Risk Analyst III at ONEOK

Tulsa, Oklahoma, United States

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Energy, Midstream Oil & GasIndustries

Requirements

Bachelor's Degree in business, finance, or other related field, or equivalent combination of formal education and job-related experience
Minimum 10 years insurance industry related experience
5+ years experience handling or managing litigated and non-litigated claims
Experience in a risk and insurance department, insurance brokerage firm, or as an underwriter
Experience in reading and interpreting insurance policies and contracts

Responsibilities

Manage moderately complex and complex claims including first- and third-party claims, insured litigated matters, environmental claims, and large ONEOK property subrogation claims, including investigation, evaluation, negotiation, and settlement while working with insurance adjusters, internal/external counsel, ONEOK customers, and employees
Coordinate management of litigated claims with the legal department and assist internal/external counsel with case preparation
Attend claim mediations when necessary
Review and approve third-party administrator claim handling fees
Perform senior-level functions for the corporate risk and insurance program, including negotiations of insurance coverage
Develop processes, analyze, and make recommendations on identification, measurement, and analysis of exposures to financial loss; methods of funding risks; insurable values; evaluation of insurance agents/brokers; optimal loss-retention levels; and risk acceptance, avoidance, or transfer
Communicate with claim groups/legal to ensure proper information and documentation for settlement of claims involving property and casualty insurance
Direct and prepare information/instructions related to risk activities for insurance manager, broker, and legal department
Provide support to Manager in calculating, compiling, preparing, analyzing, and recommending on risk/insurance statistics, budgets, trends analysis/survey data
Recommend and develop risk management policies and procedures to reduce risk via acceptance or transference
Analyze requested exceptions to establish limits/coverage parameters for Certificates of Insurance issued to customers or received from contractors/vendors
Review policy language to confirm negotiated coverage, timely issuance, and appropriateness to company exposures; negotiate new/renewal terms with brokers/underwriters
Provide support in analysis of risk management programs (ERM) and other duties
Assume responsibility for oversight, training, and mentoring of Risk Analyst I and II
Prepare presentations for all levels of management, including senior management
Research feasible studies relating to captives and other alternative methods of risk transference as directed by Manager