973-750-1500 Financial Solutions and Strategies for Environmental Risks
Financial Solutions and Strategies for Environmental Risks

Paul Scian

Paul ScianEnvironmental Risk Assessment Management – Paul Scian is a recognized expert in environmental risk assessment and quantification, as well as pollution insurance. Mr. Scian has more than 25 years of experience helping clients achieve the best solutions possible when addressing environmental concerns.

Mr. Scian’s most recent position is with RiskNomics, where he is building a risk assessment and insurance placement practice. Mr. Scian’s experience in environmental investigations and remediation, backed by his insurance, risk and financial expertise, has enabled him to win clients in insurance offices throughout the U.S. Prior to RiskNomics, Paul worked as Director of Operations for Bluefield Holdings, an innovative start-up that developed an alternative settlement mechanism for New Jersey DEP natural resource damage (NRD) environmental liabilities. While at Bluefield, Mr. Scian helped establish processes and metrics in monthly financial and operational reports. His work included updating the investor pro forma and developing presentation decks for obtaining additional funding.

Before joining Bluefield, Mr. Scian served for 12 years as an engineer in AIG’s headquarters in New York City. At AIG, he covered underwriting, claims, investments and technology system upgrades. He was also AIG’s national manager for its Cost Cap and EPP engineering programs, leading underwriters and engineers across the country on the most complex environmental transactions facing AIG. Mr. Scian also trained AIG’s engineers on the company’s proprietary computer model, utilizing Monte Carlo simulations and creating graphical presentations of probability distribution outputs (showing cost-risk expectations over time). Key projects included portfolio programs with landfill closure and port closure financial assurance funding, redevelopment projects for industrial Brownfields, Superfund cleanups and sediment dredging and restoration projects. For much of this work, Mr. Scian was an integral member of the “deal teams” that conducted negotiations, established terms and conditions and crafted policy endorsements. Mr. Scian was the engineering lead on a $23 billion public company buyout, identifying key concerns, resolving materiality issues, directing the work of consultants and running simulations of projected future environmental costs, all of which were completed on an accelerated turnaround. Paul also served as the review engineer for AIG Global Real Estate’s senior engineer on all AIG investment properties worldwide. Mr. Scian trained underwriters and prepared white papers regarding emerging environmental, health and safety risks, such as nanoparticles, endocrine disruptors, indoor vapor intrusion, NRD and emerging contaminants. Mr. Scian worked on IT special projects, including the development of an environmental claims database and the integration of engineering and underwriting databases. Paul led AIG’s engineering re-write efforts for complex carrier settlement negotiation of legacy policies. He was recognized as the company’s top internal consultant worldwide, winning AIG’s Distinguished Service Award.

Mr. Scian developed his environmental consulting expertise at Malcolm Pirnie (MP, now ARCADIS), Foster Wheeler (FW) and ICF Kaiser. At MP, Mr. Scian led projects developing water resources in New Jersey and New York, supervising teams in field testing and confirmation of aquifer models through mathematical analyses for acquiring permitted water withdrawal rights. Paul also managed Superfund remedial investigations and remediation projects throughout the U.S. Mr. Scian was recruited to FW, where he led projects under the U.S. EPA’s SITE Program, the U.S. Navy CLEAN Program, at UST closures at sites along the U.S. East Coast and internationally at Petroleos de Venezuela’s Curacao refinery. At ICF Kaiser, Mr. Scian worked with the U.S. Army Corps of Engineers and developed a No Response Action strategy implementing a monitored natural attenuation (MNA) approach for U.S. Army sites. Using U.S. EPA Risk Assessment statistical protocols, the strategy supported the U.S. Army Corps of Engineers position over more costly approaches while remaining protective of human health and the environment.

Paul holds a BA in Geology from Rutgers University, a BS in Finance from Ramapo College of New Jersey and an MS in Hydrogeology from the University of Massachusetts. He is also an undergraduate of the U.S. Air Force Academy Engineering program. He is a professional geologist in PA and WY and is licensed for UST subsurface evaluation and closure in New Jersey. Mr. Scian is a member of the American Association of Petroleum Geologists.

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