Risk Management and Insurance Manager

Reporting Line: Director of Risk & Claims

Role Summary: This position, reporting to the Director of Risk & Claims, is responsible for leading risk management initiatives, including managing the insurance portfolio, overseeing claims, administering risk management systems, and coordinating loss control efforts. The role aims to minimize financial risks, safeguard company assets, ensure compliance with regulations, and optimize risk transfer strategies in collaboration with brokers and advisors. Additionally, the manager will work closely with internal departments to assess and mitigate organizational risks.

Key Interfaces:

• Internal: Treasury, Legal, HR, Operations, Safety, Commercial Teams, Billing
• External: Brokers, Advisors, Underwriters, Claims Adjusters, Auditors

Main Responsibilities:

• Oversee procurement, negotiation, and renewal of insurance policies, ensuring alignment with operational needs and regulatory requirements.
• Conduct audits of insurance coverage for accuracy and adequacy.
• Manage the claims process, ensuring timely reporting and resolution in collaboration with relevant stakeholders.
• Develop strategies to reduce claims frequency and severity, analyzing data to identify trends.
• Maintain accurate data in the Risk Management Information System (RMIS) and generate performance reports for leadership.
• Collaborate with operational departments to implement proactive risk mitigation strategies.
• Ensure compliance with regulations and industry best practices in all risk management processes.
• Foster relationships with external partners, including insurance brokers and legal advisors.

Key Performance Indicators (KPIs):

• Cost of risk transfer and loss metrics
• Savings on insurance premiums and collateral
• Data accuracy in RMIS reports

Experience

• Bachelors in Risk Management, Insurance, Finance, Business or related is required
• Preference given to those holding a CPCU, ARM or other industry designation
• Excellent analytical and problem solving skills
• 5+ years of relevant experience

This role is crucial in enhancing the organization's risk management framework and ensuring robust insurance coverage while optimizing costs.