Titan America LLC has an excellent opportunity for a Senior Manager, Insurance and Risk Management in its Norfolk, VA headquarters. This salaried exempt position is the senior insurance and risk management position in the organization.
The successful candidate will be accountable for identifying, measuring and managing insurable or hazard risks, analyzing risk/insurance challenges, informing/influencing key risk stakeholders, and implementing efficient and effective risk management solutions.
Titan America is part of TITAN Group, an independent, vertically integrated, cement and building materials producer with 115 years of industry experience. Headquartered in Greece, TITAN Group employs more than 5,600 people worldwide with leading positions in cement, construction aggregates, concrete and related activities. Titan America operates in the Eastern region of the United States, employs more than 2,000 people at 120 operating locations, and had revenues of approximately $900 million in 2016.
The Senior Manager, Insurance and Risk Management will be accountable for the following contributions:
Loss Exposure & Insurance
- Develop programs to protect against financial loss resulting from:
- Damage to company property;
- Business interruption; and
- Liability arising from property damage or injury to employees, contractors, and the public.
- Analyze and review all current property and casualty insurance coverage needs based on the company’s exposure to loss;
- Maintain a proper balance among: losses retained, risk control, insurance premiums, and administrative costs;
- Maintain proper schedule of values for all real and personal property, and business interruption exposures;
- Develop coverage specifications and submit directly to underwriters;
- Review proposals for all coverage lines, negotiate terms and make recommendations on final products;
- Review all issued insurance policies for accuracy;
- Maintain an insurance register that details all relevant information for each in-force policy;
- Process insurance premium payments
Contracts and Agreements
- Develop, maintain, and communicate indemnification and insurance criteria for contractors and vendors – including standard templates for use in company contracts/agreements;
- Review sales agreements, leases, contracts and other corporate agreements for liabilities or exposure areas that should be avoided and provide acceptable terms;
- Analyze and evaluate potential risk exposures presented by proposed new corporate ventures and acquisitions and provide recommendations for the appropriate management of the risks; and
- Obtain approval of contract terms and issue surety bonds when required.
- Direct and manage all insured and self-insured claims;
- Represent company in mediations of litigated matters and settlement negotiations;
- Maintain a litigation management system that details defense counsel in each area where the company operates;
- Attend periodic claims review with TPA adjusters that focuses on claim strategy and reserve adequacy;
- Provide safety managers and business unit managers with historical and open claims;
- Conference with third party administrator (TPA) adjusters on individual claims as needed; and
- Review and approve reserve increases and payment authorizations requested by TPA.
- Titan America operates an internal insurance agency. As a result, the successful candidate will:
- Maintain resident and non-resident property/casualty insurance agent licenses;
- Maintain strong relationships with insurers and external brokers; and
- Oversee insurance agent functions such as issuing insurance certificates and auto ID cards as well as submitting insurance specifications directly to underwriters
- Visit plants and business unit facilities to discuss company activities, loss exposures, and risk management strategies with operational management;
- Develop the annual overall cost of risk and allocate the cost among the various business units on an equitable basis through the annual budget process;
- Provide actuaries updated loss triangles, large loss history and exposure information on a semi-annual basis to ensure reserving and budget accuracy;
- Review reserving policies and positions with external auditors;
- Prepare periodic reports on risk management for presentation to senior management; and
- Prepare annual Risk Management Department budget.