Insurance Risk Analyst

Our Favorite CITGO Perks are: Remote Work options available for eligible positions Options are department and/or location specific 9/80 Work Schedule Option (where applicable) Annual Vacation Incentive (40-120 hours of additional pay) for Eligible Employees Paid Vacation Time Company-Paid Holidays Parental Leave Excellent 401(k) Match Pension Plan Company-Paid Sick Leave and Long-Term Disability Medical, Dental, & Vision Plans; FSA and HSA options Company-Paid Life Insurance for Active Employees Healthy Rewards Program Service Awards Program Educational Assistance Plan Dependent Children Scholarships Reimbursement for Gym Membership Employee Discount Programs On-site Health Clinic On-site Cafeteria (select locations) On-site Credit Union and ATM (Corporate office only) On-site Fitness Center (select locations) PLEASE NOTE ALL JOBS DO NOT QUALIFY FOR ALL PERKSRelocationRelocation Benefits are not available for this position.NoteEmployer will not sponsor visas for positionJob Summary

To assist the insurance Risk Manager in identifying, assessing and analyzing CITGO's exposure to risk, both internally and externally. To coordinate with CITGO's insurance brokers and carriers in the placement of CITGO's insurance and alternative risk transfer programs.

Minimum Qualifications

Degree: 

• College Degree (Bachelors Level).

The minimun number of years of job related experience required by this job is:

• 2-5 years Risk and Insurance experience but can consider minimum of Risk and Insurance Degree.

List any specialized training or unique skills required:

• Chartered Property and Casualty Underwriter or Associate in Risk Management designations preferred.
• A valid driver's license is required.

Job Duties

Assist in the development and review of the corporate insurance programs to obtain competitive terms/pricing and adequate protection for CITGO operations.  Analysis includes consideration of proper retention and limits.  Directly responsible for smaller corporate programs.  If not reviewed properly it exposes the corporation to catastrophic loss.

Oversee requests for insurance renewal information from operating groups.  Analyze operating group's responses for consistency and accuracy.  Develop submission incorporating operating group's responses.   If not reviewed properly it exposes the corporation to catastrophic loss.

Manage timely receipt of accurate insurance policies following placements.  Verify that negotiated terms were included in policies issued by underwriters.  Note and advise brokers of any deficiencies. Oversee issuance of amending terms to bring policies in line with negotiated terms.  If not reviewed properly, leaves corporation subject to substantial gaps/shortfalls in coverage.

Manage information-flow between Company and insurance brokers for accurate and timely insurance application and submissions leading to on-time placement of all corporate insurance coverage.  Address any follow-up questions by underwriters.  If not properly completed it could affect claim settlements and coverage under policies. 

Owner Controlled Insurance Program ("OCIP") - responsible for providing critical underwriting information communications to broker/administrator; finalize details required for placement of Contractor insurance.   Track payroll, man-hours, premium audit and obtain annual expected loss. Convey requested premium and loss information for annual budget.  Manage site-visits and scheduling for OCIP Insurer's Safety Engineer.

Assist in management of captives. Manage financial information flow, audit questions.

Review contracts in regard to risk exposure and insurance placements as requested by operating groups.  Provide necessary contract language to address needs of operating groups.  If proper language not developed it could leave CITGO uninsured or unprotected through indemnity for several million dollars. 

Coordinate loss control and insurance inspections including the development of estimated maximum losses.  Working with operations to implement engineering recommendations.  Failure to manage could result in substantial capital expenditures and or un-insurability.

Participate in corporate crisis management response drills .  If not properly handled it leaves corporation subject to substantial losses.

Employment Type: OTHER