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Invenergy

Manager, Insurance (Captive)

Salary$120k – $139k
LocationChicago - OSW
Work modehybrid
Typefull-time
Company size1,001–5,000 people
First seen3d ago
Last seen1d ago
About the company
Invenergy is North America’s largest privately held developer, owner, and operator of power infrastructure. With 25 years of trusted execution, we deliver reliable, affordable energy through a diverse portfolio that includes natural gas, solar, land-based wind, energy storage, transmission, and domestic manufacturing. Headquartered in Chicago, we develop, own, and operate large scale projects that power communities and support the energy future.
Benefits
Invenergy follows a hybrid schedule, working in office Monday through Thursday and remotely on Fridays if work permits.
Hiring process
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
Position Overview:
Reporting to the Vice President, Insurance, the Manager, Insurance (Captive Management) will be responsible for managing all aspects of the day-to-day operations, reporting, and strategic planning for Invenergy’s captive insurance company. This role partners closely with leaders and teams across Invenergy, including Legal, Finance, Project Management, Asset Management, Finance Operations, IT, etc. as well as third-party service providers in identifying, evaluating, and managing insurance placement and program operation of captive insurance products. This person will be the SME for expanding Invenergy’s use of its captive insurance company.
Responsibilities:
•
Leverage relationships with insurance brokers, reinsurers, and fronting agents to identify potential captive insurance product structures, review feasibility studies, and compare policy terms and conditions to that of outgoing/ceded insurance placements.
•
Work collaboratively with business leaders and teams across the organization to perform risk assessment and cost-benefit analyses in evaluating placement of insurance products in Invenergy’s captive insurance company compared to placement in insurance markets. Perform cash flow and sensitivity analyses, including expected capital contributions, reserve collateral requirements, available distributions, etc.
•
Prepare investment committee presentations for new captive insurance product structures and communicate cross-functionally to gain stakeholder buy-in.
•
Coordinate with Accounting, Tax, Treasury, etc. and any captive services providers to ensure financial and operational records are maintained and reported.
•
Oversee timely and efficient management, negotiation, and review of insurance and reinsurance applications and policy documentation.
•
Oversee premiums billing, manage collateral requirements, and review reserve/IBNR requirements, coordinating with Accounting, Treasury, FP&A, etc. as needed.
•
Oversee and support claims management.
•
Manage communication and compliance with state regulators and lead submissions for any business plan changes to the insurance program, .
•
Support the preparation for and participation in board meetings.
•
Support other corporate and project insurance responsibilities as needed, including risk assessments in setting insurance program limits, claims management, etc.
Minimum Qualifications:
•
Bachelor’s degree in Finance, Insurance Risk Management, Engineering, or other relevant majors
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5+ years of relevant work experience, such as Insurance, Risk Management, Finance, etc. experience
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Strong analytical and problem-solving skills and great attention to detail
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Strong oral and written communication skills – able to communicate clearly and concisely
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Eligible to work in the United States without the need for employer visa sponsorship now or in the future
Preferred Qualifications:
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Power, renewables, oil and gas, construction, or similar industry experience.
•
Working experience with setting up and operating captive insurance companies/cells.
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Commercial Insurance experience including, property, casualty, forced outage, capacity performance, parametric, tax and representations and warranties insurance is preferred.
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Track record of being able to work independently under tight timelines, managing multiple priorities, while also overseeing the work of others,
•
Comfortable dealing with rapid growth in constantly changing internal and external environments – able to adapt to change and embrace ambiguity.
Base Pay
120,000.00 - 139,000.00 USD Annual
Bonus: 25% - 40%
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.
Legal
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.
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