What are the responsibilities and job description for the Assistant Claims Manager, Runoff Operations position at Factory Mutual Insurance Company?
Overview
FM is a leading property insurer of the world's largest businesses, providing more than one-third of FORTUNE 1000-size companies with engineering-based risk management and property insurance solutions. FM helps clients maintain continuity in their business operations by drawing upon state-of-the-art loss-prevention engineering and research; risk management skills and support services; tailored risk transfer capabilities; and superior financial strength. To do so, we rely on a dynamic, culturally diverse group of employees, working in more than 100 countries, in various challenging roles.
The primary responsibility of this position is to assist the Manager, Runoff Operations in supervising and directing the Runoff Operations claims function and to assist the manager in the day-to-day operations of the Runoff claims function. It also supports the Runoff Operations manager by ensuring that the claims handling processes within Runoff Operations are operating efficiently and in keeping with company procedures, and that appropriate reserves are in place to protect the company’s bottom line.
Schedule & Location:This position is an exempt, full-time office-based position working 5 days each week Monday-Friday in Waltham, MA. This position may be eligible for one remote day per week on either Tuesday or Friday, based on business needs. Up to 5% occasional domestic travel is required.
Responsibilities
- Reviews and approves claim payments and/or reserve changes submitted for review by claims examiners. Oversees claims workflow to ensure that all deadlines are met; assigns claim loads to claims examiners. Assists in creating and issuing various reports to senior management.
- Assumes responsibility for a claim load, both assumed reinsurance and direct casualty. Initiates and directs the investigation and resolution of complex coverage issues. Interprets and executes claims policies and procedures.
- Provides direction and feedback to direct reports regarding job performance and career development objectives. Assists the Runoff Operations Manager with management and development of claims staff. Recruits and trains new claims employees.
- Assists the Runoff Operations manager in the retention and supervision of auditors, consultants, and attorneys; works with them to develop solutions to complex claim disputes.
- Leads or participates in special projects as needed.
Qualifications
Required Education:
• 4-year bachelor’s degree in business administration
Highly Preferred Education:
• Professional certification (CPCU, ARe, AIC)
Required Work Experience:
• 5 years’ work experience in casualty insurance claims
• Reinsurance experience is essential, discontinued lines experience preferred
Required Skills:
• Leadership and supervisory skills
• Excellent communication and analysis skills
• Advanced knowledge of insurance and reinsurance principles
• Ability to work independently
The annual salary for this position is $100,400–$144,300 and will be determined based on individual qualifications. Employees enjoy a comprehensive Total Rewards program, including incentives, health and well-being programs, retirement plans, career development, tuition reimbursement, flexible work options, and more!
FM is an Equal Opportunity Employer and is committed to attracting, developing, and retaining a diverse workforce.
Salary : $100,400 - $144,300
