Senior Risk Analyst

Department: Risk Management
Salary/Grade: EXS/9

The expected salary for this position is between $78,000-$85,000 per year, in alignment with departmental equity and market data.

Job Summary:

The Senior Risk Analyst works independently to help manage Northwestern's insurance and risk finance programs, including supporting annual reporting and auditing requirements for Northwestern's captive insurance program. The Senior Risk Analyst will support insurance claims and risk management activities of the University's various self-insured property and casualty insurance programs. The role will also be responsible for overseeing the administration of additional services offered by the department to members of the University community, including but not limited to special event management and certificates of insurance. The role will also handle primary day-to-day insurance needs and oversee the creation, production, and management of key metrics and tools used to assess risk appetite and measure insurance program performance. The incumbent should demonstrate close attention to detail, excellent customer service, and an aptitude for learning various software platforms and systems.

Specific Responsibilities:

Captive Administration:

• Supports and helps oversee the annual financial audit processes and actuarial assessments, providing relevant documentation to CPAs and auditors as requested.
• Manages required transactions and reconciliations to ensure management of captive finances in accordance with accounting standards.
• Assists with managing the captive annual calendar, working with outside vendors to handle the implementation and management of captive insurance program.

Risk Management:

• Participate in discussions regarding risk, safety, and educational programs for University students, faculty and staff.
• Advise campus partners on suitability of risk management strategies and opportunities for loss prevention.
• Support department communications to drive enterprise-wide risk awareness.
• Review contracts for proper risk transfer and insurance terms.
• Oversee and manage the Risk Management Safe Driver program.

Claims Management:

• Support department in claims management activities, including but not limited to maintaining RMIS system, incident investigations, litigation coordination, and insurer communications.
• Resolve recurring issues by identifying trends and process improvement opportunities.
• Establish and maintain effective working relationships with campus partners, vendors, and outside panel counsel.
• Supports resolution and close-out of property, casualty and executive liability claims.

Commercial Insurance Program Management:

• Assist with the insurance renewal process, including sourcing of information, completion of applications, and inventory listings.
• Assist campus partners in identifying and developing risk finance solutions as needed.
• Create key operational dashboards to assess metrics across all areas of risk in RMIS system.
• Review requests for and issue certificates of insurance in accordance with contractual terms and department SOPs. Review and maintain records for third party certificates of insurance received by department.

Miscellaneous

Performed other duties

Minimum Qualifications: (Education, experience, and any other certifications or clearances)

• Successful completion of a full 4-year course of study in an accredited college or university leading to a bachelor's or higher degree in a major such as insurance, business, or finance.
• 2-3 years of insurance, risk management, or finance experience.

Minimum Competencies: (Skills, knowledge, and abilities.)

• Strong communication skills
• Strong technical aptitude and understanding of insurance coverage.
• Ability to work with a diverse set of stakeholders and provide excellent customer service.
• Strong time management and project management skills
• Basic understanding of claims adjudication, actuarial modeling, and risk finance.
• Strong desire to learn and take on additional responsibility.

Preferred Qualifications: (Education and experience)

• Degree in Risk Management or Insurance.
• Commercial insurance underwriting or claims experience.
• CPCU, CRM, ARM or other professional designations.

Benefits:
At Northwestern, we are proud to provide meaningful, competitive, high-quality health care plans, retirement benefits, tuition discounts and more! Visit us at https://www.northwestern.edu/hr/benefits/index.html to learn more.

Work-Life and Wellness:
Northwestern offers comprehensive programs and services to help you and your family navigate life's challenges and opportunities, and adopt and maintain healthy lifestyles.
We support flexible work arrangements where possible and programs to help you locate and pay for quality, affordable childcare and senior/adult care. Visit us at https://www.northwestern.edu/hr/benefits/work-life/index.html to learn more.

Professional Growth & Development:
Northwestern supports employee career development in all circumstances whether your workspace is on campus or at home. If you're interested in developing your professional potential or continuing your formal education, we offer a variety of tools and resources. Visit us at https://www.northwestern.edu/hr/learning/index.html to learn more.

Northwestern University is an Equal Opportunity Employer and does not discriminate on the basis of protected characteristics, including disability and veteran status. View Northwestern's non-discrimination statement. Job applicants who wish to request an accommodation in the application or hiring process should contact the Office of Civil Rights and Title IX Compliance. View additional information on the accommodations process.

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