Insurance and Credit Risk Manager

Responsible for overseeing the organization's insurance and credit risk management functions, including insurance procurement, credit risk analysis, claims and litigation management, loss control, and contract evaluation. This role ensures compliance with industry regulations and internal policies while supporting strategic financial objectives.

Tri-State recognizes the value of a highly-engaged and committed workforce and provides an excellent benefits program that includes: Medical Insurance, Dental Insurance, Vision Insurance, Health Savings Account (HSA), Flexible Spending Accounts (FSA), Tuition Reimbursement, Flexible Work Schedules including compressed work week and telecommuting opportunities to work remotely up to 40%, Life Insurance, 401K, Long Term Disability (LTD), Short Term Disability (STD), Employee Assistant Program (EAP) and Paid Leave Benefits.

Insurance and Credit Risk Manager 

Hiring Salary Range: $122,000-$156,000

Actual compensation offer to candidate may vary outside of the posted hiring salary range based upon work experience, education, and/or skill level.

Education and Training:

• Bachelor’s degree in Finance, Accounting, Economics or directly related discipline.

Knowledge, Skills, and Ability:

• Extensive knowledge of insurance and counterparty risk management principles, practices and methodologies.

• Working knowledge of applicable laws and regulations affecting insurance and credit risk management.

• Experience in financial review, risk assessment, and/or counterparty credit monitoring.

• Experience with developing related reports and analytical methods to assess counterparty credit risks.

• Knowledge of financial/business analysis techniques.

• Ability to communicate effectively, verbal and written, internally and externally.

• Excellent interpersonal skills, ability to work with a wide variety of people and lead a team.

• Creative thinking and problem identification and solving skills is a must.

• Recognized as expert in the field, solid understanding of contracts and indemnities.

Experience

• Ten (10) years of progressive professional experience involving insurance, preferably in the electric utility business.

• Experience with insurance procurement, claims and litigation management.

• Experience with loss control, contract evaluation, broker selection, loss forecasting and budget development.

• Experience with self-insurance, underwriting and submissions and property risk control.

• Willingness to travel as required.

DESIRED JOB QUALIFICATIONS

Following certifications are preferred:

• Certified Risk Manager (CRM)
• Associate in Risk Management (ARM)
• Certification in Risk Management Insurance (RMI)

• Establishes, manages and implements the insurance and counterparty credit risk management policies, programs and procedures. Monitors and evaluates program effectiveness and effects changes required for improvement. 

• Oversee the protection of corporate assets by determining appropriate insurance coverage, prepare and places requests for quotations, negotiating favorable terms, procures insurance policies, including annual renewals. Orders insurance policy changes as required providing adequate and necessary coverage for new locations and exposures.

• Provides excellent customer service and ensures excellent delivery of all insurance services to the corporation by coordinating all activity, working cooperatively with brokers and carriers.  Leads any necessary requests for proposals for services.

• Collaborate with management for creative, logical and appropriate solutions to minimize risk to the corporation; and advise senior level management on appropriate counterparty and insurance risk management issues.

• Oversees the investigation and settlement of all insurance claims against the corporation; manages data to appropriately track and report claims to insurance carriers; manages certificates of insurance, and other forms of proof, process including timely processing to others, and validation of those provided to the corporation.

• Manages loss control efforts for Tri-State, coordinating visits and reviewing and clears recommendations.

• Interprets, creates and alters contract language regarding insurance and credit requirements, indemnity provisions, waivers of subrogation, etc., associated with all vendor and counterparty contracts in conjunction with the legal department and communicates on a regular basis with Legal staff for both contract reviews and any claims assistance that might be required. 

• Oversee counterparty credit limit setting and monitoring, as well as periodic counterparty evaluations.  Ensuring robust credit risk modeling, forecasting, and reporting systems are in place.

• Coordinate all in and out bound collateral; ensure appropriate monitoring of collateral to ensure renewals are accomplished timely to protect Tri-State interests.

• Manage corporate surety bond program, ensuring capacity is sufficient and program is competitively priced, assist in bond issuance and rebilling, manage renewals and extensions as needed, and provide sureties updates on Tri-State.

• Coordinates with the Safety and Environmental groups as needed in accident analysis, disaster planning and risk assessment.

• Develops and manages annual budgets for the risk programs and performs periodic cost analysis.

• Reviews the functions and activities of insurance and counterparty credit risk in an effort to contribute to the corporation’s growth and financial stability and keeps abreast of legislative agendas at state and federal levels.

• Lead, mentor, and evaluate direct reports to foster a high-performance culture. 

• Because Tri-State is an electric utility with continuous service obligations to its customers, regular, reliable, and predictable performance and availability for emergencies after hours are essential functions and responsibilities of the job.

OTHER DUTIES/RESPONSIBILITIES

• Perform other related duties as assigned

SUCCESS FACTORS/JOB COMPETENCIES:

• Management/Supervision: Ability to organize and manage multiple priorities and assigned staff.

• Time management: Ability to manage time effectively and to manage multiple routine detail matters while also attending to strategic/complex matters.

• Problem analysis and problem resolution at both strategic and functional levels.

• Commitment to company values.

• Excellent interpersonal and communication skills.

• Strong team player.

• Advanced computer proficiency in Excel and Word, comfortable with new technologies with proven track.

Hiring Salary Range: $122,000-$156,000