Job Details

Claims Consulting Director - Financial Institutions

Company name

Organization Type

In-House

Job Type

Attorney

Years of Experience

Min 10 yrs required

Location

Chicago, IL

Date Last Verified

Aug 20,2017

Posted on

May 04,2017
Practice Area
Insurance Coverage >> Insurance Coverage
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Claims Consulting Director - Financial Institutions The candidate will have responsibility for handling and resolving a diverse range of high severity D&O and E&O claims arising under reimbursement policies issued to large banks, insurance companies, investment advisers and private equity firms. Manages the most complex investigations of claims, including coverage defenses, liability and damages exposures. Determines if a major claim should be settled or litigated and implements an appropriate resolution strategy accordingly. Effectively manages loss costs and claim expenses on major claims. Directs all types of investigative activity or litigation on major claims and ensures adequate and timely reserves are set. Consults and collaborates with staff counsel or panel attorneys regarding discovery and litigation strategy. Directs and may engage in the negotiation of the most complex settlement packages to drive cost effective and timely settlements. Makes recommendations to and participates with senior management and business leaders in the development and implementation of claims policy and business strategy. Actively pursues and identifies ways to reduce inefficiencies in claims processes. Utilizes oral presentation and writing skills to escalate or efficiently communicate appropriate exposures to senior claims management and other internal business partners, as needed. Keeps current on state/territory regulations and issues industry activity and trends. May represent company in industry trade groups or other important events involving external business partners and clients. Mentors and guides less experienced claims staff and other functional areas. Contributes to the development of claim training. Responsible for special claims projects and presentations. Identifies trends in complex claims and settlement strategies and communicates to senior management. May perform additional duties as assigned. Reporting Relationship: Director or above.

Qualification and Experience

The candidate should have Bachelor's degree or equivalent experience. Professional designations preferred. Typically have 10 years claims experience with proven track record of success. A J.D. highly preferred. Must also have experience with mentoring other claim professionals. This position requires strong claims technical knowledge; strong analytical and negotiation skills; excellent verbal and written communication skills; and the ability to act with a sense of urgency. In conjunction with senior level management, this position will work within assigned limits of the broadest authority on assignments requiring the highest degree of technical complexity and coordination. Will have a national or company-wide scope of responsibility within specialty area. The position requires lending significant technical assistance and expertise to underwriting and actuarial on presentations, marketing, and claim trends. Should have the highest level of technical and product specific expertise, claims resolution skill and knowledge of insurance and claims principles, practices and procedures. Must have excellent communication, negotiation and presentation skills. Must have ability to effectively interact with all levels of company's internal and external business partners. Should have excellent analytical and problem solving skills, with the ability to manage multiple projects. Must have ability to exercise independent judgment to effectively evaluate and handle ambiguous situations and issues as well as analyze, distill and communicate important aspects of them succinctly. Should have ability to achieve results by taking a proactive long-term view of business goals and objectives. Knowledge of Microsoft Office Suite and other business-related software and company systems are needed. Should have ability to articulate complex claim facts, issues and analyses in concise presentations to business partners and management as well as in internal reports.

Additional info

ReF: CLA0001O6

Company info

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