Become a Risk Management/Insurance Senior Advisor at Edison International (EIX) and build a better tomorrow. In this job, you will analyze and use risk financing methods and tools to reduce risk in line with the Company’s risk tolerance, subject to management approval. As the Subject Matter Expert (SME), the Senior Advisor will prepare a cost/benefit analysis of alternative risk financing and insurance options and provide a recommended approach. The incumbent will have exposure to and learn about Company regulatory filings (e.g., CPUC) and will be responsible for drafting portions of the filings. Partners with external advisors and with key Edison contractors who have significant wildfire and other exposures to manage risk for the Company and its contractors. The position entails working regularly with other areas of the Company on risk-related issues.
As a Senior Advisor, your work will help power our planet, reduce carbon emissions and create cleaner air for everyone. Are you ready to take on the challenge to help us build the future?
A day in the life - Get ready to think big, work smart and shine bright!
Evaluating and implementing risk financing programs to address the Company’s exposure to risk, particularly the risk of damage to Company facilities and the risk of third-party liability. This will include evaluating the extent of the exposure, and implementing programs to fund the exposure. The risk financing alternatives to be evaluated include insurance (including general liability, wildfire liability, property, directors and officers, cyber, etc.), capital markets transactions such as catastrophe bonds, structured financial products, and pre-funding risk exposure through an ongoing accumulation of funds.
Evaluate the economics of customer funded self-insurance for specific portions of the Company’s wildfire risk exposure, using the results of risk modeling, market conditions and other factors. Identify the most attractive opportunities based on expected cost savings and the range of uncertainty around potential losses and prepare recommendations for management review. Draft testimony for regulatory filings based on a thorough understanding and assessment of the customer funded self-insurance opportunities selected.
Developing a new approach/program to address key Company contractors who have significant exposure and cost related to specific risks. Work with modelers and actuaries to develop the proposed parameters of the program and establish ongoing funding needs, and lead the implementation from the Risk Management side.
Advancing the Company’s efforts to improve the effectiveness of loss control activities as they relate to the risk of breakdown, failure, or damage to Company facilities and the risk of potential injuries or property damage to third parties. This will entail working with external loss control advisors to ensure that Company facilities are evaluated on a regular basis and that loss control recommendations are implemented and any exceptions are documented for further review.
Collaborate with internal Company public safety staff, Transmission & Distribution, Corporate Real Estate, Hydro Generation, and other groups involved with safety and loss control to identify trends and develop recommendations to improve the Company’s safety and loss control performance.
Overseeing the owner controlled insurance program (OCIP) or related programs, including design, driving financial and safety benefits, and identifying contracts for possible inclusion. Review and evaluate new contracts for civil, line construction, and vegetation management as potential OCIP opportunities. Conduct a financial and safety impact evaluation to determine which projects are attractive for an OCIP.
10 or more years of work experience in risk management in a corporate environment or at a property/casualty brokerage firm
Basic accounting knowledge, including understanding financial statements
Familiarity with interpreting statistical simulation results and ability to explain them
Strong knowledge of technical and practical aspects of risk management and corporate insurance
Strong written communication skills, including the ability to explain financial issues clearly
Reliable, Affordable and Clean Power for Southern CaliforniaElectricity powers our homes, our businesses and our communities. We’ve delivered it to Southern and Central California for more than 135 years. As one of the nation’s largest electric utilities, we’re committed to safely delivering affordable and reliable electricity today and for the future...