Job Description POSITION SUMMARY: The Sr.
Risk Analyst advises clients on actions to optimize their total cost of risk by developing and maintaining positive client relationships, overseeing client intake, onboarding, and annual risk management processes, preparing client documentation and reports, and assisting with contract negotiations with brokers and other third parties.
Essential Duties And Responsibilities Assist in managing client engagements to implement best-in-class risk management processes, optimize total cost of risk and ensure clients remain satisfied with services and program outcomes Collaborate and foster partnerships with and between clients, brokers, underwriters, internal claims management teams, and other parties to manage annual risk management processes Establish the parameters of broker agreements, negotiate and finalize agreements, and manage broker relationships Oversee the engineering coordination, recommendation, and response process by coordinating with clients to identify locations to visit, prioritizing findings to address key risks, managing engineering contracts, and coordinating capital expenditures Assist in activities to define insurance program parameters, evaluate opportunities to reduce redundant coverage, and identify optimal coverage options for clients Prepare insurance submissions and ensure all client data is accurate Ensure clients have renewal certificates issued and reviewed in a timely manner Prepare final quotes for clients, ensure the binding of coverage, and assist client in securing financing, as needed Create client presentations, reports, and manuals for use by clients and other partners Provide timely and accurate data to actuaries for completion of actuarial studies and create budgets to confirm program objectives are being achieved Assist in creation of client proposals and presentations Conduct due diligence, integration, and separation activities for mergers, acquisitions, and divestitures Lead client intake and onboarding activities Expand risk management knowledge and skills by participating in thought leadership and/or assisting senior leadership with activities related to topics including, but not limited to,business continuity planning, captives, and enterprise risk management Coordinate with other Risk International departments to ensure work is completed according to timelines and quality standards Act as a team leader to Risk Analysts by delegating work, and overseeing the completion of tasks Develop Risk Analysts’ skills and knowledge by educating and training them on the intent and process of assigned tasks, and delegating work in a manner that promotes increasing responsibility over time Provide regular feedback to Risk Analysts and provide input on their performance reviews Support a team-based environment that reinforces Risk International’s values of intelligence, integrity, consistency, energy, advocacy, service, and respect QUALIFICATIONS: To perform the position, an individual must be able to expertly perform each essential duty.
The requirements listed below are representative of the knowledge, skill, and/or ability required.
Education And/Or Experience It is required that individuals have completed a bachelor’s degree, with a strong preference for a degree in risk management, actuarial science, or related field.
Individuals should have a minimum of two to four years working in a risk analyst or similar capacity where experience included analyzing client data for the maintenance of insurance programs, coordinating between various parties to create new programs, creating submissions to obtain coverage, giving presentations and facilitating meetings to create collaborative solutions, and managing client relationships.
Certifications/Licensure/Registrations Preference will be given to individuals who have completed the Associate in Risk Management ( ARM) or equivalent certification and/or are working towards a Chartered Property Casualty Underwriter ( CPCU) or an equivalent certification.
Competencies The Sr.
Risk Analyst must have an intermediate level of competency and be working towards developing Advanced Competency Levels In The Following Client and Personal Service — Knowledge of principles and processes for providing client and personal services.
This includes client needs assessment, meeting quality standards for services, and evaluation of client satisfaction.
Risk Management Operations — Knowledge of risk management functions, processes, partners, quality control, costs, and other techniques for maximizing the effective delivery of services.
Communicating with Internal and External Partners — Providing information to partners within and outside the organization by telephone, in written form, e-mail, and in person.
Systems Evaluation — Identifying measures and indicators of system performance and the actions needed to improve and correct performance, relative to the goals of the system.
Oral Expression — The ability to communicate information and ideas verbally so others will understand.
Written Expression — The ability to communicate information and ideas in writing so others will understand.
Systems Analysis — Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
Fluency of Ideas — The ability to come up with a number of ideas about a topic.
Problem Sensitivity — The ability to tell when something is wrong or is likely to go wrong.
It does not involve solving the problem, only recognizing there is a problem.
Critical Thinking — Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions and approaches to problems.
Judgment and Decision Making — Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Making Decisions and Solving Problems — Analyzing information and evaluating results to choose the best solution and solve problems.
Active Listening — Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Law and Government — General knowledge of laws, legal codes, and government regulations.
Oral Comprehension — The ability to listen to and understand information and ideas presented verbally.
Written Comprehension — The ability to read and understand information and ideas presented in writing.
Complex Problem Solving — Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
Analyzing Data or Information — Identifying the underlying principles, reasons, and facts of information by breaking down information and data into separate parts.
Inductive Reasoning — The ability to combine pieces of information to form general rules and conclusions ( includes finding a relationship among seemingly unrelated events).
Deductive Reasoning — The ability to apply general rules to specific problems to produce answers that make sense.
Evaluating Information to Determine Compliance with Standards — Using relevant information and individual judgment to determine whether events and processes comply with laws, regulations, and standards.
Mathematics — Knowledge of arithmetic, algebra, statistics, and their applications.
Coordinating the Work and Activities of Others — Managing members of a group to work together to accomplish tasks.
Developing and Building Teams — Encouraging and building mutual trust, respect, and cooperation among team members.
Establishing and Maintaining Interpersonal Relationships — Developing constructive and cooperative working relationships with others and maintaining them over time.
Developing Objectives and Strategies — Establishing long-range objectives and specifying the strategies and actions to achieve them.
Identifying Objects, Actions, and Events — Identifying information by categorizing, estimating, recognizing differences and similarities, and detecting changes in circumstances and events.
Monitoring — Monitoring/Assessing performance of yourself, other individuals, and organizations to make improvements and take corrective action.
Administration and Management — Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, and coordination of people and resources.
Updating and Using Relevant Knowledge — Keeping up-to-date technically and applying new knowledge to your job.
Organizing, Planning, and Prioritizing Work — Developing specific goals and plans to prioritize, organize, and accomplish your work.
Sales and Marketing — Knowledge of principles and methods for showing, promoting, and selling services.
This includes sales strategy and tactics, services demonstration, and proposal writing.
Computer Skills To perform this job successfully, an individual should have knowledge of all Microsoft Office products and be able to learn new systems within a reasonable time.