Description
About the Role
This position is in the agency's Treasury department and plays a critical role in aiding in the protection of the agency's 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 renewals, 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
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Minimum Qualifications
- 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
- Bachelor's 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 Associate's 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 assessments
- Interacts effectively with internal and external clients
- Excellent verbal and written communication and presentation skills
- Strong customer service skills
- Demonstrated ability to prepare formal presentations
- Exceptional analytical skills with attention to detail
- Must work independently and as part of a team
- Adept at managing multiple projects under tight deadlines
- Strong PC skills including Excel, Word, PowerPoint and Riskonnect
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.
Compensation & Benefits
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.
How to Apply:
Interested candidates should apply to this job by clicking on the "Apply Now" button and submitting a resume. The Port Authority of NY & NJ welcomes veteran and military spouse applications.
Only applicants under consideration will be contacted.
About The Port Authority:
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 twenty three billion in annual wages and eighty 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.
Equal Opportunity Employer
The Port Authority of New York & New Jersey/Port Authority Trans-Hudson (PATH) is an Equal Opportunity Employer.