Founded in 1921, the Port Authority of New York and New Jersey builds, operates, and maintains many of the most important transportation and trade infrastructure assets in the country. The agency's network of aviation, ground, rail, and seaport facilities is among the busiest in the country, supports more than 550,000 regional jobs, and generates more than $23 billion in annual wages and $80 billion in annual economic activity. The Port Authority also owns and manages the 16-acre World Trade Center site, where the 1,776-foot-tall One World Trade Center is now the tallest skyscraper in the Western Hemisphere.
Under the direction of the Treasurer, this position is responsible for aligning the agency’s willingness to take risks, with its ability to do so – proactively identifying, managing and mitigating risks. Responsibilities: * Planning, managing and directing the agency's risk and insurance management operations including both purchased insurance and contractual risk transfer. * Oversight of the technical activities of the Property, Liability, Workers' Compensation, Construction contract insurance programs. Lead role in design and placement of all insurance coverage. * Oversight and management of the Port Authority Insurance Captive Entity (PAICE). * Oversight of insurance recovery efforts related to significant or catastrophic claims including attendance at internal and external Claim Review Committees and the Operations department regarding safety programs and compliance. * Serve as the main contact with all PA departments on insurance and risk financing issues including development of minimum leasing requirements for all leases and contracts. * Lead a staff of six in contract and lease risk analysis * Act as lead staff member on all major insurance program negotiations and placements on behalf of the agency. Ensure that all coverage is consistent with Port Authority policies and goals. * Oversight of Workers’ Compensation Claims Management team of three. * Represent the Port Authority in relationships with insurance and risk management markets, consultants, brokers, trade associations, professional groups, regulatory or governmental agencies and any other internal or external third parties. * Develop and maintain successful relationships with external constituents to enhance work-flow and obtain highest level of professional service from such entities. * Serve as lead role in exploring alternative and innovative program structures and coverage options on all insurance programs, including expanded utilization of PAICE to provide targeted areas of coverage to the PA to reduce premium paid to the commercial insurance market. * Coordinate Risk Financing activities and advance finance interests with the Law Department. * Lead role in complex claim negotiation and work with other staff to align insurance reimbursement with any other sources of funding to maximize total Port Authority recovery * Supervise a total team of 11 in managing the insurance needs of the agency and daily administration of the captive entity. * Work to procure and implement a Risk Information Management System (RIMS) at the Port Authority.
JOB REQUIREMENTS: Candidates must present the following qualifications to be considered eligible for this position: * Bachelor’s Degree in Business, Finance, Economics, Risk Management or related field from an accredited college or university. * A minimum of 10 years experience with commercial and property casualty insurance programs, property insurance claims and owner provided insurance programs. * A minimum of 10 years experience with managing an insurance captive entity. Ideal candidates will present the following profile: * Demonstrated experience taking a lead role in planning, managing and directing a complex insurance program. * Demonstrated knowledge and application of risk management safety and loss control programs. * Demonstrated management and leadership skills. * CPCU and/or ARM designations highly desirable. * Master’s Degree in Business, Finance, Economics, Risk Management or related field from an accredited college or university. The Port Authority of New York and New Jersey offers a competitive salary, an outstanding benefits package and a professional environment that supports development and recognizes achievement.
The Port Authority of New York & New Jersey/Port Authority Trans-Hudson (PATH) is an Equal Opportunity Employer.
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