Sr. Analyst, Risk Management (Hybrid)

Job Description

Pay Range: $84,000 - $100,000 / year

Salary offers are based on a wide range of factors including relevant skills, training, experience, education, and, where applicable, certifications obtained. Market and organizational factors are also considered. Successful candidates may be eligible to receive annual performance bonus compensation.

Benefits Information:

We are proud to offer best-in-class benefits and programs to support employees and their families in living healthy, happy lives. Our pay and benefit plans have been designed to promote employee health in all respects – physical, financial, and developmental. Depending on whether it is a part-time or full-time position, some of the benefits offered may include:

· Day 1 Medical, supplemental health, dental & vision for FT employees who work 30+ hours

· Best-in-class well-being programs

· Annual, no-cost health assessment program Blueprint for Wellness®

· healthyMINDS mental health program

· Vacation and Health/Flex Time

· 6 Holidays plus 1 "MyDay" off

· FinFit financial coaching and services

· 401(k) pre-tax and/or Roth IRA with company match up to 5% after 12 months of service

· Employee stock purchase plan

· Life and disability insurance, plus buy-up option

· Flexible Spending Accounts

· Annual incentive plans

· Matching gifts program

· Education assistance through MyQuest for Education

· Career advancement

This position has a primary focus on third-party liability claims handling. The senior analyst will be instrumental in managing our liability claims from start to finish, collaborating with internal and external partners to achieve optimal financial outcomes and reduce future losses.

Responsibilities:

Third-Party Liability Claims Handling

• Manage a portfolio of automobile and general liability claims, working closely with insurance carriers, third party administrator (TPAs), insurance brokers, defense counsel, and internal stakeholders.
• Drive claims to the best financial outcome and timely resolution by setting accurate reserves, conducting thorough investigations, reviewing interrogatories, and actively supporting settlement negotiations.
• Lead discussions with insurers and legal counsel on large loss claims, ensuring strategic and effective management.
• Collaborate cross-functionally with Operations and Facilities teams to share claims, loss trends and observations, developing proactive strategies to reduce and mitigate future losses.
• Lead and manage all insurer/ and (TPA) claims audits.
• Review leases and contracts to identify and assess indemnification obligations.

Risk Management Claims Information Systems

• Maintain comprehensive claims loss information, utilizing and optimizing TPA systems.
• Develop and update Standard Operating Procedures (SOPs) for all third-party claims handling processes.
• Generate specialized reports to effectively view, analyze, and evaluate claims data.
• Create innovative tools that provide insightful, real-time information to drive positive behavioral changes.
• Leverage predictive analytics to identify key loss drivers and claims trends, aiming to reduce claims frequency and severity through advanced data analysis and improved claim management techniques.
• Utilize loss data to identify claims with a high likelihood of litigation, enabling a focus on early and efficient settlement strategies.

Renewal Underwriting and Annual Audits

• Prepare detailed loss information to support accurate and comprehensive insurance renewal submissions.
• Provide essential support for annual insurance audits.

Contract Reviews 

• Conduct thorough reviews of insurance contract language for various business units, ensuring conformity with existing insurance programs using Salesforce and Apttus Contract applications.
• Assess contractual risks and skillfully negotiate changes to transfer liability where feasible, engaging in discussions with contracts groups, business units, legal departments, and clients.
• Ensure compliance with all required certificates of insurance.

Qualifications:

• The ideal candidate will have 3-6 years of experience in the insurance industry as a claim professional. 
• Bachelor’s degree in risk management or a business equivalent.
• Strong analytical skills and PC skills (Excel, PowerPoint, Word).
• Innovative thinker comfortable with ambiguity to complete tasks.
• Ability to work effectively both independently and within a team.

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Quest Diagnostics honors our service members and encourages veterans to apply.

While we appreciate and value our staffing partners, we do not accept unsolicited resumes from agencies. Quest will not be responsible for paying agency fees for any individual as to whom an agency has sent an unsolicited resume.

Equal Opportunity Employer: Race/Color/Sex/Sexual Orientation/Gender Identity/Religion/National Origin/Disability/Vets or any other legally protected status.