Accomplished risk and operations leader experienced leading strategic initiatives that reduce cost, enhance operations, and optimize profitability at all levels of a corporation. Established reputation as a “hands on” problem-solver known for setting industry cost-saving benchmarks in the analysis, redesign, and implementation of cost and production programs. Respected and adaptable communicator who combines a facilitative leadership approach, financial, risk, revenue management expertise, and an engineering foundation to establish long and short-term planning initiatives. Capable of instilling a culture of productivity and providing focus at all levels while cultivating strategic relationships and building high performing teams that exceed corporate objectives.
Areas of Expertise:
• Underwriting Operations
• Risk Analysis
• Contract Negotiations
• Consensus Management
• Optimizing Operations
• Business Development
• Profit & Loss
• Team Development
• Strategic Planning
CAREER HIGHLIGHTS
As Chief Underwriting Officer for Nuclear Electric Insurance Limited (NEIL), achieved an historical 17% loss ratio across all lines of insurance operations for the largest global captive property and casualty insurance company serving the utility industry.
Led the global revitalization, system redesign, and management of $270 million in gross written premiums, with full profit and loss responsibility for an operating budget of more than $70 million.
Reduced Workers’ Compensation claims from 2,600 to 16 per year, averaging only one lost time accident annually, by launching a team-based safety incentive program linked to peer support and year-end bonuses.
Transitioned Corporate Insurance division from a cost center to a profit center, cutting annual expenses by $4.2 million per year.
PROFESSIONAL EXPERIENCE
Vice President, Insurance/Chief Underwriting Officer
Nuclear Electric Insurance Limited, Wilmington, DE 01/2003 – 10/2005
The world's largest insurer of domestic and international utilities for costs associated with business interruptions, property damage, decontamination and other related nuclear risks, providing up to $3.2 billion of coverage.
Recruited by the CEO to integrate and optimize the insurance operations. Responsible for evaluating, pricing, and underwriting nuclear power stations located worldwide. Worked directly with the Board of Directors and CEO on new initiatives to achieve financial goals.
Charged with establishing standard operating procedures and internal systems to enhance internal communication, instill a customer-oriented culture, and increase customer satisfaction. Conceived and implemented all strategic insurance policies and programs company-wide.
• Doubled the insurance program participation on conventional risks from 20% to 40%, receiving approval directly from the Board of Directors.
• Attained the company’s highest rating ever in customer service by standardizing underwriting practices, implementing technological advancements in database integration and reporting; leading training initiatives that built cross functional knowledge of company’s products, clients, and services.
• Negotiated and secured domestic and international multi-million dollar insurance contracts for clients located in the United Kingdom, Korea, Japan, Belgium and Spain.
• Implemented a client-approved premium increase across all property programs. Performed in-depth analysis, formed an insurance advisory subcommittee to develop, implement, and educate clients to understand that better quality and coverage equals higher price.
• Led the negotiations and management of a $1 billion ceded reinsurance treaty. Limited participants to no more than 10% of the total treaty, ensuring reinsurance stability, pricing, and long-term partnerships.
• Enhanced service, work processes, program design and established new documentation to ensure compliance with all corporate and governmental requirements. These modifications included additional monitoring of the surplus to capacity ratio, Sarbanes Oxley best practices, system integrity, and state insurance codes.
• Transitioned the company to a more progressive information systems approach. Implemented a $2 million enterprise software project to streamline all processing documentation and to share information both internally and externally.
• Established standard operating procedures and wrote an underwriting manual that standardized the rating process, assisted global expansion and improved client relationships.
STP Nuclear Operating Company, Wadsworth, TX 08/1986 – 01/2003
Formerly Houston Lighting and Power Company, a Fortune 100 Dow Jones industrial average company with 1,800 employees that manages the plant for its owners, which include Austin Energy (The City of Austin), CPS Energy (The City of San Antonio), and Texas Genco LLC
Risk and Insurance Manager, Corporate Insurance (03/1999 – 01/2003)
Appointed by the CEO to assume this strategic risk and insurance advisory position. Charged with improving and implementing risk management processes, efficiencies, and programs to maximize productivity and profitability. Provided “hand on” knowledge and insurance credibility to initiatives. Worked directly with the Board of Directors, owners, municipalities, regulators and CEO. Reported to VP, Engineering and Technical Services.
Oversaw an annual operating budget of more than $6 million with complete responsibility for budget preparation, expenditure scheduling, and variance analysis to achieve financial objectives. Prepared operational and risk reports to allocate program costs.
• Transitioned Corporate Insurance division from a cost center to a profit center, cutting annual expenses by $4.2 million. Determined company financial risk by analyzing loss exposure, frequency and severity in order to significantly reduce losses and costs.
• Developed and implemented an improved insurance program structure that incorporated self-insurance, predictive loss analysis and risk transfer to provide protection against exposures due to property loss, general liability, workers’ compensation, special events, and other traditional losses.
• Advised on litigation strategies, providing recommendations for claims settlement.
• Performed market analysis as a proactive measure to evaluate trends and anticipate market changes for insurance programs to reduce cost and respond to adjustments within the industry.
• Reduced insurance costs by $3 million in the first year of a redesigned program by uncovering obsolete practices, and creating an “on-site” underwriters visitation program to alleviate post-911 fears, resulting in more coverage, higher limits, more attractive terms, and lower rates. The program changes reduced expenses $2 million annually for each subsequent year of the seven-year plan.
• Placed insurance through negotiations, broker collaboration, and insurance carrier evaluations. Insurance placed includes property ($2.75 billion), liability ($35 million), and Workers’ Compensation ($20 million).
• Initiated and transitioned 401K to an outside vendor (Vanguard). Established trust relationship with the Union and negotiated for more efficient plan administration. Reduced cost and provided more flexibility, training and employee control.
• Launched loss prevention programs by consulting loss prevention experts and implementing safety initiatives.
Supervisor, Corporate Insurance (03/1997 – 03/1999)
Oversaw all aspects of management including claims negotiations, contract review, procedural organization, filing system design, requisition approvals, refuel operations, staff supervision, and human resource activities.
• Negotiated with the State of Texas to reduce $20 million in liability on multiple workers’ compensation claims to a $12,000 administration fee.
• Increased efficiency by integrating databases, document management procedures, and work process improvements.
• Prepared annual budgets, scheduled expenditures and analyzed variances, and placed insurance effectively through negotiations, broker collaboration and insurance carrier evaluations.
Lead Staff Planner & Scheduler – Houston Lighting and Power (06/1990 – 01/1997)
Developed and implemented plant schedules to analyze and schedule performance and coordinate scheduled data input/output with additional responsibility for the development of procedures and methods for the scheduling of plant maintenance activities. Created plant refueling outage schedules for budgetary compliance. Instrumental in the development, implementation and operation of a computerized integrated scheduling system.
• Set an industry benchmark for STP Nuclear Operating Company by developing a long and short-term facility outage plans that decreased plant down time from 67 to 20 days.
Certified ANSI Level III Senior Metrology Laboratory Specialist (08/1988 – 06/1990)
Formulated and implemented a plan to automate testing procedures and data collection to reduce expenses for an unprofitable business unit. Enhanced efficiency through automated data collection while reducing man-hours for testing by 32%. Wrote, tested, and applied laboratory procedures to ensure compliance with local, state, and federal regulations linked to the National Institute of Standards and Technology (NIST).
EDUCATION / CERTIFICATIONS AND LICENSES
Master of Business Administration, Regis University, Denver, CO
GPA: 3.92 out of 4.00, Graduate Honors, Graduation Date: 12/27/2002
Bachelor of Science, Nuclear Science and Engineering, University of Maryland, College Park, MD
GPA: 3.75 out of 4.00, Honors: Member of Alpha Sigma Lambda Honor Society, Graduation Date: 08/30/1994
Associate in Commercial Underwriting (AU), Insurance Institute of America, Malvern, PA; Certified ANSI Level III Senior Metrology Laboratory Specialist; Certified ANSI Level II Metrology Technician
Certified Project Manager in Applied Project Management
Certified Master Black Belt, Black Belt, Green Belt in Six Sigma Quality
Licenses: Property and Casualty, Life, Accident, Health and HMO, and Long Term Care Insurance Agent; Insurance Adjuster – all lines; Texas Savings and Loan Officer; and Investment Company and Variable Annuity Product Registered Representative (Series 6 & 63)
Proficient in the use of PeopleSoft, Oracle, Windows, and Microsoft Word, Excel, and PowerPoint applications
PROFESSIONAL / COMMUNITY INVOLVEMENT
West Chester University, Business Advisory Council, 2007
Board of Directors, United Way of Delaware, 2005 to 2007
Board Chairman, Matagorda County United Way, 1998 to 2002
Vice Chairman, Programs, Boy Scouts of America, Sam Houston Area Council, Brahman District, 2000 to 2002
Member, Nuclear Electric Insurance Limited Insurance Advisory Committee, 1997 to 2002
Secretary, Nuclear Safety Review Board, 1997 to 2002
United States Marine Corp., Honorable Discharge, 1979 to 1986
Final Secret Security Clearance |
