Principal Insurance Analyst

Medtronic’s Risk Management function focuses on ensuring that Medtronic plc is protected against significant losses that could adversely affect its ability to fulfill responsibilities to its customers, employees, shareholders, and the public.  A formal approach to self-insurance, coupled with a strong risk management practice of loss prevention and loss control, provides Medtronic with a structured program to optimally manage risk.

 It is preferred that the successful candidate be in Minneapolis and work based on the hybrid model; however, remote working arrangements will also be considered for the right candidate.

Responsibilities may include the following and other duties may be assigned.

The Principal Insurance Analyst is an integral member of the Risk Management team that supports the business to comply with global insurance requirements.  This role requires strong working knowledge of insurance and closely collaborates with a variety of stakeholders, including with employees, external parties/authorities and customers. Key responsibilities include:   

·       Participate in the collection and preparation of submission data for global insurance policies for casualty, property, and other corporate insurance programs.

·       Manage workers’ compensation state reporting for monopolistic and self-insured states.

·       Answer questions regarding coverage.

·       Review policies and endorsements for accuracy and completeness.

·       Maintain electronic policy and submission records and documentation.

·       Maintain, update SharePoint Insurance site.

·       Administer renewal and new certificate of insurance and Auto ID card requests.

·       Review of contract insurance language.

·       Participate in M&A due diligence and acquisition integration into the insurance program.

·       Assist with preparation of the monthly captive claims data reconciliation.

·       Perform other duties and projects assigned based on business need.

·       Interface with external stakeholders including brokers, insurers, and other third-party insurance/risk management vendors.

·       Establish and maintain strong collaborative relationships between the risk management team and internal clients and other functions.

·       Bachelor’s degree with 7 years of risk management or insurance experience; or an advanced degree with 5 years’ experience

·       Proficient in Microsoft Office products with advanced Excel usage/knowledge.

·       Strong attention to detail and accuracy.

·       Experience with RMIS.

·       Familiarity with a captive insurance company.

·       Familiarity with workers’ compensation policies and claims.

·       Demonstrated ability to work independently and to manage multiple priorities and projects simultaneously.

·       Demonstrates a sense of urgency and dedication, no matter how small the task is at hand.

·       Excellent written and verbal communications skills.

·       Demonstrated results orientation (driving to deadlines, project goals, etc.) and ability to attain results through collaboration.

·       Integrity and strong ethical center.

·       Ability to problem solve, and continually improve processes.

·       Excellent common sense and judgment.

·       Flexibility, adaptability, responsiveness, and collegiality.