Job Details
West Creek 3 (12073), United States of America, Richmond, Virginia
Principal Associate, Insurance Strategy & Management
Insurance Strategy & Management's objective is to partner with internal clients and an external supplier network to minimize insurance-related risks to Capital One by utilizing world-class risk management and insurance marketplace capabilities. This role is an exciting opportunity for those looking to further their career in risk management and insurance.
Principal Risk Specialist will be a primary liaison to our lines of business across the enterprise and will play a performing role in the Insurance Strategy & Management function, partnering with lines of business to discuss the intersection of business needs and insurance solutions. This associate will act as a trusted thought partner and a creative problem solver, tapping all available resources internally and externally to identify appropriate solutions and see them through to delivery. This associate will also be responsible for leading contractual risk transfer reviews for third party contracts, as well as supporting a broad range of risk management and insurance initiatives, building productive relationships with our diverse stakeholders. The Principal Risk Specialist will also perform as a project manager as it relates to Capital One's captive insurance entity activities, including collaborating on future captive insurance risk transfer strategy work.
Specific responsibilities include, but are not limited to:
- Monitor and analyze new and changing risk exposures for Capital One's lines of business and functional areas, including opportunities to facilitate and enable LOB initiatives
- Lead contractual insurance risk transfer consultation for the ISM team. This will include managing the relationships with Enterprise Supplier Management (ESM), UK/Canada/India Supplier Management, Third Party Risk Management, Legal, and other key contracting stakeholders across the enterprise.
- In this role, you will be responsible for advising on insurance risk transfer end-to-end through the contracting process. This will involve partnering with contract managers, third party managers, and other key stakeholders internally on a daily basis.
- Identify external resources from our insurance broker or insurers to advise on industry norms, legal or regulatory requirements, and best practices, as needed
- Provide periodic insurance risk transfer training sessions for stakeholders, including written training resources and self-guided job aids, managing related PSPs, and consulting with Third Party Risk Management on governance and best practices.
- Support consultation on insurable risks related to Capital One Caf leases, events, and third party facility use, as needed
- Support insurance program leads on the ISM team by identifying third party relationships that may affect Capital One's enterprise insurance coverage needs
- Manage third party monitoring for our domestic and international insurance carrier networks
- Manage contract renewals for key third party relationships for the ISM team, including our broker and other service providers
- Provide ad hoc consultation within Capital One on insurable risks
- Lead and project manage certain captive insurance initiatives as the primary POC and accountable performer in partnership with the Captive Strategy Lead and the Captive Governance Lead
- Assist in managing insurance broker and carrier relationships, including participation in broker management meetings and insurance industry meetings as needed
- Support Insurance Strategy & Management department operations and team governance
Desirable skills: - Exceptional teamwork and customer focus
- Curiosity and diligence in exploring new/possible risk transfer solutions
- Strong written and verbal communication
- Strong project management skills with the ability to prioritize and manage multiple tasks
- Strong problem solving and critical thinking capability
Basic Qualifications: - High School Diploma, GED or equivalent certification
- At least 3 years of experience in commercial insurance, third party management, risk management, contract litigation or insurance litigation
Preferred Qualifications: - Bachelor's Degree
- 2+ years of experience with captive insurance solutions or alternative risk transfer
- Experience with international insurance programs
- Management Liability Insurance Specialist (MLIS), Certified Insurance Counselor (CIC), Certified Risk Manager (CRM), Associate in Risk Management (ARM) or Chartered Property Casualty Underwriter (CPCU)
Capital One will not sponsor a new applicant for employment authorization for this position.
Capital One offers a comprehensive, competitive, and inclusive set of health, financial and other benefits that support your total well-being. Learn more at the Capital One Careers website . Eligibility varies based on full or part-time status, exempt or non-exempt status, and management level.
This role is expected to accept applications for a minimum of 5 business days.
No agencies please. Capital One is an equal opportunity employer committed to diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to sex (including pregnancy, childbirth or related medical conditions), race, color, age, national origin, religion, disability, genetic information, marital status, sexual orientation, gender identity, gender reassignment, citizenship, immigration status, protected veteran status, or any other basis prohibited under applicable federal, state or local law. Capital One promotes a drug-free workplace. Capital One will consider for employment qualified applicants with a criminal history in a manner consistent with the requirements of applicable laws regarding criminal background inquiries, including, to the extent applicable, Article 23-A of the New York Correction Law; San Francisco, California Police Code Article 49, Sections 4901-4920; New York City's Fair Chance Act; Philadelphia's Fair Criminal Records Screening Act; and other applicable federal, state, and local laws and regulations regarding criminal background inquiries.
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