Insurance Risk Manager

Insurance Risk Manager

The Insurance Risk Manager helps guide the company's insurance and risk management program, working closely with brokers and internal partners to support coverage planning and renewals. The role supports the collection and review of risk information, monitors exposure and loss trends, and contributes to risk assessments and continuity planning. This position partners with teams across the business to review contract language and insurance requirements, coordinate documentation needs, and provide general support related to claims and program administration. The role also contributes to cost tracking and other risk-related projects as needed.

Responsibilities

• Annual Renewal: Partner with insurance broker to evaluate market trends, align on strategy, and set timelines. Manage collection, analysis, validation, and submission of risk exposure data, across all lines of coverage. Work with leaders to make decisions on coverage, costs, and carriers before binding coverage for US and Australia.
• Risk Assessments & Monitoring: Maintain visibility of operational risk for each coverage area. Lead assessments of risks, manage 3rd party service providers as needed, prepare cost/benefit analysis of risk mitigation actions to build organizational consensus, and lead business continuity planning. Perform insurance-related due diligence for merger and acquisition targets.
• Contracts: Thoroughly review insurance contracts, negotiate terms and conditions, and summarize coverage/key terms. Review supplier contracts for insurance-related contractual provisions in partnership with Legal and Procurement. Oversee the handling of Certificates of Insurance (COI).
• Budgeting: Maintain a comprehensive record of total cost of risk (TCOR). Manage the payment of insurance invoices. Work with other Finance teams to make payments, manage allocations/accruals, update forecasts, monitor reserves, etc.
• Claims: Support Workers Comp Risk Manager at the plant with broker/insurer resources. Address coverage questions and provide point of view regarding claims submissions for insurance claims other than workers comp. Treasury Support/Backup: Provide cash management, payment and commodity trade confirmation support as needed during holidays and vacations.

Requirements

• Bachelor's degree in Business, Finance, Insurance, or a related field.
• 5 years' experience in corporate risk management, risk consulting, insurance company, or insurance broker.
• Prior experience with a corporate insurance program (including annual policy renewals) required.
• Demonstrated knowledge of insurance coverage lines including but not limited to directors and officers, property, casualty, professional liability, cyber, auto, and employer's liability.
• Strong analytical skills, including the ability to review, validate, synthesize, and visualize quantitative data including financial results, payroll, supply chain/inventory, property, workers comp. losses, travel costs, etc.
• Excellent Microsoft office, Excel, Power Point, Pivot Table skills mandatory.