Under direction plans, directs, and coordinates risk and insurance programs intended to control financial risks, losses, and liability for a local jurisdiction, agency, or other government entity; does related work as required.
NOTE: The examples of work for this title are for illustrative purposes only. A particular position using this title may not perform all duties listed in this job specification. Conversely, all duties performed on the job may not be listed.
DISTINGUISHING CHARACTERISTICS
Positions in this class are responsible for the formulation, implementation, and monitoring of procedural policies as they relate to insurance, safety, claims, and settlement of losses. The risk manager may or may not have supervisory responsibilities over a subordinate staff although occasional direction may be provided to employees during the performance of their duties. Some of the technical analysis work may be accomplished on a contractual basis by a firm specializing in loss control or risk identification.
Insurance risk management is a systematic effort on the part of top administrative staff, as guided and advised by the risk manager, to conserve general assets of a jurisdiction or other similar government entity through prevention and control of accidental loss. In the insurance field there is a specific approach to managing accidental loss and these individuals are thoroughly knowledgeable in the principles and practices of risk or loss control analysis work. At this level these individuals are responsible for one or more of the following insurance and risk program areas: planning and advising on the direction of an extensive (jurisdiction-wide) and complex insurance risk program, studying long range needs and recommending policy and procedures through the jurisdiction's departments to meet the goals for an extensive insurance risk program, serving in connection with an extensive risk insurance program and claims processing as a representative of the jurisdiction to outside insurance agents, combining a working knowledge of information systems, fiscal management, data processing with technical insurance analysis, and evaluation work.
Positions in this class may also be involved in administering insurance programs such as fidelity, surety, liability, property, group life, medical, pension plans, workers' compensation for a government entity, and making recommendations to top management regarding various activities on which insurance is dependent; namely, safety inspections and studies, claims investigation and loss control, safety training, and policies and procedures pertaining to insurance and related fiscal matters.
The work performed involves such functions as determining the kinds and amounts of commercial insurance needed, making analysis to determine reasonable rates, adequacy of coverage, and propriety of related provisions in insurance contracts, developing insurance program policies and procedures, and recommending the purchase of insurance.
In some settings individuals in this class are responsible for ensuring adequate employee benefits plans for medical and dental, group life, pension plans, and so forth.
Administers an insurance program which includes risk (or loss control) as an integral component by establishing jurisdiction-wide objectives, policies, and standards, and integrating them with operations of the departments through specific plans and procedures stressing preventative measures for accidental loss and damages.
Conducts or oversees internal or contracted studies of jurisdiction activities by reviewing accounting records, operating manuals, narrative reports, and inspection reports on work operations and activities to analyze and classify losses (risks) as to frequency and potential severity and/or to identify sources of liability.
Performs comprehensive analysis of risks to which a jurisdiction is exposed by (1) evaluating assets versus specific perils/hazards, (2) evaluating loss potential vis-a-vis frequency and severity, (3) studying all operations and contracted activities to measure overall financial impact of risks on the jurisdiction's financial assets.
Evaluates degree of risk involved in designated insurance category (or line of insurance) by analyzing physical and environmental factors, onsite inspection reports, engineering reports, and claim and loss record histories to select adequate amounts of insurance coverage through commercial entities, self-insurance, or any other combination thereof.
Evaluates information regarding jurisdiction's loss exposures and liabilities to recommend risk control policy and procedures to top administrative personnel.
In cooperation with top administration, selects appropriate technique(s) to minimize losses: namely, elimination or avoidance of risk; loss prevention and reduction (reducing frequency and severity of loss); retention (self-insurance and planned noninsurance); grouping of exposure units; and transfer that the appropriate and effective measures may be adopted for controlling risks.
Plans, initiates, or promotes various measures for minimizing losses using such methods as posters, literature, education, and training in safe work habits and practices, use of special construction features or devices (for example, sprinkler systems) to implement programs intended to prevent losses and minimize claims costs.
Formulates and establishes procedures for reporting accidents and claims by such means as inhouse investigations of accident circumstances, interviews, and hazards identification, and makes recommendations for operational changes to record accurate accident data for claims processing and to detect trends in hazards on government property.
Identifies, analyzes, and evaluates risks that would cause major financial losses to the jurisdiction, agency, or other entity.
Advises management on all matters relating to cost amounts and types of insurance needed including commercial insurance, planned noninsurance, self-insurance, and so forth based on loss potential or severity to provide for proper coverage and reserves in case of catastrophic loss.
Deals with financial officers and commercial firms providing such services as appraisal and property inventories to develop data affecting insurance rates, financial condition and assets of the jurisdiction, and the jurisdiction’s ability to finance insurance programs.
Performs risk finance analysis work and makes appropriate recommendations to determine the financial ability to qualify and continue to qualify as self-insurers.
Maintains harmonious working relationships with various officials, loss control engineers and specialists, line supervisors, attorneys, and so forth to exchange information about loss exposure, use of contract terminology, and other similar issues relating to implementation of risk control measures and insurance programs.
Maintains harmonious working relationships with producers (for example, agents) and insurance companies, insurance auditors, and claims adjusters to prevent delays in claims services or to respond to safety engineering advice, and so forth or to relay information to them regarding lines of coverage, cost, services, or procedures.
Purchases insurance coverage such as but not limited to casualty, property (real and personal), fidelity, group life, medical and dental, pension plans, and so forth by developing invitations for bid and requests for proposal or quotations and other similar means to facilitate the selection of the most economical source of insurance protection.
Conducts, oversees, and arranges with operating supervisors a full range of appraisal inspections and inventories, and includes financial and operating data to establish information which will serve as the basis for identifying assets, liability, and determining extent of coverage, premiums, and so forth.
Oversees and coordinates a full range of inspections and studies such as specialized engineering and underwriting inspections and actuarial studies, and so forth to establish and recommend adequate levels of cash funds or appropriations according to insurance regulations and legal requirements.
Determines and recommends to administrative staff higher or lower policy limits, premiums, and so forth by analyzing insurance loss history (for example, claims and accident record) and comparable coverages for other insured to establish cost efficient and adequate coverages and premiums for any particular risk.
Examines liability clauses in various documents such as leases, contractual work agreements, and so forth to recommend adequate levels of indemnification (coverage), reduce risk, or eliminate unnecessary risks.
Recommends selection of insurance brokers and carriers and alternate methods of insurance by analyzing/comparing coverages, premiums, policy terms, and other provisions to arrange for adequate insurance protection for the assets of the jurisdiction or other similar government entity.
May coordinate and arrange for various insurance programs such as fidelity, surety, liability, property, group life, medical, pension plan, workers' compensation.
May perform other functions relating to real rental property agreements such as developing pertinent data (for example, property conditions, costs, rental values) prior to lease/rent to ensure proper utilization and preservation of government interests and assets.
May negotiate lease agreements with successful bidders to complete business transactions according to standard methods and practices for leasing or rental.
May supervise a staff of paraprofessionals and clerical assistants.
Will be required to learn how to utilize various types of electronic and/or manual recording and information systems used by the agency, office, or related units.
NOTE: Applicants must meet one of the following or a combination of both experience and education. Thirty (30) semester-hour credits are equal to one (1) year of relevant experience.
Nine (9) years of professional experience, two (2) years of which shall have been in a supervisory capacity, involving (1) the investigation or analyses of insurance claims to determine the extent of the liability and/or negligence of the insured; or (2) the coordination of insurance and risk management activities for the purpose of protecting the public, employees, and property from physical harm or other damage and to reduce the liability exposure of an employer; or (3) safety program management and/or accident prevention and loss control and/or accident analysis and report writing of same; or (4) the commercial underwriting of property and casualty insurance; (5) the negotiating with claimants the settlement of property and casualty insurance claims.
OR
Possession of a bachelor's degree from an accredited college or university; and five (5) years of the above-mentioned professional experience, two (2) years of which shall have been supervisory capacity.
NOTE: "Professional experience" refers to work that is creative, analytical, evaluative, and interpretive; requires a range and depth of specialized knowledge of the profession's principles, concepts, theories, and practices; and is performed with the authority to act according to one's own judgment and make accurate and informed decisions.
LICENSE:
Appointees will be required to possess a driver's license valid in New Jersey only if the operation of a vehicle, rather than employee mobility, is necessary to perform the essential duties of the position.
KNOWLEDGE AND ABILITIES:
Knowledge of the philosophy, principles, and procedures necessary to provide for adequate risk management of public property and casualty exposures including all liability, workers’ compensation, and losses due to criminal acts and/or negligence.
Knowledge of the insurance industry including standard markets, excess and surplus markets, and reinsurance markets, and of the art of negotiating and procuring insurance from same.
Knowledge of methods and procedures used in research and development of information for proper risk management analysis, evaluation, and protection.
Knowledge of forms, laws governing leases, contracts, and bids, professional services, and insurance clauses or provisions.
Knowledge of methods and procedures used in the review, analysis, and evaluation of insurance policies, coverage, and limits to determine cost effectiveness as to the limits of liability, degree of coverage, and/or self-insured retention needed.
Knowledge of methods and formats used in preparing analytical reports, conclusions, and recommendations as to proper risk management.
Knowledge of various types of insurance contracts and of the laws, rules, and regulations governing and/or maintaining insurance coverage, and the bonding of employees’ functions or services in the public sector.
Knowledge of methods used in loss control inspection and analysis, property appraisal, facility and operation analysis, and the laws pertaining to public employees’ Occupational Safety and Hazard Act, and exposure to hazardous substances in the workplace.
Knowledge of methods and procedures used in compiling risk management records and files to allow for ready access of the information therein contained.
Knowledge of loss prevention methodology relative to implementing and controlling a loss control program.
Knowledge of budget preparation procedures.
Knowledge of proper procedures of investigation and adjustment or claims.
Knowledge of the art of risk management.
Knowledge of intergovernmental risk financing.
Ability to gather information from source material (including other agencies) and physical examination, and to organize such material into usable format for evaluation, analysis, and the recommendation of policy or procedure.
Ability to read, examine, and comprehend various documents of a legal nature such as contracts of insurance, leases, contracts, statutes, court decisions, and legal opinions.
Ability to evaluate various insurance premiums and form filings to determine cost and coverage effectiveness.
Ability to prepare comprehensive reports containing facts, conclusions, and recommendations.
Ability to apply knowledge of various rules, regulations, and eligibility requirements to a given set of facts to determine whether specified criteria has been met.
Ability to compile lists and maintain adequate records concerning risk management including premiums, loss funds, separation of self-insured retention from policy payment, subrogation, and first part claims.
Ability to design and implement a loss control program which will reduce property and casualty loss, and to provide a safe environment for employees and the public.
Ability to gather, organize, and analyze financial information on which a budget may be prepared.
Ability to manage claims, act as liaison between all parties including administrators, attorneys, and claimants, and to see the claim through final adjustment.
Ability to advise, guide, and assign work to professional assistants, clerical personnel, and paraprofessional employees.
Ability to prepare budgets for premiums, loss control, and loss funding both for prior years’ reserves and non-anticipated future loss.
Ability to learn how to utilize various types of electronic and/or manual recording and information systems used by the agency, office, or related units.
Ability to read, write, speak, understand, and communicate in English sufficiently to perform the duties of this position. American Sign Language or Braille may also be considered as acceptable forms of communication.
Persons with mental or physical disabilities are eligible if they can perform the essential functions of the job with or without reasonable accommodation. If the accommodation cannot be made because it would cause the employer undue hardship, such persons may not be eligible.
