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Corporate Insurance Services - Vice President

Req #: 180002713
Location: New York, NY, US
Job Category: Accounting/Finance/Audit/Risk
Job Description:

Corporate Insurance Services (CIS) is part of Global Supplier Services reporting into Global Finance. The Department is responsible for negotiating, structuring and administering worldwide insurance programs for JPMorgan Chase & Co. (JPMC) businesses and operations for the purpose of providing a level of balance sheet protection against significant accidental losses, and compliance with regulatory and third party obligations. 


CIS also provides advisory services across the organization in connection with property damage and personal injury loss control, and has established best practices and guidelines for LOB and Corporate functions to follow when negotiating and making representations within insurance provisions in agreements with clients, counter-parties, vendors and lessors, etc.   

Job Description:

The Corporate Insurance Vice President will directly support J.P. Morgan Asset Management- Real Estate Americas and is responsible for the end to end renewal process of insurance programs, overseeing claims and loss control processes and providing advisory services related to Asset Management’s Property, Casualty and Environmental master programs.  This position will report to an Executive Director within CIS responsible for the management of Line of Business insurance programs including Asset Management and Global Commodities and other duties relevant to firm wide and CIS initiatives.  


This position will be specifically responsible for and be involved in the negotiating, structuring, administrating and monitoring of Asset Management’s Property, Terrorism, General and Auto Liability, Umbrella/Excess Liability and Pollution Legal Liability. 

Job Responsibilities:
  • Initiate and manage the policy renewal process from the initial stage of compiling underwriting information, preparation of pre-renewal summary reports, through negotiating policy terms and conditions, binding coverage, allocating premium, determining midterm rates, ensuring the receipt of the renewal policies comply with binders, and preparing post renewal summary reports.
  • Oversee the acquisition process of each new property to be enrolled under Asset Management’s insurance programs. Ensure properties are adequately insured while also proactively monitoring CAT portfolio aggregates by using such tools as RMS
  • Manage the divestment process by providing the necessary loss related information and ensuring the appropriate notification has been received
  • Conduct contract reviews of vendor and tenant lease agreements and negotiate directly with third parties on behalf of Asset Management
  • Negotiate all insurance carried by Asset Management’s property managers or joint venture partners to ensure the recommended levels of insurance are maintained
  • Support Asset Management’s Development Engineering Group (DEG) in providing guidance on development insurance requirements and other considerations for new construction projects partnering with developers and general contractors
  • Manage lender requirements on each acquisition and negotiate directly with lenders and/or their selected agency
  • Monitor fund portfolios and client portfolios and comply with specific requests and requirements as needed
  • Attain a strong understanding of the nature of the Asset Management- Real Estate Americas business to develop policy programs and negotiate contracts that accommodate and are receptive to the changing needs of a growing portfolio
  • Support Asset Management in interpreting policy terms and conditions (including partner’s programs) and conducting training seminars
  • Prepare written recommendations and special reports for Senior Management as a pre-condition to renewing current programs, implementing new programs, and accepting proposed one-off transactions involving substantial costs.
  • Serve as a liaison at claims meetings and manage third party relationships including TPAs
  • Lead all loss control efforts including managing carrier demands and property manager relationships and contribute to the analysis of loss information towards the identification of trends and recommend corrective measures  to control, reduce or eliminate future losses

  • Bachelors degree with a concentration in business, insurance and/or risk management. MBA preferred.
  • 10 years experience in an insurance risk management department, brokerage firm, or insurance company
  • In depth knowledge of a broad scope of insurance products, particularly Property, Casualty and Construction related insurance
  • Strong oral and written communication skills.
  • Ability to analyze financial information.
  • Ability to create concise reporting for Senior Management.
  • CPCU or ARM certification a plus.
  • Proficient in Excel, Word and Powerpoint.
  • Knowledge and experience using Risk Management Information Systems

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