Job Details

Cyber Claim Vendor Management Specialist

Company name

Organization Type

In-House

Job Type

Legal Staff

Valid Through

Aug 17, 2021

Posted on

May 04, 2021

Years of Experience

Min 3 yrs required

Location

Hartford, CT, United States

Employment Type

Full-time

Industry

Legal
Practice Area
Insurance Defense >> Insurance Defense
Litigation >> Litigation - Insurance
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Profile

Cyber Claim Vendor Management Specialist
The candidate will acts as single point of contact on behalf of Cyber Bond Claim to receive, process, and reconcile monthly invoicing from cyber vendors. Will ensures financial transactions are timely and accurately input and are appropriately documented and supported. Identifies key data elements which can be utilized to produce needed analytical information to support actuarial and underwriting strategies and by claim professionals and claim management to monitor and improve the quality of claim handling and litigation management by promoting efficiency. Ensures accurate data is captured at the proper time and in the proper format. Understands the importance of the data and how it is used by Claim and our business partners. Assists with the vetting of cyber vendors and manages a cyber vendor tool designed to manage preferred vendors. Assists in managing vendor relationships. Assists in the development and implementation of tools to optimize management of vendor payment processes; and developing/deploying innovative strategies to more effectively use legal services. Ensures internal and external partners adhere to legal and operational compliance requirements. Provides support to the Bond Claim leadership team and Claim professionals and offers strategies to enable them to adhere to legal and operational compliance requirements. Supervises the preparation of monthly summary reports for Cyber Bond Claim and presents on same to leadership. Assesses all Cyber Bond Claim and Enterprise resources (internal and external) related to billing/vendor management to develop strategic opportunities. Ensures vendor retention agreements comply with business practices. Escalates billing issues to claim staff and management. Maintains accurate billing records using expense management system. Provides internal and external communication surrounding invoice adjustments and questions. Identifies persistent bill processing issues and proactively elevates issues to manager. Assists in developing and implementing more streamlined billing processes. Assists with forming strategic partnerships with key vendors to increase efficiency and reduce ALAE/ULAE.

Qualification and Experience

The candidate should have BA or BS degree or 3+ years of equivalent relevant experience required. Degree in finance, accounting, paralegal studies, or claims handling experience preferred. Strong proficiency in Microsoft Office including Access, Excel, PowerPoint, Outlook, and Word is required. Must have working knowledge of analytics, finance, and project management.

Additional info

Job ID: R-6681

Company info

Hiring Coordinator
The Travelers Indemnity Company.
One Tower Square
1MN
Hartford, CT 06183

Review:

"Possibly a Perfect Workplace"

Current Employee - Reviewed on December 16, 2017

Remind people that socializing is optional and keep people from stressing from it too much but also encourage those that want to join in to do so.

Pros : Not only is everyone here paid fairly but everyone just seems to get along and is fairly relaxed. It would be in character for most people to say hello outside of work and just chat.
Cons : Some people may hate the forced feeling of interacting with co-workers outside of normal work hours if they have a hard time with dealing with people.
Current or former employee? : Current Employee

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