Insurance Compliance Risk Manager

New York City Housing Development Corporation; New York (NY); On-site; USD 100,000 - 120,000; Full time

Job summary

An established industry player is seeking an Insurance Compliance Risk Manager to lead risk management efforts in a dynamic environment. This role involves identifying and mitigating risks related to insurance on a diverse property portfolio, serving as a subject matter expert, and conducting audits to ensure compliance with insurance guidelines. The ideal candidate will possess strong analytical and communication skills, along with a solid understanding of the insurance landscape. Join this innovative organization and contribute to the success of affordable housing initiatives while enjoying competitive benefits and a collaborative workplace.

Benefits

Health Benefits at a reasonable cost

Dental and Vision Benefits at no cost

Retirement savings plan with a generous match

Pension plan

Paid holiday, vacation, sick time and parental leave

Professional development opportunities

Public Service Loan Forgiveness for eligible employees

Wellness reimbursement

Back-up Caregiver Benefit

Qualifications

• 3-5 years of experience in Property and Casualty Insurance and Risk Management.
• Extensive knowledge of commercial property and liability insurance.

Responsibilities

• Identify and mitigate risks associated with insurance on the property portfolio.
• Manage a team responsible for reviewing insurance certificates.

Skills

Analytical Skills

Interpersonal Skills

Communication Skills

Problem-Solving

Strategic Thinking

Education

Bachelor's degree in Risk Management, Insurance, Finance or Legal

ARM, CPCU, CRM, RPLU certification

JD, MBA, MPA

Tools

Microsoft Word

Microsoft PowerPoint

Microsoft Access

Microsoft Excel

Job description

Position Summary:

The Insurance Compliance Risk Manager reports to the Vice President, Loan Servicing. The Insurance Compliance Risk Manager is responsible for identifying, assessing, and mitigating risks associated with insurance on the HDC portfolio of properties; serve as subject matter expert on insurance claim related matters and insurance market trends; and perform regular audits and reviews of the insurance area to ensure adherence to HDC insurance guidelines.

Area of Talent: Risk Management/Insurance

Position Type: Full Time/Exempt

Salary Range: $100,000 - $120,000

Office Location: NYC/Financial District

Job Responsibilities:

• Serve as a Subject Matter Expert for Insurance, including proactively researching, identifying, analyzing insurance market trends and recommend solutions to mitigate future loan defaults, as well as present findings along with insurance area metrics to management as necessary.
• Manage a team of two (2) staff responsible for reviewing insurance certificates for property, liability, boiler and machinery/equipment breakdown, umbrella, fidelity, and other types on HDC and HPD properties at closing, conversion, and renewals.
• Oversee payments for insurance premiums and perform insurance escrow analysis.
• Coordinate insurance claim checks endorsements and funds releases.
• Coordinate arbitrage bills between bond counsel, accounting, and the borrower.
• Stay abreast of relevant laws, regulations, and industry standards related to property, liability, and other types of insurance as well as risk mitigation measures applicable to the affordable housing portfolio.
• Generate insurance compliance reports and implement compliance protocols as appropriate.
• Work closely with the legal and development teams to assist with insurance related issues resolution.
• Perform insurance audits, risk analysis and controls on a regular basis and report to management accordingly.
• Ensure that HDC insurance requirements are up to date and update ratings on Insurance Carriers using AM Best.
• Develop and maintain strong relationships with insurance brokerage partners to ensure efficiency of insurance tracking including obtaining claims documentation, insurance premium invoices and certificate of insurance when needed.
• Monitor Mortgage Insurance Premiums to ensure HDC has the information required and approves payments for HUD, SONYMA, and REMIC.
• Partner with internal and external customers to provide exceptional service.
• Coach and mentor team associates.
• Perform other duties as assigned.

Required Qualifications:

• Bachelor's degree, preferably in the field of Risk Management, Insurance, Finance or Legal. ARM, CPCU, CRM, RPLU certification preferred. JD, MBA, MPA acceptable.
• Three (3) to five (5) years of experience of Property and Casualty (all lines) Insurance and Risk Management.
• Extensive knowledge and understanding of commercial property and liability insurance, insurance policy forms, claims handling processes, insurance market dynamics and conditions.
• Demonstrated ability to think strategically and execute value added solutions.
• Must have strong analytical, interpersonal and communication skills with ability to effectively present to all levels of management.
• Highly proficient in Microsoft business applications including Word, Power Point, Access, Excel.
• Leader and collaborator.
• Resourceful, self-starter with advanced problem-solving abilities to deliver creative solutions.
• Insurance industry designations or Property & Casualty License a plus.
• Familiarity with HUD, Fannie Mae, and SONYMA a plus.
• Understanding of New York construction insurance landscape a plus.

It is strongly preferred that you submit a cover letter with your resume. You may also fax your resume and cover letter to [phone].

HDC demonstrates a strong commitment to its employees by providing a salary that is competitive and commensurate with experience and excellent benefits, including:

• Health Benefits at a reasonable cost
• Dental and Vision Benefits at no cost
• Retirement savings plan with a generous match and a pension plan
• Paid holiday, vacation, sick time and parental leave
• Professional development opportunities
• Public Service Loan Forgiveness for eligible employees
• Wellness reimbursement
• Back-up Caregiver Benefit

HDC is an inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual's sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.

HDC is committed to the full inclusion of all qualified individuals. As part of this commitment, HDC will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please complete the reasonable accommodations section on the application or contact Human Resources by emailing [e-mail].