Position Title: Risk Analyst
Reports to: Director of Risk Management Services
- JOB SUMMARY
The Risk Analyst will be responsible for providing an overview of the insured/client’s comprehensive insurance and risk management program. Responsibilities include assessing and identifying risks that could impede the reputation, safety, security, or financial success of the organization. Assist with the claims administration, loss forecasting, and analysis to assist in loss reduction for our client/insureds. Supports department director regarding all aspects of client’s/insureds insurance programs.
Performs the design, analysis and delivery of data analytics and claim information. Engages with insureds as it relates to complex claims. This role focuses on operational effectiveness in support of claims management strategies.
- POSITION FUNCTIONS
- Analyst client/insured metrics data to determine the risk and exposures to assist clients to make sound financial decisions.
- Create reports and data analytics and assist in providing recommendations to clients to reduce risk and exposures.
- Drafts and presents risk reports to Sales/Marketing and Commercial Lines.
- Take the lead of the Stewardship Program for Gold and Platinum Accounts by overseeing the completion of stewardship tasks.
- Assist the Sales/Marketing and Commercial Lines department by collecting and analyzing documentation, statistics, reports, and market trends.
- Assist in providing Benchmarking data utilizing insurance data, i.e., premiums, limits, retentions, limit adequacy, and rates to internal and external partners.
- Performs other duties as directed.
- The Risk Analyst is responsible for adherence to the expectations of the E&O Plus Quality Management Program.
- C. PERSONAL AND ORGANIZATIONAL DEVELOPMENT
- Set priorities and manage workflow to ensure efficient, timely and accurate processing of transactions and other responsibilities.
- Maintain a cordial and effective relationship with clients, coworkers, carriers, vendors and other business contacts.
- Keep informed regarding industry information, new product information, legislation, coverages and technology to continuously improve knowledge and performance.
- KNOWLEDGE, SKILLS AND ABILITIES
- Analytical – Must be able to quickly analyze a large collection of data, then create reports and determine results.
- Decision making – The ability to quickly analyze data and make a decision.
- Project management – The ability to organize and manage multiple projects.
- Thorough understanding of policies and best practices of risk management.
- Excellent verbal and written communication skills.
- Excellent mathematical and critical thinking skills.
- Excellent organizational skills and attention to detail.
- Proficient with Microsoft Office Suite or related software to prepare reports and policies.
- OTHER REQUIREMENTS
- Bachelor’s degree in Risk Management, Insurance, or related field preferred.
- At least one year of related experience preferred.
- Must have all license as required by the State Department of Insurance to discuss and/or sell insurance in states where the agency functions.
- Ability to use personal computer, calculator, agency automation system, and proficiency in various software programs, including but not limited to Microsoft Word and Excel.
- Physical Activities and Requirements of This Position:
- 1. Finger Dexterity:
Using primarily just the fingers to make small movements such as typing, using writing instruments,
picking up small objects, or pinching fingers together.
- 2. Repetitive Motions:
Using hands, wrists and/or fingers.
Especially where one must convey detailed or important instructions or ideas accurately, loudly or
- Average Hearing:
Able to hear average or normal conversations and receive ordinary information.
- Average Visual Abilities:
Average, ordinary visual acuity necessary to prepare or inspect documents or products, or operate
- 6. Physical Strength:
Sedentary work. Sitting most of the time. Exerts up to 10 lbs. of force occasionally.
- WORKING CONDITIONS
Fast-paced multi-tasking environment.