Insurance Risk Analyst at ICU Medical, Inc. in Springfield, Illinois

Job Description:

Position Summary



The Insurance Risk Analyst plays a vital role in supporting our global insurance program. Under the guidance of our Corporate Risk Manager, the Analyst helps drive risk management initiatives forward. The role requires a meticulous approach to detail, strong organizational and interpersonal skills, excellent communication abilities, a passion for risk management and commitment to insurance fundamentals, and a collaborative mindset.



Essential Duties & Responsibilities

• Assist the Corporate Risk Manager in managing and administering multiple insurance programs, including global liability, product liability, workers' compensation, and other corporate insurance coverages that protect our worldwide manufacturing operations, employees, and corporate assets.
• Assist with the data collection, analysis, and management to support the insurance renewal process, including:
  • Collaborating with various departments (IT, Payroll, HR, Legal, Regulatory, etc.) to gather and validate data for insurance applications.
  • Developing and maintaining accurate and comprehensive insurance data, including Statements of Value (SOV), asset schedules, and other critical information.
  • Supporting the preparation and submission of insurance applications, renewals, and other related documents.
• Foster and maintain a strong working relationship with our designated broker representatives, ensuring seamless collaboration and communication throughout the insurance renewal process and beyond.
• Assist in managing and maintaining all insurance exposure data, documents, and electronic risk management files.
• Review and analyze contracts to ensure insurance provisions align with company requirements and comply with customer contractual requirements.
• Assist internal departments with insurance certificate requests, proof of insurance, claims processing, and coordinate interface with insurance brokers.
• Manage and maintain a centralized repository of insurance documents, ensuring accuracy, completeness, and organization, including:
  • Verifying receipt of all insurance documents, including binders, policies, endorsements, and related materials.
  • Reviewing documents for accuracy and completeness.
  • Maintaining up-to-date and orderly electronic and physical files.
  • Creating redacted policies and documents as required for sharing with stakeholders, such as customers, vendors, or auditors.
• Oversee billing and invoicing related to insurance programs, ensuring accuracy and timely payments.
• Provide excellent customer service to internal clients with the ability to prioritize multiple requests and meet deadlines such as providing COI requests, ad hoc analysis on requests, and coordinating risk assessment site visits with insurers engineers.
• Other risk management duties as assigned.

Knowledge & Skills

• Strong computer skills and expertise in Microsoft Excel required.
• Impeccable attention to detail.
• Ability to work independently and also be a collaborative team member.
• Ability to maintain a high level of confidentiality.
• Strong organizational and time management skills, with the ability to manage multiple matters and accommodate tight deadlines while working in a fast-paced and rapidly evolving environment.
• Ability to effectively communicate with all levels of management, orally and in writing.

Minimum Qualifications, Education & Experience

• Must be at least 18 years of age.
• Bachelor's degree in Business, Accounting, Risk Management, Finance or related field from an accredited college or university is required.
• Basic Knowledge and experience in areas of Finance/Accounting, Risk Management, or Insurance required.
• 1-2 years of experience working in Accounting/Finance for large global company preferred.
• Deep experience with the advanced features of Excel preferred.

Work Environment

• This is largely a sedentary role.
• This job operates in a professional office environment and routinely uses standard office equipment.
• Typically requires travel less than 5% of the time.

ICU Medical is an Affirmative Action and Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against on the basis of disability.

This role is based remotely; the incumbent may be remote in any state other than Colorado; California; Connecticut; Montana, Maine or New York. Apply Now