Insurance Risk Manager
About The Position
AIG Inc.’s Corporate Insurance Department is responsible for mitigating the Company’s operating exposures by maintaining insurance programs and bonds to manage risk at acceptable levels. The Insurance Risk Manager works closely with AIG’s business units internally and externally with brokers, vendors and nonaffiliated insurance companies to transfer the risk of loss by purchasing insurance with an objective to maintain expenses, including the retained loss costs, at reasonable levels and in line with the Company’s risk appetite. Corporate Insurance Department also delivers evidence of insurance, advice and consultation on specific insurance programs, evaluation of risk with mapping to insurance and claims management. AIG’s business units are customers and stakeholders that we serve.
Requirements
- Bachelor’s Degree in Risk Management, Finance, or related quantitative field of study
- Must have 5+ or more years work experience in Property & Casualty insurance industry – functioning as insurance risk manager, underwriter, claims analyst, insurance broker, or insurance consultant
- Comprehensive working knowledge of insurance coverage in Property & Casualty and Financial lines
- Ability to work both independently with little supervision as well as work in a team dynamic
- Proficiency in the following skills: analytical, organization, prioritization, decision making, negotiation, interpersonal, influence without authority, advocacy, and business communication
- Must be completely proficient with Excel
- Ability to develop, cultivate, and maintain excellent relationships within, and external to, the Company
Responsibilities
- Analyze and assess the impact of risks of loss arising out of AIG’s business operations
- Stay abreast of Company’s business and operational changes impacting the insurance risk
- Assist with coordination, and negotiation of insurance placements for AIG, subsidiaries and affiliates as assigned.
- Review invoices, binders and policies for accuracy
- Proactively lead AIG’s U S Casualty large deductible structured insurance program which includes oversight of monthly, quarterly and annual transactions; deductible liability analysis quarterly and annually with actuary and Global Head of Corporate Insurance and communication with financial reporting
- Prepare insurance risk reports: Casualty insurance loss runs with analysis, track changes in Company’s exposure impacting ins rate; profit & loss statements, and insurance expense budget estimates with appropriate support
- Deliver presentations for internal and external audiences on AIG’s corporate insurance programs, operations, and risk management programs
- Review AIG service provider/vendor, special events and real estate contracts to assess the operational risks and advise on the appropriate amount and type of insurance recommended. Provide insurance guidance in line with indemnity and hold harmless sections or the contract
- Review COI and/or policies if needed to assist Company’s business unit
- Communicate and manage a smooth insurance transition to AIG’s corporate insurance programs on mergers and acquisitions and off AIG’s corporate programs on divestitures
- Annually assess controls in place for managing risks arising out of Corporate Insurance department’s operations and processes. Develop and propose solutions to address accordingly to AIG’s Global Head of Corporate Insurance
- Uphold and adhere to AIG, Inc.’s corporate policies. This includes but is not limited to Records, Information and Management Policy with standards, Insurance Purchasing Policy with standards, and Auto Vehicle Use Policy
Benefits
- Bonus in accordance with the terms of the applicable incentive plan
- Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security—as well as your professional development
- Volunteer Time Off
- Matching Grants Programs
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What This Job Offers
Job Type
Full-time
Career Level
Senior
