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Southern California Edison Risk Management/Insurance Senior Advisor [HYBRID] in Rosemead, California

Job Description

Join the Clean Energy Revolution

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.

Qualifications

The essentials

  • 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

The preferred

  • Bachelor’s degree in risk management, engineering, finance, or related field

  • Five or more years with a property/casualty brokerage firm

  • Experience running an OCIP

  • Experience with managing a corporate captive insurance company

  • Experience as an active participant in a catastrophe bond transaction

  • Experience with risk engineering or loss control

  • Understanding of risk modeling

  • Proficient with SAP accounting system

  • Ability to lead an interdisciplinary and cross-functional team on a significant and challenging project

You should know …

  • Work Mode: When a return-to-office date has been determined, this position’s work mode is hybrid . The employee will report to an SCE facility for a set number of days with the option to work remotely on the remaining days. Unless otherwise noted, employees are required to reside in the state of California. Further details of this work mode will be discussed at the interview stage.

  • Visit our Candidate Resources page (https://www.edisoncareers.com/page/show/Candidate-Resources) to get important information related to benefits/perks, testing, candidate tips, hiring process, and more!

Why Edison?

The people here at Edison don't just keep the lights on. Our mission is so much bigger. We are fueling the kind of innovation that is changing an entire industry, and quite possibly the planet. You’ll have a chance to grow your career and make a difference in the world.

Edison International (NYSE: EIX), through its subsidiaries, generates and distributes electric power, and invests in Cleantech companies, energy services companies and infrastructure, including renewable energy resources. Edison’s business platforms include Southern California Edison (SCE), one of the largest electric utilities in the U.S. and a longtime leader in renewable energy and energy efficiency, and Edison Energy, a corporate energy services business with a national footprint, offering integrated solutions in a rapidly changing energy and cleantech marketplace. Both in California and the US, Edison International is widely recognized as an industry leader with a vision to drive toward a clean energy future (http://www.sce.com/pathwayto2030/), staying at the forefront of deploying new technologies, exploring innovative business models and advancing transformative policies.

At Edison we celebrate our differences. We are a proud Equal Opportunity Employer and will not discriminate based on race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, protected veteran status or any other protected status.

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