Western & Southern Financial Group

Risk Specialist

Job Locations US-OH-CINCINNATI
ID
2020-13781
Category
Finance & Accounting
Type
Full Time

Overview

Summary of Responsibilities:

Performs risk exposure analysis for all insurance exposures. Prepares insurance applications, renewal presentations, budget and all Treasury budget variance analysis. Reviews insurance renewal quotes, leases, contracts, mortgage loans and joint venture equity real estate projects. Also involved with safety initiatives, claims and business continuity. Works collaboratively with the Treasury team, updates manager on a regular basis and identifies issues for escalation to manager. Risk Specialist will also serve as a back-up to the Risk Management & Claims Analyst and be available to Cash Management as a wire approver.

Responsibilities

Summary of Responsibilities:

Performs risk exposure analysis for all insurance exposures. Prepares insurance applications, renewal presentations, budget and all Treasury budget variance analysis. Reviews insurance renewal quotes, leases, contracts, mortgage loans and joint venture equity real estate projects. Also involved with safety initiatives, claims and business continuity. Works collaboratively with the Treasury team, updates manager on a regular basis and identifies issues for escalation to manager. Risk Specialist will also serve as a back-up to the Risk Management & Claims Analyst and be available to Cash Management as a wire approver.


Position Responsibilities:

  • Performs financial analysis of risk exposures, such as Property insurance, Workers’ Compensation and Fidelity Bonds.
  • Prepares renewal applications including Property insurance, Fidelity Bonds, Fiduciary Liability by collecting responses from various business units and reviewing for appropriateness and completeness.
  • Prepares annual insurance premium budget by analyzing current insurance market trends including discussions with insurance brokers.  
  • Analyzes insurance renewal quotes, identifies any changes from expiring policies and obtains explanations of changes from insurance brokers or underwriters.
  • Assists the AVP with reviewing leases and other contracts as requested by the Law Department for appropriateness of insurance coverage, indemnification and waiver of subrogation provisions.         Working in conjunction with AVP, provides recommendation to Law Department for any necessary changes.        
  • Prepares insurance renewal presentations for General Insurance Committee.
  • Analyzes all quarterly budget variances for Treasury Department and prepares variance explanations for distribution to the Accounting Department.
  • Reviews required insurance coverage for all new mortgage loans issued by the enterprise. Includes identification of any non-conforming insurance terms and then working with Eagle Realty Group to obtain any necessary changes in the borrower’s insurance coverage to meet our requirements. Insurance Closing Checklist is prepared and submitted to Eagle Realty Group and Mortgage Loan Servicing as final signoff on insurance coverage prior to the loan closing and funding.
  • Reviews required insurance coverage for all new joint venture equity real estate projects. Includes identification of any non-conforming insurance terms and then working with Eagle Realty Group to obtain any necessary changes in our development partner’s insurance coverage to meet our requirements. Insurance Closing Checklist is prepared and submitted to Eagle Realty Group as final signoff on insurance coverage prior to the equity project closing and funding.
  • Reviews required insurance coverage for all mortgage loan insurance renewals and all joint venture equity real estate project insurance renewals to ensure that all of our requirements are met.         All identified non-conforming insurance terms are provided to Mortgage Loan Servicing or the Risk Management & Claims Analyst for resolution. After all requirements are met, then Insurance Closing Checklist is prepared and submitted to Mortgage Loan Servicing or the Risk Management & Claims Analyst as final signoff on the insurance renewals.  
  • Attends meetings of the Environmental, Health & Safety Committee, as well as addressing any Risk Management concerns or preparing any Risk Management material for the Committee.
  • Primary contact with our Property insurer for scheduling required safety inspections at company facilities, addressing any insurer recommendations and preparing formal responses to the recommendations.         Inspections and recommendation responses are coordinated with Eagle Realty Group or other applicable business units.
  • Provides assistance on certain insurance claims, such as Property insurance, Fidelity Bonds and Errors & Omissions. Support will include assistance with required Proof of Loss filings and discussion with insurance adjusters.
  • Prepares and distributes Daily Treasury Group Market Report summarizing stock index and treasury rate activity for CEO, Treasurer and other members of senior management.
  • Serves as Business Continuity Ambassador for Risk Management including as point person for annual Business Continuity Plan updates.
  • Attends meetings with insurance brokers and underwriters.
  • Additional resource to Cash Management as a wire approver.
  • Performs other duties as assigned by management.

Qualifications

Selection Criteria:

  • Work experience or academic study in accounting or finance.
  • Demonstrated proficiency in analyzing financial statements and understanding of accounting.
  • Proven strong mathematical and communication skills.
  • Accounting experience is preferred.
  • Demonstrated commitment to quality, emphasizing the need to deliver quality products and/or services.
  • Proven excellent verbal and written communication.

Work Setting:

  • Works in an office setting and remains in a continuous stationary position for long periods of time while working at a desk, on a computer or with other standard office equipment, or while in meetings.
  • Performs substantial movement of wrists, hands and fingers for continuous computer work.

Educational Requirements:

  • Bacheolor’s degree in Accounting and/or Finance.

Computer Skills and Knowledge of Hardware & Software Required:

  • Proficient in the use of spreadsheet software, presentation tools and word processing software.
  • Working knowledge of database applications.
  • Experience using Excel for financial analysis.

Certifications & Licenses (i.e., Series 6 & 63, CPA, etc.):

  • None required.

Position Demands:

  • Extended hours required during peak workloads or special projects.
  • Travel to meetings, seminars and conferences.

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