What are the responsibilities and job description for the Insurance Risk & Compliance Manager position at Axis Energy Administration?
Description
The Insurance Risk & Compliance Manager ensures that the organization conducts its business processes in compliance with laws and regulations, professional standards, and accepted business practices and is responsible for managing the risk insurance programs that ensure that our company remains fully compliant with relevant local, state, and federal regulations, advising leadership on possible risks that might occur, and managing the incident reporting and claims processes.
Essential Duties and Responsibilities
The essential functions include, but are not limited to the following :
- Oversees a range of claims programs including general and liability, auto, and workers' compensation and manages the incident reporting and claims processes.
- Monitors major and critical insurance risks & manages the process for elevating insurance issues to senior management when appropriate.
- Works closely with legal on pending claims and litigation, notifications to insurance underwriters of potential claims under the current and legacy policies.
- Processes requests for Certificates of Insurance (COIs) and responds timely to department requests related to certificates of insurance.
- Facilitates cross-departmental engagement to identify and mitigate existing and emerging risk.
- Manages the insurance and risk budget, including premium forecasting and allocation, and the payment and related accounting interaction for all insurance.
- Processes insurance claims by working with the districts on incident reporting, the insurance broker, and underwriters and partners with all departments regarding incident reports and claims or losses.
- Ensures the timely payment of insurance premiums to the broker and finance & accounting department.
- Identifies and tracks loss trends to recommend and implement policy, procedural and structural changes as necessary.
- Assists with the assessment of risk and provides recommendations on how insurance can mitigate risk to an acceptable risk tolerance level.
- Prepare insurance risk management reports for management based on internal reviews and provide recommendations to management on risk mitigation measures and implementation of adequate compliance programs.
- Identifies potential risk exposures, recommends solutions, implements approved programs, promotes loss prevention, and updates and monitors compliance.
- Works with the company's insurance brokers to respond to requests for certificates of insurance and claims history document.
- Partners with key stakeholders to develop and implement standards, processes, programs, and best practices related to risk management.
Requirements
Minimum Qualifications (Knowledge, Skills, and Abilities)
