Responsible for the execution of the annual and ad hoc purchase of various insurance products. Relationships will be developed with insurance brokers, insurance underwriters, as well as various business leaders throughout NetJets, in order to accomplish the long term goals of Risk Management. Scope of department is global, thus all operating entities are the responsibility of this position.
15%: Daily departmental transactions: involvement in claims process when needed or requested; Owner inquiry resolution; third party contract review as requested; provision of certificates and other insurance documents for Owners and vendors as required; resolution of all employee insurance requests for information or explanations of insurable events (other than health care insurance).
15%: Education and communication: educate Owners and NetJets team members on all insurance related topics. For Owners, this includes the explanation of insurance policy terms and conditions, endorsements; distribution of insurance certificates, policies, endorsements and amendments. For NetJet team members, this includes proactive insurance education for a general audience (i.e. Connect for Success class), specific departmental risk analysis and curriculum development. Direct involvement in the annual insurance forum for each location (currently three).
15%: Insurance policy renewals: monitor the entire spectrum and calendar of the regular insurance policy and broker renewal cycle. Work with business leaders, FP&A, and Accounting to analyze prior year's costs for assessment at each renewal. Work with SVP RM to develop negotiation strategy for each renewal instance. Communicate with business leaders on any additional or terminating coverage or increases or reductions in coverage to consider for each renewal.
10%: Departmental Accounting and FP&A: prepare all recurring and ad hoc financial accounting and reporting for the department, including monthly and annual invoice approval; addition and removal of aircraft from insurance policy as deliveries and disposal occur; reductions ( and potentially increases) in aircraft hull value as the market warrants for insurance coverage; worksheets to allocate accounting for invoices; department financial summary monthly and YTD; budgeting and forecasting as required by FP&A; monthly and YTD claims reporting summaries; verification of all cost figures provided by brokers and underwriters.
10%: Department metrics: prepare all recurring and ad hoc metrics for the department, including: daily event log; time to for resolution per event; aviation claims metrics (response time, resolution time, claim volume and costs, claims cash flow analysis, open claims aging); preparation of monthly goal reporting.ic departmental risk analysis and curriculum development. Direct involvement in the annual insurance forum for each location (currently three).30%: Special projects: involvement and creation of special projects involving or sponsored by the Risk Management department, potentially including: creation of Enterprise Risk Management concept at NetJets; assessment of additional potential departmental functions (i.e. health care insurance procurement (not administration), etc); employee insurance newsletter (including education on personal non-benefit insurance products); Owner insurance newsletter; all financial analysis and reporting involving the SVP RM.
Course of Study/Major: Business
Related Work Experience: 5-10 years business career, 1-3 within insurance industry or professionKnowledge and past experience of underwriting policies, contracts and claims. Ability to analyze data and create meaningful reports for management. Able to handle fundamental departmental accounting issues, and forecast and manage budgets. Ability to interact with Owner base, senior executives, business leaders, vendors, and attorneys. Ability to be on-call for Emergency Response Plan. Travel requirements are 4 - 6 trips per year, 10 - 15 nights, and valid passport for foreign travel.