Risk Management Associate

Description

Position Summary

The Risk Management Associate is responsible for coordinating, developing, and managing budgets, accounting tasks and related financial activities for the corporate-wide insurance program, special insurance activities as well as financial analysis and projects for the risk management, workplace safety, and Fleet management.

Essential Duties and Functions

• Manage budgets and forecasts of program risk related expenses, and key performance indicators. Analyze trends, risks, and opportunities; help in creating efficient operational models and implementing solutions and opportunities for cost reduction and increased profitability.
• Manage day-to-day and monthly financial and operational activities to safeguard assets and assure accurate and timely recording of general ledger transactions. Implement internal controls to ensure compliance with internal and external regulatory requirements.
• Prepare financial analyses -- monthly and quarterly reports, including program and department budget review, GL Reconciliation, Wire Transfer/Bank Account Reconciliation.
• Prepare Reserve Analysis and Quarterly Update Insurance Programs.
• Process external vendor invoice payments, perform quarterly analysis review for proper coding and set up ACH and/or Wire Requests.
• Review allocations for lines of coverage in comparison to budget; note any discrepancies.
• Collaborate with Financial Managers, Directors, and program leadership on monthly billing of risk related costs and prepare journal entries as a result of any updates.
• Manage financial portion of insurance renewal process, internal insurance rate development, and annual audit, including Premium Audit.
• Research Cash Receipts, GL Transactions and Journal Entries and reclass if necessary.
• Manage the annual planning/budget process and quarterly updates for departments.
• Manage month-end and year-end closes including general ledger review and recording of necessary adjustments and expense accruals to assure accurate and complete reporting of financial results. Analyze and report on variances of actual results to budget and forecasts.
• Work with the accounting and financial management teams to assure that risk related expenses are allocated and reported correctly and timely. Participate in review and analysis of GL to assess financial risk.

Requirements

• Bachelor's degree in accounting or finance field.
• Minimum 3 years accounting, budget planning, and/or financial analysis preferred.
• Strong accounting skills
• Strong financial analytical skills
• Advanced Excel skills (charts, graphs, pivot tables, macros)
• Strong written and oral communications skills
• Experience working with various workgroups.
• Good Word skills
• Strong organization and follow-through skills
• Attention to detail.
• Good initiative
• Ability to multi-task and prioritize workload.
• Strong team player
• The ideal candidate must have knowledge of the insurance industry and its products, and general ledger experience, as well as advanced financial concepts