Overview:

The Operational Insurance Specialist provides operational and administrative support for the Bank’s insurance program. This role assists with insurance procurement activities, policy renewals, contract tracking, loss data reporting, and insurance-related invoice processing. The position supports the insurance team by coordinating documentation, maintaining accurate records, and ensuring timely execution of insurance-related financial and administrative activities.

Primary Responsibilities:

• Assist the insurance team in collecting, organizing, and validating information required to support the insurance procurement and renewal process.
• Coordinate and track insurance policy renewals, contracts, and related documentation associated with the Bank’s insurance program.
• Maintain organized records of insurance policies, endorsements, certificates, contracts, and renewal calendars in accordance with internal standards.
• Support the administration and tracking of contracts related to insured and uninsured exposures across the Bank.
• Report loss data for insurance programs as required to support internal reporting, carrier submissions, and renewal processes.
• Process and coordinate payment of insurance-related invoices, including:
  • General insurance invoices
  • Insurance premiums
  • Loss cost and claim-related expense invoices
• Monitor invoice accuracy and ensure timely submission and payment in accordance with Finance procedures.
• Serve as an operational point of contact for internal stakeholders regarding insurance documentation, renewal timing, loss reporting, and invoice status.
• Assist with process improvements related to insurance administration, documentation consistency, and workflow efficiency.
• Provide general operational and administrative support to the insurance team as needed.

Supervisory/ Managerial Responsibilities:

No direct management but may provide guidance to analysts

Education and Experience Required:

Bachelor’s degree and five years' experience in Financial Lines and Professional Lines insurance.

Prior experience as an Account Manager or Account Executive in or or more of the following settings:

• Insurance Brokerage Firm
• Insurarance Carrier