Insurance Risk Manager

Company Description The New Jersey Schools Development Authority (SDA) is the state agency responsible for fully funding and managing new construction, modernization, and renovation of school facilities in 31 SDA Districts, as well as providing grants to Regular Operating Districts across the state. Its active project portfolio is valued at approximately $2 billion, covering capital projects, emergent needs, and district grants. Since inception, the SDA has supported more than 850 completed school facilities projects in SDA Districts and executed over 5,400 grants statewide. Working at the SDA offers a meaningful opportunity to contribute to state‑of‑the‑art learning environments for New Jersey’s children while engaging in complex, impactful public‑sector projects. Job Summary Under the direction of the Director – Facilities & Risk Management, this position is responsible for identifying, mitigating, and managing risks to the Authority’s assets and operations. Assist in managing the Authority’s Owner Controlled Insurance Program (OCIP) and Business, Real Estate, and Builders Risk insurance programs, including policy procurement and administration, and oversight of insurance brokers and other service providers. Other responsibilities include drafting and reviewing contractual insurance requirements, managing claims and external claims adjusters, working on loss control initiatives, and responding to insurance and risk management‑related inquiries from other SDA departments. Residency in New Jersey is required, in accordance with the New Jersey First Act. Essential Duties and Responsibilities 1.Support the Director – Facilities & Risk Management in procuring the Authority’s business and real estate insurance programs, by identifying insurable risks, determining the appropriate lines of coverage, policy limits, and retentions, completing insurance applications and schedules of values for the annual renewal, participating in reviews to select the best quotes, reviewing binders and policies for accuracy, and overseeing the Authority’s insurance brokers. 2.Process mid‑term changes to the Business and Real Estate insurance programs, i.e., additions or deletions to the vehicle fleet or property portfolio. Provide payroll data to the Workers Compensation insurer for its annual premium audit. Maintain spreadsheets that track premium changes and total costs. 3.Support management of the Authority’s OCIP and Builders Risk programs, by reviewing project schedules and communicating with the construction teams to ensure that projects are enrolled in a timely manner. Assist the Director in reviewing the weekly enrollment report for each project and overseeing the OCIP Administrator, to ensure that contractors are approved and enrolled before working on the project site. Identify and track enrolled construction values for the OCIP insurer’s premium audits. Update and maintain the OCIP Manual. 4.Draft and review the insurance provisions of SDA’s RFPs and vendor, construction, and real estate contracts. Reviews insurance provisions of contracts submitted to SDA, and recommend revisions to Legal, if needed. 5.Review certificates of insurance for compliance with contractual requirements, and work with SDA’s operating units and vendors, contractors, etc., to rectify any non‑compliance. 6.Oversee insurance adjusters handling OCIP‑related workers compensation and general liability insurance claims. Work with insurers, brokers, and legal counsel to resolve non‑OCIP Auto, Property, Cyber, and other claims, including coverage and contribution issues. 7.Educate bidding contractors on the different insurance requirements for OCIP and non‑OCIP projects. 8.Work with the Authority’s construction teams to identify risk exposures for upcoming projects. 9.Analyze OCIP claims data, identify trends, prepare reports, and collaborate with the Authority’s and prime contractors’ safety inspectors to mitigate future losses. 10.Respond to insurance and risk management‑related inquiries from Legal, IS, Planning, Internal Audit, and other SDA departments, as well as contractors, consultants, vendors, and other parties. 11.Assist in preparing the Department’s annual operating budget, and annual insurance budgets for the Authority’s operations and construction projects. 12.Participate in procurements to select the Authority’s insurance brokers and OCIP Administrator. 13.Assist in preparing presentations to the executive team and Board of Directors. 14.Recommend improvements to existing risk management processes and procedures to improve the Department’s efficiency and effectiveness. 15.Perform special functions, projects, and other duties as assigned. Required Education and Experience 1.Bachelor’s Degree 2.Seven or more years of experience in a corporate risk management department, identifying risks, procuring and managing commercial insurance programs, and working with insurance brokers and carriers.Alternatively, 10 or more years as a broker or underwriter handling construction and/or real estate accounts. 3.Extensive knowledge of Commercial Property and Casualty Insurance coverage, including Property, Auto, General Liability, Workers Compensation, Cyber, and Professional Liability. 4.Understanding of contractual insurance and indemnification principles, and the ability to draft and review insurance requirements. 5.Understanding of claims adjusting principles. Desired Experience 1.Experience in construction or real estate insurance and risk management. 2.Experience handling liability and workers compensation claims. 3.Experience working with OCIPs or CCIPs. Required Skills and Abilities Strong analytical and problem‑solving skills. Strong negotiation and leadership skills. Highly detailed and organized. Excellent spoken and written communication skills. Able to build and maintain strong working relationships with individuals at all organizational levels, both internally and externally. Proficiency in Word and Excel; ability to learn and utilize various information systems used by the Authority. Physical Demands Occasional visits to active construction sites for safety or other meetings. Significant walking may be required. License and Certificates Valid driver’s license required. Salary Range $105,900-115,000 The NJ Schools Development Authority is an Equal Opportunity Employer and prohibits discrimination and harassment of any kind. All employment decisions at the NJ Schools Development Authority are based on business needs, job requirements and individual qualifications, without regard to race, color, religion or belief, national, social or ethnic origin, sex (including pregnancy), age, physical, mental or sensory disability, HIV Status, sexual orientation, gender identity and/or expression, marital, civil union or domestic partnership status, past or present military service, family medical history or genetic information, family or parental status, or any other status protected by the laws or regulations. #J-18808-Ljbffr