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 counsel’s work to ensure budget complied with and appropriate counsel retained/assigned
•Review litigation materials including depositions and expert's reports
• Attend meetings and court proceedings in person as needed
• Identify and review of each jurisdiction's 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:
• Bachelor’s 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.
$170,000 - $185,000/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.
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For Colorado Applicants - The deadline to submit your application is:
June 02, 202514400 Arch Insurance Group Inc.
