview(s) and/or assessment(s). Selected candidates who are made a conditional job offer will be asked to undergo a background check.

Compensation & Benefits

The Port Authority of New York and New Jersey offers a competitive benefits package, hybrid work options for many positions, and a professional environment that supports development and recognizes achievement.

Click here (https://www.jointheportauthority.com/pages/working-here) for more information about benefits, our culture, and career development opportunities.

REQNUMBER: 63179

Port Authority of New York and New Jersey

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