Job Description

Basic Purpose

Oversees daily operations of NVE Insurance (Captive). Manages projects and initiatives with major risks. Identifies and assesses areas of potential risk to the assets, earning capacity, or success of organizations. Develops, recommends and implements risk-assessment models and methodologies. Evaluates the implementation of risk reduction strategies. Develops models and analysis of the cost and benefits associated with risk transfer and reduction methods and products. Plans, develops, and assists in the negotiations of property and casualty insurance coverage placements.

Responsibilities

Essential Duties and Responsibilities

Performs underwriting loss analysis for all property and casualty insurance renewals. Assists in negotiations to ensure cost effective placement and renewal of insurance coverage.

Performs research and prepares correspondence for review and approval of insurance language and indemnification provisions in contracts, leases and agreements. Makes sound risk evaluations and decisions on a case by case manner. Ensures outside entities performing work for the company are in compliance with insurance requirements.

Manages NVE Insurance Co. (Captive) operating and compliance activities. Provides analysis for underwriting, claims, budgeting and investment decision making. Facilitates annual board of directors/shareholders meetings and completes annual license renewals. Ensures internal and regulatory compliance. Administers claims reconciliations and disbursement process. Conducts feasibility studies to strategically optimize captive. Represents Risk Management in claims meetings to ensure optimization and to provide Risk oversight.

Provides training and direction on engineering efforts with property insurers and internal generating plant property engineers. Reports monthly developments to Generation executive leadership and develops plans and strategies for achieving lower operational risk.

Researches current market risk initiatives. Stays well versed in insurance industry standards, policies, changes and news.

Makes determinations on the need for various instruments (bonding, letter of credit) to satisfy indemnification requirements for contracts. Creates and executes indemnification instruments and manages renewal process where required.

Serves as a liaison to external contacts including brokers, underwriters, regulators and external legal counsel.

Responds timely and accurately to internal and external data requests and inquiries regarding insurance programs and premium allocations.

Monitors the receipt of insurance binders, policies and endorsements. Manages the safekeeping of original insurance policies.

Conducts ad-hoc risk studies and quantitative analysis as required. Develops reports summarizing analytical results and recommendations and documenting decisions appropriately.

Leads major risk projects and initiatives. Oversees project plans and timelines; external consultants production and productivity; and process improvement implementations.

Leads renewal of workers compensation insurance. Provides oversight for workers compensation program, ensures compliance with all regulations.

Communicates management recommendations in support of corporate mission and goals.

Ensures all compliance aspects of position are known and followed; understands and complies with all policies, codes and regulations applicable to position and company.

Performs related duties as assigned.

Qualifications

Essential Education, Skills, and Environment
Education and Work Experience
Bachelor's Degree in the area of specialty from an accredited school and 5 years of related experience.

Candidates that do not possess a bachelor's degree must have a minimum of 9 years of related work experience.

Specialized Knowledge and Skills
Demonstrated knowledge of:

• Overall business, the sources of risk, and potential options for mitigation.

Skills such as:

• Analytical and quantitative analysis, written, communication and organizational.
• Internal and external relationship.

Equipment and Applications
PCs, word processing, spreadsheet and database software.

Work Environment and Physical Demands
General office environment. No special physical demands required.

Note: Immigration Sponsorship
At this time, we're not considering applicants that need any type of immigration sponsorship (additional work authorization or permanent work authorization) now or in the future to work in the United States. This includes, but is NOT LIMITED TO: F1-OPT, F1-CPT, H-1B, TN, L-1, J-1, etc. For more information regarding work visas, please visit www.uscis.gov.