Insurance & Risk Mgmt - Property Claims Manager

EPIC Brokers•Chicago, IL

15d•$100,000 - $160,000•Hybrid

About The Position

This is an exciting and UNIQUE opportunity to be a fully dedicated Risk Management resource to DWS Group / RREEF America LLC (“RREEF”) via EPIC . RREEF is a real estate investment advisor registered with the U.S. Securities and Exchange Commission (“SEC”). RREEF provides investment advisory services to funds and institutional clients on a discretionary and non-discretionary basis. As a wholly owned subsidiary of DWS Group, RREEF combines deep market knowledge with capital investment to deliver value for its clients. Reporting to RREEF’s Head of Risk Management, this role focuses on property claims and development insurance placement oversight. The objective of the role is two‐fold: To ensure RREEF's clients' real estate investments are adequately insured through the day‐to‐day coordination of internal and external teams, and to champion and execute operational risk practices. The Risk Management Group currently insures core and core-plus US real estate assets with a total insured value of approximately $13b across various sectors, including residential, retail, industrial, office and storage. The role will work closely with RREEF’s value add/development teams to underwrite each construction project based on occupancy, TIV, gross square footage, location, exposure, construction detail, project costs, timeline and other project specific subjectivities; manage the procurement and placement of builder’s risk, owner’s interest liability, OCIP, construction related pollution insurance, professional indemnity and bonds, as necessary; and review project contracts to identify insurance responsibilities of each party (manager/developer/general contractor/others as applicable) and ensure proper coverage, limits, deductibles and terms & conditions.

Requirements

Experience handling, overseeing, or managing property claims (preferably within the commercial real estate space)
Candidates eager to take their commercial insurance expertise of construction &/or real estate development risks and exposures to work directly for a client and the client's best interests
Candidates with a strong sense of urgency, who can pivot and adapt to changing priorities as needed, while still maintaining high attention to detail and quality of work
The ideal candidate will be a strong communicator (both verbal and written) and comfortable working directly with clients to problem-solve and provide consultative services
Experience - Minimum of four years with construction insurance placements for commercial real estate and property claims experience
Leadership - Ability to manage areas of responsibility with holistic awareness of the overall Risk Management team roles and responsibilities
Autonomy - Takes guidance without literal direction
Conflict Resolution - Solution oriented and proactive; enjoys problem solving; can identify root causes and develop creative solutions
Project Management - Organize and manage resources necessary to complete projects
Analysis - Advanced analytical/problem solving acumen; ability to work independently; proficiency with spreadsheets and data organization
Communication - Organized thinker, writer and speaker and engaging personal style
Workload Management - Ability to manage multiple priorities in a fast-paced environment

Nice To Haves

Experience working with construction-related insurance coverages, such as builder's risk, owner’s interest, OCIP's, and CCIP's
CRIS, CPCU, ARM or other insurance certification is a plus

Responsibilities

Work closely with RREEF’s value add/development teams to underwrite each construction project based on occupancy, TIV, gross square footage, location, exposure, construction detail, project costs, timeline and other project specific subjectivities
Evaluate project risks for appropriate risk transfer strategies
Work closely with RREEF’s internal stakeholders, joint venture partners, legal teams and insurance brokers to align risk management strategies with project goals
Manage the procurement and placement of RREEF’s builder’s risk, owner’s interest liability, OCIP, construction related pollution insurance, professional indemnity and bonds, as necessary
Review project contracts to identify insurance responsibilities of each party (manager/developer/general contractor/others as applicable) and ensure proper coverage, limits, deductibles and terms & conditions
Ensure lender requirements are met
Maintain RREEF’s Development Project Tracker and follow all ground-up development and expansion projects from commencement to completion
Provide operational premium indications to RREEF’s internal stakeholders
Work closely with RREEF’s transactions and engineering teams to underwrite each new property based on occupancy, TIV, gross square footage, location, exposure, construction attributes and risks (e.g. recognized environmental conditions)
Provide insurance premium indications and quotes to RREEF’s internal stakeholders by utilizing a proprietary quote workbook
Review all due diligence materials (e.g. loss runs, COI’s, PCA’s, Phase I’s, etc.) and flag any potential issues for RREEF’s transaction team
Review, assess and communicate any coverage issues/restrictions prior to closing
Gather all necessary COPE data and documentation to roll new assets into RREEF’s blanket insurance programs
Communicate acquisitions and dispositions to insurance RREEF’s brokers
Track and record all transaction activity for quarterly carrier reporting, including invoice tracking and payments
Respond to due diligence requests from RREEF’s prospective buyers
Calculate return premiums for dispositions and provide banking wire instruction to RREEF’s brokers to return unearned premiums at time of sale
Review and acknowledge receipt of all property incidents/claims received from RREEF’s third party property managers via Riskonnect
Obtain additional information and documentation, as necessary
Monitor all claims to ensure proper claim handling
Serve as a resource for RREEF’s property managers to help them navigate the claims process
Work with RREEF’s third party property claims administrator to address any potential coverage issue and maximize coverage under our property policies
Evaluate coverage correspondence and respond accordingly; loop in RREEF’s insurance broker as necessary
Identify claim trends and communicate to RREEF’s internal stakeholders accordingly
Participate in quarterly claim reviews
Maintain Riskonnect claim files in real-time and document all activity
Manage relationships with RREEF’s approved emergency response vendors
Review and assist in negotiating contracts, including JV agreements, leases, access agreements, vendor contracts, loans and construction agreements
Provide support to RREEF’s asset managers, joint venture partners, lenders, property managers, leasing agents, buyers, sellers, and internal and external counsel with insurance-related requests and questions
COI issuance

Benefits

RREEF is serious about diversity, equity and creating an inclusive culture where colleagues can be themselves and it’s important to them that you enjoy coming to work - feeling healthy, happy and rewarded.
RREEF’s Hybrid Working model is designed to find the right balance between in-person collaboration and engagement in the office, which is core to RREEF’s working culture, and working from home.
Each business group varies on the split between time spent in the office and at home, but this will be discussed and made clear as part of your application and interview process.
RREEF will continue to review and evolve their working environments and methods to ensure that they are working in the best way possible for their people.
RREEF strives for a culture in which people are empowered to excel together every day. This includes acting responsibly, thinking commercially, taking initiative and working collaboratively.
RREEF shares and celebrate the successes of their people.
We welcome applications from all people and promote a positive, fair and inclusive work environment.
EPIC embraces diversity in all its various forms—whether it be diversity of thought, background, race, religion, gender, skills or experience.
We are committed to fostering a work community where every colleague feels welcomed, valued, respected and heard.
It is our belief that diversity drives innovation and that creating an environment where every employee feels included and empowered, helps us to deliver the best outcome to our clients.