Location: Bellevue, WA, US, 98004
Remote and Hybrid Work Opportunities: Hybrid (WA Based)
Puget Sound Energy is looking to grow our community with top talented individuals like you! With our rapidly growing, award winning energy efficiency programs, our pathway to an exciting and innovative future is now.
PSE's Legal team is looking for qualified candidates to fill an open Insurance Risk Program Manager position!
Specific details regarding the work arrangements for this position will be discussed in further detail during the interview process.
Job Description
Contributes to the company's success by managing the portfolio of risk financing, transfer, and retention to achieve optimal financial protection for the organization. Risk management functions include evaluation of insurable and retained risk and the available insurance products; presentation of risk management initiatives and processes to insurance underwriters to achieve most favorable property, casualty and professional insurance placements; consultation and review of contractual commitments to ensure compliance with insurance and bonding requirements; and cost-recovery for insured losses from insurance carriers.
Responsible for delivery of complete and accurate insurance application and renewal documentation; management communication and visibility into changing policy terms and market conditions; department and corporate insurance budget and forecasts; and review and collaboration with multiple business units on third-party contractual insurance and indemnity terms.
Upholds the safety compliance standards inherent in PSE's operating and/or field procedures related to work responsibilities. Promotes and supports a culture of total safety.
Demonstrates commitment to conduct business honestly, ethically and consistent with our core values and Code of Conduct. Ensures duties are performed in accordance with all regulatory compliance obligations.
Job Responsibilities
- Evaluates insurance market trends, risk transfer options, insurance term changes, coverage availability, and costs and makes informed and strategic recommendations to management on insurance placements.
- Works with brokerage team and directly with property, casualty, professional lines, and special risk underwriters to understand and accurately evaluate the company's risk profile and to price insurance products accordingly.
- Coordinates with contracting staff, project teams and business units to evaluate third-party vendor risks and designs contract insurance terms to appropriately manage identified risks.
- Provides accurate and timely reports to interested stakeholders including internal/external auditors, board, rates and regulatory staff, finance, treasury and internal/external legal team on the company's insurance and self-insurance programs, structure, coverage and costs.
- Participates in the review and drafting of favorable insurance, bonding, and indemnity terms of the company's franchise, real estate and lease agreements.
- Reviews and evaluates surety bonding requirements imposed upon the company and works with surety brokerage staff to administer such bonds.
- Tracks insurance risk department and corporate insurance budgets and costs and provides accurate forecasting and variance reporting on a monthly basis.
- Maintains insurance broker contract and relationship, ensures services are completed as outlined in service agreement, communication is accurate and timely, and fees and commissions are appropriate.
- Monitors losses and claims events for exceedance of company's self-insured retentions, then facilitates insurance recovery when warranted.
- Provides documentation of the company's self-insured status and/or certificates of insurance to requesting third-parties.
- Coordinates property loss control inspections, liability risk assessments, construction design reviews and other insurer loss control requests, then works with internal stakeholders to review, provide response, and implement recommendations as appropriate.
- Participates in insurance industry and utility risk management associations, committees and working groups in order to remain informed of trends, peer benchmarks, and industry developments as they relate to utility insurance practices.
- Monitors company initiatives, capital projects, and new ventures to proactively identify construction, evolving or other special risk (marine, environmental, aviation, cyber, etc.) and recommends and facilitates appropriate insurance strategies.
- Performs other duties as assigned.
Minimum Qualifications
- Bachelor's degree in business, finance, accounting or related field, or equivalent combination of education and experience.
- 7 years of experience in insurance, risk management, claims adjusting, utility operation and/or budgeting.
- Excellent communication skills (verbal and written).
- Ability to communicate effectively with all levels within an organization.
- Highly organized.
- Strong skills in Microsoft Office Suite.
Desired Qualifications
- Professional designations Chartered Property and Casualty Underwriter (CPCU) and/or Associate in Risk Management (ARM).
- Experience in risk management activities of an energy company.
- Demonstrated understanding of utility regulations, accounting practices and utility industry practices.
Puget Sound Energy
10885 NE 4th St
Bellevue
Washington United States
www.pse.com
