Regional Insurance Risk Manger Imea

2 months ago

Bengaluru, India Hitachi Energy India Limited Full time

Location:
Bangalore, Karnataka, India

Job ID:
R0018703

Date Posted:
2023-04-17

Company Name:
Hitachi Energy India Limited

Profession (Job Category):
General Management

Job Schedule:
Full time

Remote:
No

**Job Description**:

- The Insurance Risk Manager shall be responsible for the efficient management of the insurance risk management function for Hitachi Energy in India and its cluster countries. Assignment includes responsibility for all local Hitachi Energy reporting units, including subsidiaries, affiliated and joint venture companies, if any and support Country Treasurers / respective global or local Work Stream, Broker and Head of Insurance Risk management.
- Your responsibilities
- Review and monitor insurance needs in the countries by establishing key contact persons in the Business and/or Finance and ensuring the country requirements are properly covered. An insurance contact person in Hitachi Energy needs to be assigned for every country with a Hitachi Energy legal entity.
- GF- Directives and Instructions: Ensure adherence to the global Directives & Instructions. Local insurance purchases need to fulfill the global requirements (e.g. selection of reputable and creditworthy local insurers). Ensure compliance with all compulsory insurance requirements locally
- Actively support the Business (local Divisions, BU’s, etc.) and the Legal Department with tenders and Risk Review-process
- Risk Control: Integrate or align the local risk control efforts with those of the Hitachi Energy Group worldwide through active liaison with GF-GTI. Coordinate or be part of the local team that leads risk control activities including coordination of e.g. Property Risk Engineering surveys, Transport Risk Control workshops, Business Continuity Plan (training, monitoring and testing)
- Premium distribution: Design and implement together with GF and the Broker systems for the distribution of insurance premiums in a manner which provides financial incentives to better control risk. Distribute budget advices to the local organization annually
- Trainings: Prepare and conduct insurance risk management seminars with the local business organization and other local Group Functions

M&A support: provide input on insurance risks in M&A due diligence work

Department administration: manage departmental operating budget, maintain local manuals that are in addition to GF’s manual

Support countries with premium payment process.

Complete execution of placement and servicing of global marine policy.

Responsible for establishment and active management of insurance broker(s) in all countries in your region Develop and implement procedures manual for brokers in each country

Establish a process to ensure compliance of contractual clauses with the Broker and with the Legal function

Local policy placement and renewals with the Broker, coverage adequacy, premium and tax payments (including taxation of any local or global insurance program) and distributions, acquisitions/divestments

Direct brokers in each country to establish necessary local insurance programs

Direct brokers in each country to establish necessary self-insurance funds/accounts in cooperation with the business (where needed)

Establish contracts with third party administrators for claim management (as necessary in each country) Establish roles, responsibilities, authority for claim management and settlements

Support critical cases of incidents and claims management in the various countries. Initiate issuance of specific insurance certificates.

Your background
- The Insurance Risk Manager shall be responsible for the efficient management of the insurance risk management function for Hitachi Energy in India and its cluster countries. Assignment includes responsibility for all local Hitachi Energy reporting units, including subsidiaries, affiliated and joint venture companies, if any and support Country Treasurers / respective global or local Work Stream, Broker and Head of Insurance Risk management.
- Your responsibilities
- Review and monitor insurance needs in the countries by establishing key contact persons in the Business and/or Finance and ensuring the country requirements are properly covered. An insurance contact person in Hitachi Energy needs to be assigned for every country with a Hitachi Energy legal entity.
- GF- Directives and Instructions: Ensure adherence to the global Directives & Instructions. Local insurance purchases need to fulfill the global requirements (e.g. selection of reputable and creditworthy local insurers). Ensure compliance with all compulsory insurance requirements locally
- Actively support the Business (local Divisions, BU’s, etc.) and the Legal Department with tenders and Risk Review-process
- Risk Control: Integrate or align the local risk control efforts with those of the Hitachi Energy Group worldwide through active liaison with GF-GTI. Coordinate or be part of the local team that leads risk control activities including co

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