Contract Surety Claims Manager/Senior Contract Surety Claims Manager

Summit Consulting; Cincinnati (OH); Hybrid; USD 60,000 - 100,000; Full time

Job summary

An established industry player is seeking a Contract Surety Claims Manager to join their dynamic team. This role involves managing complex claims, supervising staff, and ensuring compliance with all regulations. The company fosters a culture of diversity and inclusion, offering opportunities for professional growth and development. With a commitment to employee well-being, they provide a comprehensive benefits package, including medical, dental, and vision plans, PTO, and a 401(k) plan. If you're passionate about making a difference in the insurance industry, this is the perfect opportunity 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/Adoption Assistance

401(k) Plan with Company Match

Qualifications

• 5-10 years of Surety Bond claims experience required.
• Bachelor's Degree or equivalent experience in relevant fields.

Responsibilities

• Manage complex Contract Surety claims and supervise direct reports.
• Ensure compliance with legal and regulatory requirements.
• Prepare analytical reports and manage team performance.

Skills

Contract Surety Claims Management

Investigation and Evaluation

Cost Control

Analytical Reporting

Team Management

Education

Bachelor’s Degree in Business, Liberal Arts, Finance

Job description

Contract Surety Claims Manager/Senior Contract Surety Claims Manager

Apply locations Cincinnati, OH (USA) time type Full time posted on Posted 10 Days Ago job requisition id R6261

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 our Cincinnati, OH office. This position is open to remote work for candidates outside of Cincinnati, OH.

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

• Bachelor’s Degree or equivalent experience.
• Business, Liberal Arts, Finance or a related discipline.
• Generally, 5 to 10 years of Surety Bond claims 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.

About Us

Great American Insurance Group understands the importance of choosing a financially strong company. We are an organization built for the long term and are committed to giving you that strength.

For nearly 150 years, Americans have trusted us to protect them. Our innovative insurance solutions and specialization serves niche marketplaces that we know well. This expertise gives us a successful foundation that spans generations.

You never know where a career in insurance will take you. Whether you are starting your career or are looking for a company to grow your experience, at Great American Insurance Group, you can join our more than 8,500 employees to “Be Here. Be GREAT!”