Risk Management Analyst - Secaucus, New Jersey in Secaucus, NJ at Quest Diagnostics

Date Posted: 4/27/2020

Job Snapshot

Job Description

Look for more than answers. Patients and physicians rely on our diagnostic testing, information and services to help them make better healthcare decisions. These are often serious decisions with far reaching consequences, and require sensitivity, tact and a clear dedication to service. It’s about providing clarity and hope.

You will work for the world leader in the industry, with a career where you can expand your skills and knowledge. You’ll have a role where you can act with professionalism, you can inspire colleagues, and you can care about the work we do and the people we serve.

At Quest Diagnostics, we are on a continuous journey of discovery and development. It’s this attitude that has made us an industry leader and the #1 diagnostic laboratory in the US. For those joining us, we offer exciting and fast-moving career opportunities where you can affect change at a rate unheard of in many organizations of our size and scope. While we invest in and develop technology to drive our innovations, our ongoing success relies on our people.

This is a contractor role with potential for permanent employment.

Risk Management Analyst - Responsibilities

Renewal Underwriting

Prepare insurance renewal submissions inclusive of coverage specifications, loss detail and exposure analysis for the following lines of coverage:

  • Workers compensation and automobile liability
  • Primary medical professional liability (State Funds)
  • Responsible for insurance medical licensure compliance for the pathologists
  • Excess professional liability
  • International liability

Compliance, Licensure, and Professional Liability Certificates of Insurance

  • Manage insurance program for the professional liability state funds of Pennsylvania, Wisconsin, Kansas, and Indiana.
  • Consult and advise on coverage with current and former pathologists in conjunction with Legal, Human Resources and Corporate Medical.
  • Manage professional liability credentialing requests including Payer Enrollment and Commercial Contracting groups in support of hospital and health plan pathologist and entity applications.
  • Maintain and update certificates of insurance for pathologists through the Licensure and Certification Database for credentialing by Provider Enrollment and Lab Operations groups.

Contract Review, Certificates of Insurance and Policy Archives

  • Perform reviews of insurance contract language for new and renewal business services. Conformity with insurance policy language specification and compliance.
  • Assess risk and negotiate changes to transfer liability where possible through discussions with contracts group, business unit, legal department and clients.
  • Manage Certificate of Insurance production with brokers and insurance companies to ensure compliance with insurance policies and contracts.
  • Oversee department records management including electronic maintenance of documents and archives in the Sharefile.

Due Diligence/Acquisitions

  • Support risk management diligence on all acquisitions
  • Integrate and assimilate target’s insurance into our coverages and determine run-off issues.  
  • Provide ongoing support and guidance to acquisition company employees.

Invoices, Escrow Reconciliation and Collateral Analysis       

  • Prepare funding for professional and general liability escrow accounts including loss report verification.
  • Submit monthly cash forecast to Treasury.  
  • Verify, obtain appropriate authorizations and provide general ledger coding on all risk management invoices and wires.
  • Review annual WC and AL retrospective adjustment calculations for legacy Quest and acquisition businesses.
  • Conduct annual review of collateral and escrow requirements of current, legacy and acquisition programs for reduction or elimination.
  • Provide support for annual audits


•     Bachelor’s degree

•     A minimum of three years relevant risk management or insurance experience

•     Healthcare risk management a plus.

•     Strong financial, organizational, and analytical skills

•     Innovative thinker comfortable with ambiguity to complete tasks

•     Ability to work effectively cross-functionally and build/maintain relationships

•     Excellent verbal and written communication skills

•     Ability to work effectively both independently and within a team

•     Strong PC skills (Excel, PowerPoint, Word)


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