Risk Analyst III

#WeAreONEOK - Fortune 500 company. 100+ years in business. Leading midstream service provider. Safety first. Sustainable operations. Environmentally responsible. Employee focused.

JOB SUMMARY

Manages moderately complex and complex claims including first- and third-party claims, insured litigated matters, environmental claims, and large ONEOK property subrogation claims, as needed. Manages the entire process including investigation, evaluation, negotiation and settlement of claims while working with insurance adjusters, internal and external counsel, ONEOK customers and other ONEOK employees.

The position will include, but not be limited to :

Coordinating the management of litigated claims with the legal department and assisting internal and external counsel with case preparation.

Attends claim mediations when necessary.

Review and approve third party administrator claim handling fees.

Job Profile Summary

Performs senior level functions for the corporate risk and insurance program including negotiations of insurance coverage.

Essential Functions and Responsibilities may include some or all of the following :

Manages moderately complex claims including first- and third-party claims, insured litigated matters, environmental claims, and large ONEOK property subrogation claims, as needed. Manages the entire process including investigation, evaluation, negotiation and settlement of claims while working with insurance adjusters, internal and external counsel, ONEOK customers and other ONEOK employees.

Develop processes, analyze and make recommendations the following functions :

Identification, measurement, and analysis of all exposures to financial loss

Research, study, and make recommendation on methods of funding risks

Determine insurable values

Evaluate insurance agents and brokers

Evaluate optimal loss-retention levels

Support Manager in evaluating proper risk acceptance, avoidance, or transfer.

Communicate with claim groups / legal to insure proper information and documentation is provided as it relates to the settlement of claims involving the property and casualty insurance program

Directs and prepares information, instruction and related to risk activities to insurance manager, insurance broker, and legal department

Provide support to Manager in calculating, compiling, preparing, analyzing, and / or making recommendation on information and reports including but not limited to risk and insurance statistics, budgets and trends analysis / survey data

Recommends and develops risk management policies and procedures to reduce risk, either by acceptance or transference

Analyze requested exceptions to establish limits / coverage parameters for Certificates of Insurance issued to customer base or received from contractors or outside vendors

Reviews policy language to confirm negotiated coverage and timely policy issuance by insurance carriers and to ensure policy language provides the coverage appropriate to the exposures of the company. Negotiate new and renewal terms and conditions with insurance brokers / underwriters

Provide support in other duties including analysis of risk management programs (ERM)

Assumes responsibility for the oversight, training, mentoring of Risk Analyst I and II

Prepare presentations for all levels of management including senior management

Research as directed by Manager feasible studies relating to captives, and other alternative methods of risk transference

Education

• Bachelor's Degree in business, finance, other related field with previous experience performing risk management functions, or an equivalent combination of formal education and the following job-related experience (minimum 10 years insurance industry related) :

Work Experience

5+ years experience handling or managing litigated and non-litigated claims

Experience in a risk and insurance department or an insurance brokerage firm or as an underwriter

Experience in reading and interpreting insurance policies and contracts

Experience in the use of office equipment and software programs including but not limited to Excel, Word and Power Point

Experience researching, composing, and preparing, budgets, reports, and correspondence

Experience reading and interpreting third party service contracts, governmental regulations and statutes, insurance applications, manuals and professional and trade journals

Experience developing information and conducting formal presentations

Knowledge, Skills and Abilities

Knowledge of : property and casualty insurance policies

Ability to : apply math and statistical computations

Ability to : formulate response to audits involving various property and casualty insurance policies

Ability to : communicate with all levels of management, staff and employees

Ability to : conduct oral presentations as required

Licenses and Certifications

Charter Property and Casualty Underwriter (CPCU) preferred

Associate in Risk Management (ARM) preferred

Certified Insurance Counselor (CIC) preferred

Strength Factor Rating - Physical Demands / Requirements

Strength Factor Description - Physical Demands / Requirements

Standing : Remaining on one's feet in an upright position at a work station without moving about (Occasionally)

Walking : Moving about on foot (Frequently)

Sitting : Remaining in a seated position (Constantly)

Lifting : Raising or lowering an object from one level to another (includes upward pulling) (Occasionally)

Carrying : Transporting an object, usually holding it in the hands or arms, or on the shoulder (Occasionally)

Pushing : Exerting force upon an object so that the object moves away from the force (Occasionally)

Pulling : Exerting force upon an object so that the object moves toward the force (includes jerking) (Occasionally)

Climbing : Ladders, Stairs (Occasionally)

Balancing : Maintaining body equilibrium to prevent falling (Occasionally)

Stooping : Bending the body downward and forward by bending the spine at the waist (Occasionally)

Kneeling : Bending the legs at the knees to come to rest on the knee or knees (Occasionally)

Crouching : Bending the body downward and forward by bending the legs and spine (Occasionally)

Crawling : Moving about on the hands and arms in any direction (Occasionally)

Reaching : Extending hands and arms in any direction (Constantly)

Handling : Seizing, holding, grasping, turning or otherwise working with the hand or hands (Manual Dexterity) (Constantly)

Fingering : Picking, pinching or otherwise working with the fingers primarily (Finger Dexterity) (Constantly)

Feeling : Perceiving such attributes of objects / materials as size, shape, temperature, texture, movement or pulsation by receptors in the skin, particularly those of the finger tips (Constantly)

Talking : Expressing or exchanging ideas / information by means of the spoken word (Frequently)

Hearing : Perceiving the nature of sound by the ear (Frequently)

Tasting / Smelling : (Occasionally)

Near Vision : Clarity of vision at 20 inches or less (Constantly)

Far Vision : Clarity of vision at 20 feet for more (Frequently)

Depth Perception : Three-dimensional vision; ability to judge distances and spatial relationships so as to see objects where and as they actually are (Frequently)

Vision : Color - The ability to identify and distinguish colors (Constantly)

Working Conditions / Environment

Working Conditions

Well lighted, climate controlled areas (Constantly)

Frequent repetitive motion (Constantly)

CRT (Computer Monitor(s)) (Constantly)

Travel

Driving

ONEOK is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, sex, pregnancy, sexual orientation, age, religion, creed, national origin, gender identity, disability, military / veteran status, genetic information or any other categories protected by applicable law.

The job description is not intended to be a complete list of all responsibilities, duties or skills required for the job and is subject to review and change at any time, with or without notice, in accordance with the needs of ONEOK.

ONEOK is committed to making our workplace accessible to individuals with disabilities and will provide reasonable accommodations, upon request, for individuals to participate in the application and hiring process. To request an accommodation email HRSolutions@ONEOK.com or call 1-855-663-6547?.

Expected Salary Range

$106,000.00 - $160,000.00

At ONEOK (NYSE : OKE), we deliver energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation, storage and marine export services. Through our approximately 60,000-mile pipeline network, we transport the natural gas, natural gas liquids (NGLs), refined products and crude oil that help meet domestic and international energy demand, contribute to energy security and provide safe, reliable and responsible energy solutions needed today and into the future. As one of the largest integrated energy infrastructure companies in North America, ONEOK is delivering energy that makes a difference in the lives of people in the U.S. and around the world.