Operational Risk Specialist (Hybrid - Buffalo, NY)
About The Position
The Operational Insurance Specialist provides operational and administrative support for the Bank’s insurance program. This role assists with insurance procurement activities, policy renewals, contract tracking, loss data reporting, and insurance-related invoice processing. The position supports the insurance team by coordinating documentation, maintaining accurate records, and ensuring timely execution of insurance-related financial and administrative activities. This role operates within Finance and does not perform risk management, underwriting, or claims handling functions.
Requirements
- Bachelor’s degree and five years' experience in Financial Lines and Professional Lines insurance.
- Prior experience as an Account Manager or Account Executive in or or more of the following settings: Insurance Brokerage Firm, Insurarance Carrier, Client-side or business insurance role with policy procurement responsibilities.
- Demonstrated understanding of insurance placement, renewal cycles, and policy documentation.
- Experience supporting insurance programs through administrative, coordination, or finance-related activities.
Nice To Haves
- Strong organizational and tracking skills with the ability to manage multiple renewals, contracts, invoices, and reporting requirements concurrently.
- High attention to detail and strong documentation discipline.
- Ability to coordinate effectively with internal teams and external partners (brokers, carriers, vendors).
- Proficiency in Microsoft 365 applications (Excel, Word, SharePoint, Outlook).
- Experience supporting insurance programs in a corporate or financial services environment.
Responsibilities
- Assist the insurance team in collecting, organizing, and validating information required to support the insurance procurement and renewal process.
- Coordinate and track insurance policy renewals, contracts, and related documentation associated with the Bank’s insurance program.
- Maintain organized records of insurance policies, endorsements, certificates, contracts, and renewal calendars in accordance with internal standards.
- Support the administration and tracking of contracts related to insured and uninsured exposures across the Bank.
- Report loss data for insurance programs as required to support internal reporting, carrier submissions, and renewal processes.
- Process and coordinate payment of insurance-related invoices, including: General insurance invoices, Insurance premiums, Loss cost and claim-related expense invoices.
- Monitor invoice accuracy and ensure timely submission and payment in accordance with Finance procedures.
- Serve as an operational point of contact for internal stakeholders regarding insurance documentation, renewal timing, loss reporting, and invoice status.
- Assist with process improvements related to insurance administration, documentation consistency, and workflow efficiency.
- Provide general operational and administrative support to the insurance team as needed.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Number of Employees
5,001-10,000 employees
