Captive Risk Manager

Built on a foundation of integrity, respect, and commitment, JPI stands out as one of the most active real estate developers and builders in the nation. For more than 35 years, JPI has designed and developed communities with best-in-class homes and amenities. JPI is committed to data-driven management and continuous improvement. Its team of experts utilizes data - including unparalleled market research, proven business processes, and proprietary models - to ensure that every decision is strategic, focused, and produces exceptional multifamily communities with the best risk-adjusted returns. More than just great communities, JPI is focused on leaving a lasting impact on the communities where we build and is continually committed to "Building What Matters." JPI operates as a subsidiary of Sumitomo Forestry, which is recognized as one of the largest home builders in the United States.

Essential Functions & Responsibilities

JPI Captive Insurance Program Management and Oversight

• Maintain and manage the recently established JPI captive insurance program.

• Work with external consultants, legal teams, and regulatory authorities to ensure the growth, scalability and compliance of the JPI captive insurance program.

• Develop and execute a business plan for the JPI captive insurance program, including financial goals, underwriting standards, and risk management policies.

• Maintain compliance with local, domiciled, and international regulatory requirements.

• Monitor the JPI captive insurance program P&L, ensuring the balance between risk transfer and financial performance is achieved.

• Coordinate with CFO/General Counsel on risk management and financial objectives to optimize premium savings and captive performance.

• Develop premium payment process and claims management system for JPI captive insurance program.

• Perform quarterly audits related to capitalization, collection, and claims for projected beneficial economic outcomes.

• Analysis and reporting on loss ratios, claims reserves, and performance indicators to senior leadership.

• Drive the strategic planning of JPI captive insurance program to align with JPI's broader business goals.

• Provide input on JPI's risk tolerance and how it affects insurance decision-making.

• Explore opportunities for expanding the captive's coverage or services to further support JPI's operations and reduce external insurance costs.

Coverage Management and Risk Assessment

• Assess and manage the following lines for additional JPI captive insurance program growth: Corporate and Project GL; Property and Builder's Risk; Worker's Comp; Professional (E/O and D/O); Cyber; Auto; Umbrellas; Environmental/Pollution.

General Risk Department Operations

• Establish and enforce internal insurance-related policies and procedures, particularly related to JPI captive insurance program.

• Manage third-party actuarial services for setting premium rates and reserves for the JPI captive insurance program, including analysis of reinsurance markets.

• Market research for premium benchmarking and policy renewals.

• Manage vendor and partnerships with third-party brokers, underwriters, service providers, and adjusters.

• Aid in the negotiation of terms with reinsurers and brokers to secure cost-effective reinsurance programs.

• Review and evaluate proposals from outside vendors, ensuring they align with the strategic goals of the JPI captive insurance program and JPI Risk Department.

P&L and Financial Management

• Oversee P&L for the JPI captive insurance program:

• Monitor premium income, expenses, loss reserves, and reinsurance costs.

• Conduct regular financial reviews to ensure the JPI captive insurance program remains profitable and achieves its financial goals.

• Present quarterly financial and performance reports to JPI leadership.

• Ensure the efficient use of the captive to maximize cost savings while maintaining adequate reserves for potential claims.

• Forecast financial needs for future premiums and assess capital requirements.

Claims Management/Reporting

• Oversee the claims management process, ensuring all claims are handled efficiently and in a cost-effective manner.

• Set reserves for potential liabilities and regularly review these to ensure they are accurate and adequate.

• Liaise with external claims adjusters, legal teams, and reinsurers for claims that exceed internal capacity.

• Ensure the JPI captive insurance program complies with all local and international insurance regulations, including annual filings, solvency requirements, and audit processes.

• Provide transparent and timely reporting to leadership on the captive's performance, risk exposures, and claims management.

• Develop and implement governance structures to manage the captive's operations effectively.

Non-essential Functions & Responsibilities

• Other duties as assigned.

Education, Work Experience, & Physical Requirements

• Bachelor's Degree in Business Administration, Finance, Risk Management or related field. Professional certifications like CRM, ARM, or CPCU are preferred.

• Minimum 7-years of experience managing captive insurance entities, large insurance portfolios, preferably for large corporations, preferably for real estate and construction corporations.

• Strong financial acumen, with experience in P&L management and actuarial analysis.

• Knowledge of insurance regulations and compliance.

• Excellent vendor management and negotiation skills.

• Ability to work cross-functionally with legal, financial, and operational teams.

• Demonstrated experience in managing Captive P&L performance, with a strong focus on profitability, loss ratio, and reserve adequacy.

• Proven track record in achieving premium savings through successful captive formation strategies.

• Skilled in ensuring timely and accurate claims handling with a focus on operational excellence.

• Comprehensive knowledge of regulatory compliance requirements and the ability to maintain adherence.

• Strong capability in efficiently managing insourced and outsourced functions to optimize operational performance.

We are a People First culture, and seek team members who are hungry, humble, and people smart with an eye to continuous improvement. Our culture begins with people and our goal is to attract, retain, and grow the best talent in the industry. Through ongoing investment in the development of our people, we provide meaningful opportunities for professional success and fulfillment. Led by values and principle-based leadership, our team approaches every project with responsibility, accountability, and integrity.

• NMHC - #1 Fastest Growing Developer; #2 Fastest Growing Building; #8 Largest National Developer; # 11 Largest National Builder

• Real Page - Most active multifamily developer in DFW for the past 8 years

• Dallas Business Journal Best Places to Work - 2023

• Dallas Business Journal - Largest DFW Real Estate Developers - #11

JPI offers associates a comprehensive benefits package with competitive salaries and more including:

• Competitive Bonus Program

• 4 Weeks PTO for All New Associates (Pro-Rated by Hire Date)

• 11 Holidays and 8 Early Release Days

• Medical, Dental, Vision and Life Insurance

• 401(k) with Company Match (Up to 5% Match)

• Health Savings Account

• Flexible Spending Accounts (Dependent & Medical Reimbursement)

• Paid Parental Leave

• Paid Volunteer Time

• Tuition Assistance

• Phone Reimbursement

• Associate Referral Bonuses