What are the responsibilities and job description for the Risk & Insurance Analyst position at American Electric Power?
Job Posting End Date
10-08-2025
Please note the job posting will close on the day before the posting end date.
Job Summary
The power of AEP comes from our valued team of unique employees…. the best in the business! We’re proud to be one of the largest electric energy companies in the U.S., powering over 5 million homes and businesses, spanning across 11 states. We’re passionate about making an innovative difference in the communities we serve. We’re powering the future – today!
The Risk and Insurance Analyst will support the procurement process of corporate insurance, including captive insurance operations. This role identifies hazard risks arising from the management and operations of AEP, including claims and submissions to underwriters. This position will include financial review of captive operations and evaluations of non-complex vendor contracts.
Job Description
What You'll Do:
Education:
Bachelor's degree in business administration, finance, risk management, insurance, engineering or relevant field of study or associate's degree in relevant field and two years of relevant work experience or high school diploma/GED and four years of relevant work experience.
Experience:
In addition to any experience required above, 2 years of relevant risk work experience is required.
Preferred Qualifications
Salary Grade 06: Compensation Range: $72,380 - $84,443
Salary Grade 07: Compensation Range: $85,081 - $99,263
Compensation Data
Compensation Grade:
SP20-006
Compensation Range:
$72,380.00-90,474.50 USD
The Physical Demand Level for this job is: S – Sedentary Work: Exerting up to 10 pounds of force occasionally (Occasionally: activity or condition exists up to 1/3 of the time) and/or a negligible amount of force frequently. (Frequently: activity or condition exists from 1/3 to 2/3 of the time) to lift, carry, push, pull or otherwise move objects, including the human body. Sedentary work involves sitting most of the time but may involve walking or standing for brief periods of time. Jobs are sedentary if walking and standing are required only occasionally, and all other sedentary criteria are met.
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It is hereby reaffirmed that it is the policy of American Electric Power (AEP) to provide Equal Employment Opportunity in all respects of the employer-employee relationship including recruiting, hiring, upgrading and promotion, conditions and privileges of employment, company sponsored training programs, educational assistance, social and recreational programs, compensation, benefits, transfers, discipline, layoffs and termination of employment to all employees and applicants without discrimination because of race, color, religion, sex (including pregnancy, gender identity, and sexual orientation), national origin, age, veteran or military status, disability, genetic information, or any other basis prohibited by applicable law. When required by law, we might record certain information or applicants for employment may be invited to voluntarily disclose protected characteristics.
10-08-2025
Please note the job posting will close on the day before the posting end date.
Job Summary
The power of AEP comes from our valued team of unique employees…. the best in the business! We’re proud to be one of the largest electric energy companies in the U.S., powering over 5 million homes and businesses, spanning across 11 states. We’re passionate about making an innovative difference in the communities we serve. We’re powering the future – today!
The Risk and Insurance Analyst will support the procurement process of corporate insurance, including captive insurance operations. This role identifies hazard risks arising from the management and operations of AEP, including claims and submissions to underwriters. This position will include financial review of captive operations and evaluations of non-complex vendor contracts.
Job Description
What You'll Do:
- Assist in the identification, analysis and mitigation of hazard risks exposing assets and liabilities of AEP and its affiliates and participate in the development and execution of strategies for retaining, transferring or financing such risks.
- Participate in the oversight of captive management and operations including any one or more of the following areas: claims; underwriting; financial reporting; investment reviews; financial position analysis; reinsurance; cash flow; case reserve reporting; banking relationships; financial and operational audits; actuarial studies and/or compliance with Sarbanes-Oxley Act requirements.
- Conduct insurance policy reviews, cost analysis and premium allocations for insurance programs.
- Collect underwriting data, claims data and information pertaining to the risks and operations of AEP.
- Assist or participate in scheduling and coordinating loss control or risk control activities.
- Review loss control reports and summarize data and recommendations for discussion with department head and business units.
- Participate in claims being pursued against insurance programs including any one or more of the following areas: collecting appropriate information for adjusters; preparing proofs of loss and/or making recommendations for settlement value.
- Review of non-complex contracts between AEP and vendors, contractors and any other counter-party regarding any provisions that may have an impact on our retention or transfer of risks pertaining to any liability or asset.
- Assist and participate on complex contracts under the supervision of the department head or a Risk & Insurance Management Analyst Principal.
Education:
Bachelor's degree in business administration, finance, risk management, insurance, engineering or relevant field of study or associate's degree in relevant field and two years of relevant work experience or high school diploma/GED and four years of relevant work experience.
Experience:
In addition to any experience required above, 2 years of relevant risk work experience is required.
Preferred Qualifications
- CPCU (Charter Property Casuality Underwriter) preferred
- ARM (Associate in Risk Management) preferred.
- Travel: domestic and international (requires passport) to visit vendors, brokers and insurance markets, AEP plant and field visits (could be up to 10% time).
- Strong written and verbal communication skills.
Salary Grade 06: Compensation Range: $72,380 - $84,443
Salary Grade 07: Compensation Range: $85,081 - $99,263
Compensation Data
Compensation Grade:
SP20-006
Compensation Range:
$72,380.00-90,474.50 USD
The Physical Demand Level for this job is: S – Sedentary Work: Exerting up to 10 pounds of force occasionally (Occasionally: activity or condition exists up to 1/3 of the time) and/or a negligible amount of force frequently. (Frequently: activity or condition exists from 1/3 to 2/3 of the time) to lift, carry, push, pull or otherwise move objects, including the human body. Sedentary work involves sitting most of the time but may involve walking or standing for brief periods of time. Jobs are sedentary if walking and standing are required only occasionally, and all other sedentary criteria are met.
Hear about it first! Get job alerts by email. Log in to your Candidate Home Account today! If you don't have an account, you can create one.
It is hereby reaffirmed that it is the policy of American Electric Power (AEP) to provide Equal Employment Opportunity in all respects of the employer-employee relationship including recruiting, hiring, upgrading and promotion, conditions and privileges of employment, company sponsored training programs, educational assistance, social and recreational programs, compensation, benefits, transfers, discipline, layoffs and termination of employment to all employees and applicants without discrimination because of race, color, religion, sex (including pregnancy, gender identity, and sexual orientation), national origin, age, veteran or military status, disability, genetic information, or any other basis prohibited by applicable law. When required by law, we might record certain information or applicants for employment may be invited to voluntarily disclose protected characteristics.
Salary : $72,380 - $99,263
