What are the responsibilities and job description for the Insurance Manager position at Vesta Realty, LLC?
Vesta Realty is looking for talented individuals with the drive to succeed and grow with our company. Voted a “Great Place to Work” in 2024, Vesta Realty strives to provide the career growth and professional development opportunities that are vital to the success of our workforce. Since being established in 2017, Vesta has been recognized as one of the Top 50 Multifamily Property Management Firms in the United States. We know that this wouldn’t be possible without the efforts of our diverse team and dynamic leadership. As one of the fastest-growing companies in the multifamily industry, we are excited about the opportunities that await you with the Vesta family.
*This is not a remote position. This is an onsite position*
JOB TITLE: Insurance Manager
JOB NUMBER FLSA Status: Exempt
DEPARTMENT DIVISION: Vesta Realty LLC
GROUP: Residential Property Management
REPORTS TO: Chief Investment Officer
JOB SUMMARY, DUTIES AND RESPONSIBILITIES, JOB REQUIREMENTS
SUMMARY
The role involves managing and overseeing all insurance policies related to the company’s multifamily portfolio, corporate offices, and autos. This includes working directly with insurance companies, handling all aspects of insurance claims, negotiating contracts and renewals, ensuring compliance with insurance requirements during acquisitions, and implementing risk management strategies to minimize exposure. The role also requires collaborating with internal teams, coordinating insurance inspections, auditing policies, and providing ongoing education on insurance-related matters to property managers and senior leadership.
DUTIES AND RESPONSIBILITIES
Manage and oversee all insurance policies for the company’s multifamily portfolio and corporate office(s) and autos, including property, liability, and umbrella policies.
Work directly with insurance companies (complete all applications, answer any questions they have, provide details for acquisitions/dispositions, etc)
Develop and implement risk management strategies to minimize exposure and ensure adequate coverage across all properties.
Review and negotiate insurance contracts, renewals, and endorsements to ensure the best coverage and pricing.
Work closely with internal teams (Acquisitions, Operations, Legal) to ensure insurance requirements are met during property acquisitions, refinances, and dispositions.
Handle insurance claims, from filing to resolution, ensuring timely and effective communication with insurers, adjusters, and property managers.
Monitor and assess property risk factors, working with external brokers and carriers to evaluate insurance needs.
Communicate with insurance inspectors and schedule any inspections with on-site teams. Provide inspectors with any requested/needed documents and information.
Conduct regular audits of insurance policies and ensure compliance with all lender and investor requirements.
Provide ongoing education and support to property managers and senior leadership on insurance-related matters.
Stay updated on industry trends, insurance market changes, and best practices in risk management.
EDUCATIONAL REQUIREMENTS
Highschool diploma or equivalent.
Bachelor's degree in Business Administration, Finance, Risk Management, or a related field. Or equivalent working experience.
Certification in insurance, such as ARM (Associate in Risk Management), CIC (Certified Insurance Counselor), or CPCU (Chartered Property Casualty Underwriter), preferred.
In-depth knowledge of insurance policies (property, liability, umbrella) and risk management principles.
Familiarity with real estate or multifamily property insurance is a plus.
Experience working with insurance brokers and understanding insurance compliance and industry regulations.
PHYSICAL REQUIREMENTS
Occasional standing or walking within the office or to other facilities.
Ability to sit for extended periods (up to 8 hours with breaks).
Occasional bending, reaching, and stooping.
Frequent use of hands for typing, writing, and handling documents.
Ability to operate standard office equipment (e.g., computers, copiers, and phones).
Adequate vision for reading and computer use (corrective lenses acceptable).
Ability to hear and communicate effectively, including via phone.
Ability to lift and carry items weighing up to 25 pounds occasionally (e.g., office supplies or small packages).
Ability to drive a golf cart.
Ability to climb stairs.
Occasional travel to company properties or off-site meetings, as needed (if applicable).
