What makes a great loss control professional (Engineering)?

  • Knowledge of mechanical engineering
  • Excellent written communication skills
  • Ability to communicate complicated issues

Loss control representatives help insurance clients reduce loss, solve problems and comply with safety regulations. They offer advice, prepare reports, analyze data and identify workplace injury or accident trends so underwriters and clients make informed business decisions. Often acting as a consultant, they share their knowledge and experience to help businesses make positive changes.

What makes a great risk manager?

  • Great team player
  • Knowledge of mechanical engineering
  • Excellent interpersonal communication skills

Risk managers perform some of the same tasks as loss control representatives except they advise their own employer on these issues rather than interacting with clients. They work with senior management to ensure the company stays compliant with safety standards, maximize profit by reducing exposures to loss and work with insurance agents to design the best portfolio of insurance coverage. Risk managers are key to the financial stability of the company. 

job duties

  • Identify potential for loss and create strategies to eliminate it
  • Administer programs to reduce loss and increase safety
  • Conduct detailed risk assessments based on analysis of risks

education

High school degree a must, Associate or Bachelor's degree preferred.

salary

Based on the U.S. Department of Labor, the average Loss Control specialist makes $57,000 annually. The average Risk Manager salary is $102,193 annually. Of course this varies by where you live, your work experience and how much passion you bring to your job!