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Form of workJob Description
Job Title:Risk Management Analyst
Location: 185 US-46, Fairfield, NJ 07004, United States (Hybrid)
JOB SUMMARY:
The Risk Analyst will report to the Senior Director of Risk Management, who is responsible for global Risk Management. The primary responsibilities will include insurance policy management, coordination and review; Working with various departments to compile and analyze underwriting information; Claims management, certificates of insurance, and surety bonds. Participating in risk analysis studies and the development and execution of Risk Management processes. Candidates must be creative, have excellent analytical and communication skills and thrive in a high-performance culture. Strong customer service to OUTFRONT’s internal customers is vital.
ESSENTIAL FUNCTIONS:
- Partner with insurance brokers, third party administrators, and finance leadership to manage comprehensive and thoughtful global insurance and Risk Management programs for the company including property and casualty, worker’s compensation, cyber, and executive risk programs through analysis of internal information, meetings with business leaders, and negotiations with insurance vendors
- Track claims, direct investigations, monitor reserves and maintain databases
- Benchmark TPA adjuster performance
- Compile, organize, maintain data and files for claims in litigation for discovery
- Partner with Safety and Operations Manager to triage serious incidents
- Develop metrics for claims by type, cause, frequency and severity in order to identify trends and communicate them to management
- Build and maintain strong relationships with TPA claim’s adjusters, outside legal counsel and internal business partners
- Pursue subrogation/recovery from third parties
- Assist in reviewing business contracts to ensure compliance with established corporate guidelines
- Oversee issuance of certificates of insurance and auto insurance identification cards
- Obtain and maintain surety bonds, files and process payments
- Participates in the development and execution of Risk Management processes including identifying and analyzing exposures to loss, researching mitigation Strategies through insurance products
- Prepare annual insurance and Risk Management overview for executive management
- Conduct invoice audits for accuracy
ADDITIONAL SKILLS
- Strong analytical, written and oral communication skills
- Ability to work independently and as part of a team on simultaneous projects or initiatives
- Ability to multi-task and transition between tasks while maintaining attention to detail and accuracy
- Good analysis, research, and problem-solving skills
- Good organizational skills, detail oriented, and ability to prioritize tasks, good follow-up skills
EDUCATION AND/OR EXPERIENCE
- Bachelor's degree in Business Administration or a related field
- Insurance experience (5-7 years) within broker, insurer or Risk Management department preferred.
- Understanding of Risk Management, insurance, and contractual liability concepts
- Proficiency with Microsoft Word, Excel and PowerPoint
