Job Description

This is a senior insurance and risk management position with authority to make decisions on risk management issues affecting the organization. Accountable for achieving strategic objectives, ensuring effective hazard (typically insurable risks) risk management for the organization and supervising, leading and/or directing key risk stakeholders. This person typically owns the process of identifying, measuring and managing insurable or hazard risks, developing reports and plans, and analyzing risk/insurance problems and defining and/or overseeing the implementation of the risk solutions that help optimize operations.

Responsibilities

• Identifying and assessing potential risks within the organization
• Developing and implementing risk management policies and procedures
• Managing and negotiating the organization’s insurance programs
• Maintaining up-to-date knowledge of relevant legal requirements and industry trends
• Coordinating with different departments to ensure compliance with risk management strategies
• Conducting policy and compliance audits to ensure all departmental actions are within the bounds of the organization’s risk tolerance
• Advising management on the impact of new laws on risk exposures
• Establishing risk management metrics to track the effectiveness of risk mitigation efforts
• Participate in the resolution of insurance claims and ensure that the organization complies with insurance terms and requirements.
• Coordinating with legal counsel and insurance companies to handle any claims that arise
• Preparing risk management and insurance budgets and allocating claim costs
• Prepare risk management reports for upper management, keeping them informed of changes in the  insurance market and business environment.

Qualifications

• Proven work experience as a Risk and Insurance Manager or similar role.
• Strong understanding of risk management techniques and insurance strategies.
• Excellent decision-making and leadership abilities.
• Strong negotiation skills.
• Knowledge of risk assessment tools, technologies and methods.
• Experience with claims management.
• Understanding of legal and regulatory requirements related to risk management and insurance.
• BSc degree in Business, Finance, Risk Management or relevant field.

Skills

• Strong analytical and problem-solving skills to identify and assess potential risks and determine the appropriate mitigation strategies.
• Comprehensive knowledge of insurance policies, procedures, and regulations, enabling them to advise the organization effectively on insurance-related matters.
• Excellent communication and interpersonal skills to clearly explain complex risk assessments and insurance issues to stakeholders at all levels of the organization.
• Strong negotiation skills to liaise with insurance providers and secure the best insurance cover for the organization at competitive rates.
• Strong attention to detail and organizational skills for handling numerous tasks and projects simultaneously, while ensuring accuracy and meeting deadlines.
• Financial acumen to budget for and control insurance costs, and to analyze the financial implications of risk.
• Experience with risk assessment tools and software to evaluate potential risks and their impact on the organization.
• High level of integrity and professional ethics as they handle sensitive and confidential information.

Job Tags

Similar Jobs