NJ TRANSIT
Risk Management Specialist
NJ TRANSIT, Newark, New Jersey, us, 07175
Risk Management Specialist
Finance
Move forward with us! At NJ TRANSIT, you'll join us in transforming the third-largest transportation agency in North America. We are committed to delivering safe, reliable service that gets customers to their destinations on time-and we're looking to hire talented folks with a commitment to excellence to make it all possible.
Summary:
Performs various tasks with the purpose of minimizing possible risks or losses for NJ Transit, as well as pursuing recoveries from third parties.
Roles and Responsibilities:
Identifies claims or accidents involving damage to NJ TRANSIT property by a third party, investigates possible subrogation potential and obtains property damage estimates and other data in support of the subrogation/collection claim. Presents property damage claims to responsible parties' insurance companies, businesses, and individuals for payment, and negotiates settlement of claims to conclusion. Obtains authorization from Director for compromise settlement, where required.Researches possible subrogation claims, analyzes defense and indemnification provisions of third-party contracts, and handles subrogation claims in accordance with NJ TRANSIT's current contract with private bus/light rail operators or other responsible parties.Records, processes, and forwards subrogation claims on behalf of NJ TRANSIT to the New Jersey Attorney General's Office, Debt Recovery Unit. Monitors status of litigated claims handled by New Jersey Attorney General's Office, Debt Recovery Unit.Prepares reports, maintains files and records and prepares check requisitions for payment of insurance premiums and reimbursement of costs to third party bus/light rail operators.Maintains accurate information on subrogation/property damage claims in STARS Risk Management Information System or equivalent system.Effectively communicates and negotiates with insurance adjusters, attorneys, agents, claimants, and NJ TRANSIT employees in a timely and professional manner in furtherance of a full recovery of the costs of the property damage.Assists Director with administration of NJ TRANSIT's railroad protective liability program; maintains accurate records of policies and assists in renewal of program.Assists Director with Risk Management and other special assignments as needed.Education, Experience, and Qualifications:
Bachelor's Degree in Business Administration or related area or equivalent, and a five (5) or more years' experience in Claims and/or Risk Management required.Knowledge and Skills:
Excellent verbal, written, interpersonal, strong analytical and negotiation skills required. Must be a team player and possess strong computer skills with a knowledge of MS Office Products.At NJ Transit, you will enjoy a competitive salary and excellent benefits package:
Comprehensive Family Health Insurance - Medical, Prescription, Dental, VisionFlexible Spending AccountLife InsurancePaid LeaveTuition AssistancePre-Tax Commuter Benefits PlanRetirement Plans
401(a) - Retirement plan with a 6% employer contribution401(k) - Retirement saving plan with up to an 3% company match457(b) - Deferred Savings Plan
At NJ TRANSIT, diversity and inclusivity are vital to our success as we are committed to hiring individuals from diverse backgrounds, experiences, abilities, and veteran status. As an Equal Opportunity Employer, we encourage all qualified applicants to apply and join our team.
Learn more about NJ TRANSIT! Sign up to receive an invitation to our next live information session at WWW.NJTRANSIT.COM/BEST
Job Details
City:
NewarkState:
NJ
Finance
Move forward with us! At NJ TRANSIT, you'll join us in transforming the third-largest transportation agency in North America. We are committed to delivering safe, reliable service that gets customers to their destinations on time-and we're looking to hire talented folks with a commitment to excellence to make it all possible.
Summary:
Performs various tasks with the purpose of minimizing possible risks or losses for NJ Transit, as well as pursuing recoveries from third parties.
Roles and Responsibilities:
Identifies claims or accidents involving damage to NJ TRANSIT property by a third party, investigates possible subrogation potential and obtains property damage estimates and other data in support of the subrogation/collection claim. Presents property damage claims to responsible parties' insurance companies, businesses, and individuals for payment, and negotiates settlement of claims to conclusion. Obtains authorization from Director for compromise settlement, where required.Researches possible subrogation claims, analyzes defense and indemnification provisions of third-party contracts, and handles subrogation claims in accordance with NJ TRANSIT's current contract with private bus/light rail operators or other responsible parties.Records, processes, and forwards subrogation claims on behalf of NJ TRANSIT to the New Jersey Attorney General's Office, Debt Recovery Unit. Monitors status of litigated claims handled by New Jersey Attorney General's Office, Debt Recovery Unit.Prepares reports, maintains files and records and prepares check requisitions for payment of insurance premiums and reimbursement of costs to third party bus/light rail operators.Maintains accurate information on subrogation/property damage claims in STARS Risk Management Information System or equivalent system.Effectively communicates and negotiates with insurance adjusters, attorneys, agents, claimants, and NJ TRANSIT employees in a timely and professional manner in furtherance of a full recovery of the costs of the property damage.Assists Director with administration of NJ TRANSIT's railroad protective liability program; maintains accurate records of policies and assists in renewal of program.Assists Director with Risk Management and other special assignments as needed.Education, Experience, and Qualifications:
Bachelor's Degree in Business Administration or related area or equivalent, and a five (5) or more years' experience in Claims and/or Risk Management required.Knowledge and Skills:
Excellent verbal, written, interpersonal, strong analytical and negotiation skills required. Must be a team player and possess strong computer skills with a knowledge of MS Office Products.At NJ Transit, you will enjoy a competitive salary and excellent benefits package:
Comprehensive Family Health Insurance - Medical, Prescription, Dental, VisionFlexible Spending AccountLife InsurancePaid LeaveTuition AssistancePre-Tax Commuter Benefits PlanRetirement Plans
401(a) - Retirement plan with a 6% employer contribution401(k) - Retirement saving plan with up to an 3% company match457(b) - Deferred Savings Plan
At NJ TRANSIT, diversity and inclusivity are vital to our success as we are committed to hiring individuals from diverse backgrounds, experiences, abilities, and veteran status. As an Equal Opportunity Employer, we encourage all qualified applicants to apply and join our team.
Learn more about NJ TRANSIT! Sign up to receive an invitation to our next live information session at WWW.NJTRANSIT.COM/BEST
Job Details
City:
NewarkState:
NJ