DIRECTOR/MANAGER, RISK & INSURANCE (DOE)

Job description:

*This position is open to varying levels of experience.

This position is responsible to design, establish, and manage the Risk Management (pure risk) program of Basin Electric Power Cooperative (BEPC), its subsidiaries and affiliates, and the Missouri Basin Power Project (MBPP), to protect the assets of BEPC, its subsidiaries and the MBPP and the margin and earnings of BEPC and its subsidiaries from losses; and assist in loss control and prevention activities. The incumbent is responsible for managing the corporate policy for insurance and risk retention programs and represent corporate interests and influence the direction of mutual insurers, commercial insurers and the risk management and insurance industry. The incumbent, on an as requested basis, performs consultation services for the Cooperative’s employee insurance programs. In addition, the incumbent coordinates workers compensation activities.

ESSENTIAL DUTIES

- Minimize the adverse impact of the pure risk exposures to BEPC, its subsidiaries and the MBPP. This is accomplished by identifying potential sources of pure risk determining how to best manage these risks. Participate in the elimination, loss prevention and reduction of risk of loss, planning, managing, and coordinating risk regarding the property, Director and Officer (D&O), and casualty insurance programs. Fund pure risk of loss through use of approaches involving transfer (insurance and contract indemnification), self-insurance (deductibles or retention), captive or pooling arrangements and reserving.

- Responsible for all property and casualty risk financing activity including risk analysis, selection of insurance brokers and vendors, forms of coverage, deductibles, limits of coverage, placement of coverages, renewal procedures, selection of insurers and sureties, specification preparation, surety bond procurement and issuance of certificates of insurance. Acquire and arrange insurance coverages only in areas where the pure risk cannot be managed by any other cost-effective means. Insurance coverages will be acquired utilizing the most cost-effective blend of insurance, deductibles, retention, limits, and coverage modifications. Manage the annual insurance renewal process, and design and negotiate contract terms with brokers and carriers, formulating limits, layers, terms and conditions of the insurance program. Receive and check all insurance policies for accuracy. Maintain insurance history files for policies, certificates, and invoices.

- Continually perform a review of world and domestic markets and industry developments to assure BEPC, its subsidiaries and the MBPP maintain a sound and cost-effective risk transfer program. Prepare loss and risk management cost reports for use by management and the Board of Directors.

- Manage the claims handling process, settlement strategy, investigative process, and reserve setting; manage the negotiations with insurance claims personnel; and manage the loss recovery process against third parties.  Standardize procedures for prompt reporting and notification of loss.

- Overtime, develop an Enterprise Risk Management process that integrates risk management practices into the company's day-to-day operations and decision-making.

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

- Responsible for monitoring and developing insurance legislation and policy for the benefit of Basin Electric and its subsidiaries.

- Manage vendor certificate of insurance program ensuring data is accurate and available for field use.

- Manage the workers compensation insurance and claims activities for the Cooperative.

- In due course, serve on industry committees and task forces and take a leadership role to influence the direction of mutual insurers, commercial insurers, and the risk management and insurance industry. Maintain expertise and close relationships with utility-owned mutual insurers and commercial insurers.

- Develop and negotiate insurance and indemnification terms in contracts, service agreements, and purchasing agreements

- As requested, consult with and assist the Human Resources division in the purchasing of employee benefits insurance to obtain competitive bids by working with independent companies, consultants, and brokers.

- Perform other duties as assigned.

MINIMUM QUALIFICATIONS

- A bachelor’s degree in risk management and insurance or a business-related field, and 10 years of related experience in risk management and insurance with knowledge of risk management principles and insurance markets.

- Occasional travel.

- A valid Driver’s license.

PREFERRED QUALIFICATIONS

- Chartered Property Casualty Underwriter or Associate in Risk Management professional designation.

PHYSICAL AND ENVIRONMENTAL DEMANDS

This position requires frequent sitting and standing/walking; and occasional reaching below and above shoulder level, use of keyboard/computer, bending, kneeling, lifting/carrying up to 10 pounds, and pushing/pulling up to 20 pounds. It also requires finger dexterity and hand coordination. This position requires good hearing and vision, and the ability to speak.

KEY SKILLS

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

- Proficient with personal computers and Microsoft Word, Outlook, and Excel.

- Excellent written and verbal communication skills.

- Ability to develop plans, procedures and goals; present information to others; and work under stress to complete projects within deadlines.