Sr Commercial Lines Account Executive

Foundation Risk Partners, one of the fastest growing insurance brokerage and risk management consulting firms in the US, is adding a Senior Account Executive to their Risk Management Consulting Practice in the NJ Metro Region. Job Summary:This position will act as the outsourced risk manager for approximately 20 domestic and international clients with combined annual property and casualty insurance premiums of over $30 Million. Client industries include construction, real estate, manufacturing, private equity and hospitality and others. Manage the insurance and risk management programs of those clients including the placement of all traditional, non-traditional insurance and surety products for all clients.Essential Functions:Risk Management renewal responsibilities include:Gathering, summarizing and presenting all renewal exposures prior to the renewal of all lines of property and casualty insurance coverageDevelop service requirements for potential insurance brokers and carriers; Interview, vet and select the insurance brokers requested to bid on the insurance programsDesign insurance policy language specifications; Prepare insurance renewal submissions and provide them to the marketplaceReview and analyze all insurance proposals and negotiate the terms of coverage as well as premiums and address any additional underwriting questions from the marketplaceRecommend to clients the insurance programs best suited for their particular exposures and risksOversee the placement of winning insurance bids; ensure binders, policies and endorsements are issued correctly and if not, request the necessary amendments to be madManage the day to day needs of clients' risk management programs which include:Manage clients' internal risk management team/insurance departmentsReport to CFO on implementation and management of clients' corporate risk control programsCounsel senior management on transactional risk exposures through use of economic models and risk vs. benefit analysesResponsible for overseeing all insurance broker and other third party risk management vendors to ensure they are working in clients' best interestsSet up and coordinate clients' disaster recovery and business continuity plansReview, draft and negotiate the insurance provisions in, and provide opinion on, all vendor contracts, leases, loans and other types of contracts using all methods of contractual risk transferEnsure compliance of insurance certificates requested by vendors of clients and also review certificates received by clients from various third parties to ensure acceptabilitySchedule and coordinate all loss control inspections by insurance carriers, as well as property valuations by appraisers; Address any loss control concerns and amend valuations with carriers based on appraisalsSet up and train clients' claims staff as well as review all incoming first party and third party claims; Report all claims to the appropriate policies and insurance carriersRun quarterly claims review meetings to ensure all losses are being adjusted in an efficient manner and that all reserves are set at appropriate levelsCreate a loss pick and forecasting models using current Loss Cost Factors to anticipate claim trendsReview loss frequency and severity by claim type to establish patterns and use that knowledge to decrease future occurrencesCoordinate the claims recovery process and assist in the adjustment of all losses for clients' maximum benefit and ensure receipt of appropriate paymentsSet up and manage captive insurance programs; present underwriting exposures negotiate pricing, advise on cash management and perform financial statement reviewAdditional Skillsets/Job FunctionsDue Diligence project team for Private Equity clients. Responsibilities include:Pre-acquisition risk management and insurance reviews of the target company. Confirm the acquisition is free of problematic and costly insurance and risk management issuesEstablish benchmarks to evaluate insurance transactions and offersSolicit competitive bids for new insurance coverage to address the newly acquired entity's exposuresAnalyze, negotiate and bind the appropriate coveragesTransition new entity into clients' master programs if appropriate, otherwise move the coverage onto a stand-alone programPost-acquisition portfolio company managementCreate Master property insurance programs for portfolio companies to maximize terms of coverage and buying power in the marketplaceNew Construction practice. Duties included:Design the insurance specifications for residential and commercial ground up and rehabilitation projects ranging in size from $100 Million to $2 BillionOversee the acquisition and management of all insurance policies including the construction liability and builders risk policies for both traditional insurance programs and Wrap-Up (OCIP & CCIP) programsTransition the completed projects onto either stand-alone policies or onto the clients' master insurance programsCompetencies & Qualifications: NJ P&C licenseAMS360 or EPIC 10+ years experience with construction, real estate and manufacturing client - highly preferredRemote role - prefer EST candidates but will consider other time zones based on level of experienceThis range represents the estimated low and high end of the salary range for this position. Actual salaries will vary and may be above or below the range based on factors including but not limited to performance, location, and experience. The range listed is just one component of FRP's total compensation package for employees.Pay Transparency Range$100,000-$150,000 USDDisclaimer:While this job description is intended to be an accurate reflection of the job requirements, management reserves the right to modify, add, or remove duties from particular jobs and to assign other duties as necessary.Equal Employment Opportunity (EEO):FRP provides equal employment opportunity to qualified persons regardless of race, color, sex, religion, national origin, age, sexual orientation, gender identity, disability, veteran status, or any other classifications protected by law.Benefits: FRP offers a comprehensive range of health-related benefit options including medical, vision, and dental. We offer a 401(k) with company match, company paid life insurance, STD, LTD and a generous PTO policy starting at 18 days per year plus 10 paid holidays & 2 floating holidays!