Analyst, Corporate Risk & Insurance

Job Summary

For over thirty years, Masimo has been expanding the boundaries of noninvasive monitoring to improve patient outcomes and reduce the cost of care. Today, Masimo delivers a portfolio of hospital-trusted monitoring solutions to help increase patient safety, health, and wellness in the hospital and at home. When you join our team, you will be part of a culture that is driven by passion, challenging the status quo, and making an impact in the lives of others.

We are looking for a Corporate Risk & Insurance Analyst to support our Global Treasury & Risk Management operations. This is a position located in Irvine (Orange County) California.

 

Reporting Relationships

This position reports to the Director of Treasury & Risk Management.

 

Responsibilities

  • Multi-Line Global Programs: Responsible for the administration of the company's global P&C and D&O insurance programs, including the negotiation and renewal. Identifies potential risk exposures, recommends solutions, implements approved programs, promotes loss prevention, and monitors compliance. Provides research and analytical support to optimize protection of Masimo’s balance sheet.
  • Insurance Renewal: Leads an efficient and effective process for collecting, analyzing, and reporting renewal (and audit) information. Reviews insurance binders and policies for accuracy. Prepares insurance budget, premium invoicing payment and allocation.
  • Business Partnering: Interacts with various teams across the company, including Legal/Contracts, Human Resources, Facilities, Clinical, Sales, Accounting and Tax. Builds strong partnerships with business units to identify trends, and to incorporate feedback into the structure of the company's global insurance programs. Develops and implements best practices related to risk management. Responds to inquiries from internal and external parties as well as from carrier and vendor partners. Advises on day-to-day issues and concerns involving insurance coverages, claims, certificates of insurance and policies.
  • Contracts: Reviews lease, customer and vendor contracts to ensure appropriate insurance coverage and limitation of liability terms.
  • Certificates of Insurance: Coordinates requests for certificates of insurance (COIs) based on contractual requirements.  Ensures updated COIs are provided to credentialing partners and certificate holders in connection with policy renewals. Reviews incoming certificates of insurance.
  • Loss Control: Coordinates loss control visits by insurance company and broker personnel with local facilities.  Communicate and follow-up on loss control recommendations as required.
  • Claims Management: Responsible for directing the company's global claim processes. Creates reports and processes for monitoring and benchmarking of claim activity to Senior Management. Leads regular claims, reserves, and reviews to evaluate the company's current and future exposure to claims and losses. Provides timely notification of claims to insurance carriers. Manages all phases of the claims process from intake and investigation through settlement, participating in negotiations, conferences and mediations with adjusting companies, legal counsel, and other involved parties.
  • M&A Support: Conducts due diligence for mergers & acquisitions, including review of existing coverages and adequacy of coverages, underwriting data, claims history, specialty coverages, etc.
  • Assists with treasury and insurance related tasks and projects as assigned.

 

Education

Bachelor’s degree in Risk Management, Finance, Business Administration or related fields.

Risk Management/Insurance certifications preferred: ARM, CPCU, CRM, CIC, or equivalent.

 

Desired Skills and Experience

  • 3+ years of commercial insurance experience.
  • Knowledge of risk management (P&C, Cyber, D&O), claims, security and safety, and business continuity.
  • Proficient in Microsoft Office Suite.
  • Advanced knowledge of Microsoft Excel, and dashboards.
  • Excellent verbal, written and interpersonal communication skills; ability to deal effectively with staff, management, and financial institutions.
  • High level of commitment to quality work product and organizational ethics, integrity, and compliance.
  • Superior organization skills and attention to detail.
  • Ability to multi-task in a fast-paced environment.
  • Curiosity to learn the business, improve processes and strive for excellence.

 

Physical requirements/Work Environment

This position primarily works in an office environment. It requires frequent sitting, standing and walking.  Daily use of a computer is required.

The physical demands of the position described herein are essential functions of the job and employees must be able to successfully perform these tasks for extended periods.  Reasonable accommodations may be made for those individuals with real or perceived disabilities to perform the essential functions of the job described.

Masimo is proud to be an EOE/, M/F/D/V, and we are committed to Diversity at every level.

 

Benefits

Masimo offers a competitive salary commensurate with experience and qualifications; Bonus Opportunity (based on Company and Individual Performance); 401(k); Medical; Dental; Vision; Health Savings and Flexible Spending Accounts; Life Insurance; Paid Time Off.

Want to learn more about our culture & opportunities? Check out https://www.masimo.com/company/opportunities/careers/ and be sure to follow us on LinkedIn!