Risk Analyst

About us

BorgWarner is a global product leader in delivering innovative and sustainable mobility solutions for the vehicle market. We are a company of innovators and independent thinkers that brings together talented employees, meaningful work, and amazing technology in a unique environment. At BorgWarner we constantly work towards our vision of a clean and energy-efficient world.

Our Culture

We believe health and safety of our employees are a top priority, we care about our local communities and the global environment. BorgWarner promotes and nurtures a diverse and inclusive environment, honors integrity, strives for excellence, commits to responsibility for our communities and the environment, and builds on the power of collaboration.

Career Opportunities

We manage talent as seriously as we manage our businesses and encourage you to learn about our proud history, strong culture, technologies and future vision. We offer a strong local presence and interesting global opportunities. Start your future with BorgWarner now!

Job purpose

BorgWarner's Strategic Risk Management delivers value to its stakeholders by conducting quantitative analyses of information and data affecting global and domestic insurance programs. The Risk Analyst will leverage a strong accounting and analytical background to understand historical financial data, forecast future results, and drive process improvements. The position reports to the Director of Strategic Risk Management and interacts with all levels of Finance, Operations and Administration in a collaborative team environment.

Key responsibilities

Annual Insurance Renewals:

• Participate in renewal strategy meetings with insurance broker teams. Organize and analyze information used in the renewal process including strategy presentations, insurance applications, quotations, binders, and policies.
• Prepare insurance data submissions using OneStream and HFM Smart View templates to retrieve relevant exposure data including sales, asset values, headcount and travel days. Analyze year-over-year changes and document variance explanations.
• Assist in the review and analysis of annual renewal results compared to market expectations and to the budget. Document premiums and rates in the renewal database. Analyze variances from the previous year and update the renewal dashboard with explanations.
• Prepare the annual insurance allocation for the domestic reporting units by establishing assumptions that are used to budget the premium spend. Coordinate and communicate with the reporting unit controllers
• Compile the global property statement of values which includes COPE data and facility rankings. Understand highly protected risks as defined by our loss engineering firm. Collaborate with Global Operations Services - Facilities & Construction to ensure inspection reports reflect accurate asset values. Coordinate updates to the premium allocation model with the broker team.
• Establish a detailed understanding of the workers compensation insurance program, claims process and claims information system managed by the insurance carrier. Review and analyze monthly workers compensation losses, changes in reserves and settlement proposals. Interact with the actuary to understand the changes to the forecasted liability for workers compensation claims.

• Interact with risk management business partners including the broker teams, actuaries and engineering loss services as well as functional leadership in accounting, supply chain, human resources, and quality.
• Update and maintain the Strategic Risk Management shared drive as well as the internal share point site with coverage, claims and general insurance information.
• Establish and/or update documentation related to routine procedures and practices.

Financial Analysis and Reporting:

• Establish an understanding of the insurance related financial transactions and the total cost of risk for BorgWarner worldwide.
• Establish an understanding of the chart of accounts and the financial reporting hierarchy which assigns reporting unit numbers to each operating location. Identify and track changes resulting from acquisitions, divestitures or closures throughout the year that will impact insurance renewals.
• Perform all procedures required for the quarter-end financial close for insurance transactions. Analyze quarter-over-quarter and year-over-year changes and document variance explanations.
• Review and verify all Strategic Risk Management department invoices and work with Shared Services Accounting to ensure proper coding and approval through the automated workstream.
• Prepare the Strategic Risk Management department budget and analyze monthly variances against actual results.

What we're looking for

• Bachelor's degree in Accounting, Finance, or other related discipline
• Minimum 5 years experience required including prior work experience in public accounting
• Demonstrated analytical, critical thinking and problem-solving skills
• Strong working knowledge of general ledger accounting, SAP, HFM and One Stream along with strong experience with Microsoft Excel and PowerPoint
• Strong interpersonal and written communication skills
• Time management and organizational skills that demonstrate ability to self-manage, multi-task and meet deadlines
• Experience with global company preferred
• Demonstrated drive and desire to continue learning

What we believe

• Inclusion-We value diversity in people, ideas, and experiences.
• Integrity- We believe in transparency, authenticity, and depend on each other to deliver what we promise.
• Excellence- We contribute to our developments by seeking knowledge and sharing information.
• Responsibility- We care about our local communities and the global environment.
• Collaboration- We are one BorgWarner.

Safety

This position will adhere to Global Star Safety Program, including safety rules, practices and training as outlined in the BorgWarner PTC Safety Policy Manual, which includes the use of equipment, protective devices, or clothing that the employer requires. This individual will work in manners that stress the importance of preventing accidents and illnesses. He/she must take every precaution reasonable in the given circumstance for the protection of themselves and coworkers. In addition, he/she is responsible for reporting all injuries and/or possible dangerous situations, incidents, or occurrences to the immediate supervisor.

Equal Employment Opportunity

BorgWarner is an equal employment opportunity employer such that all qualified applicants will receive consideration for employment without regard to race, color, age, religion, sex, sexual orientation, gender identity/expression, national origin, disability or protected veteran status.

Visa Sponsorship

BorgWarner does provide sponsorship for employment visa status based on business need. However, for this role, applicants must be currently authorized to work in the United States on a full-time basis.

No Unauthorized Referrals from Recruiters & Vendors

Please note that BorgWarner and any of its affiliated companies does not seek or accept unsolicited resumes or offers from third party recruiters or staffing agencies associated with any published or unpublished employment opportunities. Any unsolicited information sent to BorgWarner will be considered as unencumbered and free from any fee or charge whatsoever. Only members of our Human Resources Team have the authority to engage or authorize recruiting services, which must be agreed upon before the unsolicited resume or offer is received.

Join the company that is creating solutions that support a cleaner, more energy-efficient world.

For more information about BorgWarner, please visit www.borgwarner.com

#LI-LF1

#LI-HYBRID

Internal Use Only: Salary

Global Terms of Use and Privacy Statement

Carefully read the BorgWarner Privacy Policy before using this website. Your ability to access and use this website and apply for a job at BorgWarner are conditioned on your acceptance and compliance with these terms.

Please access the linked document by clicking here, select the geographical area where you are applying for employment, and review. Before submitting your application you will be asked to confirm your agreement with the terms.

Career Scam Disclaimer: BorgWarner makes no representations or guarantees regarding employment opportunities listed on any third-party website. To protect against career scams, job applicants should take the necessary precautions when interviewing for and accepting employment positions allegedly offered by BorgWarner. Applicants should never provide their national ID numbers, birth dates, credit card numbers, bank account information or other private information when communicating with prospective employers or responding to employment opportunities online. Job applicants are invited to contact BorgWarner through BorgWarner's website to verify the authenticity of any employment opportunities.