Contract Surety Claims Manager/Senior Contract Surety Claims Manager

Contract Surety Claims Manager/Senior Contract Surety Claims Manager

Requirements

• Bachelor’s Degree or equivalent experience.
• Business, Liberal Arts, Finance or a related discipline.
• Generally, 5 to 10 years of Surety Bond claims experience.

Responsibilities

• Handles Contract Surety claims of high complexity/exposure as well as supervises direct reports’ activities within the Bond Claims department.
• Investigates, evaluates and adjusts Contract Surety claims.
• Reviews and evaluates coverage and/or liability.
• Secures necessary information (i.e., reports, bonds, credit limits, policies, appraisals, releases, statements, contracts or other documents) to assist in the investigation of claims.
• Retains and directs approved consultants and outside counsel. Responsible for maintaining cost controls and overseeing the work of outside counsel.
• Determines available avenues of recovery and their cost-effectiveness; coordinates approved recovery effort.
• Establishes and maintains proper loss, salvage and subrogation reserves.
• Prepares periodic claims reports and financial evaluations.
• Affects settlements/reserves within prescribed limits and submits recommendations to supervisor on cases exceeding personal authority.
• Ensures that claims payments are issued in a timely and accurate manner.
• Ensures compliance of claims handling pursuant to all state, legal, statutory, and regulatory bodies to comply with all company procedures and requirements.
• Manage and advise a team of Adjusters on involved cases and extend settlement authority to Adjusters as necessary after reviewing case files.
• May establish reserves and make recommendations to Senior Management on cases exceeding personal authority.
• Participates in management administration functions, such as SOX (Sarbanes Oxley) Compliance, SOX Testing, Budget Analysis, and Budget Preparation.
• Prepares analytical reports, including Exposure Analysis, Re-Insurance and Pricing Treaty.
• As directed, may assist Underwriting, Marketing, Risk Management, and Loss Prevention with projects, including evaluating potential new business.
• Ensures that the team meets performance targets.
• Responsible for performance and coaching of staff and decisions regarding talent selection, development, and performance management. Ensures new members of the team receive proper training.
• Performs other duties as assigned.

Preferred Qualifications

No preferred qualifications provided.