What are the responsibilities and job description for the Corporate Planning & Management-Corporate Insurance-Dallas-Associate position at Goldman Sachs?
Job Description
The Corporate Insurance & Advisory function (Corporate Insurance) at Goldman Sachs is responsible for managing property, casualty, and management liability insurance needs of the Firm and its various investing businesses. The group resides in the Corporate Planning & Management Division with focus on first line operational and risk resiliency and reports into the Chief Financial Officer. Primary responsibilities include mapping operational risk to insurance solutions, procurement and management of the firm’s insurance programs, insurance diligence and advisory across its investing business. The team is seeking an Associate with insurance and/or risk management experience to assist in executing the firm’s insurance strategy.
Primary Responsibilities
The Corporate Insurance & Advisory function (Corporate Insurance) at Goldman Sachs is responsible for managing property, casualty, and management liability insurance needs of the Firm and its various investing businesses. The group resides in the Corporate Planning & Management Division with focus on first line operational and risk resiliency and reports into the Chief Financial Officer. Primary responsibilities include mapping operational risk to insurance solutions, procurement and management of the firm’s insurance programs, insurance diligence and advisory across its investing business. The team is seeking an Associate with insurance and/or risk management experience to assist in executing the firm’s insurance strategy.
Primary Responsibilities
- Analyze, gather, and interpret information necessary for business, claims, and management reporting
- Prepare insurance renewal submissions, collection of underwriting data and coordination with internal stakeholders and operating partners
- Ensure the source and flow of data underneath all of the analytics is accurate
- Utilize natural catastrophe model outputs and actuarial studies to review risk exposure and modify insurance coverage
- Perform analysis of risk exposures and insurance claims analysis across the firmwide portfolio
- Maintain schedule of insurance coverage and key data inputs (including carriers, limits, key terms, dates, premium, etc.).
- Assist in global insurance premium allocations and quarterly adjustment calculations as needed
- Post renewal policy administration including but not limited to premium payment tracking, global policy issuance and payment coordination
- Participate on insurance advisory and due diligence across corporate, real estate, renewable energy and infrastructure transactions
- Manage and track claims related activity including documentation, loss runs, claim reviews, internal and external communications with brokers / carriers
- Administer and ensure data integrity in Risk Management Information (RMIS) system
- Conduct global contractual reviews of RFPs, purchase and sales agreements, and vendor agreements in partnership with Legal and Procurement to provide risk management input
- Monitor vendor key performance indicators, vendor on-boarding coordination as required
- Assist project management team on platform project initiatives (procedures, and data analytics and reporting, and applicable departmental initiatives)
- Bachelor's Degree
- Minimum 5 years of experience in insurance risk management (e.g. in-house risk management team, broker or insurance company) or similar applicable professional experience
- Ability to identify and synthesize operational risk data and insurance mitigation
- Strong organizational skills with experience working to meet deadlines in a highly dynamic environment
- Excellent verbal and written communication skills
- Enthusiastic, intellectually curious and desire to understand the different business activities of the firm
- Ability to work in a fast-paced environment, with a strong delivery focus
- Experience working in Risk Management Information Systems (RMIS) a plus
