Insurance Analyst

Job Description

Basic Purpose

Evaluates risk that could cause injury, loss or damage to assets or loss of revenue. Initiates and implements risk transfer and risk control activities. Proposes methodologies and solutions to eliminate or minimize various operating risks. Evaluates the implementation of risk reduction strategies. Develops basic models and analysis of the cost and benefits associated with risk transfer and reduction methods and products. Plans, develops, and completes insurance underwriting submissions and applications.

Responsibilities

Essential Duties and Responsibilities

Assembles and organizes underwriting data requests, completes insurance applications and creates underwriting submissions for all major corporate insurance renewals.

Performs research and prepares correspondences for review and approval of insurance language and indemnification provisions in contracts, leases and agreements. Ensures compliance with contractual requirements.


Assists with the internal management of NVE Insurance Co. (Captive) operating and compliance activities. Provides analysis for underwriting, claims, budgeting and investment decision making. Facilitates annual board of directors/shareholders meetings and completes annual license renewals.

Coordinates engineering efforts with property insurers and internal generating plant property engineers. Reports monthly developments to Generation executive leadership and develops plans and strategies for achieving lower operational risk.

Researches current market risk initiatives. Stays well versed in insurance industry standards, policies, changes and news.

Assess the need for various instruments (bonding, letter of credit) to satisfy indemnification requirements for contracts. Creates and executes indemnification instruments and manages renewal process where required.

Serves as a liaison to external contacts

• Plans, prepares and develops risk management presentations to the insurance marketplace.
• Represents Company in insurance industry and professional associations
• Plans and schedules inspections of all facilities with insurance carriers and loss control consultants to identify hazards and recommends appropriate programs to reduce exposures.
• Coordinates General Rate Case process and filings related to Corporate Insurance.
• Reviews and reconciles insurance premium amortization schedules and master data request in order to ensure complete and accurate regulatory filings and cost recovery.

Responds timely and accurately to internal and external data requests and inquiries regarding insurance programs and premium allocations.


Monitors the receipt of insurance binders, policies and endorsements. Manages the safekeeping of original insurance policies.

Conducts ad-hoc risk studies and quantitative analysis as required. Develops reports summarizing analytical results and recommendations. Ensures proper documentation of decisions.

Manages the liability and property certificate of insurance program (COI) and letters of self-insurance. Reviews evidence of insurance from third parties and determines compliance with Company standards and contractual requirements.

Supports workers compensation insurance placement, regulatory compliance and program oversight.

Ensures all compliance aspects of position are known and followed; understands and complies with all policies, codes and regulations applicable to position and company.


Performs related duties as assigned.

Qualifications

Essential Education, Skills, and Environment
Education and Work Experience
Bachelor's Degree in the area of specialty from an accredited school and 3 years of related experience.

Candidates that do not possess a bachelor's degree must have a minimum of 7 years of related work experience.

Specialized Knowledge and Skills
Demonstrated knowledge of:

• Overall business, the sources of risk, and potential options for mitigation.

Skills such as:

• Analytical and quantitative analysis, written, communication and organizational.
• Internal and external relationship.

Equipment and Applications
PCs, word processing, spreadsheet and database software.


Work Environment and Physical Demands
General office environment. No special physical demands required.

Note: Immigration Sponsorship
At this time, we're not considering applicants that need any type of immigration sponsorship (additional work authorization or permanent work authorization) now or in the future to work in the United States. This includes, but is NOT LIMITED TO: F1-OPT, F1-CPT, H-1B, TN, L-1, J-1, etc. For more information regarding work visas, please visit

About Us

NV Energy is looking for qualified people to join us in one of the premier energy companies in the West. Located in the fastest growing state in the United States, NV Energy provides electricity to 1.3 million customers throughout Nevada as well as a state tourist population exceeding 40 million annually. Among the many communities we serve are Las Vegas, Reno-Sparks, Henderson, Elko and South Lake Tahoe. We also provide natural gas to more than 155,000 citizens in the Reno-Sparks area.

About the Team

NV Energy is proud to be an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion or religious creed, age, national origin, ancestry, citizenship status (except as required by law), gender (including gender identity and expression), sex (including pregnancy), sexual orientation, genetic information, physical or mental disability, veteran or military status, familial or parental status, marital status or any other category protected by applicable local, state or U.S. federal law. Employees must be able to perform the essential functions of the position, with or without an accommodation.