Risk Analyst

at  McGill University

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Position Summary:
Reporting to the Director, Risk Advisory and Insurance Services, the Risk Analyst develops and implements risk management and loss prevention strategies. Provides financial information and analysis towards evaluating insurance requirements. Determines required processes towards implementing decisions that will minimize the adverse effects of losses and negative financial impacts upon McGill University through insurance coverage. Responsible for organizing, compiling, and completing insurance policy application forms by assembling underwriting information from relevant internal parties to ensure that McGill’s risk exposure is accurately disclosed to insurers. Provides advice regarding the risk management program.

Primary Responsibilities:

• Participate in the development and implementation of new insurance initiatives that support the strategic direction of the Risk Advisory and Insurance Services unit.
• Apply professional expertise, specialized skills and knowledge to analyse a wide variety of insurance policies towards accurate projection of insurance premiums.
• Provide support to management concerning risk self-assessments.
• Collaborate with and provide insurance-related data to internal auditors and stakeholders.
• Assess progress of work through all phases of an assignment including evaluation of results and drafting of reports.
• Create risk assessment templates.
• Review insurance requirements clauses in contracts.
• Manage certificate of insurance requests (ingoing and outgoing).
• Provide professional expertise regarding university-wide requests with respect to operational risk and insurance required for various activities.
• Manage yearly renewal of all insurance policies.
• Collaborate with insurance broker to subscribe to new insurance policies when required.
• Communicate regularly with insurance brokers, insurers, and internal stakeholders regarding risk and insurance matters.
• Compile data required by insurers and brokers.
• Manage the inventory and reporting of property values with respect to university assets.
• Provide recommendations regarding reasonable deductibles/self-insurance.
• Plan and attend site visits with property insurers.
• Maximize efficiency through research and contacts with other universities and external service providers through formal channels and networking.
• Develop and deliver loss prevention training initiatives through risk awareness outreach programs and investigation of incidents post loss.
• Manage and organize unit data and documentation.
• Manages content of the Risk Advisory and Insurance Services website.
• Collaborate with unit personnel regarding general insurance inquiries or reviews as considered necessary.
• Attend meetings, make recommendations, and provide solutions towards improving the risk profile of McGill University.

Other Qualifying Skills and/or Abilities
Highly recommend Insurance industry related experience (risk management, claims adjusting, underwriting). Excel proficiency; advanced abilities with MS Office Suite. Excellent analytical skills and intermediate knowledge of general accounting principals. Excellent written and spoken skills in French and English. McGill related financial services experience is an asset. Ability to multi-task and function under pressure and adapt well to change. Strong leadership skills. Client-service focused. Willingness to pursue industry-related training and education.
Knowledge of French and English: McGill University is an English-language university where day to day duties may require English communication both verbally and in writing. The level of English required for this position has been assessed at a level 4 on a scale of 0-4.
Minimum Education and Experience:
Bachelor’s Degree 3 Years Related Experience with Bachelor’s Degree /
Annual Salary:
(MPEX Grade 05) $70,820.00 - $88,530.00 - $106,240.00
Job Profile:
MPEX-FIN2C - Audit, Risk, Insurance & Investments - Professional 2
Hours per Week:
33.75 (Full time)
Supervisor:
Director Risk Advisory and Insurance Services
Position End Date (If applicable):
Deadline to Apply:
2024-10-04
McGill University hires on the basis of merit and is strongly committed to equity and diversity within its community. We welcome applications from racialized persons/visible minorities, women, Indigenous persons, persons with disabilities, ethnic minorities, and persons of minority sexual orientations and gender identities, as well as from all qualified candidates with the skills and knowledge to productively engage with diverse communities. McGill implements an employment equity program and encourages members of designated groups to self-identify. Persons with disabilities who anticipate needing accommodations for any part of the application process may contact, in confidence,
accessibilityrequest.hr@mcgill.ca.

• Participate in the development and implementation of new insurance initiatives that support the strategic direction of the Risk Advisory and Insurance Services unit.
• Apply professional expertise, specialized skills and knowledge to analyse a wide variety of insurance policies towards accurate projection of insurance premiums.
• Provide support to management concerning risk self-assessments.
• Collaborate with and provide insurance-related data to internal auditors and stakeholders.
• Assess progress of work through all phases of an assignment including evaluation of results and drafting of reports.
• Create risk assessment templates.
• Review insurance requirements clauses in contracts.
• Manage certificate of insurance requests (ingoing and outgoing).
• Provide professional expertise regarding university-wide requests with respect to operational risk and insurance required for various activities.
• Manage yearly renewal of all insurance policies.
• Collaborate with insurance broker to subscribe to new insurance policies when required.
• Communicate regularly with insurance brokers, insurers, and internal stakeholders regarding risk and insurance matters.
• Compile data required by insurers and brokers.
• Manage the inventory and reporting of property values with respect to university assets.
• Provide recommendations regarding reasonable deductibles/self-insurance.
• Plan and attend site visits with property insurers.
• Maximize efficiency through research and contacts with other universities and external service providers through formal channels and networking.
• Develop and deliver loss prevention training initiatives through risk awareness outreach programs and investigation of incidents post loss.
• Manage and organize unit data and documentation.
• Manages content of the Risk Advisory and Insurance Services website.
• Collaborate with unit personnel regarding general insurance inquiries or reviews as considered necessary.
• Attend meetings, make recommendations, and provide solutions towards improving the risk profile of McGill University