The Risk Manager will be responsible for overseeing the analysis, assessment, and management of risks across the company's insurance programs. This includes evaluating existing policies, identifying areas of potential risk, and implementing strategies to minimize exposure. The role requires a deep understanding of various insurance lines, including but not limited to property, casualty, liability, and workers' compensation. The Risk Manager will work closely with internal stakeholders and external insurance providers to ensure optimal coverage and risk mitigation strategies.
Key Responsibilities:
Risk Assessment & Analysis: Conduct in-depth analysis of the company's insurance policies to identify, quantify, and mitigate potential risks across all lines, including general liability, property, auto, and workers' compensation.
Insurance Program Management: Manage the company's insurance portfolio, ensuring proper coverage levels and cost-efficiency. Monitor policy renewals, premium changes, and policy amendments in line with the company's evolving risk profile.
Claims Management: Analyze and track claims data to identify trends, forecast potential liabilities, and develop strategies to reduce claim frequency and severity. Collaborate with legal and finance departments on claims settlement and litigation processes.
Risk Mitigation Strategy: Work with various departments to implement risk mitigation strategies, ensuring alignment with the company's overall business objectives. Provide insights into how insurance policies can support business decisions and minimize financial exposure.
Insurance Policy Compliance: Ensure all insurance policies comply with relevant state and federal regulations. Stay updated on insurance laws, regulations, and industry best practices.
Vendor & Broker Relations: Act as the primary point of contact with insurance brokers and carriers. Negotiate terms, evaluate proposals, and maintain strong relationships to optimize the company's insurance coverage.
Data Analysis & Reporting: Prepare risk and insurance-related reports, presenting insights and recommendations to senior management. Analyze risk data to inform strategic decision-making and contribute to the development of the company's risk management policies.
Continuous Improvement: Continuously review and improve the company's insurance strategies, ensuring they are aligned with industry trends and the company's risk appetite.
Qualifications:
Bachelor's degree in Risk Management, Finance, Business, or a related field (Master's degree preferred).
5+ years of experience in risk management, insurance analysis, or a related field.
Strong knowledge of insurance lines, including general liability, property, workers' compensation, and auto insurance.
Experience with claims analysis and management, risk mitigation strategies, and insurance compliance.
Proficiency in risk management software and tools.
Excellent analytical skills with the ability to interpret complex data and offer actionable insights.
Strong communication skills, both written and verbal, with the ability to present risk assessments and recommendations to senior leadership.
Ability to work independently and as part of a cross-functional team.