Claims and Risk Management Executive (Supply Chain / Freight)

Job Description

Benefits: Basic Salary: Up to $5500 2 months VB + AWS + Other Bonuses Monday - Friday Good Career Opportunity for Progression Company Location: Pioneer Road The Senior Executive – Insurance and Risk Management is responsible for proactively managing the organization's insurance portfolio and supporting the development and implementation of comprehensive risk management strategies and programs. This role involves identifying potential risks and ensuring the effective execution of risk mitigation plans. The individual will collaborate with internal stakeholders and external partners, including insurance brokers and legal teams, to secure optimal insurance coverage and minimize financial risks. Additionally, the role supports senior leadership in risk assessment activities, manages the claims process, and contributes to the preparation of risk management reports for strategic decision-making. Job Scope: Insurance Program Management: Support the management of the organization's insurance portfolio, including the procurement and administration of insurance policies. Stay updated with regulatory changes and adjust insurance coverage or risk practices accordingly. Ensure insurance coverage is adequate and relevant to organizational needs. Conduct periodic reviews of insurance policies to ensure alignment with the organization's risk profile. Liaise with brokers, underwriters, and legal teams to negotiate insurance terms and premiums. Collaborate with brokers to perform detailed risk evaluations and customize insurance plans. Monitor insurance budgets and track premium costs, claim payouts, and potential future liabilities. Support forecasting and financial analysis related to insurance and risk management. Assist in developing cost-saving strategies in insurance premium negotiations. Claims Management: Manage the end-to-end process of insurance claims, including submission and liaising with insurers to ensure prompt settlement. Review and analyze claims to identify trends and recommend actions to minimize future claims. Ensure all claims are properly documented, and follow-ups with insurers are conducted in a timely manner. Prepare risk management reports, including risk exposure, insurance coverage, and claims performance for senior management. Conduct internal audits of risk management processes and insurance policies to ensure full statutory compliance. Risk Assessment and Management: Collaborate with business units to identify potential risks and conduct comprehensive risk assessments across the organization. Support the development of risk mitigation strategies and monitor their effectiveness. Collaborate with internal and external stakeholders to implement appropriate insurance solutions to cover identified risks. Perform risk reviews of contracts, new business scopes, and major projects. Support the development and revision of risk management policies and procedures to ensure alignment with industry regulations and requirements. Prepare regular reports on risk exposure, insurance coverage, and claims analysis for senior management. Training and Awareness: Conduct workshops and develop educational materials to enhance organizational awareness of insurance and risk management practices, ensuring compliance. Stakeholder Management: Maintain relationships with internal stakeholders to align insurance and risk management with organizational goals. Serve as a point of contact for insurance inquiries and support stakeholders in risk management processes. Crisis Management: Coordinate crisis response efforts by collaborating with stakeholders and establishing communication channels for real-time updates and decision-making. Requirements: Diploma or Bachelor’s degree in Business Administration, Finance, Accountancy, Risk Management, or a related field. 3–5 years of experience in insurance, risk management, or related fields is required. Experience within the supply chain industry or in a corporate risk management role is preferred. Knowledge of Singapore’s regulatory environment and industry best practices. Understanding of various insurance products (General and Finance Lines) and their application in mitigating supply chain risks. Detail-oriented, resourceful, and adaptable to changing environments, with a focus on thorough risk assessments and compliance with regulations. Proficient in the use of MS Office Applications and Microsoft Power Platform Applications. Professional certifications in risk management or insurance (e.g., ARM, CPCU) are an advantage. Please submit your updated resume in MS Word format by clicking the QUICK APPLY button. We regret to inform that only shortlisted candidates will be notified. #J-18808-Ljbffr