Risk Manager (Insurance)

Job Description

Position Summary:

Manage the delivery of risk management services to Siemens Industry, Inc.(“SII”) and U.S.-based business units of Siemens Industry, Inc. and affiliated Siemens companies, including support and coordination with Siemens Capital Company’s insurance (“CF INS”) and US Siemens Financial Services Insurance department (“SFS”), designated insurance brokers and insurance providers.

Essential Job Functions:

  • Provide dedicated risk management support to Siemens Industry, Inc. and U.S.-based business units and assisting other Siemens affiliates on an as-needed basis within the US.
  • Coordinate with insurance brokers to obtain assistance with insurance solutions for project-specific exposures and specialty/non-standard lines of insurance, and to coordinate with SFS to provide projected insurance costs for inclusion into contract cost.
  • Coordinate with insurance brokers and providers to obtain appropriate Certificates of Insurance.
  • Identify, analyze and measure the impact of loss exposures deriving from contracts to which SII is a party, or which SII has any risk exposure related to insurance coverage.
  • Draft and negotiate acceptable contract provisions pertinent to the Insurance loss exposures.
  • Support Legal in mitigating exposures created by indemnities in SII agreements or additional insured status of others under Siemens liability insurance programs.
  • Support Legal with project and performance bonds.
  • Property/Auto and General Liability, etc. Claims:
    • provide support to Legal in connection with the identification of insurable losses; coverage analysis and case evaluation to permit maximum recovery of claims or payment by insurers on behalf of SII.
    • provide notice of loss to insurance providers, CF INS and SFS.
    • serve as primary contact between SII and Insurance company representatives for claims handling,
    • collect data from applicable SEI business unit to support loss recovery,
    • interface with insurance company representatives for claims handling,
    • collect data from applicable SII business units or affiliated business unit to support loss recovery,
    • lead/track and coordinate all negotiations, including settlement with insurers or their representatives and collecting insured amounts.
    • Support Legal in connection the applicable business unit or affiliated Siemens company in collecting as additional insureds under insurance programs maintained by others.
    • Maintain necessary claims reporting system to permit tracking of claim from filing to conclusion.
    • provide support to Legal in connection with the identification of insurable losses, coverage analysis and case evaluation to permit maximum recovery of claims or payment by insurers on behalf of Siemens Energy, Inc.
    • serve as primary contact between SII and Insurance company representatives for claims handling,
  • Allocation process: support Siemens Industry, Inc. finance department by reviewing allocated costs for accuracy and appropriateness.
  • Negotiate insurance policy terms where required and/or provide input to CF INS or SFS on insurance policy terms.
  • Review and negotiate customer insurance policy terms where required and/or provide input to CF INS or SFS on insurance policy terms.
  • Provide support for to SII in M&A and corporate restructuring activities to ensure proper and continuous mitigation of SII’s risk exposures.
  • Product technology or Project insurability:
    • be familiar with insurer concerns and coverage requirements, including applicable insurability requirements, exclusions, and technical concerns of insurers.
    • Work with Commercial Sales and Marketing to inform insurers about SII products/projects, including new products/projects, and manage endeavors to minimize insurers’ reluctance to ensure Siemens Industry, Inc. products/projects in difficult cases or to create alternative risk reapportionment methods.

Qualifications/Job Requirements:

  • College degree (Bachelor’s)
  • At least five (5) years of experience in a corporate risk management department, major broker or insurer or;
  • Either (a) a law degree with two (2) years experience in contract management, insurance project implementation or claims administration, or (b) an MBA with four (4) years experience in contract management.
  • Strong negotiation skills and ability to collaborate with various internal and external stakeholders.
  • Proficient technical skills in MS Office Suite.
  • Ability to travel 15 to 20% (domestic).

#LI-JT1

Job ID: 190764

Organization: Legal and Compliance

Company: Siemens Corporation

Experience Level: Experienced Professional

Job Type: Full-time



Equal Employment Opportunity Statement
Siemens is an Equal Opportunity and Affirmative Action Employer encouraging diversity in the workplace. All qualified applicants will receive consideration for employment without regard to their race, color, creed, religion, national origin, citizenship status, ancestry, sex, age, physical or mental disability, marital status, family responsibilities, pregnancy, genetic information, sexual orientation, gender expression, gender identity, transgender, sex stereotyping, protected veteran or military status, and other categories protected by federal, state or local law.

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Applicants and employees are protected under Federal law from discrimination. To learn more, Click here.

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Siemens follows Executive Order 11246, including the Pay Transparency Nondiscrimination Provision. To learn more, Click here.

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