The Vice President (VP), Insurance & Risk Manager will report directly to the Executive Vice President of Finance and will be responsible for the delivery and oversight of the organization’s insurance and risk management programs. In this role, you will interact regularly with other departments and staff throughout the organization to establish industry best practices.

ESSENTIAL DUTIES AND RESPONSIBILITIES: 

• Advise on all corporate wide insurance matters including reviewing operations, identifying gaps, and recommending new coverages as needed 
• Manage NYCEDC’s internal captive insurance company including the development of processes and policies to be used with the captive, the addition of new coverages, and review of the captive’s risks and exposures 
• Review contracts managed by different departments across the organization along with the NYCEDC Legal Department and, occasionally, discuss with external parties and/or their insurance brokers
• Manage firm-wide claims process, working closely with the Legal Department on all claims, perform deductible reserves analysis, manage property claims from start to finish, and update monthly claims/loss ratios
• Coordinate all insurance and risk related requests from internal/external stakeholders who play a role in the various insurance functions at NYCEDC 
• Prepare, present, and manage the annual insurance budget
• Train project support teams and others in the review certificates of insurances (COIs)
• Coordinate site visits for insurance appraisals and loss mitigation/risk control services, present the resulting recommendations internally and discuss their implementations
• Manage external relationships with third party administrators (TPAs), the organization’s insurance brokers, insurers, the captive insurance company manager and City, State, and Federal agencies
• Review and execute on requests for insurance modifications and waivers 
• Guide and manage Senior Analyst in all facets of assigned tasks  
• Build strong cross-functional relationships throughout the organization to support the long-term growth of the function and the team  
• Other duties as assigned

QUALIFICATIONS:

• Bachelor’s or equivalent degree required; ARM, CPCU certification preferable
• 8+ years of relevant commercial insurance and/or risk management experience
• Demonstrated experience as a corporate risk manager with direct responsibility for purchasing of coverages in the commercial insurance markets 
• Knowledge of risk management governance and controls 
• Experience with construction and lease contracts insurance requirements preferred 
• Demonstrated ability to adapt to and initiate change within the organization.  
• Strong communication, facilitation, and consensus building skills 
• Process design and analysis skills 
• Demonstrated ability to work effectively in teams with a commitment to professionalism  
• High ethical standards with a strong understanding of confidentiality requirements  
• New York City residence is required within 180 days of hire 

About New York City Economic Development Corporation

New York City Economic Development Corporation is a mission-driven, nonprofit organization that works for a vibrant, inclusive, and globally competitive economy for all New Yorkers. We take a comprehensive approach, through four main strategies: strengthen confidence in NYC as a great place to do business; grow innovative sectors, with a focus on equity; build neighborhoods as places to live, learn, work, and play; and deliver sustainable infrastructure for communities and the city’s future economy.

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