Corporate Insurance Manager

Scope of the Role

The Corporate Insurance Manager (CIM) is responsible for overseeing Golden Spread Electric Cooperative’s (GSEC’s) comprehensive insurance program, encompassing property and casualty, general liability, workers’ compensation, directors and officers liability, crime, and other coverage lines essential to the Cooperative’s risk management framework. In the context of property coverage, it is important to note that the insured generating assets carry an approximate value of $1.6 billion, underscoring the magnitude of the exposure and the strategic importance of this function.

This role is integral to the Enterprise Risk Management (ERM) process, ensuring that insurable risks are systematically identified, assessed, and aligned with organizational risk appetite. The CIM serves as a conduit between the insurance function and executive leadership, communicating relevant risk exposures to the Executive Team (ET) and recommending mitigation strategies to the Internal Risk Management and Compliance Committee (IRMC).

The CIM is responsible for building trusted and credible relationships with Member Distribution Cooperatives and insurance partners. This position will also represent GSEC’s interests and brand at external organizations and forums.

Essential Job Functions

- Provide leadership and recommendations regarding area of accountability issues and needs, prioritization of organizational resources, rates, issues, and interactions.

- Provide support and expertise in all new technologies and external environmental advances in the insurance program.

- Oversee and evaluate corporate insurance programs, including liability, property, workers’ compensation, and professional liability, including the formulation of limits, layers, terms, and conditions of the insurance programs.

- Lead negotiations with insurance carriers to secure competitive rates, terms, and coverage; manage the annual renewal process and any policy amendments, including compiling and analyzing underwriting data. This includes being comfortable collaborating with global insurers, which may involve some international travel.

- As a subject matter expert, the position works with GSEC Legal and other departments to ensure risks are identified and mitigated during the contract process

- Direct the claims process, from incident reporting to resolutions, working closely with internal teams and external insurers to ensure timely settlements.

- Ensure all insurance policies comply with regulatory requirements, and prepare detailed reports on insurance performance, costs, and risk exposure for senior management.

- Coordinate loss prevention inspection visits and response to loss prevention reports from insurance companies.

- Work directly with Special Facility Agreement (“SFA”) Members to ensure SFA assets have the appropriate level of insurance coverage and be the interface between the SFA Member and the insurance company and its adjusters when a loss occurs.

- Lead the insurance function internally, including training, presentations, internal audit, comparative analysis, renewals, and assessment of company needs.

- Accountable for compliance with the Golden Spread Safety Policy, including all Safety Procedures and third-party and Member contractual obligations.

- Other duties as assigned.

Complexity of Problems

- Requires independent use of sound judgement with discretion to high-risk appetite and impact.

- It is imperative this position maintains the utmost personal and professional integrity, attention to detail and accuracy, and confidentiality.

- Judgement and decision-making for this position are impactful to the entirety of the organization and Member distribution cooperatives with a potential for substantial financial impact.

Internal and External Contacts

Internal Contacts:

Employees at all levels within the organization, Executive Team, Internal Risk Management Compliance Committee (IRMC).

External Contacts:

Member Cooperatives, consultants, vendors, legal support, insurance representatives.

Education, Knowledge, and Experience Required

- Bachelor's degree in risk management, finance, or business; equivalent work experience may substitute.

- Master’s degree or professional certification preferred.

- 5-7 years’ of experience in finance, risk management, insurance, and/or plant operations required.

- Knowledge of property and casualty insurance, claims adjustment, and risk analysis required.

- Knowledge of power generation, transmission, and distribution facilities preferred.

- Thorough understanding of utility industry hazards and insurance programs preferred.

- Ability to analyze data and reports, conduct research, implement recommendations, develop plans, procedures, and goals; present information to executive leadership.

- Willingness to own areas of responsibility, forge strong internal and external professional relationships, and contribute within a team environment.

- Ability to coordinate with cross-department teams and the interpersonal skills to effectively coordinate and review insurance reports and policies done by internal personnel and outside consultants/brokers.

- Responsible for attending meetings, workshops, conferences, webinars, and conference calls on insurance, risk management, and/or crisis management.

- Ability to quickly assess the impact of new relevant industry, legal and regulatory information, and apply knowledge to specific issues or situations that are relevant to GSEC.

- General knowledge of industry regulatory rules and regulations (FERC, NERC, CFTC, RTO/ISO), state regulatory requirements, and administrative procedures of the associated regulatory bodies is preferred.

- Must maintain confidentiality with the use of sound judgement related to sensitive matters.

- Maintain composure, use sound judgment, and meet deadlines while working in a dynamic environment with frequently changing circumstances.

- Must work well within a self-directed, team-based environment.

Work location and conditions – Office, Amarillo, TX

Competencies

- Collaboration – Core Competency

- Ethics & Integrity – Core Competency

- Deliver Results – Core Competency

- Communication

- Development and Continual Learning

- Problem Solving

FLSA Status

Exempt, Overtime may be required.