Risk Management Analyst Jobs

Position Overview:

As a Risk Management Analyst, you will play a crucial role in supporting the department head in overseeing and managing all aspects of the corporate insurance programs. You will be responsible for compiling underwriting information, administering insurance policies, handling claims, and conducting loss forecasting and analysis to mitigate potential risks and assist in loss reduction. Your expertise will contribute to the overall risk management strategy of the organization, ensuring its financial stability and protection against potential threats. You will also assist the SVP Finance & Accounting and the VP Treasurer.

Responsibilities:

• Prepare comprehensive reports and presentations for senior management, highlighting risk exposures and proposing risk mitigation measures.
• Track and analyze claims data to identify trends, patterns, and potential areas for risk improvement.
• Utilize statistical and financial modeling techniques to forecast potential losses and assess their impact on the organization.
• Collaborate with internal stakeholders to gather relevant data and information for insurance underwriting purposes.
• Maintain accurate records of insurance policies, including coverage details, policy limits, and renewal dates.
• Assist in evaluating the organization's risk exposure and identifying appropriate insurance coverage options.
• Communicate risk-related information to key stakeholders, providing actionable insights and recommendations.
• Coordinate with insurance providers to process policy endorsements, cancellations, and other policy-related transactions.
• Work closely with operational teams to implement risk management best practices and preventive measures.
• Prepare regular risk management reports for departmental and executive review.
• Stay up to date with relevant laws, regulations, and industry standards related to insurance and risk management.
• Liaise with insurance brokers and carriers to negotiate terms and conditions of insurance policies, ensuring optimal coverage at competitive rates.
• Collaborate with internal teams and external adjusters to manage and expedite the claims process.
• Collaborate with cross-functional teams to develop and implement safety programs and loss prevention strategies.
• Monitor policy compliance and update stakeholders on any changes to insurance requirements or regulations.
• Conduct risk assessments and recommend risk mitigation strategies for new projects, initiatives, or business processes.
• Analyze historical loss data to identify risk trends and recommend strategies to reduce future losses.
• Facilitate the timely reporting of insurance claims and ensure all necessary documentation is provided.
• Ensure the organization's risk management practices adhere to legal and regulatory requirements.

Various administrative tasks as needed Qualifications:

• Proven experience in risk management, insurance, or a similar analytical role.
• Bachelor's degree in Risk Management, Finance, Business Administration, or a related field, or similar proven experience in Corporate Risk Management Department or Commercial Insurance Brokerage (as equivalency for degree).
• Familiarity with relevant regulations and compliance standards.
• Proficiency in data analysis and financial modeling.
• Knowledge of insurance policies, underwriting principles, and risk assessment methodologies.
• Ability to work collaboratively with cross-functional teams.
• Excellent communication and presentation skills.
• Professional certifications in risk management or insurance (e.g., ARM, CPCU) are a plus.
• Strong analytical and problem-solving skills with a keen eye for detail.