As an important member of the Peraton Corporate Treasury team, the Corporate Risk Manager, Insurance is responsible for managing the corporation's risk and insurance programs to minimize the impact of operational and financial risk to the enterprise. This position will work collaboratively across the organization, our external advisors, brokers, insurance carriers and others on risk management strategy formulation, identification of exposures, implementation of best practices, gathering underwriting data, and the design and placement of appropriate coverage. This individual will have a good understanding of potential risks facing the corporation and optimal methods to adequately address exposures with insurance or other measures.
Manage all lines of insurance including but not limited to Professional Liability (E&O) and Cyber, Directors and Officers, Fiduciary Liability, Crime, Property, Workers' Compensation, Automobile, Environmental, Aviation, Cargo, EPL, General and Foreign Liability, DBA, Marine, and other coverages standard for a government services contractor
- Review annual insurance policies and invoices for accuracy as bound and prepare payment vouchers
- Track, process and distribute Certificates of Insurance
- Build relationships within the company, including Sector and corporate business leaders, to identify, measure and manage operational risk
- Work closely with the Insurance Broker on design and implementation of cost-effective programs, based on corporate risk posture/tolerance, to transfer and fund risk through insurance policies
- Negotiate insurance placement pricing, structure and limits
- Conduct cost/benefit analysis of program alternatives
- Evaluate adequacy of limits and appropriateness of retentions/deductibles
- Work with broker, 3rd parties or others to develop loss projections to support risk management decisions for insurance programs, particularly on E&O/Cyber, as required
- Perform risk and loss analysis and identify areas for improvement, as well as coordinate carrier services, including risk engineering visits
- Research, evaluate and make recommendations regarding current and state-of-the-art trends in risk management, safety, loss control and claims management strategies
- Support Contracts staff with the review of proposals and other contract activities that create risk and advise on risk exposures as well as develop recommended actions (contract edits, insurance requirements, etc.) to mitigate identified risk
- Review leases, contracts and other legal documents to evaluate appropriateness of wording and assure compliance with insurance and risk management policies
- Help train Program Managers and Contracts / Subcontract administrators on risk management concepts and contract language best practices, and establish contract standards for insurance and indemnification wording
- Manage claims for all lines, principally Workers' Compensation (liaison between company and carrier adjusters), Auto, EPL and others if and as they occur
- Investigate major losses and negotiate audit and other settlements
- Collaborate with legal and other personnel on pertinent claims matters
- Manage the Corporate surety program - assure access to surety bonding capacity to meet all contract and miscellaneous bond requirements and implement a program to provide oversight of bond requirement reviews and approvals
- Develop an insurance budget annually, including establishing and managing the cost allocation process with corporate finance, and manage annual insurance renewal premium costs to fit within the established budget
- Prepare and present financial and departmental reports as required to management
- Develop and maintain a Risk Management Program Manual for distribution to corporate and business management
- Maintain historical exposure information, and develop and retain vital information regarding corporate risk management programs
- Work with financial reporting, accounting and audit functions, and outside auditors as required
- Review potential acquisitions to identify significant risk management and insurance issues and make recommendations
- As required, assist the Treasurer to communicate with senior management and the Board on the state of the company's insurance programs