Risk Management Specialist

2 days ago

Chicago, Illinois, United States Metropolitan Water Reclamation District of Greater Chicago Full time
Job Summary

Under the direction of senior management, the Risk Manager will develop and administer a comprehensive risk management program for the Metropolitan Water Reclamation District of Greater Chicago. This position will identify and analyze potential risks, develop strategies to mitigate these risks, and oversee the purchase of risk-related insurance programs.

Key Responsibilities
  • Develop a risk management strategy for the District, identifying short and long-term goals, and researching current and state-of-the-art trends in risk management, loss control, and claims management strategies.
  • Identify and analyze potential impact of exposures of loss faced by the District and work with others to develop strategies to mitigate these risks.
  • Direct the purchase of risk-related insurance programs, including self-insured programs, and negotiate insurance placement, pricing, coverage, structure, limits, and retentions/deductibles for all insurance policies.
  • Manage risk management vendor relationships and service agreements, including insurance brokers, third-party administrators, insurance companies, and risk management information systems (RMIS).
  • Provide consultation and technical advice on insurance and risk management issues to senior and operating management, and prepare and present periodic reports to senior and operating management.
  • Work with the Law department to establish contract standards for insurance and indemnification language, and review leases, contracts, and other legal documents to assure compliance with insurance and risk management policies.
  • Collaborate with Safety and operational management to establish and maintain a strategy for assuring a safe work environment and for reducing the incidence of worker injury, including an effective Return-to-Work program.
  • Analyze loss data to identify key trends and develop appropriate cost containment techniques.
  • Coordinate internal and external loss control activity, and review and provide recommendations on insurance carrier loss prevention reports.
  • Oversee the District's non-litigated liability, property, workers' compensation, and other miscellaneous insurance-related claims management processes and activities.
  • Develop and maintain the District's Emergency Operations Plan and Business Continuity Plan and related documents, and develop and coordinate exercises to train key staff and test the plans.
  • Prepare and manage the annual risk management budget, including insurance, claims, and associated services.
  • Develop standard processes and procedures for risk management functions.
  • Assign, coordinate, and supervise work done by subordinates, and reward, discipline, direct, or adjust grievances of other employees or effectively recommend their hiring, transfer, suspension, layoff, recall, promotion, or discharge.
Requirements

Graduation from an accredited four-year college or university majoring in finance, business administration, public administration, or a related field, and five years of progressively responsible experience in risk management. Additional risk management experience may be substituted for the required education on a year-for-year basis. Graduate study in pertinent fields may be substituted for the technical experience on a year-for-year basis.

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