Job Information
Southern California Edison Risk Management/ Insurance, Senior Advisor [HYBRID] in Rosemead, California
Job Description
Join the Clean Energy Revolution
Become a Risk Management/ Insurance, Senior Advisor at Edison International (EIX) and build a better tomorrow. In this job, you will analyze and use risk financing methods and tools to reduce risk in line with the Company’s risk tolerance, subject to management approval. As the Subject Matter Expert (SME), the Senior Advisor will prepare a cost/benefit analysis of alternative risk financing and insurance options and provide a recommended approach. The incumbent will have exposure to and learn about Company regulatory filings (e.g., CPUC) and will be responsible for drafting portions of the filings. Partners with external advisors and with key Edison contractors who have significant wildfire and other exposures to manage risk for the Company and its contractors. The position entails working regularly with other areas of the Company on risk-related issues. The position will also work closely with Edison’s two captive insurance companies.
As a Risk Management/ Insurance, Senior Advisor , your work will help power our planet, reduce carbon emissions and create cleaner air for everyone. Are you ready to take on the challenge to help us build the future.
A day in the life - Get ready to think big, work smart and shine bright!
Evaluating and implementing insurance and risk financing programs to address the Company’s exposure to risk, particularly the risk of damage to Company facilities and the risk of third-party liability. This will include evaluating the extent of the exposure, and implementing programs to address the exposure. The risk financing alternatives to be evaluated include insurance (including general liability, wildfire liability, property, directors and officers, cyber, etc.), capital markets transactions such as catastrophe bonds, structured financial products, and pre-funding risk exposure through an ongoing accumulation of funds.
Evaluate the economics of customer funded self-insurance for specific portions of the Company’s risk exposure, using the results of risk modeling, market conditions and other factors. Identify the most attractive opportunities based on expected cost savings and the range of uncertainty around potential losses and prepare recommendations for management review. Support a program of customer funded self-insurance, through the Company’s two captive insurance companies and otherwise, for a portion of the Company’s risk exposure, with an initial emphasis on wildfire but also potentially other lines of coverage including General Liability.
Evaluating and advising on appropriate contractual terms with third-parties regarding insurance coverage and insurance-related contractual provisions. Support key Company stakeholders to develop and sustain processes that assure efficient negotiations pertaining to such insurance-related contractual provisions. Advancing the Company’s efforts to reduce the cost of loss. This will entail supporting trend analysis, modeling and related efforts in support of insurance renewals.
Support oversight of the Owner-Controlled Insurance Program (OCIP) or related programs, including design, driving financial and safety benefits, and identifying contracts for possible inclusion. Engage modelers and actuaries to assess parameters of the program and establish ongoing funding needs. Review and evaluate new contracts for civil, line construction, and vegetation management as potential OCIP opportunities. Conduct a financial and safety impact evaluation to determine which projects are attractive for an OCIP.
The essentials
Ten (10) or more years of experience in risk management, or ten (10) or more years of experience in either finance or legal (in a field relevant to risk finance and/or risk management.
Experience and knowledge of basic accounting, including understanding financial statements.
Experience and familiarity with interpreting statistical simulation results, and ability to explain them.
Experience and strong knowledge of technical and practical aspects of risk management and corporate insurance.
Strong written communication skills, including the ability to explain financial issues clearly.
The preferred
Bachelor’s degree or higher in risk management, engineering, finance, or related field.
Five (5) or more years of experience working with a property/ casualty brokerage firm, claims, third-party administrator, underwriter or similar.
Experience with managing a corporate captive insurance company.
Experience with contractual review of insurance-related contractual provisions.
Understanding of risk modeling.
Experience and proficiency with SAP accounting system.
Ability to lead an interdisciplinary and cross-functional team on significant and challenging projects.
You should know
This position’s work mode is hybrid . The employee will report to an SCE facility for a set number of days with the option to work remotely on the remaining days. Unless otherwise noted, employees are required to reside in the state of California. Further details of this work mode will be discussed at the interview stage.
Visit our Candidate Resources (https\://www.edisoncareers.com/page/show/candidate-resources) page to get important information related to benefits/perks, testing, candidate tips, hiring process, and more!
Relocation does not apply to this position.
Candidates for this position must be legally authorized to work directly as employees for any employer in the United States without visa sponsorship.
About Southern California Edison
The people at SCE don’t just keep the lights on. Our mission is so much bigger. We’re fueling the kind of innovation that’s changing an entire industry, and quite possibly the planet. Join us and create a future with cleaner energy, while providing our customers with the safety and reliability they demand. At SCE, you’ll have a chance to grow personally and professionally, making a real impact in Southern California and around the world.
At SCE, we celebrate our differences. We are a proud Equal Opportunity Employer and will not discriminate based on race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, protected veteran status or any other protected status.
We are committed to ensuring that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodations at (833) 343-0727.