AVP, Surety Claims
AVP, Surety Claims
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$ 170000 - 185000
1 Vacancy
Job Description
With a company culture rooted in collaboration expertise and innovation we aim to promote progress and inspire our clients employees investors and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short We Enable Possibility.
AVP Surety Claims will be responsible for the day to day management of senior claims examiners managing and coaching team performance quarterly QA reviews of direct reports files ensure compliance with all Arch Surety Claim Department processes and procedures providing Business support and overseeing business support work of direct reports managing claim assignments and workload balancing claim reporting and oversight of direct reports in preparation of same direct handling of the investigation evaluation and resolution of all types of surety bond claims within the Department to ensure that the handling of claims are managed in accordance with best claims practices.
Principal Duties and Responsibilities
Investigate analyze negotiate and resolve claims made on surety bonds including bankruptcy and indemnity pursuit with preference to use in house resources for such tasks prior to retention of outside resources
Develop and execute strategic action plans to mitigate bond claim loss exposures
Participate in books and records reviews
Timely and thoroughly document claim files
Set the strategy for the claims and guide the negotiation process and ensure compliance with Corporate Audit and SOX policies and procedures
Prepare and present written/oral reports to senior management setting forth all issues influencing evaluation and recommending reserves and oversight of direct reports in their preparation and presentations
Litigation management and counsel retention:
Direct counsel in accordance with resolution strategy
Active involvement with litigation strategy and review of pleadings
Manage outside counsels work to ensure budget complied with and appropriate counsel retained/assigned
Review litigation materials including depositions and experts reports
Attend meetings and court proceedings in person as needed
Identify and review of each jurisdictions applicable statutes rules and case law as well as review of applicable bonds as needed
Maintain a diary of all claims establish accurate reserves in a timely fashion for resolution and settlement of claims and expeditiously respond to inquiries from accounts counsel underwriters brokers and senior management regarding claims
Actively collaborate and coordinate with Surety Underwriters on existing and emerging claim matters and provide guidance research review analysis drafting and negotiation for all aspects of surety and its related transactions
Attend represent and make presentations at Industry functions.
Participate in Strategic Initiatives
Write internal White Papers
Competence and confidence to participate in meetings without reliance upon outside resources
Create and present Risk Mitigation Seminars for commercial surety accounts underwriters and agents
Participate in the maintenance of 50 State Surveys on various research topics applicable to Surety
Participate in the maintenance of Business Support work product
Lead claim specific teams comprised of more junior examiners in house accountant and engineer and outside counsel and/or consultants
Qualifications:
Bachelors Degree required and Juris Doctorate preferred
Preferred minimum of 8 - 10 years of surety law practice or in-house experience handling surety claims; 3 years of supervisory/management experience preferred
Availability to travel 20% or as requested
Strong logical analytical and problem-solving skills
Proper Adjuster Licensing in all applicable states
Exceptional communication (written and verbal) evaluating influencing negotiating listening and interpersonal skills to effectively develop productive working relationships with internal/external peers and other professionals across organizational lines
Strong time management and organizational skills
Demonstrated ability to take part in active strategic discussions
Demonstrated ability to work well independently and in a team environment
Hands-on experience and intermediate to advanced aptitude with Microsoft Excel PowerPoint and Word
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For individuals assigned or hired to work in the location(s) indicated below the base salary range is provided. Range is as of the time of posting. Position is incentive eligible.
$170000 - $185000/year
Total individual compensation (base salary short & long-term incentives) offered will take into account a number of factors including but not limited to geographic location scope & responsibilities of the role qualifications talent availability & specialization as well as business needs. The above pay range may be modified in the future.
Click here to learn more on available benefits.
Do you like solving complex business problems working with talented colleagues and have an innovative mindset Arch may be a great fit for you.If this job isnt the right fit but youre interested in working for Arch create a job alert! Simply create an account and opt in to receive emails when we have job openings that meet your criteria. Join our talent community to share your preferences directly with Archs Talent Acquisition team.
For Colorado Applicants - The deadline to submit your application is:
June 02 202514400 Arch Insurance Group Inc.Required Experience:
Exec
Employment Type
Full-Time
