Job Description

Job Description
This opportunity may be filled at one of two levels within the referenced titles, based upon education, related work experience and skills.

Risk & Insurance Analyst
Risk & Insurance Analyst Senior

Position Summary

Provide technical support in the evaluation and recommendation of risk financing of hazard risks arising from the management and operations of AEP including procurement of insurance, self-insurance techniques, use of captive insurance and any other viable alternatives to finance hazard risk. Evaluate moderately complex contracts with vendors and other counter-parties, overseeing claims, managing broker and other intermediaries' relationships to procure insurance or provide risk related services. Will work independently depending on the complexity of the task.

Job Duties

1) Perform hazard risk identification and analysis of AEP's assets and liabilities including its affiliates and recommend strategies for mitigating, retaining, transferring or financing such risks.

2) Engage in the oversight of captive management and operations including any one or more of the following areas: moderately complex to complex claims; underwriting; financial reporting; investment reviews; financial position analysis; reinsurance; cash flow; case reserve reporting; banking relationships; financial and operational audits; actuarial studies and/or compliance with Sarbanes-Oxley Act requirements.

3) Collaborate on complex risk analysis, policy review, underwriting data, cost/benefit analysis, premium allocation and/or placement of new and renewing insurance programs or surety.

4) Coordinate and participate in loss control or risk control activities including proposing solutions and/or resolutions to loss control recommendations on moderately complex to complex issues.

5) Lead or participate in moderately complex to complex claims being pursued against insurance programs. Reviewing and approving information to be submitted to insurers or adjusters. Make recommendations for settlement value, negotiate with insurance adjusters on moderately complex claims, prepare and execute proofs of loss.

6) Take charge of the review of moderately complex to complex contracts between AEP and vendors, contractors and any other counter-party regarding any provisions that may have an impact on our retention or transfer of risks pertaining to any liability or asset.

Minimum Requirements

Risk & Insurance Analyst

Education:

Bachelor's degree in business administration, finance, risk management, insurance, engineering or relevant field.

Work Experience:

No experience required.

Risk & Insurance Analyst Senior

Education:

Bachelor's degree in business administration, finance, risk management, insurance, engineering or relevant field.

Work Experience:

Minimum of four (4) years of relevant experience. Relevant experience may include work experience in the insurance industry as an underwriter, claims adjuster, loss control engineer, or financial analysis, or other related business experience.

Additional Information:

Travel requirements are expected > 10 % of the time.

1) Candidates with two or more years of experience in corporate risk management are preferred.
2) (CPCU) Chartered Property Casualty Underwriter or (ARM) Associate in Risk Management preferred.
3) Travel: domestic and international (requires passport) to visit vendors, brokers and insurance markets; AEP plant and field visits.
4) Strong written and verbal communication skills.