Risk Analyst III

ONEOK•Tulsa, OK

20h•Hybrid

About The Position

Performs senior-level responsibilities supporting the corporate risk and insurance program. This role manages moderately complex claims, supports enterprise-wide risk identification and analysis, and assists in the development and administration of corporate risk and insurance program. The position works closely with legal counsel, brokers, adjusters, and internal stakeholders to ensure effective claims resolution, appropriate coverage, and effective risk transfer. Responsibilities may also include policy review and negotiation, risk reporting and analytics, development of risk management policies, and preparation of presentations for management, including senior leadership.

Requirements

Bachelor’s Degree in business, finance, or a related field OR An equivalent combination of formal education and insurance industry experience (minimum of 10 years of relevant insurance industry experience).
5+ years of experience handling or managing litigated and non-litigated claims.
Experience within a corporate risk and insurance department, insurance brokerage, or as a claims adjuster.
Demonstrated ability to read, interpret, and apply insurance policies and contracts.
Experience preparing budgets, reports, correspondence, and analytical materials.
Proficiency with Microsoft Office applications, including Excel, Word, and PowerPoint.
Experience interpreting third-party service contracts, governmental regulations and statutes, insurance applications, and industry publications.
Proven ability to develop materials and deliver formal presentations.
Knowledge of: property and casualty insurance policies
Ability to: apply math and statistical computations
Ability to: formulate response to audits involving various property and casualty insurance policies
Ability to: communicate with all levels of management, staff and employees
Ability to: conduct oral presentations as required

Nice To Haves

Charter Property and Casualty Underwriter (CPCU) preferred
Associate in Risk Management (ARM) preferred
Certified Insurance Counselor (CIC) preferred

Responsibilities

Manages moderately complex first- and third-party claims, including litigated claims, environmental claims, and large property subrogation claims.
Oversees the full claims lifecycle: investigation, evaluation, negotiation, and settlement while coordinating with insurance adjusters, internal and external counsel, ONEOK customers, and ONEOK employees to ensure timely and effective resolution.
Works closely with legal to ensure proper documentation and information exchange for claim settlements impacting the property and casualty insurance program.
Develops and documents risk management processes and methodologies.
Identifies, measures, and analyzes exposures to financial loss across the organization.
Research and evaluate risk funding methods, insurance structures, and alternative risk transfer options.
Supports leadership in evaluating risk acceptance, avoidance, and transfer decisions.
Assists in enterprise risk management (ERM) initiatives as assigned.
Reviews insurance policy language to confirm negotiated coverage, terms, and timely issuance.
Supports negotiation of new and renewal insurance policies with brokers and underwriters.
Analyzes exceptions and coverage limits related to Certificates of Insurance for customers, contractors, and vendors.
Ensures coverage aligns with company exposures and contractual obligations.
Prepares and directs risk-related information to management, brokers, and legal.
Supports preparation and analysis of risk and insurance reports, statistics, budgets, trends, and survey data.
Develops presentations for all levels of management, including senior leadership.
Conducts research and prepares feasibility studies related to captives and other alternative risk transfer mechanisms.