The Risk Finance Specialist’s main responsibility is to ensure that the risk exposures of the company are properly managed through appropriate risk financing programs which include but not limited to insurance program and/or self-insurance initiatives.
He/she will assist in establishing and maintaining a collaborative partnership with Food Group Business Units (BU) and the AEV Risk Management Team in implementing existing and future risk finance initiatives.
Risk Finance Management Duties
- Gathers and consolidates the documents and values for insurance renewal submitted at least 30 days prior to expiration of existing policy.
- Coordinates with accounting and other departments to determine the updated list of assets with corresponding sum insured values.
- Maintains insurance registry requirement through regular property appraisal and monthly monitoring of acquisition and disposal of assets.
- Liaises and assists internal and external Risk Surveyors, asset valuation surveyors and appraisers.
- Assists the Risk Manager in securing proposals from accredited suppliers for insurance coverage in coordination with AEV Risk Finance team.
- Monitors and maintains that approved insurance policies are incepted, implemented and paid in a timely manner.
- Monitors and maintains risk engineering survey files to ensure that they are updated regularly by the relevant stakeholders.
- Assists the Risk Manager on the conduct of insurance briefings to relevant stakeholders at the sites to ensure understanding of the approved insurance policy.
- Secures and maintains the necessary information for the preparation of risk management reports including but not limited to the following:
- Status of insurance claims
- Motor car insurance claims
- Insurable risk maps
- Risk engineering progress reports
- Total cost of insurable risk
- Assists the Risk Manager in providing the necessary insurance support, education, and training to the Food Group Management and Staff.
- Keeps abreast with new developments and advances on the enterprise risk management industry practices, quality and environmental management technology through magazines/periodicals, and attendance to relevant seminars and conferences.
Insurance Claims Management Duties
- Coordinates with relevant stakeholders at the sites to ensure that all incidents are reported immediately.
- Monitors and follows up all requirements and information needed to support claims are submitted to the insurance providers within the prescriptive period.
- Monitors and follows up that the claims settlement is collected as soon as claim evaluation is done and finalized according to policy terms and conditions.
- Assists the Risk Manager on the consistent implementation of established incident reporting and insurance claims process and methodologies.
Others:
- Actively participate in all company programs and activities under quality improvement, safety & security, sustainability, corporate social responsibility, risk management etc.
- Performs other tasks related to the job as may be assigned by the immediate superior.
- Checks and updates the documentation of risk finance policies, procedures and standard operating procedures in line with the Food Group’s standard documentation system.
- Oversees and manages logistics and administrative requirements of risk finance activities such as, but not limited to the following:
- Appraisal activities
- Risk engineering surveys
- Asset valuation surveys
- Insurance briefing and orientations
- Performs other tasks as maybe assigned from time to time from other risk management programs such as but not limited to the following:
- Enterprise Risk Management
- Business Continuity Management
- Information Security Management
- Appointed membership to committees whenever necessary.
- Participates in current and futures business initiatives such as Partners in Leadership, Risk Management, CRM, Comrel, IBP, Safety, ISO, Branding, ISMS, etc.
