Risk and Insurance Officer

The Risk and Insurance Officer is a key contributor to the company's risk management strategy, responsible for overseeing risk identification, mitigation, and insurance coverage across a growing portfolio of coal-fired power plants. This role supports both operational risk management for existing assets and strategic risk planning for new coal plant developments. The ideal candidate has 5–10 years of experience in industrial risk and insurance management, with deep familiarity with the coal power generation sector and its regulatory, environmental, and operational complexities.

Key Responsibilities:

Portfolio Risk Management:

• Drive the implementation of the MGEN-wide ERM Framework and Policy across all operating coal plants, offices, and new development projects.
• Serve as steward of the MGEN Thermal Risk Register, ensuring all risk owners provide timely updates for effective monitoring and reporting.
• Facilitate site-specific and portfolio-wide risk assessments covering operational, environmental, regulatory, financial, reputational, and other key risks.
• Support risk evaluation during feasibility studies, permitting, and construction phases of new coal power plants.
• Collaborate with engineering, operations, and legal teams to integrate risk controls into plant design and development.
• Monitor the implementation of Risk Treatment Plans to ensure commitments are met.
• Coordinate with the MGEN ERM Team to ensure risk focus areas are strictly monitored and emerging risks are identified and promptly reported.
• Consolidate Risk Registers to produce the MGEN Thermal consolidated risk report.
• Ensure that Risk Management 101 training is conducted annually.
• Support the implementation of MGEN ERM activities within MGEN Thermal.

Insurance Strategy & Management:

• Support the design and management of insurance programs covering property, machinery breakdown, business interruption, liability, environmental risks, and construction-related exposures.
• Implement administrative requirements related to insurance programs.
• Assist in claims management, ensuring timely and effective resolution of incidents across sites.
• Monitor insurance market trends and regulatory changes affecting coal power operations.

Operational Risk Support:

• Partner with plant managers and EHS teams to identify and mitigate risks related to combustion systems, fuel handling, emissions control, and occupational safety.
• Ensure alignment of site-level risk practices with corporate standards and industry best practices.
• Conduct periodic risk audits and support incident investigations.
• Monitor the implementation of Risk Treatment Plans to ensure commitments are met.

Governance & Compliance:

• Maintain accurate documentation of risk assessments, insurance policies, and claims history.
• Support internal and external audits, including those related to financing and regulatory reporting.
• Collect initiatives across all plants and prepare the Risk Compliance Plan Report for the DOE.
• Submit required Risk Management Reports to the MGEN ERM Team.

Stakeholder Engagement:

• Organize Pillar Risk Committee meetings in collaboration with the MGEN ERM Team.
• Advise senior leadership on risk exposure and insurance strategy across the coal portfolio.
• Provide training and guidance to plant and project teams on risk and insurance protocols.
• Build strong relationships with external stakeholders, including insurers and brokers.

Job Requirements:

• Bachelor's degree in Risk Management, Engineering, Finance, or a related field.
• Professional certifications such as ISO 31000, ARM, CRM, or equivalent are highly preferred.
• 5–10 years of experience in risk and insurance management, with at least 3 years in the energy or industrial sector.
• Experience managing risks and insurance for coal-fired power plants or similar heavy infrastructure assets is essential.