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Basin Electric Power Cooperative · 1 hour ago

DIRECTOR/MANAGER, RISK & INSURANCE (DOE)

Bismarck, ND

Full-time

Onsite

Director/Executive

10+ years exp

Basin Electric Power Cooperative is seeking a Director/Manager of Risk & Insurance to oversee the Risk Management program for the organization and its affiliates. The role involves managing insurance and risk retention programs, conducting risk analysis, and coordinating workers compensation activities to protect the assets and earnings of the cooperative.

Electrical DistributionEnergyLogisticsOil and GasRenewable EnergyTransportationWind Energy

Responsibilities

Minimize the adverse impact of the pure risk exposures to BEPC, its subsidiaries and the MBPP. This is accomplished by identifying potential sources of pure risk determining how to best manage these risks. Participate in the elimination, loss prevention and reduction of risk of loss, planning, managing, and coordinating risk regarding the property, Director and Officer (D&O), and casualty insurance programs. Fund pure risk of loss through use of approaches involving transfer (insurance and contract indemnification), self-insurance (deductibles or retention), captive or pooling arrangements and reserving

Responsible for all property and casualty risk financing activity including risk analysis, selection of insurance brokers and vendors, forms of coverage, deductibles, limits of coverage, placement of coverages, renewal procedures, selection of insurers and sureties, specification preparation, surety bond procurement and issuance of certificates of insurance. Acquire and arrange insurance coverages only in areas where the pure risk cannot be managed by any other cost-effective means. Insurance coverages will be acquired utilizing the most cost-effective blend of insurance, deductibles, retention, limits, and coverage modifications. Manage the annual insurance renewal process, and design and negotiate contract terms with brokers and carriers, formulating limits, layers, terms and conditions of the insurance program. Receive and check all insurance policies for accuracy. Maintain insurance history files for policies, certificates, and invoices

Continually perform a review of world and domestic markets and industry developments to assure BEPC, its subsidiaries and the MBPP maintain a sound and cost-effective risk transfer program. Prepare loss and risk management cost reports for use by management and the Board of Directors

Manage the claims handling process, settlement strategy, investigative process, and reserve setting; manage the negotiations with insurance claims personnel; and manage the loss recovery process against third parties. Standardize procedures for prompt reporting and notification of loss

Overtime, develop an Enterprise Risk Management process that integrates risk management practices into the company's day-to-day operations and decision-making

Coordinate loss control inspection visits and respond to loss prevention reports from insurance companies

Responsible for monitoring and developing insurance legislation and policy for the benefit of Basin Electric and its subsidiaries

Manage vendor certificate of insurance program ensuring data is accurate and available for field use

Manage the workers compensation insurance and claims activities for the Cooperative

In due course, serve on industry committees and task forces and take a leadership role to influence the direction of mutual insurers, commercial insurers, and the risk management and insurance industry. Maintain expertise and close relationships with utility-owned mutual insurers and commercial insurers

Develop and negotiate insurance and indemnification terms in contracts, service agreements, and purchasing agreements

As requested, consult with and assist the Human Resources division in the purchasing of employee benefits insurance to obtain competitive bids by working with independent companies, consultants, and brokers

Perform other duties as assigned

Qualification

Risk managementPropertyCasualty insuranceClaims adjustmentRisk analysisChartered Property Casualty UnderwriterAssociate in Risk ManagementMicrosoft WordMicrosoft OutlookMicrosoft ExcelPlanningProceduresWritten communicationVerbal communication