Senior Manager, Insurance

American Water Works • Camden, NJ

398d • $83,200 - $87,360

About The Position

The Senior Manager, Insurance at American Water is responsible for overseeing the company's comprehensive insurance programs, including property and casualty, executive lines, and financial lines. This role aims to enhance the insurance function by ensuring effective insurance placements, managing claims oversight, and leading contractual risk transfer initiatives. The position requires collaboration with various internal and external stakeholders to create a seamless insurance experience and strategic risk-sharing with insurers.

Requirements

• Bachelor's degree in Insurance, Risk, Finance, or similar areas.
• 5-8 years of experience in an insurance company, broker, or corporate risk transfer function.
• Experience as a corporate risk manager or insurance buyer with a large, publicly traded firm.
• Strong understanding of Property, Casualty, and Financial Lines of insurance.
• Excellent written and verbal communication skills.

Nice To Haves

• Master's degree in a relevant field.
• A Juris Doctor (JD) or similar legal professional degree.
• Knowledge of and experience with water utility and related services business risks.

Responsibilities

• Manage the development, implementation, and administration of the company's insurance programs.
• Lead annual insurance renewals, including applications, underwriting submissions, and renewal presentations.
• Negotiate with insurance carriers and ensure insurance appropriateness based on enterprise risk guidelines.
• Cultivate strong relationships with insurance underwriters, brokers, and external third parties.
• Act as the primary point of contact for the company's insurance brokers for all insurance-related concerns.
• Oversee all renewal applications and ensure accurate exposure data is reported to brokers and underwriters.
• Support and collaborate with the Claims and Risk Management teams to manage the Total Cost of Risk (TCOR).
• Lead all programmatic aspects of the enterprise Contractual Risk Transfer program.
• Partner with internal and external stakeholders to effectuate an efficient Contractual Risk Transfer program.
• Conduct analyses of potential loss exposures to determine appropriate insurance coverage.

Benefits

• Competitive salary and health benefits package.
• Opportunities for career development and growth.
• Focus on health & wellness, emotional & well-being, and savings for future goals.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Industry: Utilities
• Education Level: Bachelor's degree
• Number of Employees: 5,001-10,000 employees