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AXIS (AXIS Capital) · 1 day ago

Sr. Claims Specialist - Financial Institutions

Red Bank, NJ

Full-time

Onsite

Mid, Senior Level

$125K/yr - $170K/yr

5+ years exp

AXIS Capital is a trusted global provider of specialty lines insurance and reinsurance. The Sr. Claims Specialist will manage various Management Liability Claims, provide guidance to team members, and develop strategies for claims handling while fostering relationships with internal and external stakeholders.

FinanceFinancial ServicesInsurance

Responsibilities

Handling and managing a wide variety of Management Liability Claims including Bankers Professional Liability (BPL), Investment Advisors, Private Equity Errors and Omissions (E&O)/D&O, Insurance Company Professional Liability (ICPL). A plus would be experience with Transactional Liability claims including Representations and Warranty, Judgment Preservation & Contingent Risk

Investigation, analysis and evaluation of coverage liability and damages, within best practices and maintain appropriate documentation

Providing technical advice, training and guidance as needed to junior team members and internal business partners

Reviewing financial institutions claims to determine nature of loss, coverage provided, and scope of claim and to guide strategic direction regarding settlement/disposition of claims

Developing and maintaining relationships with internal and external partners

Escalating coverage issues and recommending outside coverage counsel assignments for approval, where warranted

Formulating claims and litigation strategies, assigning, directing, and managing outside counsel

Managing costs, including use of coverage counsel and litigation costs as well as collaborating and working with the Litigation Management and Vendor Management teams ensuring cost management and the development and enhancement of panel counsel

Fostering relationships and communicating extensively with senior executives, brokers, reinsurers, actuaries, underwriters, insureds, and auditors (both external and internal)

Supporting underwriting inquiries and information requests and drafting, reporting claim trends, data analysis, and risk assessments

Leading and participating in presentations and discussions with Underwriters and Insureds on large losses and claim trends

Participating in claim audits

Participate in special projects and department initiatives

Identifying, liability and coverage trends and issues with both individual and portfolio impact and formulating the processes and strategies for handling such claims as well as ensuring accurate and consistent claims management across impacted underwriting segments and lines of business

Other duties as assigned

Qualification

Management Liability claimsJuris DoctorateComplex coverage analysisFinancial Institutions knowledgeAnalytical skillsNegotiation skillsCommunication skillsLeadership skillsOrganizational skillsInterpersonal skills

Required

Juris Doctorate

Minimum of 5-7 years of experience handling Management Liability claims

Demonstrated ability to work effectively as part of a team, meet deadlines, and successfully perform in a changing and at times, challenging work environment

High exposure/complex claim exposure evaluation skills

Demonstrated ability to manage the “flow” associated with FI claims and manage KPIs

Excellent negotiation, communication and interpersonal skills

Minimum of 5-7 years of Management Liability claims management experience

Technical knowledge, skills, and training within the field to include: Complex coverage analysis and experience required, Financial Institutions knowledge is required, Confidence in coverage, evaluation and reserving, Excellent presentation, writing and editing skills, Solid negotiation and settlement skills, Supervisory perspective, with experience providing direction and authority to adjusters

Preferred

Possess required states' claims adjusters licenses or ability to obtain such licenses as required within 90-120 days of hiring (preferred states are NY, CA, FL, and/or TX, among others)

Demonstrated leadership, organizational, and management skills or experience practicing law as well as claims management (both directly managed and TPA managed claims)

Demonstrated ability to influence and collaborate at all organizational levels, both internally and externally as well as the ability to identify and resolve complex, disputed claims

Analytical thinker that can drive results using all facets of the legal and claims processes

Understanding of and ability to balance both the immediate claim issues as well as the broader portfolio impact and customer service impact of coverage disputes and issues

Excellent oral and written communication skills with the ability to deal effectively with people with conflicting expectations, differing opinions, and multiple viewpoints

Demonstrated ability and experience handling management liability claims involving a wide variety of loss scenarios as well as reporting and presenting about same to senior management

In-depth knowledge of claims, litigation, arbitration, and trial processes as well as excellent analytical, investigative, and negotiating skills

Admitted to practice a plus

Familiarity with KPI, Data, and Metrics a plus

Company

AXIS (AXIS Capital)

In a world that never stands still – where the nature of risk is constantly evolving and the needs of your customers are continually changing – you need a partner that turns challenges into possibilities and possibilities into opportunities.

Founded in 2001

Hamilton, Hamilton, BMU

1001-5000 employees