What are the responsibilities and job description for the VP Risk Management position at AvalonBay Communities?
AvalonBay Communities, Inc., an equity REIT, has a long-term track record of developing, redeveloping, acquiring and managing distinctive apartment homes in some of the best U.S. markets, and delivering outsized, risk-adjusted returns to shareholders. With equal parts experience and vision, we’ve established a leadership position rooted in our purpose of creating a better way to live and that is always focused on building value for the long term.
Creating a better way to live is the purpose that binds AvalonBay associates. We take that purpose seriously and expect you will as well. By focusing on collaboration, innovation, and taking ownership of our choices and actions, we act in ways that focus on creating value for our customers, investors and associates. Your positive, professional, and consistent personal interactions make AvalonBay a great place to work.
The Role
As the VP of Risk Management, you will play a key role in identifying and mitigating risks across the organization. Reporting directly to the Chief Financial Officer, you’ll lead the Risk Management department and oversee our company’s insurance agency operations. Your work will include managing insurance programs, developing enterprise risk management strategies, and overseeing claims and loss prevention initiatives.
Key Responsibilities:
Risk Management and Strategy
Identify organizational risks and develop comprehensive risk management processes.
Create and propose risk mitigation strategies, including risk transfer, avoidance, and self-insurance.
Lead the company’s Enterprise Risk Management (ERM) committee and implement ERM strategies.
Manage two wholly owned foreign captive insurance companies, including financial decisions and policy pricing.
Insurance Management
Procure corporate insurance for all coverage lines, negotiating terms, conditions, and pricing with carriers.
Review and update insurance-related contract language, focusing on construction and real estate development.
Oversee the renter’s insurance program, ensuring compliance with state regulations and efficient operations.
Act as the company’s designated insurance agent, supporting day-to-day agency operations.
Claims and Loss Control
Oversee claims for general liability, workers’ compensation, and property, working closely with third-party administrators and insurers.
Manage catastrophic claims and emergency situations as a key crisis response leader.
Develop claims and risk management training programs for the organization.
Provide quarterly claims data and loss reserve reports to internal stakeholders.
Leadership and Collaboration
Partner with business units to enhance safety training and implement loss control measures.
Oversee the Risk Management Information System (RMIS) to ensure accurate analytics and reporting.
Collaborate with cross-functional teams to address insurance-related inquiries and operational challenges.
Qualifications:
Education:
Bachelor’s degree in a related field.
Licenses/Certifications:
Associate in Risk Management (ARM) preferred.
CPCU designation or coursework preferred.
Active Property/Casualty insurance agent license required.
Experience:
12 years of experience in risk management and claims, with a proven ability to lead and execute strategic initiatives.
Skills:
Strong leadership and team management abilities.
Exceptional communication skills, with the ability to deliver presentations and draft reports.
Proficiency in Microsoft Office applications and risk management software.
Analytical mindset with experience in budgeting and financial planning.
How AvalonBay Supports You
We know that our teams are the beating heart of our success and we’re committed to showing our appreciation.
We offer:
Comprehensive benefits — health, dental and vision, 401(k) with company match, paid vacation and holidays, tuition reimbursement, an employee stock purchase plan and more. Click on Benefits (https://jobs.avalonbay.com/benefits) for information.
Growth based on achievement and promotion from within.
Associate recognition (a company-wide recognition program that celebrates associate efforts and successes in contributing to the overall success of the organization – including destination awards, ‘AvalonBay’s Very Best’ recognition program and others!).
A 20% discount on our incredible apartment homes.
A culture built on purpose and our core values - A Commitment to Integrity, A Spirit of Caring, and A Focus on Continuous Improvement.
Additional Info
AvalonBay is proud to be an equal opportunity employer and is committed to an inclusive and diverse work environment free of discrimination and harassment. We believe that in order to achieve our purpose of creating a better way to live, we must recruit, develop and retain associates with a wide range of backgrounds, experiences and perspectives and create an environment that encourages all voices to be heard, understood and appreciated. With this we know we can do great things.
AvalonBay makes employment decisions without regard to a person’s race, ethnicity, color, religion, sex, national origin, sexual orientation, gender identity, pregnancy (including childbirth, lactation or related medical conditions), age, physical or mental disability, genetic information (including characteristics or testing), citizenship status, military or veteran status, or any other status protected by the law.
For California residents, if you elect to apply to AvalonBay you accept the AvalonBay California Personnel Privacy Notice (https://www.avaloncommunities.com/california-personnel-privacy-notice/)
