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Principal Responsibilities and Essential Duties:
The Sr. Risk Management Associate will support the Director in the creation and continuous improvement of a best-in-class Global Risk and Insurance function. Candidates must be creative, outgoing, and innovative, with a desire to learn, improve, and possess excellent analytical and communication skills. Candidates must possess the ability and drive to thrive in a high-performance culture, have a “can-do” attitude, be willing to take on broader projects, and think proactively.
The primary responsibilities will include supporting the Director with insurance policy management, negotiation, renewal support, and coordination with markets and brokers to achieve timely and market efficient renewals. The Sr. Risk Management Associate will work with outside coverage experts to assure risk transfer is aligned to risk appetites of Verisk and will work to compile and analyze underwriting information, perform claims management, data analysis, assist with issuance of certificates of insurance, conduct contract reviews, create presentations/reports, and provide general customer service to internal and external stakeholders. The Sr. Risk Management Associate will also assist the Director with special projects as needed.
The Sr. Risk Management Associate is responsible for the research and preparation of Insurance Due Diligence Reports for Business Development on prospective M&A transactions while facilitating insurance integration of newly acquired companies. The Sr. Risk Management Associate is to be involved with the procurement and management of the Representations and Warranties Insurance Programs, supporting various M&A transactions.
Support all insurance renewal projects, including exposure collection and analysis; assist in the preparation of market presentations and other marketing information, help to negotiate, and justify positions taken by Verisk in advocacy and marketing of the program globally.
Manage M&A DD and prepare all steps for integration of new companies to present to Director and upon approval manage the integration to completion.
Maintain complete current and archived insurance policies; prepare and maintain current schedules of insurance.
Oversee issuance of certificates of insurance, Work Comp notices, Surety Bonds, and auto insurance identification cards.
Prepare budget and premium allocation/forecast strategies.
Perform monthly claim payment reconciliations and input to reserve analysis.
Assist with claim management, including interaction with third-party claim administrators, in-house counsel, outside counsel and other internal stakeholders; use online claims systems as available or applicable.
Review and analyze invoices and manage the Basware system as well as other automated systems including Concur, Supplies, and others in support with the efficient execution of Departmental responsibilities.
Create and disseminate regular reports of key metrics (dashboards), manage, and maintain the ERM Portal, Conduct binder and insurance policy reviews and schedules of insurance.
Responsible for supporting the Director regarding insurance reporting, analysis and compliance needs including leading all information gathering on M&A and other related diligence requirements.
Assist on Special Projects as required.
Completes all responsibilities as outlined on annual Performance Plan.
Completes all special projects and other duties as assigned.
Must be able to perform duties with or without reasonable accommodation.
Bachelor’s degree in Finance, Risk Management, Insurance, or related field of study; MBA preferred.
3-5 years of relevant experience in the field of Risk Management and Corporate Insurance as a risk management analyst, underwriter, broker, or related position, reflecting increasing levels of responsibility, or an equivalent combination of education and experience.
Experienced in property and casualty and/or professional lines of insurance.
Comfortable engaging with/managing key industry relationships including brokers, underwriters, consultants, and other third parties.
Ability to manage and oversee claims processes and correspondence with insurers, brokers, and other key stakeholders.
Ability to read and understand insurance policies and other contracts and agreements, evaluate exposures, and review contracts to align with corporate insurance policy and practice.
High-level understanding of due diligence in ERM applications, particularly regarding M & A, contractual risk transfer methodologies, and procurement of goods and services.
Adept in managing multiple projects under deadlines with changing priorities, with the ability to work both independently and in team environments.
Ability to maintain collaborative and consultative relationships with department heads and other corporate partners.
Ability to build and modify databases, analyze data, create reports and tools, and implement new and more efficient solutions and systems.
Superior analytical, quantitative, and creative problem-solving abilities. Highly organized, with special attention to detail.
Willingness to travel domestically / internationally as needed for key meetings with underwriters, brokerage partners, for industry events / conferences, etc.
Excellent computing skills including MS Office (Word, Excel, Outlook, Teams, and PowerPoint), invoice administrator systems, etc.
Certification/designation in ARM, CPCU a plus.
Excellent written and verbal communication skills; professional manner and approach to written and verbal communication and presentation skills.