Senior Claims Examiner - Surety Bonds

Profile

Senior Claims Examiner - Surety Bonds

Duties: The candidate will 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.

Additional Information

Job ID: 2022-5944

Company info

Arch Capital Group Ltd.
1500 District Avenue
Burlington
Massachusetts
United States 01803
Website : https://www.archcapgroup.com/