Associate, Insurance

Invenergy drives innovation in energy. Powered by decades of entrepreneurial experience and unparalleled execution, we solve the energy challenges facing our customers and communities. We provide power generation and storage solutions at scale around the world to create a cleaner energy future. We develop. We build. We own. We operate. We are Invenergy.

This position will be open for application for at least 3 calendar days from the posting date. This position will remain open for application based on business need, which may be before or after the 3-day posting window.

Job Description

The Associate, Insurance, will report to Manager, Insurance, and support with execution of insurance strategy of a multinational portfolio of wind, offshore wind, solar, energy storage, thermal projects in various lifecycle stages. This role involves identifying insurable risks and issues, and supporting the development and implementation of appropriate insurance risk management solutions.

Responsibilities

• Support Invenergy insurance team in coordinating insurance efforts from development through to operational phases of all projects, analyzing and evaluating insurable risks and potential risk mitigants.
• Manage project insurance placements including identifying required insurance coverages and conditions, collection of underwriting information, completion of requiring insurance applications and participation in insurance meetings. Collaborate with various departments including Asset Management, Operations, Engineering, Safety and more, to identify, collect, validate, organize, and present underwriting data to support administration and management of Invenergy’s global insurance portfolio.
• Manage the administrations of insurance contracts and support Invenergy’s insurance team in negotiations with insurance brokers, insurance companies and project contractors (including EPC/BOP and modules/turbine suppliers) on insurance coverages and conditions.
• Coordinate with internal and external stakeholders (broker, JV partners, lenders, clients, EPCs, OM/asset management service providers, insurance brokers, lenders insurance consultant) in relation to any insurance matters.
• Maintain accurate records of project pipeline, insurance policies, and project related documentation. Review insurance policies and endorsements for accuracy and completeness. Ensure that any required policy changes are completed in a timely manner and documented accordingly.
• Support processing of insurance cost allocation and payments.
• Support insurance activities related to merger and acquisition activities and underwriting of new entities, assets and of new construction projects.
• Support financing and refinancing in the US and international projects. Coordinate and assist with lenders and counterparty insurance certificates, broker letters and officer certificates. Maintain accurate records of lender waivers.
• Assist with the preparation of monthly, quarterly, and annual risk reports for various committees and boards. Assist in preparing loss analyses and identifying opportunities to reduce Invenergy’s total costs of risk. Support the preparation of annual insurance budgets.
• Maintain and audit statements of values, work with insurers, brokers and internal stakeholders to ensure that all critical underwriting information is identified and reported in a timely manner.
• Develop insurance presentations to use for internal and/or external purposes.
• Assist with a wide range of claim related activities – claim notice intake and reporting, and maintenance of accurate records of claims across all lines of coverage. Generate regular claim reports and maintain open claims status by working closely with the insurance team, Asset Management, and other internal departments.
• Research and resolve insurance premium invoice discrepancies, and provide support to the insurance team in the management of company assets under insurance coverage; project site fleet of vehicles, corporate and project office location assets, projects’ statements of value, annual projects’ production, and leased equipment at project sites.
• Assist with the scheduling and coordination of annual risk engineering reports; reconcile and follow up on recommendations and Plant Manager responses.
• Develop an understanding of the department’s priorities and flag for review with internal or external parties.
• Assist with special projects including the “open items” list, and work closely with outside insurance broker to develop and communicate expectations.
• Assist with onboarding of new renewable projects in the development stage.
• Serve as subject matter expert in assigned market region and collaborate inter-departmentally to trouble-shoot production or onboarding steps.
• Mentor junior team members on navigating market nuances and procedures.
• Identify process improvements and automation opportunities to improve invoice production timeliness and achieve other efficiencies.
• Provide support to ad hoc requirements as they may arise.

Minimum Qualifications

• Bachelor’s degree in insurance, risk management or other relevant majors.
• 3+ years of working insurance or risk management industry experience.
• Eligible to work in the United States without the need for employer visa sponsorship now or in the future.

Preferred Qualifications

• Insurance or risk management designations.
• Proven track record evidencing commitment, endurance, initiative & drive, professional learning & development, and high performance.
• Power and/or natural gas experience is preferred.
• Track record of being able to work reliably under tight timelines, experience training junior team members and propose, design and implement process improvements.
• Strong analytical and problem-solving skills and good attention to details.
• Exceptional organizational and time management skills to complete settlement responsibilities in accordance with internal and external deadlines.
• Must be able to work independently with minimal oversight as well as in a team setting.
• Exhibit effective written and oral communication skills, including email, Skype and Microsoft Teams video conferencing, phone, and in-person communications.
• Must be a self-starting and motivated team player who is able to efficiently become skilled at new systems and effectively manage deadlines.
• Ability to communicate verbally and in writing in Spanish or Japanese is a strong asset.

Base Pay

85,000.00 - 110,000.00 USD Annual Bonus: 20% - 30%

The base pay range reflects the minimum and maximum target salary for the position. Invenergy considers a number of factors when determining base pay offers such as the scope and responsibilities of the position and the candidate's experience, education and skills.

In addition to base pay, the total annual compensation package may also include eligibility to participate in our bonus program(s) which are designed to reward individual and company performance. Your recruiter can share more about bonus eligibility for this position during the hiring process.

Invenergy offers a variety of other benefits including medical, dental and vision insurance, 401k, paid time off, etc.

Invenergy LLC is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to, among other things, race, color, religion, sex, sexual orientation, gender identity, national origin, age, status as a protected veteran, or disability.