Director, Risk Management

About this role

SOLV Energy is a leading provider of infrastructure services to the power industry, designing, building and maintaining utility scale solar, battery storage and high voltage substation projects nationwide.

Job Description Summary: The Director of Risk Management provides strategic leadership and operational oversight for risk management activities across the organization. This position will serve as a trusted strategic advisor to executive leadership, offering independent risk assessments, program recommendations, and cross-functional guidance. The Director will play a pivotal role in evaluating and potentially establishing alternative risk financing mechanisms, including captive insurance structures and self-insurance programs, while also overseeing the successful expansion of the company’s surety bonding program.

This role can be based full-time in our office in San Diego, CA, Denver, CO, Dallas, TX, or Edison, NJ. Specific location details and expectations will be discussed during the interview process.

Job Description: *This job description reflects management's assignment of essential functions; it does not prescribe or restrict the tasks that may be assigned  

Position Responsibilities and Duties:   Strategic Risk Leadership   • Working with leadership, develop, implement, and continuously refine a comprehensive Enterprise Risk Management (ERM) framework aligned with company strategy and growth objectives.  • Proactively present risk management recommendations, trend analyses, and program updates to executive leadership and the Board  • Establish and track key risk indicators (KRIs) and present regular risk dashboards to senior management. 

Insurance Program Management   • Lead all aspects of annual insurance renewals across all lines of coverage, including General Liability, Workers’ Compensation, Commercial Auto, Umbrella/Excess, Professional Liability, and Pollution Liability.  • Manage Builders Risk policy placements, including project-specific and blanket programs, ensuring appropriate coverage terms and limits aligned with project scope and value.  • Conduct and oversee insurance audits, ensuring accurate premium computation and resolving discrepancies with carriers.  • Maintain strong relationships with brokers, underwriters, and carriers; actively market the company’s risk profile to secure favorable terms and pricing.  • Benchmark coverage, retentions, and premiums against industry peers and recommend program adjustments. 

Alternative Risk Financing & Captive Development   • Lead the feasibility analysis, design, and potential implementation of a captive insurance company or other alternative risk transfer vehicles.  • Evaluate self-insurance programs for appropriate lines of coverage, including fronting arrangements, loss-sensitive programs, and funded retentions.  • Partner with external advisors (actuaries, captive managers, legal counsel) to structure, domicile, and operate alternative risk financing programs.  • Develop financial models to assess risk retention strategies and their impact on company cash flow and total cost of risk (TCOR).  • Ensure regulatory compliance for all alternative risk structures, including captive licensing, reserve adequacy, and reporting requirements. 

Claims Management   • Oversee the end-to-end claims management process across all lines of coverage, ensuring timely reporting, investigation, and favorable resolution.  • Collaborate with project teams, legal counsel, and third-party administrators (TPAs) to manage complex or litigated claims effectively.  • Analyze claims data to identify trends, root causes, and systemic exposures; use findings to drive loss prevention initiatives.  • Establish reserves and monitor claim development against projections; report significant claim activity to senior leadership.  • Manage relationships with defense counsel and monitor litigation spend and strategy. 

Contract Risk Review   • Review and negotiate risk-related provisions across all contract types the company executes, including construction owner contracts and subcontracts, supplier and vendor agreements, equipment leases, joint ventures, and professional service agreements.  • Review risk and insurance provisions in real estate transactions, including property acquisitions, dispositions, ground leases, and development agreements; ensure appropriate property, environmental, and liability coverage is in place at all stages of ownership and development. 

Surety Bond Program Management   • Oversee the company’s surety bonding program, including the management of bid bonds, performance bonds, and payment bonds across all active projects.  • Monitor aggregate bonding capacity and provide leadership with forward-looking analyses of bonding availability relative to backlog and growth plans.  • Maintain and strengthen relationships with surety underwriters; proactively manage the company’s surety credit profile.  • Coordinate with finance and operations to provide sureties with timely financial and operational updates  • Negotiate favorable bond terms, rates, and collateral requirements. 

Safety & Fleet Partnership — Loss Reduction   • Serve as a strategic partner to the Safety department with a shared and explicit mandate to reduce both the frequency and severity of losses across all lines — including Workers’ Compensation, General Liability, and auto/fleet exposures. Translate claims data and loss trends into actionable safety program priorities and field initiatives.  • Establish regular cadence with Safety leadership to review open claims, incident patterns, high-severity exposures, and near-miss data; jointly develop loss prevention programs targeting the most significant contributors to claim frequency and cost.  • Partner closely with Fleet management to oversee auto liability and physical damage exposures; collaborate on driver qualification standards, telematics programs, vehicle maintenance protocols, and accident response procedure

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