Risk Management Analyst

Job Description

Job Description

SUMMARY OF POSITION :

This position is responsible for assisting with life-cycle risk management including completing applications for renewals, making recommendations to senior managers, working with underwriters and adjusters to ensure capital is deployed in accordance with best practices, tracking underwriting recommendations and influencing completion of recommendations in accordance with risk priorities.

Successful candidate will also have responsibilities for overseeing departmental budget and tracking costs for major capital growth projects.

Duties include analyzing insurance contracts in order to advise senior executives on strategies to maximum return on premiums paid, planning and hosting insurance audits in a way that showcases positives and minimizes risks, gathering and organizing data in support of open claims and lawsuits, and tracking recommendations and influencing development of short / long-term capital plans to minimize risks and avert losses.

Also responsible for tracking departmental costs and ensuring strict adherence to departmental budget.

MAJOR RESPONSIBILITIES :

• Manage departmental budget and ensure spending aligns with authorization. Maintain cost accounting and control data to ensure adherence to budget.
• Oversee insurance renewal process for all lines of coverage which includes tracking open risk recommendations, making presentations around risks and actions taken toward mitigation.
• Facilitate and host insurance audits and inspections which includes coordinating between production unit personnel and inspectors.
• Managing Certificates of Insurance with all onsite suppliers to ensure coverage is current and that it conforms to site requirements.
• Manage claims process for all losses and coordinate response to any loss or potential loss-related event.
• Cross-departmental collaboration to gather data and information necessary to complete insurance applications.
• Detailed review and analysis of financials to ensure insurance application data appropriately entered.
• Track open risk recommendations and influence stakeholders to take necessary actions.
• Provide updates of risk recommendations back to underwriters.
• Manage relationships with underwriters and their adjusters.
• Engage adjusters (as necessary) to ensure capital deployments align to best practices.
• Become intimately familiar with insurance contracts and advise leadership on opportunities to maximize benefit and return.
• Forecast, track and authorize insurance payments.
• Manage distribution of COIs to outside entities.

KEY SKILLS :

• Must be capable of effectively communicating, both verbally and in writing.
• Must be able to multi-task and demonstrate initiative toward identifying, prioritizing, and following-up on opportunities.
• Must have strong analytical capabilities.
• Must be self-motivated and good at problem solving.
• Ability to manage conflict and hold peers & superiors accountable for adherence to processes.

BASIC QUALIFICATIONS :

• Bachelor’s degree in business / finance / accounting related curriculum.
• 5 years of relevant work experience.
• Strong knowledge of Microsoft Office; proficient in use of Excel, Word, PowerPoint.

ADDITIONAL QUALIFICATIONS :

• Master’s of Business Administration
• Advanced user of MS Excel

Cornerstone Chemical Company is an affirmative action / equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, age, status as a protected veteran, among other things, or status as a qualified individual with disability.