Job Title: AVP, Claims Counsel, FI
Job Responsibilities:
- Manage claims arising from or involving policies issued by the Financial Institutions (FI) team.
- Handle US FI claims and related systems and processes.
- Evaluate exposures and make substantive claim decisions for US FI claims and other lines of business when necessary.
- Provide coverage, liability, and damages analysis for complex FI Errors & Omissions (E&O) and Directors & Officers (D&O) claims, including those involving Private Equity, Hedge Funds, Investment Managers, Lending, and other Non-Standard directors and officers and/or professional liability product offerings.
- Identify trends and exposures that may affect the FI portfolio.
- Comprehend and analyze sophisticated or complex corporate structures inherent to Insureds.
- Support underwriting with legal review and policy drafting.
- Ensure timely and accurate reporting of exposure to underwriting and management.
- Prepare and disseminate appropriate narrative and arithmetic reports in a timely manner.
- Contribute to the success of the Global Claims Team by working closely with colleagues worldwide on various projects as directed by management and other members of the Executive Team. This may include attending industry conferences, possibly as a speaker/presenter, publishing on current claim trends and issues, and assisting other offices on complex claims.
- Communicate with and support underwriting and other functional groups within the organization.
- Perform other duties as required by management.
- Some travel is required.
Education and Experience Information:
- Law degree required.
- Minimum of 10 years of experience in FI E&O and D&O claims handling or related litigation with a career history of increasing responsibility.
- Preference for experience at both a law firm and with an insurance carrier.
- Strong preference for candidates who have pursued or are pursuing an insurance-related designation such as RPLU or CPCU.
- Direct handling of complex high-profile/high-exposure management liability and related claims with an emphasis on evaluating, handling, negotiating, and settling complex matters with exposures in excess of $10 million.
- Meaningful legal review experience and policy drafting experience.
- Demonstrated ability to establish close working relationships with other departments, including underwriting and actuarial.
- Strong negotiating, analytical, written, and organizational skills with relevant mediation experience.
- Excellent marketing and communication skills.
- Strong computer skills, including proficiency in MS Word, Excel, Outlook, and various in-house claims systems such as Guidewire, Genius, and ImageRight.
Salary Information:
- Salary Range: $135,000 – $195,000. Actual compensation will depend on several factors including the cost of living associated with the work location, qualifications, skills, competencies, and relevant experience.
Sompo recognizes the talent, skills, and commitment of employees as key drivers of success. The company offers competitive, high-quality compensation and benefit programs to eligible employees. The compensation program is based on a pay-for-performance culture, resulting in higher incentive awards when the company performs well and lower awards when it underperforms. Total compensation for regular, full-time employees is a combination of base salary and incentives adjusted upfront based on overall company performance, with final awards based on individual performance.
The company continuously evaluates and updates benefit programs to remain competitive and meet the needs of employees and their dependents. Current comprehensive . benefit programs include:
- Two medical plans, including a Traditional PPO and a Consumer Driven Health Plan with a Health Savings account and competitive employer contributions.
- Pharmacy benefits with mail order options.
- Dental benefits, including orthodontia benefits for adults and children.
- Vision benefits.
- Health Care and Dependent Care Flexible Spending Accounts.
- Company-paid Life & AD&D benefits, with the option to purchase Supplemental life coverage for employees, spouses, and children.
- Company-paid Disability benefits with competitive salary continuation payments.
- 401(k) Retirement Savings Plan with competitive employer contributions.
- Competitive paid-time-off programs, including company-paid holidays.
- Competitive Parental Leave Benefits and Adoption Assistance program.
- Employee Assistance Program.
- Tax-Free Commuter Benefit.
- Tuition Reimbursement and Professional Qualification benefits.
Sompo stands for ethics and integrity, believing that core values drive success and that when relationships are held in high regard, anything can be accomplished. The company is an equal opportunity employer that values inclusion and diversity, committed to equal opportunities without discrimination based on race, color, religion, sex orientation, national origin, or age.
