Risk Management Specialist

5 days ago


Northbrook, Illinois, United States CF Industries Full time
Job Summary:

The Risk Analyst III will oversee CF Industries' corporate-wide risk management and insurance programs. This role involves participation in broad assignments involving cross-functional internal teams and external service providers. The incumbent will serve as a subject matter expert to internal stakeholders and provide direct oversight of the preparation of underwriting submissions and presentations, reviewing coverage binders and insurance policies, reviewing policy audits, contract reviews, and claim handling.

Key Responsibilities:
  • Insurance Program Administration: Leads collection of renewal information from internal stakeholders and prepares submissions for insurance policy placements and prepares marketing materials.
  • Financial Planning and Analysis: Leads budgeting and allocation of insurance charges among operating units and departments, tracks and prepares reports on insurance premiums and loss data as directed.
  • Policy Review and Analysis: Oversees review of insurance policies to confirm compliance with negotiated terms and conditions, including resolution of any detected discrepancies. Performs policy scenario analyses to identify program response and potential coverage gaps.
  • Claims Management: Facilitates communication with internal stakeholders on the reporting of and processing of claims, ensuring understanding and compliance with global reporting procedures and provides day-to-day support & service to all locations with regard to the application and interpretation of the company's insurance programs.
  • Loss Prevention and Risk Management: Coordinates loss prevention assessments and tracks execution of risk improvement plan activity in collaboration with site personnel and internal stakeholders and oversees loss prevention reporting to carriers and brokers as directed.
  • Vendor Management: Works with third-party administrators and brokers to effectively manage claims and process workflow. Identifies and recommends a course of action that provides the most cost-effective resolution of routine claims.
  • Financial Management: Ensures accuracy and timely payment of invoices and payments from external parties for any insurance payments due and return premiums or other credits due, and oversees placement of NDA's and contractual agreements with insurance carriers and vendors.
  • Risk Assessment and Mitigation: Supports monitoring of all new areas of business and exposure, ensuring that new entities, properties, automobiles, and employees are added to current insurance policies on a timely basis.
  • Business Development: Supports assessments of new risk areas to determine appropriate insurance requirements, including construction and acquisition projects.
  • Team Collaboration: Participates on cross-functional project teams focused on risk management practices, design, development, integration, and enhancement efforts.
Requirements:
  • Education: College degree in a related field is required, additional training in Risk Management / Insurance is required.
  • Experience: 3+ years of related professional experience in insurance / risk or related areas including operations and finance, OR an equivalent combination of education, training, and work experience.
  • Attributes: Prior risk management and insurance experience within a manufacturing / operations environment is preferred. Demonstrated analytical and problem-solving acumen. Working knowledge of commercial operations, risks, and fundamentals of business management. Possess excellent organizational skills and the ability to work on multiple tasks with little supervision. Computer savvy with strong working knowledge of full MS Office Suite.


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