Risk Analyst

at Parker Hannifin Corporation - ACD in Cleveland, Ohio, United States

Job Description

Risk Analyst

Location: CLEVELAND, OH, United States
Job Family
 : Finance/Economics
Job Type
 : Regular
Posted
 : Feb 2, 2024
Job ID: 46335

Job Description

Overview
Assists the Director of Risk Management and the Risk Managers to implement Parker's property and casualty insurance and risk management programs, including use of Parker's captive insurance company, Acadia.Responsible for maintaining Parkers' RMIS, analysis of claim data, preparation and maintenance of underwriting data, evaluation of insurance contracts, communication of programs to business units, and departmental accounting.

Organizational Relationships
Reports to:Director, Risk Management
Help maintain the Parker Risk Management Website.
Responsibilities
Maintain the Parker RMIS and manage data feeds and reports.
Collect and manage current and historical exposure information and help prepare annual underwriting submissions
Assist divisions with certificate of insurance requests to comply with Parker policies
Review insurance language in customer, vendor and supplier contracts to ensure it complies with Parker's policies and standards.
Analyze loss experience at the location, business unit, and corporate level to identify trends.
Collect data and prepare reports for compliance with state regulations for workers compensation in self-insured and monopolistic states
Work with Risk department and Parker accounting to prepare and manage risk management and insurance budgets, estimates and cost allocations to business units.
Prepare cost/benefit analyses of various programs and procedures within risk management
Assist with insurance and risk management due diligence reviews for mergers and acquisitions.
Work with Division HR managers to assure compliance with Parker and internal TPA standards and procedures for workers' compensation claims.
Assist with the investigation of major losses and manage forensic consultants.
Collaborate with legal on pertinent claims matters
Maintain and update BCP templates, coordinate completion by business units and maintain database of business unit plans.
Collaborate with Parker EHS to test and revise business unit BCP plans and procedures.
Track and ensure payment of premium, broker, and vendor invoices
Education & Qualifications:
Bachelor's degree required
CRM, ARM, CPCU, or another risk management or insurance designation a plus

Minimum 3 years of related or relevant experience.
Insurance and/or claims experience desirable
Strong experience with data management & reporting systems.

Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Learn more at www.parker.com or @parkerhannifin.

Parker is an Equal Opportunity and Affirmative Action Employer. Parker is committed to ensuring equal employment opportunities for all job applicants and employees. Employment decisions are based upon job related reasons regardless of race, ethnicity, color, religion, sex, sexual orientation, age, national origin, disability, gender identity, genetic information, veteran status, or any other status protected by law. However, U.S. Citizenship, Permanent Residency or other appropriate status is required for certain positions, in accord with U.S. import & export regulations.

("Minority / Female / Disability / Veteran / VEVRAA Federal Contractor")
If you would like more information about Equal Employment Opportunity as an applicant under the law, please go to Know Your Rights: Workplace Discrimination is Illegal (eeoc.gov) and Genetic Information Discrimination

Parker is an Equal Opportunity and Affirmative Action Employer. Parker is committed to ensuring equal employment opportunities for all job applicants and employees. Employment decisions are based upon job related reasons regardless of race, ethnicity, color, religion, sex, sexual orientation, age, national origin, disability, gender identity, genetic information, veteran status, or any other status protected by law. U.S. Citizenship/Permanent Resident is required for most positions.