Corporate Insurance Specialist, VP

Who we are looking for

The Corporate Insurance department is responsible for securing a global insurance program and providing insurance expertise for State Street Corporation. The department is looking for a motivated insurance expert to oversee State Street’s global insurance needs and insurance Captive duties. The Corporate Insurance Specialist will be responsible for securing and monitoring all lines of insurance in coordination with State Street’s global footprint and assist with the supervision of an insurance Captive.

The Corporate Insurance department is comprised of highly experienced individuals with Management and Professional Liability and Property and Casualty backgrounds. This cohesive team works closely together to cross-train and provide support on all insurance coverages. In addition to placing a global insurance program and supporting the insurance Captive, the Corporate Insurance Specialist will be responsible for reviewing contracts, recommending vendor insurance requirements, acting as an insurance subject matter expert for all business units globally and managing relationships with the insurance brokerage and underwriting community.

• Design, secure and monitor a global insurance program encompassing all lines of insurance coverage
• Insurance Captive supervision and related third-party vendor management responsibilities
• Ensure global compliance with all regulatory and insurance requirements
• Effectively negotiate insurance terms and conditions and review insurance policies and endorsements for accuracy
• Serve as an insurance expert for contracting, including client and third-party vendor contracts, RFP and Due Diligence questionnaires
• Manage and grow insurance brokerage and carrier relationships
• Manage the internal network of global colleagues in order to execute insurance needs
• Manage the certificate of insurance process for all global business functions
• Facilitate the reporting and management of insurance claims, while acting as the liaison between State Street, the insurance community and outside counsel
• Monitor the insurance program expenses in compliance with budget strategies
• Assist with various insurance risk management initiatives or projects as necessary

• 7 plus years of relevant global insurance/risk management experience required
• Expertise in Professional and Management Liability and Property and Casualty insurance
• Experience with insurance Captives and the reinsurance market
• High degree of attention to detail
• Strong multitasking skills while delivering high standards of quality
• Excellent written and verbal communication skills, including the ability to work across all levels of management
• Proven team-building and collaborative skills
• Bachelor’s degree

We truly believe in the power that comes from the diverse backgrounds and experiences our employees bring with them. Although each vacancy details what we are looking for, we don’t necessarily need you to fulfil all of them when applying. If you like change and innovation, seek to see the bigger picture, make data driven decisions and are a good team player, you could be a great fit.

State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.

We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance and savings plans, among other perks. You’ll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.