Job Information
ARAMARK Risk & Insurance Analyst in Philadelphia, Pennsylvania
Job Description
The Risk & Insurance Analyst provides technical and analytical support to the Global Insurance team on the procurement and management of the global insurance programs. Individual will prepare timely and accurate underwriting submissions and program specifications, review insurance policies and endorsements for accuracy and manage the administration and issuance of insurance documentation. Individual will also manage, review and evaluate requests for information, proposals, contracts, etc identifying potential liability exposures, regulatory compliance concerns, insurance program compliance and other enterprise risk issues, collaborating as necessary with other subject matter experts and Aramark in-house legal teams. The analyst will be responsible for updating information in the Risk Management Information Systems (RMIS).
Job Responsibilities
Insurance Programs:
? Assist with analysis of underwriting and loss data, independently preparing submissions and completing applications for renewals, providing timely to VP, Global Risk Management. Interfaces with insurer and brokerage personnel on questions arising out of the applications / renewals.
? Assists with the preparation of insurance coverage specifications.
? Assists in developing and executing renewal timelines working closely with broker and insurer partners. Maintains annual insurance renewal calendar as needed.
? Assists VP, Global Risk Management on the preparation of presentation materials for insurer market and participate in meetings.
? Keeps abreast of new exposures of the organization, explores potential coverage with broker partners and communicates appropriately to the business about whether coverage exists under current insurance programs. Explains applicable deductibles and/or retentions and the potential financial risk to the business if necessary.
? Verifies receipt and accuracy of coverage binders, policies, endorsements, and all other coverage documentation within established specifications. Tracks and monitors timely completion of policy delivery, corrections, and necessary changes by brokers / insurers.
? Maintains current summaries of insurance from brokers, distributing internally as appropriate.
? Maintains RMIS policy information application, updating on an ongoing basis.
? Maintains authorization to bind documentation in conjunction with Sarbanes Oxley responsibilities.
? Notifies appropriate internal contacts of relevant policy changes and coverage issues.
? Responsible for implementing and following process for sharing / reporting of premium, broker, and tax payments to Risk Finance for communicating with Treasury and Corporate Accounting.
? Reviews premium, broker and tax invoices for accuracy providing such to Risk Finance for processing via wire transfer or accounts payable system.
? Assists in creating/maintaining premium payment schedules as well as global corporate allocations.
Maintains Sarbanes Oxley required documentation on behalf of the Global Insurance team.
Job Responsibilities continued
Contracts:
? Review Requests for Information, Requests for Proposals and other new business ventures to analyze complex risk issues associated with new business opportunities effectively communicating findings within Global Risk Management Line of Business and Aramark in-house legal team.
? Identify potential risk issues such as liability and property exposures, potential regulatory compliance concerns, including but not limited to environmental and cyber liability matters, and other business risks associated with new business opportunities.
? Effectively communicate with internal stakeholders to obtain clarification concerning new business opportunities, associated risks, and risk mitigation strategies.
? Engage appropriate members of Global Risk Management team to assist in evaluation and assessment of new business opportunities.
? Engage appropriate members of brokerage partner teams to assist in reviewing contract language, evaluating industry norms and coverage applicability.
? Review renewal contracts and identify potential risk issues, policy compliance concerns and look for areas to improve on language where available.
? Participate in negotiations with client/supplier legal or risk teams on contract language.
Claims assistance:
? Assist internal Aramark personnel on claim reporting procedures.
? Assist with researching coverage issues and provide occasional assistance to claims team on responding to insurer coverage declinations and reservations of rights communications.
Other:
? Prepares and presents presentations on risk review process and insurance programs to internal / external contacts as appropriate. Participates on special projects as required.
? Evaluates request for proposal review process as needed with key stakeholders and recommends improvements on an as needed basis
Qualifications
Bachelor?s degree from an accredited college or university, preferably in business administration, risk management or a related field.
Experience (2+ years) working in a risk management department, insurance company or insurance brokerage firm.
Proficiency in use of Microsoft Office (Word, Outlook, Excel, PowerPoint) and database systems.
Preferences:
Professional affiliations (ARM, CPCU, Agents & Brokers License)
About Aramark
Our Mission
Rooted in service and united by our purpose, we strive to do great things for each other, our partners, our communities, and our planet.
At Aramark, we believe that every employee should enjoy equal employment opportunity and be free to participate in all aspects of the company. We do not discriminate on the basis of race, color, religion, national origin, age, sex, gender, pregnancy, disability, sexual orientation, gender identity, genetic information, military status, protected veteran status or other characteristics protected by applicable law.
About Aramark
The people of Aramark proudly serve millions of guests every day through food, facilities, and uniform services in 19 countries around the world. Rooted in service and united by our purpose, we strive to do great things for each other, our partners, our communities, and our planet. We believe a career should develop your talents, fuel your passions, and empower your professional growth. So, no matter what you're pursuing - a new challenge, a sense of belonging, or just a great place to work - our focus is helping you reach your full potential. Learn more about working here at http://www.aramarkcareers.com or connect with us on Facebook , Instagram and Twitter .