Portfolio Risk Lead

National Grid Renewables • Full-time • Bloomington, Minnesota • 1w ago

National Grid Renewables Development, LLC is hiring a creative, results-driven Portfolio Risk Lead to join our company, located in Bloomington, Minnesota.
Every day we deliver safe and secure energy to our customers. The pace of change in society and our industry is accelerating and our expertise and track record put us in an unparalleled position to shape the sustainable future of our industry.
To be successful we must anticipate the needs of our customers, reducing the cost of energy delivery today, and pioneering the flexible energy systems of tomorrow. This requires us to deliver on our promises and always look for new opportunities to grow, both ourselves and our business.

Job Purpose
The Portfolio Risk Lead serves as a functional partner to the business and provides insurance, claims and risk management support to said business.
The Portfolio Risk Lead will predominantly partner with and focus on the unique insurable risks impacting National Grid Renewables in the US. The role will involve providing insurance consultancy and creative risk management solutions for existing operating projects, new projects under development, and technologies. The Portfolio Risk Lead will be responsible for identifying insurable risks and managing them through cost effective provisions of insurance solutions via insurance captives, commercial insurance markets or contractual risk transfer. The Portfolio Risk Lead will support global insurance and reinsurance programs by inputting to strategy, data collection and representation of material matters and exposures.
This role reports to the company’s General Counsel.

Key Accountabilities

Deliver results by leading in the assessment, review and recommendation of insurance requirements for designated businesses and investment projects across National Grid Renewables. Implement the approved insurance strategy to ensure appropriate protection of National Grid Renewable's assets, insurable liabilities and new business developments.
Deliver results by leading special studies to ensure placement of coverage with proper limits of coverage, deductibles and retentions.
Set direction by maintaining up to date knowledge of insurance market influences on designated lines of insurance coverage to ensure National Grid Renewables benefits or is protected from any market developments.
Advise business units in the context of entering into commercial contracts on issues related to risk and insurance.
Deliver results by providing credible data and analysis to support underwriting information provided to insurance markets to ensure full disclosure of all material matters.
Seek to drive down insurance costs on renewable energy projects by presenting empirical evidence to brokers and insurers to counter inappropriate or inaccurate assumptions underlying the pricing of commercial insurance.
Explore captive insurance and other opportunities and structures for NG Renewables to significantly drive down insurance costs.
Proactively work with key teams within business units to identify project development locations that mitigate the risk of excessive insurance pricing or imposition of coverage sublimits.
Monitor and report on: (i) operating project insurance risk exposure; and (ii) trends in the commercial insurance markets to the company’s risk committee.
Drive performance improvements by establishing and sharing best practices across the company while challenging peers and maintaining key relationships.
Identify and resolves various risk and insurance related operating issues impacting stakeholders.
Accountable for ensuring teams adhere to and support financial and non-financial controls.

Qualifications

At least 7 years of experience in an insurance brokerage capacity, as either an in-house account manager or as an underwriter.
Knowledge of usual lines of insurance coverage, including insurance products to cover certain tax credit risks, purchased by an entity the size of National Grid Renewables, with a detailed understanding of these lines of coverage.
Experience in leading and placing insurance policies in the US or global insurance markets, including the Lloyd’s syndicates.
Excel skills required including knowledge of pivot tables, lookups, and the ability to build complex charts and graphs.
Demonstrable experience within the insurance and risk management profession gained from in-house positions, insurance underwriting or brokerage experience - renewable energy (preferred).
Experience in reviewing and negotiating insurance terms and conditions including policy wording reviews.
Excellent written / oral communication and presentation skills and follow-up.
Ability to manage time effectively, set priorities and meet deadlines.
ARM/CPCU qualified or in progression.