What are the responsibilities and job description for the VP Risk Management position at AvalonBay?
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.
Salary : $136,000 - $222,000
