Sr Analyst, Risk Management

Unclassified - Houston, TX

Full-time

Houston, TX

11-50 employees

About the position

Transocean is seeking a dedicated professional to provide support for the placement and administration of the Company's global Hull and Machinery, P&I/Excess Liability, and Director's and Officer's insurance programs, along with required local insurance programs. This role involves updating and tracking insurance policy endorsements and necessary documentation related to the Company's commercial market and captive insurance policies. The successful candidate will coordinate insurance certificates, including ordering supporting insurance certificates that may be required of the Company and reviewing incoming certificates from outside vendors to ensure compliance with contractual requirements, approving them within the Supply Chain's vendor setup process. In addition, the role includes providing support for handling any property damage claims, which involves working closely with operations, third-party claim adjusters, and insurance underwriters. The candidate will be responsible for coordinating, tracking, and collecting any insurance recoveries that exceed deductibles or self-insured retentions. Furthermore, the position supports the management of the Company's captive insurance program and assists in coordinating tasks for the Company's Enterprise Risk Management (ERM) program. This includes reviewing drilling contracts and vendor agreements for appropriate risk allocations and monitoring the Company's insurance policy terms and conditions with brokers and underwriters to ensure that the Company maintains its desired level of insurance coverage. The candidate will liaise with the accounting group to ensure timely recording and reporting of changes to the insurance coverages and interact with insurance brokers and underwriters as needed for insurance renewals, claim reimbursements, and day-to-day administration. Additional responsibilities include assisting the Senior Claims Manager with various P&I crew injury claim tasks, responding to insurance questions within and outside of the organization, and supporting the tracking and placement of surety bonds and COFRS across the organization. Other projects may be assigned as needed.

Responsibilities

• Provide support for the placement and administration of Company's global Hull and Machinery, P&I/Excess Liability and Director's and Officer's insurance programs.
• Update and track insurance policy endorsements to the Company's commercial market and captive insurance policies.
• Support the Enterprise Risk Management program across the organization, including internal meetings and presentations to Executive Management.
• Assist in handling crew injury claims.
• Track insurance claim documentation to be submitted to insurance underwriters and other third parties for reimbursement.
• Liaise with necessary departments to place and maintain surety bond placements and COFRS across the organization.
• Conduct contract review and insurance certificate review activities.
• Assist in various projects as assigned or created.

Requirements

• Bachelor's Degree in Finance or a related field is required.
• 5+ years of experience in risk-related positions is required.
• Superior communication skills with various internal and external parties are essential.
• Basic understanding of insurance practices in the offshore energy industry is required.
• Ability to learn industry standard offshore contractual risk allocation is necessary.
• Proficiency with Microsoft Office Suite is required.

Nice-to-haves

• ARM or CPCU designation is preferred.
• 5+ years' experience in a corporate insurance department or insurance broker is desirable.
• Knowledge of insurance practices in the offshore energy industry is a plus.
• Understanding of contractual risk allocation practices is beneficial.