SENIOR RISK ANALYST

The Port Authority of New York & New Jersey; New York (NY); Hybrid; USD 90,000 - 135,000; Full time

Job summary

The Port Authority of New York & New Jersey is seeking an Insurance Subject Matter Expert in the Treasury department to manage risk assessments and contract reviews. This role requires strong analytical and communications skills, along with a relevant degree and significant experience in insurance and contractual risk analysis. As the subject matter expert, you will play a vital role in protecting the agency's balance sheet through effective risk transfer and insurance placements, contributing to major projects that support the region's infrastructure.

Benefits

Competitive benefits package

Supportive professional environment for development

Qualifications

• Minimum 5 years experience in contractual risk analysis relating to construction or transportation.
• Ability to negotiate risk transfer requirements and review complex contracts.
• Experience working with internal stakeholders and external clients.

Responsibilities

• Lead complex contract reviews and coverage evaluations.
• Negotiate third-party coverage requirements and manage insurance relationships.
• Prepare Board material for procurement authorization of insurance products.

Skills

Analytical skills

Verbal communication

Written communication

Presentation skills

Risk assessment

Education

Bachelor's Degree in Risk Management, Finance, Economics, or related field

Associates degree in Risk Management, Finance, Economics, or related field

High School Diploma

Tools

Excel

Word

PowerPoint

Job description

This position is in the agencys Treasury department and plays a critical role in aiding in the protection of the agencys balance sheet through contractual risk transfer, insurance placement and policy administration. The incumbent will work across the agency, serving as the insurance subject matter expert for major projects that keep the region moving!

Responsibilities

• Leads complex contract reviews, performing coverage evaluations and assessments
• Establishes and negotiates third-party coverage requirements
• Aggregates, analyzes and presents underwriting data and information
• Leads procurement of insurance services including brokers, actuaries and more
• Manage relationships with internal stakeholders and third parties , including but not limited to brokers, insurers, adjusters, attorneys
• Review complex contracts to identify, assign and quantify risks
• Verify the adequacy and maintenance of insurance coverages
• Recommend insurance language for contracts
• Negotiate contractual risk transfer with both internal and external stakeholders
• Assist with and / or lead the procurement of brokerage services
• Contributes to Port Authority insurance renewal s , including data gathering and analysis to support underwriting disclosure for insurers / reinsurers
• Interact with insurance brokers, claims adjusters and attorneys
• Prepare Board material for authorization of procurement of insurance products and services
• Maintain data and information within the Risk Management Information System (RMIS), databases and different technology platforms
• Prepare and / or participate in ad hoc risk related projects and reports
• Must be able to efficiently review contracts and comprehend legalese
• Be knowledgeable in construction-related insurance as well as insurance coverage needed for operations at Port Authority facilities
• Bachelors Degree in Risk Management, Finance, Economics, Business Administration, Law, or a related field and a minimum of five (5) years of experience in contractual risk analysis relating to construction or transportation operations; or an Associates degree in Risk Management, Finance, Economics, Business Administration, Law, or related field and a minimum of seven (7) years contractual risk analysis experience in construction or for large / complex entities like the Port Authority; or a High School Diploma and minimum of ten (10) years contractual risk analysis experience in construction of for large / complex entities like the Port Authority
• Exercise sound judgment in determining appropriate risk transfer and any exceptions to requirements that can be granted
• Perform risk assess ments
• I nteract s effectively with internal and external clients
• Excellent verbal and written communication and presentation skills
• Demonstrated ability to prepare formal presentations
• Exceptional analytical skills with attention to detail
• Must work independently and as part of a team
• Strong PC skills including Excel, Word, PowerPoint and Riskonnec t

Desired Qualifications

• College degree in Risk Management, Finance, Economics, Business Administration, Law, or related field
• Insurance designations including ARM, CPCU, CRM, CIC, RIMS-CRMP or others a plus
• Risk management, brokerage, underwriting, and / or claims experience.
• Willingness to learn

Selection Process

The application process varies by position but typically includes an initial phone interview for qualified candidates, followed by a more in-depth interview(s) and / or assessment(s). Selected candidates who are made a conditional job offer will be asked to undergo a background check.

The Port Authority of New York and New Jersey offers a competitive benefits package, hybrid work options for many positions, and a professional environment that supports development and recognizes achievement.

Click here for more information about benefits, our culture, and career development opportunities.

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