Risk Management Analyst
Reporting to the Supervisor, Insurance & Risk Management, the Risk Management Analyst will be responsible for providing research and analysis on various risk and claims management topics, gathering data for insurance renewal and other projects, insurance certificate issuance and compliance, production of risk management information system reports, insurance and risk management presentations and claims administration.
- Supports the City's annual insurance policy program renewal by gathering and submitting underwriting information to the City's insurance broker including producing reports from the risk management information system to support underwriting and actuarial assessment needs.
- Assesses exposure to losses and provides comments on agreements and indemnifications; develops insurance wording and insurance provision requirements and other insurance related products/retention levels contained in agreements, requests for proposals and leases.
- Reports on the exposure to claims arising from the scope and nature of the contracts and comments on methods to reduce exposures using risk transfer and loss control techniques. Prepares insurance specifications.
- Reviews and investigates problems associated with insurance certificates, contractual insurance requirements, coverage wording issues etc. Responsible for the Insurance Inquiry email box, spreadsheets and preparing the relevant Key Performance Indicators (KPIs).
- Assists with the insurance cost allocation algorithm and internal deductible preparation to reflect Agencies, Boards and Corporations (ABCs) and Divisions' true cost of risk and analyzes insurance claims statistics for City ABCs and Programs. Provides guidance, recommendations and trend analysis to change behaviors to reduce future insurance losses.
- Conducts analysis, coordinates regular reconciliation and reports on status and recommends appropriate contribution levels to the Insurance Reserve Fund, and tracks the accounting entries in the City's Financial Information System (SAP). Reports on financial impact of all expenditures and claim reserve adjustments.
- Assists with monthly reconciliation of Insurance Reserve Fund using corporate accounting system SAP, investigates and analyzes associated accounting problems and composes detailed reports.
- Assists with expenditure audits for insurance and claim payments, adjusting fees and legal fees.
- Provides assistance to the Third Party Adjuster to coordinate claims handling/investigations with City Divisions.
- Coordinates corporate property loss control engineering services to inspect high value, critical function sites and coordinates recommendations and compliance with the City Program and the engineering service provider.
- Monitors and controls workflow to ensure adherence to relevant policies, procedures, and practices. Investigates problems and procedural inefficiencies. Develops solutions and recommends modifications/standardization as required.
- Answers enquiries and complaints. Arranges departmental and interdepartmental meetings to provide/exchange information. Prepares meeting agendas/minutes, manuals, reports, and presentation materials including the development of charts and graphs.
- Liaises with and exchanges information with all levels of staff, Councillors, the public including contractors, service providers or private companies.
Your application must describe your qualifications as they relate to:
- Possession of or working towards the Charter Insurance Professional (CIP) Designation or the equivalent combination of education (e.g. business, public administration or other discipline pertinent to the job function) and/or experience.
- Experience with Insurance and Risk management functions within a public or private sector organization.
- Experience producing reports and analyzing data.
You must also have:
- Knowledge of insurance principles and practices, claims administration and claims handling practices.
- Strong analytical, problem solving and conflict resolution skills.
- Strong customer service and interpersonal skills and ability to work cooperatively as part of a team.
- Ability to establish effective working relationships with employees, client departments, outside agencies and/or politicians and other levels of government.
- Ability to conduct detailed or non-structured research and analysis to complete projects of various terms and complexities.
- Highly developed report writing and presentation skills and ability to communicate effectively both verbally and in writing at all organizational levels.
- Strong organizational and multi-tasking skills and the ability to meet deadlines and assess priorities.
- Ability to exercise independent judgement and discretion in dealing with confidential operational matters.
- Proficient in the use of Microsoft Office Applications (Word, Excel, PowerPoint) and ability to utilize systems relevant to supporting the Divisions' core requirements, such as the Risk Management Information System (RMIS).
Please note that all applicants are encouraged to provide a valid email address for communication purposes. Applicants may receive written correspondence regarding this job posting directly to the email address provided on their resume or to the one used to set-up their Candidate Profile if applying on TalentFlow. As an applicant, it is your responsibility to ensure that you check your email regularly.
The City of Toronto is committed to fostering a positive and progressive workforce that is representative of the citizens we serve. We will provide equitable treatment and accommodation to ensure barrier-free employment. In accordance with the Ontario Human Rights Code, Accessibility for Ontarians with Disabilities Act and the City of Toronto's Accommodation Policy, a request for accommodation will be accepted as part of the City's hiring process.
If you are invited to participate in an assessment process, kindly provide your accommodation needs in advance. Please be advised that you may be requested to provide medical/other documentation to Human Resources to ensure that appropriate accommodation is provided to you throughout the hiring process.
If you are an individual with a disability and you need assistance or an accommodation during the application process, please email us at firstname.lastname@example.org, quoting the job ID # and the job classification title.