Business Insurance and Risk Manager

2 months ago

Hawthorne, United States Magnolia River Full time

Magnolia River is looking to hire a Business Insurance and Risk Manager who will be responsible for protecting the organization against financial losses and liabilities, ensuring regulatory compliance, and promoting a culture of risk awareness and mitigation.

The ideal candidate will have experience in many of the below areas:

  • Claims management (auto, marine, aircraft, workers compensation etc.)
  • Insurance renewals
  • Knowledge across multiple lines and the ability to learn and understand new ones in a timely manner
  • Ability to analyze claims data and make recommendations as to how improvements can be made
This role can sit remote with occasional meetings at our local area offices.

Compensation range is $75-95k depending on experience.

Magnolia River is a premier provider of engineering, inspection, GIS, software, and consulting services for the utilities, oil and gas, water, and pipeline infrastructure industries. We are backed by Warren Equity Partners and have a presence in 40 states with over 1000 employees.

Duties and Responsibilities:
  • Review and analyze insurance policies, premiums, and coverage limits to optimize protection while controlling costs.
  • Collaborate with insurance brokers, underwriters, and other stakeholders to secure competitive quotes and negotiate favorable terms.
  • Coordinate with the safety department to develop and implement risk management strategies to reduce the likelihood of insurance claims and minimize potential losses.
  • Ensure compliance with all applicable insurance regulations, including reporting requirements, policy renewals, and claims processing.
  • Conduct regular audits and assessments of insurance coverage to identify gaps and opportunities for improvement.
  • Provide guidance and support to internal departments on risk reduction, incident reporting, and claims investigation.
  • Manage all claims reported to the insurance carrier and resolve all claims that fall under the deductible to successful conclusion.
  • Prepare and maintain OSHA 300 and OSHA 300A reports in collaboration with the Director of Safety and Risk.
  • Verify that subcontractors have appropriate insurance coverage in place prior to commencement of work. Review certificates of insurance, ensuring that coverage meets contractual requirements, coordinating additional insured requirements and tracking expiration dates to prevent lapses in coverage.
  • Assist clients in understanding the organization's coverage, providing clarification on liability, indemnification, and insurance provisions within contracts or agreements.
  • Manage and ensure business registrations and firm licensure for professional service lines (Engineering and Survey) are up to date and compliant with relevant laws and regulations in all jurisdictions where it operates.
  • Manage and track COAs/professional licensures for all companies and assist licensed employees with monitoring their professional licensure. Maintain rapport with staff at professional licensing boards.
  • Coordinate efforts to seek redundancy in professional licensing to avoid single points of failure
  • Manage compliance activities for related Professional Practice Entities (PPE) in coordination with Legal
  • Perform other duties as assigned
Knowledge, Skills, and Abilities:
  • In-depth understanding of insurance principles, policies, and practices, including bond insurance.
  • Knowledge or relevant laws, regulations, and compliance standards related to business insurance and registration.
  • Familiarity with risk management strategies and techniques to minimize organizational liabilities.
  • An established network of injury risk management options such as occupational clinics and triage nurses
  • Experience with monopolistic state worker's compensation requirements
  • Understanding of contract language and insurance provisions to negotiate favorable terms.
  • Proficient in Outlook and MS Office programs
  • Excellent written and oral communication and interpersonal skills to effectively and diplomatically communicate at every level within the organization
  • Excellent listening skills
  • Ability to perform in a detail-oriented environment with a high level of accuracy
  • Ability to organize, prioritize, and perform multiple work assignments simultaneously
Education and Experience:
  • Bachelor's degree in business administration, risk management, insurance, finance or a related field plus a minimum of five (5) years of relevant experience OR a combined combination of education and experience.
  • Certified Insurance Compliance Professional (CICP) or similar professional designation(s) preferred.
  • Knowledge of the utility industry preferred
Additional:
  • Must possess a valid driver's license and a clean driving record
Physical Demands:
  • Duties are primarily performed in an office environment and at client job sites
  • Must be able to remain in a stationary position at least 50% of the time
  • Constantly operate a computer and other office productivity equipment
  • The person in this position frequently communicates with co-workers and clients
  • Must be able to thoughtfully exchange accurate information
  • Must be able to travel up to 25% of the time.
Disclaimer:
  • Nothing in this job description restricts leadership's right to assign or reassign duties and responsibilities to this job at any time
  • This description reflects leadership's assignment of essential functions. It does not prescribe or restrict the tasks that may be assigned
  • This job description is subject to change at any time

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