Under the supervision of the Manager of Risk Financing, the successful candidate will analyze all manner and types of contracts that the Agency enters into (e.g. construction contracts, leases, permits, easements, rights of entry, MOU’s); be able to identify exposure to liability or financial loss that may result from claims arising from bodily injury or property damage, and develop or review insurance language to ensure appropriate risk transfer to the counterparty. The Senior Risk Analyst will also assist with the purchase of the Port Authority’s insurance programs and requests for proposals for broker services agreements.
The successful candidate’s responsibilities shall include but will not be limited to:
- Review complex contracts to identify and quantify risks. Verify that adequate insurance coverage has been provided and is being maintained by all parties to a contract.
- Recommend specific insurance language and ensure that it is being implemented in the final version of the contract.
- Negotiate with vendors and lessees regarding contract language and insurance requirements.
- Work to protect the Agency against financial loss stemming from the operations of third parties by ensuring adequate risk transfer.
- Assist with and/or lead the procurement of brokerage services as needed.
- Assist with Port Authority insurance renewal, including data gathering and analysis to support underwriting disclosure for insurers/reinsurers.
- Interact with insurance brokers, claims adjusters and attorneys.
- Stay abreast of changes in the insurance marketplace.
- Prepare all required materials for authorization and Board approval process, including presentations for the Board Approval process.
- Maintain the Schedule of Insurance summarizing key information for all insurance programs.
- Communicate with Port Authority staff, insurance brokerage firms, construction contractors, TPA, claims personnel and other entities as appropriate.
- Prepare and/or participate in ad hoc risk related projects and reports.
- Must be able to efficiently review contracts and have the ability to comprehend legalese.
- Be knowledgeable in construction-related insurances as well as insurance coverage needed for operations at Port Authority facilities.
- Have a bachelor’s degree in risk management, Finance, Economics, Business, or Law and a minimum of five (5) years of experience in contractual risk analysis relating to construction or transportation operations; or
- Associate degree in risk management, finance, business, or law and minimum of seven (7) years contractual risk analysis experience in construction or for large/complex entities like the Port Authority; or
- High School Diploma and minimum of ten (10) years contractual risk analysis experience in construction of for large/complex entities like the Port Authority.
- Ability to use sound judgment in determining appropriate risk transfer and any exceptions to requirements that can be granted.
- Ability to assess risk.
- Ability to interact effectively with internal and external clients.
- Excellent verbal and written communication and presentation skills
- Strong customer service skills
- Demonstrated ability to prepare formal presentations.
- Exceptional analytical skills with attention to detail
- Must have ability to work independently or as part of a team.
- Adept to managing multiple projects under tight deadlines.
- Strong PC skills including Excel, Word and PowerPoint
How to Apply:
Interested candidates should apply to this job by clicking on the "Apply Now" button and submitting a combined cover letter and resume. The Port Authority of NY & NJ welcomes veteran and military spouse applications.
Only applicants under consideration will be contacted.
About The Port Authority:
Founded in 1921, the Port Authority of New York and New Jersey builds, operates, and maintains many of the most important transportation and trade infrastructure assets in the country. The agency's network of aviation, ground, rail, and seaport facilities is among the busiest in the country, supports more than 550,000 regional jobs, and generates more than twenty three billion in annual wages and eighty billion in annual economic activity. The Port Authority also owns and manages the 16-acre World Trade Center site, where the 1,776-foot-tall One World Trade Center is now the tallest skyscraper in the Western Hemisphere.
Equal Opportunity Employer
The Port Authority of New York & New Jersey/Port Authority Trans-Hudson (PATH) is an Equal Opportunity Employer.