
Risk Management Expert
6 days ago
The position of Insurance Risk Manager involves overseeing the effective management of insurance risk in Europe and its cluster countries. This includes responsibility for all local Product Groups reporting units, including subsidiaries, affiliated and joint venture companies.
This role acts as an extension of Group Function Group Treasury - Insurance Risk Management (GF-GTI), centralizing the purchase of all local insurances, and ensuring full participation of all local PG reporting units in PG's global and local insurance plans.
Main Responsibilities:- Manage insurable risks to protect PG and its shareholders from catastrophic loss and minimize total cost of risk.
- Act as a liaison between local Divisions, BU's other Group Functions and the Broker to ensure close cooperation.
- Improve local PG's risk profile to reduce accidental losses to 'best-in-class' levels, alerting country management of major existing/potential risk trends.
- Support creation of a Global Insurance Risk Management Portal to facilitate efficient risk management.
- Manage surety bond relationships with Broker, Insurers and coordinate with Export and Trade Finance – Guarantee Management.
- Review and monitor insurance needs in countries by establishing key contact persons in Business and/or Finance, ensuring country requirements are properly covered.
- Ensure adherence to global Directives & Instructions and compliance with compulsory insurance requirements locally.
- Actively support Business and Legal Department with tenders and Risk Review-process.
- Integrate or align local risk control efforts with those of PG Group worldwide through active liaison with GF-GTI.
- Design and implement systems for distributing insurance premiums that provide financial incentives to better control risk.
- Prepare and conduct insurance risk management seminars with local business organization and other local Group Functions.
- Provide input on insurance risks in M&A due diligence work.
- Manage departmental operating budget and maintain local manuals that are in addition to GF's manual.
- Establish and actively manage insurance broker(s) in all countries in your region.
- Develop and implement procedures manual for brokers in each country.
- Ensure compliance of contractual clauses with Broker and Legal function.
- Manage local policy placement and renewals with Broker, coverage adequacy, premium and tax payments.
- Direct brokers to establish necessary local insurance programs and self-insurance funds/accounts.
- Establish contracts with third party administrators for claim management.
- Support critical cases of incidents and claims management in various countries.
- Initiate issuance of specific insurance certificates.
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