Manager Insurance and Corporate Risk

Job Summary

This position is responsible for the implementation and administration of the risk financing and insurance program for the entire corporation, including the diversified portfolio of subsidiaries engaged in electric generation; electric, gas, steam and water distribution; pump manufacturing and other non-utility businesses.

Job Responsibilities

• Identify, analyze, and evaluate risk exposures to the corporation
• Select, recommend and implement appropriate cost-effective solutions for managing identified risk exposures using appropriate risk financing, risk transfer and risk control techniques; preparing and presenting recommendations to the Treasurer, CFO or Office of the Chairman as appropriate
• Manage the procurement, renewal, and record keeping of all corporate insurance
• Manage the underwriting information collection, maintenance and submittal process
• Manage the coordination between the corporate master insurance program and the underlying primary insurance coverages
• Monitor policy terms and market conditions making necessary adjustments to the policies or program when necessary
• Develop and monitor the premium allocation schedules; and assist in the preparation of the utility insurance budget
• Negotiate and settle insurance claims
• Manage broker and agent relationships, negotiating the level of service and associated fees, and documenting the agreed upon terms and conditions with service agreements
• Manage insurer relationships, including underwriting, claims and loss control
• Review and provide input on contracts and agreements being considered by the corporation
• Provide risk management and insurance advice on major projects undertaken by the corporation
• Manage the procurement of surety bonds and the issuance of certificates of insurance
• Conduct risk management due diligence reviews on proposed mergers and acquisitions
• Provide insurance related budget input across the corporation
• Assist business units and subsidiaries in addressing specific issues with brokers and insurers
• Develop and conduct risk management related employee training as requested
• Assist in procuring insurance for joint ventures when necessary
• Insurance Risk Management Program
• Identify, analyze, and evaluate corporate risk exposures & implement appropriate management solutions
• Manage the procurement, renewal, and record keeping of all corporate insurance
• Manage the corporate claims process in coordination with Legal, HR and Accounting
• Coordinate with legal counsel to negotiate and settle corporate insurance claims
• Manage insurer and broker relationships
• Manage the corporate insurance budget

Minimum Qualifications

• Bachelors Degree in Business or related discipline
• 5-10+ years experience in the insurance risk management process preferably for a large similar industry
• Applied knowledge of insurance and risk management principles and accounting
• Experience in all major commercial property and casualty insurance coverage in both the primary and excess layers
• Strong communication, judgment, computer & technology, problem solving, negotiating, planning and organizing skills are necessary
• Must exhibit the ability to make decisions without all the facts, set priorities and address emergent issues, meet deadlines, understand the direction and needs of the corporation, and support and defend decisions
• Must be comfortable operating in an environment with a wide degree of ambiguity and latitude

Preferred Qualifications

Experience in: 

• MBA or Chartered Property Casualty Underwriter (CPCU) designation or equivalent
• Associate in Risk Management (ARM) designation
• Accounting/Finance 
• Counterpart credit risk 
• Invested funds (pension, OBEP & 401K) oversight 
• Mangement of company investments