Risk Insurance Captive Analyst - Senior

Cummins•Indianapolis, IN

13h

About The Position

Partners with the captive administrator, actuaries, and consultants to provide technical analysis and support for financial transactions and claim-related matters for the captive and risk management team. Supports captive financial reporting and governance activities. Provides analytical support on domestic and international insurance programs covering Property, Marine, General Liability, Professional Liability, Crime, Auto, Products Liability, and Employers Liability. Prepares complex and interpretive financial analyses and reports; coordinates captive financial activities, including monthly and year-end financial reporting, investments, tax, and captive service-level agreements. Monitors renewal progress and premium cessions by line with Global Risk Managers, and performs cash management, including approval of payments. Coordinates collection and review of coverage-line data for actuarial loss studies supporting policy renewals and budget decisions. Participates in claim review and analysis, including monthly captive insurance company reporting and quarterly large-claim reviews with the Claims team and third-party claims administrator. Analyzes and oversees certain large property and casualty claims and monitors claim trends. Prepares and facilitates captive meetings, including the annual Board of Director meeting in Vermont, quarterly Advisory Committee meetings, and quarterly finance reviews. Manages financial transactions for acquired group captive insurance programs and run-off insurance programs, handles internal communications, and tracks and monitors the third-party captive administrator. The role supports management of the captive insurance company, insurance program renewals, and certain claim activities. It requires a college, university, or equivalent degree in Finance, Accounting, Treasury, or an insurance-related field, along with intermediate-level relevant professional work experience. Three to five years of experience in risk management, insurance, brokerage, finance, or captive management is preferred.

Requirements

College, university, or equivalent degree in Finance, Accounting, Treasury, or an insurance-related field.
Intermediate-level relevant professional work experience in the field of study.
Captive management, financial analysis, and insurance acumen relevant to the role.
Ability to analyze financial data, investigate variances, and determine corrective actions.
Ability to interpret actuarial studies and insurance exposure data.
Project management, communication, collaboration, problem-solving, and process optimization skills.
Ability to manage ambiguity, take accountability, build customer relationships, and work collaboratively.

Nice To Haves

Three to five years of experience in risk management, insurance, brokerage, finance, or captive management.
Professional certifications such as ARM, CPCU, CPA, CCI, ACI, or similar.
Project management, communication, and collaboration skills.

Responsibilities

Provide analytical support for domestic and international insurance programs across multiple lines of coverage.
Prepare complex and interpretive financial analyses and reports.
Coordinate captive financial activities, including monthly and year-end reporting, investments, tax, and captive service-level agreements.
Monitor insurance renewal progress and premium cessions by line in coordination with Global Risk Managers.
Perform cash management, including approval of payments.
Coordinate collection and review of coverage-line data for actuarial loss studies supporting policy renewals and budget decisions.
Participate in claim reviews and analysis, including monthly captive insurance company reporting and quarterly large-claim reviews.
Analyze and oversee certain large property and casualty claims and perform claim trend analysis and monitoring.
Prepare and facilitate annual and quarterly captive governance and finance meetings.
Manage financial transactions for acquired group captive insurance programs and run-off insurance programs.
Manage internal communications and track and monitor the third-party captive administrator.
Support management of the captive insurance company, insurance program renewals, and certain claim activities.
Comply with captive regulatory requirements and support captive operations, reporting, and governance.
Analyze financial data, trends, variances, opportunities, and risks; communicate conclusions and investigate discrepancies to support sound financial decisions.
Interpret actuarial studies and loss history to support renewal decisions and loss mitigation.