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.
Position Summary
The Claims Division is seeking a Senior Claims Examiner to join the Surety Team. In this role, the incumbent will actively investigate, evaluate, and resolve of all types of surety bond claims to ensure that the handling of surety bond claims are managed in accordance with best claims practices.
Responsibilities
Investigate, analyze, negotiate, and resolve claims made on commercial, transactional, and contract 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
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 contract and commercial 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 contract 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
Experience & Required Skills
Minimum of 5-8 years of construction law practice or in-house experience handling surety claims
Availability and flexibility for business travel up to 25%
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
Ability to take part in active strategic discussions
Ability to work well independently and in a team environment
Hands-on experience and strong aptitude with Microsoft Excel, PowerPoint and Word
Education
Bachelor’s Degree; Juris Doctorate preferred
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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.
$145,700 - $160,000/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.
Arch is committed to helping employees succeed through our comprehensive benefits package that includes multiple medical plans plus dental, vision and prescription drug coverage; a competitive 401k with generous matching; PTO beginning at 20 days per year; up to 12 paid company holidays per year plus 2 paid days of Volunteer Time Offer; basic Life and AD&D Insurance as well as Short and Long-Term Disability; Paid Parental Leave of up to 10 weeks; Student Loan Assistance and Tuition Reimbursement, Backup Child and Elder Care; and more. Click here to learn more on available benefits.
