Insurance Risk Analyst Lead

Insurance Risk Analyst Lead

The Lead Insurance Risk Analyst works under minimal supervision and with appreciable latitude for actions and decisions, assists in connection ensuring that the Company maintains an effective Corporate Insurance Program which includes the types of insurance coverages that typically would be included in an insurance program for a company with a similar risk profile to the Company. Among other things, this lead is responsible for policy and claims administration tasks relating to the Company's Property and Casualty (including Workers Compensation) Insurance Program, including (a) tracking the Company's insurance policies to ensure they do not lapse; and (b) reporting, investigating and tracking claims made under such policies. This lead is also responsible for administrative tasks, such as ensuring that all premium invoices are timely paid and logged, responding to governance and related administrative requests (e.g. Archer ERM submissions, BCP submissions, Operational Risk Reporting, Record Retention Questions) as well as miscellaneous filing, including, without limitation, reporting and tracking claims made under the Company's Employment Practices Liability Insurance Policy and tracking renewals of the bonds in the Company's Surety Bond program.

Job Responsibilities :

• Manages claims administration process relating to the Company's Property and Casualty insurance program, from First Notice of Loss through to completion, including (a) receiving, investigating, filing and logging Incident Reports and related documentation, (b) performing claims analysis to determine trends, identify root causes, and address recurrence and prevention of unexpected incidents that may result in injury to employees and / or customers, and (c) identification of remedial measures and loss control efforts. When requested, writes summaries of same, and prepares correspondence, memoranda, and reports utilizing word processing and spreadsheet systems. Additionally, assists in oversight of Workers Comp claims (which are primarily managed by the Bank's Human Resources Benefits Group). Tasks relating to managing P&C claims include without limitation :
• Obtaining details relating to an incident (including date, location, and extent of damage)-Responding to carrier's request for additional documentation.
• Assisting the Director in management of any litigation relating to the Company's P&C insurance program, including, without limitation, receiving and reviewing Summons and Complaints alleging negligence and forwarding same to appropriate insurance broker or insurance carrier for acknowledgment and assignment to an attorney, retrieving and organizing information relating to the occurrence and sending same to the outside defense attorney, identifying document custodians, drafting and sending out litigation hold letters, and tracking receipt of certifications, responding to discovery requests and interrogatories, etc., and ensuring all pleading deadlines are met; acting as liaison between outside defense attorney, the branches, and the Corporate Real Estate -Services Departments, including arranging for interviews and scheduling depositions and deposition prep sessions; reviewing attorney status reports and updating slip and fall litigation logs; and keeping tracking spreadsheets of same.
• Responds to requests seeking information regarding the Company's Corporate Insurance Program, including requests from auditors, regulators, other Flagstar business units, landlords and others. This responsibility includes management of issuance of Certificates of Insurance (COI) for all lines of coverage by Brokers at renewal and / or midterm. Tasks include, without limitation, reviewing leases to determine what insurance information should be included in COIs, ordering COIs from insurance brokers, reviewing COIs for completeness, accuracy, and conformance to contractual requirements, as well as maintaining and updating tracking spreadsheets and files.
• Performs miscellaneous administrative tasks, such as filing insurance policies for all lines, ensuring that premium and other invoices are timely paid and logged, responding to internal governance and related requests (e.g. Archer ERM submissions, BCP submissions, Operational Risk Reporting, Record Retention questions), updating procedures and lists of same, and miscellaneous filing, including, without limitation, filing and tracking claims made under the Company's Employment Practices Liability Insurance Policy and filing and tracking renewals of bonds in Company's Surety Bond Program.
• Assists in procurement of insurance policies including gathering underwriting information from relevant business operations, analyzing data, completing renewal applications, and responding to requests for follow-up information from brokers and underwriters, including without limitation responding timely to risk assessments conducted by insurance carriers.
• Mentors and assists junior level personnel.

Additional Accountabilities

Job Requirements

Required Qualifications :

Preferred Qualifications :

Job Competencies :

Flagstar is an Equal Opportunity Employer

Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program.