Senior Analyst, Risk - Insurance

Overview

Manage and optimize corporate insurance programs and risk analytics.

Key Responsibilities

• claim reporting
• surety bond
• policy review
• coi management
• budget forecast
• data analytics

Tasks

-Reporting on claim metrics: Workers’ Compensation, General Liability, Auto Liability, Property, etc. -Confirming any insurance required of American Water adheres to internal guidelines, industry standards, and existing insurance programs. -Maintain Property Statement of Values (SOV). Update for acquisitions & dispositions and reporting to property insurers -Track surety bond issuance activity and identify opportunities to close bond obligations, ensuring billing is properly administered. -Acting as a point of contact for the Company’s insurance brokers for all insurance-related concerns. -Drafting renewal planning reports for management. -Assist the Sr. Manager, Insurance (or Director, Insurance) in performing all necessary tasks as they pertain to insurance coverages related to acquisitions or dispositions. -Creating and leading the implementation of process improvements for the insurance function -Assisting in the claims management function. -Special Projects and Other Tasks: Assist and/or lead special projects as needed such as: -Presenting findings to key stakeholders at all levels within the organization. -Review acquired entities’ insurance policy terms and conditions including key changes pertaining to Change of Control provisions. -Developing and maintaining allocations, budgets, and forecasts. -Assisting in the completion of applications, underwriting submissions, and renewal presentations. -Insurance Renewal Support: Support the development, implementation, and administration of company’s insurance programs through the following: -Partner with various internal matrix partners (such as Legal, Sourcing, Procurement, Supply Chain, and Business Development) to recommend exceptions and waivers to standardized insurance contract terms. -Ensuring that the company adequately transfers risk based on the scope of the agreement. -Contract Review: Assist in the contract review process by: -Manage Insurance for New Acquisitions -Providing key feedback and new ideas related to the overall risk and insurance management of American Water -Allocations, Budgets, and Forecasts: Support in all aspects of financial reporting including: -Ensuring all acquisitions activity is tracked and reported timely to the broker to prevent potential gaps in coverage. -Assist the Sr. Manager, Insurance (or Director, Insurance) in all ad-hoc tasks related to the Surety Bond Program management. -Data Analytics: Assist in developing the data function within Insurance department by performing tasks such as: -Tracking Total Cost of Risk (TCOR): Premiums, Retained Losses, Professional Fees, Miscellaneous Expenses. -Certificate of Insurance (COI) Requests: Manage the internal COI process by: -Responding timely to internal and external requests for COIs and ensuring accurate COI issuance. -Respond to internal requests related to the allocation & budgeting. -Providing input on overall insurance purchasing strategy. -Collecting and validating insurance exposure data. -Drafting renewal proposals for management approval. -Ensuring accuracy in any financial data provided internally or externally. -Lead all aspects of automating the end-to-end Surety Bond request process driving efficiencies in partnership with internal partners, external brokers, and other subject matter experts. -Manage Insurance for New Acquisitions: Continuously monitor the new acquisitions pipeline (and impending divestitures) to onboard (or dissolve) insurance coverages for newly acquired or dispositioned entities in alignment with the Insurance department’s three long-term goals through engagement with internal business partners, insurance brokers and other advisers: -Lead all components of the invoice payment process related to the insurance function. -Managing the COI self-issuance process with the company’s insurance brokers.

Requirements

• cpcu
• arm
• microsoft
• ecarma/risktrac
• master’s
• 3-7 years

What You Bring

-Ability to work collaboratively with people at all levels in an organization. -Experience with contract reviews, insurance certificate management, and data analysis. -Chartered Property Casualty Underwriter (CPCU) or similar designation. -Familiarity with internal regulatory compliance (e.g., Sarbanes-Oxley, Internal Audit). -Associate in Risk Management (ARM) or similar certification. -The right candidate will have the internal drive to learn and grow their career in risk management and insurance. -Knowledge of federal, state and local laws, regulations and tariffs applicable to utilities. -Structured problem-solving approach with demonstrated aptitude for analytical and conceptual problem-solving. -Experience with underwriting or similar corporate functions within the insurance industry or in a similar industry. -Excellent written & verbal communication skills. -3-7 or more years in insurance company, broker, or corporate risk transfer function -Knowledge of and experience with water utility and related services business risks is preferred but not required. -Understanding of Property, Casualty, and Financial Lines of insurance. -Proficiency with Microsoft products and knowledge of eCARMA and RISKTRAC or other analytical claims software. -Up to 10% - nationwide. -Excellent presentation skills -Master’s degree in a relevant field is advantageous. -Broad understanding of insurance policy coverages, terms, conditions and exclusions. -Bachelor’s degree in Risk Management and Insurance, Finance, Analytics, or similar areas. -Knowledge of insurance markets and industry trends. -Familiarity with external regulatory compliance (e.g., Contractual compliance)

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Benefits

-Insurance Renewal Support -Surety Bond Program Management -Hybrid (HQ - Camden, NJ)

About American Water

-Provides vital water and wastewater services, ensuring communities have access to clean water. -Has a long history of managing water infrastructure in partnership with municipalities. -Recent projects include modernizing infrastructure, expanding service coverage, and improving water treatment facilities. -Known for innovation in water management, offering sustainable solutions to modern water challenges. -A trusted provider for residential, commercial, and industrial customers across the U.S.

Sector Specialisms