What are the responsibilities and job description for the Risk & Insurance Analyst position at magnitudesoftware?
About Us: insightsoftware is a global provider of reporting, analytics, and performance management solutions that unlock the potential of business data and transform the way finance and data teams operate. We empower leaders from over 32,000 organizations to make timely and intelligent decisions. Our comprehensive solutions span Financial Planning and Analysis (FP&A), Controllership, and Data and Analytics. We deliver finance teams the insights required to navigate any economic climate and drive greater financial intelligence, while increasing productivity, visibility, accuracy, and compliance. Learn more at insightsoftware.com. Job Description: Position Description The Risk & Insurance Analyst is responsible for global insurance program management and risk identification within the Governance, Risk Management, Compliance, & Disputes Group ("GRCD"). This role is responsible for protecting the company's assets and financial stability across all geographies through disciplined insurance and risk practices, focusing on insurable risk, loss control, claims administration, and financial risk exposure. The ideal candidate brings demonstrated expertise in global insurance program management, claims administration, risk assessment, and cross-functional stakeholder engagement. The Risk & Insurance Analyst functions as a strategic partner within GRCD—enabling the business to pursue global opportunities confidently while managing exposure through disciplined risk and insurance practices. Responsibilities Insurance Program Management Manage the purchase and ongoing management of insightsoftware's global insurance portfolio, including D&O, E&O/Professional Liability, Cyber, General Liability, Property, Workers' Compensation, and other lines across all applicable jurisdictions Facilitate annual renewal processes: coordinate broker relationships, prepare underwriting submissions, evaluate coverage adequacy, and negotiate terms with brokers and carriers worldwide to secure optimal coverage at favorable rates Develop and manage insurance budgets; pay invoices to ensure consistent and uninterrupted global coverage Manage claims and loss control activities from initial notice through resolution, coordinating with GRCD colleagues, internal stakeholders, and external counsel as needed Analyze coverage gaps as the business evolves (M&A activity, new geographies, product launches) and recommend program adjustments Maintain insurance certificates and ensure compliance with contractual insurance requirements across global commercial agreements Identify and address insurance or safety issues that could lead to litigation if overlooked, escalating as appropriate Operational Risk Management Identify, assess, and prioritize operational, financial, and insurable risks within GRCD's scope Assist in the development and maintenance of GRCD's operational risk management policies, procedures, and risk register Prepare loss analyses, risk budgets, and reports with supporting data and statistics; monitor and report on the effectiveness of risk management plans to GRCD leadership and senior management Recommend and support the implementation of preventive measures to minimize costs and damage should a loss occur Partner within the Legal Department’s Compliance function and cross-functionally on risk and control self-assessments (RCSAs) and audit management where operational risk and compliance risk intersect Contribute to exit readiness by ensuring the risk and insurance program is well-documented and audit-ready Partner with colleagues and support regulatory compliance activities Communication, Training, and Stakeholder Engagement Serve as GRCD's primary point of contact for insurance brokers, carriers, and external risk advisors globally Present risk findings, insurance program updates, and strategy recommendations to Legal leadership and other stakeholders Collaborate with internal stakeholders across Legal, Finance, IT, Commercial, HR, and Operations on risk and insurance matters within GRCD's remit Train and inform staff on operational risk awareness and insurance-related practices, complementing the Compliance Analyst's regulatory compliance training activities Promptly escalate significant issues, confirmed risks, or coverage concerns Required Skills and Qualifications Bachelor's degree in Business, Finance, Risk Management, or related field required Minimum 5-7 years of experience in a Risk and Insurance Manager or similar role Demonstrated experience managing a global commercial insurance portfolio across multiple jurisdictions, including renewals, claims, and broker relationships Strong analytical, problem-solving, negotiation, and decision-making abilities Excellent interpersonal and communication skills; able to convey complex risk and insurance concepts clearly to non-technical audiences Knowledge of legal and regulatory requirements related to risk management and insurance across global markets Familiarity with risk management software and tools Preferred Skills and Qualifications Professional certifications such as Certified Risk Manager (CRM), Financial Risk Manager (FRM), ARM, or CPCU SaaS or technology company experience Experience with M&A integration risk considerations Additional information ** At this time, insightsoftware is not able to offer sponsorship to candidates who are not eligible to work in the country where the position is located. ** Background checks are required for employment with insightsoftware, where permitted by country, state/province. At insightsoftware, we are committed to equal employment opportunity regardless of race, color, ethnicity, ancestry, religion, national origin, gender, sex, gender identity or expression, sexual orientation, age, citizenship, marital or parental status, disability, veteran status, or other class protected by applicable law. We are proud to be an equal opportunity workplace. Additional Information All your information will be kept confidential according to EEO guidelines. Learn more about our high-energy, high-performance global team: Work With Us insightsoftware About Us: Hear From Our Team Background checks are required for employment with insightsoftware, where permitted by country, state/province. At insightsoftware, we are committed to equal employment opportunity regardless of race, color, ethnicity, ancestry, religion, national origin, gender, sex, gender identity or expression, sexual orientation, age, citizenship, marital or parental status, disability, veteran status, or other class protected by applicable law. We are proud to be an equal opportunity workplace. insightsoftware is a global provider of reporting, analytics, and performance management solutions that unlock the potential of business data and transform the way finance and data teams operate. We empower leaders from over 32,000 organizations to make timely and intelligent decisions. Our comprehensive solutions span Financial Planning and Analysis (FP&A), Controllership, and Data and Analytics. We deliver finance teams the insights required to navigate any economic climate and drive greater financial intelligence, while increasing productivity, visibility, accuracy, and compliance. Learn more at insightsoftware.com.