Contract Surety Claims Manager/Senior Contract Surety Claims Manager

Great American Insurance Group; Cincinnati (OH); On-site; USD 60,000 - 100,000; Full time

Job summary

Join a forward-thinking company as a Contract Surety Claims Manager, where your expertise will shape the future of claims management. In this pivotal role, you will lead a dedicated team, handle complex claims, and ensure compliance with regulatory standards. This position offers a unique opportunity to work in a collaborative environment that values diversity and innovation. With a strong commitment to employee development and a comprehensive benefits package, you will thrive in a culture that empowers you to excel. If you are passionate about making a significant impact in the insurance industry, this role is perfect for you.

Benefits

Medical, Dental, and Vision Plans

Paid Time Off (PTO)

Paid Holidays

Commuter Benefits

Employee Stock Purchase Plan

Education Reimbursement

Paid Parental Leave

401(k) Plan with Company Match

Qualifications

• 5-10 years of experience in claims management and handling complex claims.
• Bachelor’s degree in Business, Finance, or related field.

Responsibilities

• Manage and supervise Contract Surety claims and direct reports.
• Investigate, evaluate, and adjust high complexity claims efficiently.

Skills

Claims Management

Investigation Skills

Analytical Skills

Team Leadership

Financial Evaluation

Education

Bachelor’s Degree

Experience in Business or Finance

Tools

Claims Management Software

Financial Analysis Tools

Job description

Be Here. Be Great. Working for a leader in the insurance industry means opportunity for you. Great American Insurance Group's member companies are subsidiaries of American Financial Group. We combine a "small company" culture where your ideas will be heard with "big company" expertise to help you succeed. With over 30 specialty and property and casualty operations, there are always opportunities here to learn and grow.

At Great American, we value diversity and recognize the benefits gained when people from different cultures, backgrounds and experiences work collaboratively to achieve business results. We are intentionally focused on fostering an inclusive culture and know valuing diversity is an essential leadership quality. Our goal is to create a workplace where all employees feel included, empowered and enabled to perform at their best.

Great American's Bond Division has been underwriting surety and fidelity bonds for over 90 years. Great American is known for expert underwriting, solid financial strength, market leadership and creative solutions to all bonding needs. With a highly diverse product line, Great American is one of the top surety companies in the United States.

Our Claims division is looking for a Contract Surety Claims Manager/Senior Contract Surety Claims Manager to join the claims team in their headquarters in Cincinnati, OH. The successful candidate is expected to work in the Cincinnati office full-time.

Essential Job Functions and Responsibilities:

• Handles Contract Surety claims of high complexity/exposure as well as supervises direct reports’ activities within the Bond Claims department. Shall both directly handle and supervise direct reports as to:

• Investigates, evaluates and adjusts Contract Surety claims:

  • Reviews and evaluates coverage and/or liability.
  • Secures necessary information (i.e., reports, bonds, credit limits, policies, appraisals, releases, statements, contracts or other documents) to assist in the investigation of claims.
  • Retains and directs approved consultants and outside counsel. Responsible for maintaining cost controls and overseeing the work of outside counsel.
  • Determines available avenues of recovery and their cost-effectiveness; coordinates approved recovery effort.
  • Establishes and maintains proper loss, salvage and subrogation reserves.
  • Prepares periodic claims reports and financial evaluations.
• Affects settlements/reserves within prescribed limits and submits recommendations to supervisor on cases exceeding personal authority.
• Ensures that claims payments are issued in a timely and accurate manner.
• Ensures compliance of claims handling pursuant to all state, legal, statutory, and regulatory bodies to comply with all company procedures and requirements.
• Manage and advise a team of Adjusters on involved cases and extend settlement authority to Adjusters as necessary after reviewing case files.
• May establish reserves and make recommendations to Senior Management on cases exceeding personal authority.
• Participates in management administration functions, such as SOX (Sarbanes Oxley) Compliance, SOX Testing, Budget Analysis, and Budget Preparation.
• Prepares analytical reports, including Exposure Analysis, Re-Insurance and Pricing Treaty.
• As directed, may assist Underwriting, Marketing, Risk Management, and Loss Prevention with projects, including evaluating potential new business.
• Ensures that the team meets performance targets.
• Responsible for performance and coaching of staff and decisions regarding talent selection, development, and performance management. Ensures new members of the team receive proper training.
• Performs other duties as assigned.

Job Requirements:

Education: Bachelor’s Degree or equivalent experience. Field of Study: Business, Liberal Arts, Finance or a related discipline.

Experience: Generally, 5 to 10 years of related experience.

Business Unit: Bond

Benefits:

Compensation varies by role, position level, and location. Individual pay is influenced by skills, education, training, certifications, experience, and the role's scope and complexity, along with business needs.

We offer a competitive Total Rewards package, including medical, dental, and vision plans starting on day one, PTO, paid holidays, commuter benefits, an employee stock purchase plan, education reimbursement, paid parental leave/adoption assistance, and a 401(k) plan with company match. These benefits are available to eligible full-time and part-time employees.

Your recruiter can provide more details about our total rewards and specific compensation ranges during the hiring process.