• VP Risk Management

    Job Locations US-NY-New York
    Requisition ID
    18-9219
    Division
    Corporate - Finance
    Functional Area
    Other
  • Overview

    The Madison Square Garden Company (MSG) is a world leader in live sports and entertainment experiences.  The company presents or hosts a broad array of premier events in its diverse collection of iconic venues: New York’s Madison Square Garden, The Theater at Madison Square Garden, Radio City Music Hall and Beacon Theatre; the Forum in Inglewood, CA; The Chicago Theatre; and the Wang Theatre in Boston.  Other MSG properties include legendary sports franchises: the New York Knicks (NBA), the New York Rangers (NHL) and the New York Liberty (WNBA); two development league teams -- the Westchester Knicks (NBAGL) and the Hartford Wolf Pack (AHL); and one of the leading North American esports organizations, Counter Logic Gaming.  In addition, the Company features popular original entertainment productions -- the Christmas Spectacular and New York Spectacular – both starring the Radio City Rockettes, and through Boston Calling Events, produces outdoor festivals, including New England’s preeminent Boston Calling Music Festival.   Also under the MSG umbrella is TAO Group, a world-class hospitality group with globally-recognized entertainment dining and nightlife brands: Tao, Marquee, Lavo, Avenue, The Stanton Social, Beauty & Essex and Vandal.  More information is available at www.themadisonsquaregardencompany.com

    Specific Functions/Activities Summary

    • Negotiate and arrange for all Casualty, Property, Environmental, Executive & Special Risk Liability, Alternative Risk Financing, Merger/Acquisition/Divestiture Due Diligence and specialty insurance dealing with Sports Teams, MSG subsidiaries like TAO, Obscura, and CLG; affiliates like Boston Calling Events, 3 501-C3 organizations, and through special service agreements companies like MSG Networks Inc. to ensure the broadest corporate protection at the best price.
      • Recommend insurance brokers and carriers and direct negotiations of terms and conditions required to protect the exposure the Company has decided not to self-insure.
      • Develop, negotiate, implement and manage insurance and alternative risk financing formats design to optimize appropriate transfer of risk to third parties.
      • Oversee contractual risk reviews. In cooperation with MSG Legal and business negotiate most favorable contract terms and conditions.
    • Direct and continually evaluate self-funded, high deductible or other insurance programs with significant retained loss exposure to ensure the professionalism of claim handling and settlement procedures of the third-party claims adjusters and/or adjusting insurance carriers. Monitor the third-party claims administrator and/or adjusting insurance carriers role in daily oversight, claim preparation, audit procedures and preparation for settlement or trial.
      • In accordance with existing MSG Risk Management, Legal, and Finance policies and procedures:
        • Authorize all insurance claim settlements more than $10,000 up to $250,0000 Authorize changes in workers compensation, general liability, automobile liability reserves >$25,000 in accordance with MSG RM claims management policies.
        • Strategize and assist in trial preparation for all litigated claims.Manage selection of outside defense counsel in cooperation with MSG Legal. Maintain relationships to ensure compliance with our corporate policies and philosophies.
        • Assist MSG Legal in evaluating viability of mediation or arbitration as a claims settlement tool.
    • Manage MSG NY captive insurance company and associated support resources providing terrorism insurance for MSG and its venues and evaluate other captive domiciles and uses of captive insurers in providing appropriate risk transfer for MSG operations and ventures.
    • Identify and evaluate the various risks of potential loss to MSG and recommend whether the risk should be transferred to another party, insured by MSG, or self-insured.
      • Provide technical consultation and act as senior risk advisor on all aspects of risk and insurance.
      • Consult and give advice to the business units promoting interaction with internal customers and business support functions (People Practices, Legal, and Operational Management) to maximize effective utilization of risk management resources.
    • Establish and maintain effective lines of communication with senior management, legal staffs and operational management, and external risk management support functions including brokers, consultants, external legal resources.
    • Assist and support MSG Accounting / Financial Planning & Analysis to efforts to develop and maintain corporate-wide insurance budget/loss analyses, general insurance budgets and forecast, and allocate costs to operating entities.
      • In coordination with internal resources such as MSG Accounting, Venue Operations, Financial Planning and Analysis, and Legal develop innovative allocation strategy to ensure accountability and fair distribution of insurance expenses.
      • In accordance with MSG processes and procedures direct and support timely actuarial analysis of MSG retained losses to help ensure appropriate loss accruals and allocation. 
    • Direct risk identification, loss history, insurance policy review, environmental report interpretation and other risk related analysis of potential liabilities for all mergers, acquisitions, divestitures and real estate ventures.
      • Provide professional advice to senior financial and legal management.
      • Evaluate new construction risk. Develop, negotiate, implement and manage necessary construction risk insurance programs for new venue and other real estate projects.
      • Evaluate new business opportunities to ensure compliance with regulatory bodies and that MSG’s assets are protected.
    • Remain knowledgeable about state of art insurance product and market trends along with maintaining insight into the current claims/loss management and risk management information systems.
    • Assist Treasury in cash management programs as a backup resource in accordance with existing contingency plans.

    Qualifications

    Management Skills

    • Ability to multi-task numerous functions/projects at the same time.
    • Experience and superior ability to manage Risk Management departmental staff, line management, and senior management.
    • Strong Communicative ability (written and oral) to establish and foster intra-departmental and inter-company relationships with outside clients.
    • Excellent development and motivational techniques.
    • Strong analytical and problem-solving skills.
    • Stress tolerance.

    Technical/Functional Competencies

    • Progressive work history with a minimum 10-12 years’ experience in the Property/Casualty/Executive/Environmental insurance and risk management forum whether in an insurance company, brokerage firm or corporate risk management department.
    • Additional 5-7 years in a corporate risk management position as senior risk management officer.
    • Minimum 5-7 years managing a Corporate Safety Department.
    • Extensive claims and litigation management skills that will provide direct monitoring of insurance carrier and defense counsel operations to ensure the most cost effective and prudent settlement of insurance claims.

    Key Experiences/Achievements

    • College degree in related field required
    • Advanced MBA/MA degree desirable.
    • ARM/CPCU/CRIS/Risk Fellow preferred.
    • Progressive work history that shows upward career mobility, desire, aggressiveness and excellent management skills.

    Education

    Candidates who have completed 60 credits of college-level coursework (representing 2 years), or have shown similar self-development through certifications, trade school coursework, etc. are preferred.

    Educational requirements may differ from job to job based on the role.

    EEO Statement

    At MSG we value diversity and are looking for extraordinary employees of all backgrounds! MSG is an Equal Opportunity Employer and provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, gender, sexual orientation, gender identity or expression, national origin, citizenship, age, genetic information, disability, or veteran status. In addition to federal law requirements, MSG complies with all applicable state and local laws governing nondiscrimination in all locations.

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