The Corporate Insurance & Advisory function (Corporate Insurance) at Goldman Sachs is responsible for managing commercial insurance needs of the Firm and its various investing businesses. The team provides active global risk management across the firm with a goal to transfer risk via insurance products to mitigate the firm's operational risk exposures globally. Additional responsibilities include insurance diligence and advisory across the firm's investing business and mapping operational risk to insurance solutions.
The team is seeking an experienced Risk Manager with subject matter expertise across broad corporate commercial insurance products including but not limited to property, casualty, financial lines, and marine insurance.
Candidate should have a strong acumen in insurance and/or risk management to assist in identifying and executing on the firm's insurance strategy. Ability to demonstrate advanced insurance knowledge applicable across the firm's global financial and advisory business, including across real estate and commodities activities.
RESPONSIBILITIES
- Manage the firm's property and casualty real estate insurance; provide coverage and program structure analysis, facilitate program rate analysis, renewal, and marketing activities, and provide recommendations as needed.
- Develop, implement, and manage a comprehensive insurance program for the firm's operations.
- Oversight and administration of insurance programs. Participate in the annual renewal process including, but not limited to, review of underwriting data, portfolio structural analysis, catastrophic modeling, carrier discussions, review of quotations, and approval of premium allocation schedules.
- Collection and analysis of underwriting information, placement of appropriate coverages, review of binders, endorsements, and premium invoices.
- Identify and quantify exposures, recommend and deliver insurance solutions.
- Ensure accuracy of terms and conditions and adequacy of insurance. Negotiate with insurers in conjunction with brokers.
- Ensure the firm's insurance contractual and regulatory obligations and requirements are met.
- Conduct insurance diligence reviews consisting of contractual reviews and insurance adequacy reviews.
- Experience with global insurance program structures; local regulations requirements and restrictions.
- Experience with risk and catastrophic risk modeling analysis.
- Collaborate with the global operational risk team to evaluate the firm's operational risks and new activities to work through hypothetical claims scenarios and expected insurance response.
- Monitor litigation landscape and external claim trends to work with the broader insurance team and brokers to advise on policy contract enhancements.
- Advise deal and investing desks on insurance due diligence, perform contract reviews for new investments and business activities.
- Manage insurance budgeting and forecasting of insurance premiums, broker fees, and costs.
- Complete insurance allocations/insurance budgets and coordinate global invoicing.
- Support internal requirements for vendor management, KPI reviews, and RFPs.
- Ability to collaborate with internal teams, stakeholders, firm leadership, and external partners.
- Communicate effectively with internal stakeholders to ensure alignment of business and risk strategies.
- Lead department projects and initiatives.
QUALIFICATIONS
- 10 years+ of experience (e.g., in-house risk management team, broker, or insurance company).
- Bachelor's degree required, CPCU, ARM designation a plus.
- Ability to identify and synthesize operational risk issues and insurance mitigation.
- Prior management and training experience.
- Strong organizational skills with experience working to deadlines in a highly dynamic environment.
- Global financial institution/asset management firm experience preferred.
- Strategic thinker willing to challenge the status quo and think creatively about insurance products.
- Strong interpersonal skills, including the ability to collaborate with and influence colleagues and external insurance stakeholders.
- Excellent verbal and written communication skills, including the ability to present to senior stakeholders with impact and influence.
- Insurance captive experience.
- Ability to periodically travel.
- Ability to lead and influence outcomes.
- Enthusiastic, intellectually curious, and desire to understand the different areas of the firm.
- Ability to work in a fast-paced dynamic environment, with a strong delivery focus.
- Possess a bachelor's degree at a minimum.
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