The Senior Insurance Analyst will assist in the administration of TJX’s worldwide property and casualty insurance program. He/she will independently obtain all actual and projected exposure data , as required by insurers to develop premium quotes, and as required by the outside actuary. The Senior Insurance Analyst prepares the initial draft of a multi-million dollar insurance budget, by line of coverage and for each division and in consolidation. He/she provides TJX’s Legal Department with assistance in reviewing the insurance language in various types of leases and contracts and recommends insurance provisions, to ensure maximum protection of TJX’s interests. They will also administer TJX’s certificate of insurance program.
Assists Management with the annual placement of the company’s worldwide property and casualty insurance policies. Such coverages include, but are not limited to: WC, CGL, property, umbrella, executive risks and cyber risks. Works with internal departments in all countries in which TJX operates, including Finance, IT, HR, Legal, Loss Prevention and others. Works with brokers and underwriters domestically and internationally, to ensure that TJX’s risks are identified and properly insured, to the extent possible.
Follows through to ensure all policies are issued in accordance with TJX instructions. Collects, compares and summarizes premium quotes from insurers, and assists management in analyzing such quotes.
Ensures that premium payments are made by the correct entities, whether by corporate, divisions, buying offices, etc., in all countries, according to local law.
Assists management with review of actuarial loss projections, which will be used by Corporate Accounting and divisional accounting depts., domestically and internationally, for financial statement purposes.
Provides management with ad hoc analyses of TJX exposure data and insurance loss reports.
Under management guidance, prepares fiscal year insurance budget, for each division, and in consolidation. Works with management to prepare insurance expense allocations of the consolidated premiums and to justify the allocations to each division. Tracks the budgeted premiums to the actual premiums, and recommend necessary revisions. Analyzes insurance accounts to ensure correct activity is recorded and prepares year-end insurance accruals, in collaboration with the Corporate Accounting Dept.
Assists internal and external attorneys with questions about insurance language, in numerous types of contracts and leases; uses knowledge of insurance policies and insurance law, and recommends insurance language for maximum protection of TJX’s interests.
Administers TJX’s certificate of insurance system. Provides certificates to landlords and other parties, in accordance with the contract terms, on an annual and ad hoc basis. Reviews and pays all department invoices for insurers, brokers, states and premiums. Prepares insurance compliance reports as required by states.
Performs special projects as assigned.Decision making:
Make recommendations on form and content of exposure data to be provided by divisions, worldwide.
Decides proper methods for allocating millions of dollars in insurance expense to divisions.
Recommends to management the acceptance or rejection of insurers’ audit results.
Recommends to TJX attorneys appropriate insurance requirements for various multi-million dollar contracts.
Determines which landlords and business partners are entitled to certificates of insurance and the extent of the coverage to be provided, in accordance with the terms of the contract provisions.
Bachelor’s degree in Accounting, Finance or similar discipline. MBA preferred.
Minimum of 5-7 years of experience working with insurance brokers or in an insurance company, or in the Risk Management Department of a large company.
Knowledge of corporate insurance administration, or insurance industry experience; knowledge of various commercial insurance coverages; knowledge of legal implications of insurance terms and conditions in contracts.
Basic to intermediate accounting skills and strong electronic spreadsheet skills.
Strong communication skills.
What’s In It For You?
At the TJX Companies, Inc., you'll not only enjoy the security of working for a stable and profitable industry leader, but you'll also enjoy the benefits that go along with it, such as: Medical/Dental/Life insurance, Associate Discounts and a Savings/Profit Sharing 401(k) Plan
Click Here for a full list of the benefits of working for The TJX Companies, Inc.
TJX is an equal opportunity employer committed to workplace diversity
Posting Notes: Framingham || Massachusetts
About The TJX Companies, Inc.
THE TJX COMPANIES, INC.Say hello to big brands & bigger career opportunities!Are you ready to explore the corporate side of retail? The TJX Companies, Inc. is the leading off-price apparel and home fashions retailer in the U.S. and worldwide. Our brands include T.J. Maxx, Marshalls, HomeGoods and Sierra Trading Post, as well as tjmaxx.com and sierratradingpost.com in the United States; Winners, HomeSense and Marshalls in Canada; T.K. Maxx in the United Kingdom, Ireland, Germany, Poland, Austria and the Netherlands, as well as HomeSense and tkmaxx.com in the U.K.; and Trade Secret in Australia. With nearly $31 billion in revenues in 2015, more than 3,600 stores, and approximately 216,000 Associates, success is always in style at TJX. We at TJX understand that both our customers and the talent pool from which our Associates come are increasingly diverse. Our core values of respect, integrity and fairness are inherent in the relationships we build with each other, our vendors and our customers. We are committed to leveraging the differences among our Associates and customers to create both a diversified mix of talent within TJX and a diversified mix of merchandise within our stores. W...e consider the unique views and opinions of our Associates to be key to our growth and success in the future.