Position- 3312: Risk Management Associate

 

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Position- Risk Management Associate
Job Id (Use when Referring to Position):	3312
Job Type:	FTP
Location:	New Britain CT
Experience:	5 - 0
Compensation:	$143,000.00 - $175,000.00
Job Description:	Risk Management Associate Primary Purpose of Job: Develop and monitor risk management programs by identifying exposure and analytically evaluate exposure to determine and manage expected loss. Assist in the creation of our global risk management strategy including placement of insurance, negotiation and interpretation of insurance policies, self insurance analysis, claim management, actuarial reserve analysis and accounting impact, captive management, broker relations, managing day to day issues and inquiries relating to risk management and insurance programs world wide. Primary Responsibilities: 1. Manage the renewal and placement of the property insurance program; including the evaluation of exposure, negotiation with broker and insurer, preparation of specialized underwriting information where required, loss modeling, and maintenance of property values and business interruption values. 2. Manage the allocation of property premium across Stanley businesses and the related accounting impact. 3. Assist Risk Manager with property claims management, including coverage applicability, notification to insurer, loss site visits, and any other activities that facilitates payment of claim. 4. Assist Risk Manager with property loss control program, including an internal evaluation of property conservation and business continuity as well as an evaluation of the insurer's property conservation recommendations. Work with Company management on the implementation of property loss control initiatives 5. Manage the renewal and placement of insurance for our independent tool distributors; including negotiation with broker and insurer, captive analysis, and communication to distributor group. 6. As necessary assist in the management of claims filed as part of the independent distributor insurance program. 7. Manage the renewal and placement of insurance for the Company's race car sponsorship program. 8. Provide quantitative and analytical support to model risk management programs across all lines of risk, and to establish appropriate accounting reserves for those programs whereby the Company has retained a certain level of risk. 9. Manage the Company's wholly owned captive including, analysis of premium collected and losses paid, reserve analysis, investment analysis, financial statement preparation and review, Corporate accounting impact, tax benefit, and new strategies to expand the use of the Captive. 10. Prepare a quarterly cost of risk analysis and present to Company management. Relationships: Risk Manager: While this position will own the management of certain insurance programs, this position will need to seek counsel and advice from the Risk Manager as we continue to enhance and implement world wide risk management strategies. A sound partnership between the Risk Management Associate and Risk Manager will be critical to the development, implementation, and maintenance of appropriate risk mitigation, risk transfer, and funding plans that will avoid loss or respond to loss in a manner that protects the Company. Assistant General Counsel / Claims Manager: As necessary assist counsel and the claims management team to effectively settle claims. Corporate Accounting: Work to ensure the accuracy of general ledger risk reserves across all lines of risk retained. Insurance Brokers: Work effectively with insurance brokers to establish renewal strategy, place insurance, secure policies, and manage loss prevention and claims. Required Skills: Education: B.S. in Finance or Risk Finance (MBA with a concentration in Finance a positive) Minimum Experience: 4 Years General: Must have strong analytical, interpersonal and communication skills, highly motivated, and capable of frequent multi-
Degree Required:
Desired Skills:
Additional Information:
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