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Flagstar Bank · 23 hours ago

Corporate Insurance Claims Manager

Buffalo-Niagara Area

Full-time

Onsite

Mid, Senior Level

$77K/yr - $128K/yr

6+ years exp

Flagstar Bank is a financial institution seeking a Corporate Insurance Claims Manager to oversee their Corporate Insurance Program. This role involves managing policy and claims administration tasks, ensuring compliance, and responding to inquiries regarding the insurance program.

BankingFinanceFinancial Services

Responsibilities

Manages claims administration process relating to the Company’s Property and Casualty insurance program, from First Notice of Loss through to completion, including (2) receiving, investigating, filing and logging Incident Reports and related documentation, (2) performing claims analysis to determine trends, identify root causes, and address recurrence and prevention of unexpected incidents that may result in injury to employees and/or customers, and (3) identification of remedial measures and loss control efforts. When requested, writes summaries of same, and prepares correspondence, memoranda, and reports utilizing word processing and spreadsheet systems. Additionally, assists in oversight of Workers Comp claims (which are primarily managed by the Bank’s Human Resources – Benefits Group). Tasks relating to managing P&C claims include without limitation:

Obtaining details relating to an incident (including date, location, and extent of damage)

Responding to carrier’s request for additional documentation

Assisting the Director in management of any litigation relating to the Company’s P&C insurance program, including, without limitation, receiving and reviewing Summons and Complaints alleging negligence and forwarding same to appropriate insurance broker or insurance carrier for acknowledgment and assignment to an attorney, retrieving and organizing information relating to the occurrence and sending same to the outside defense attorney, identifying document custodians, drafting and sending out litigation hold letters, and tracking receipt of certifications, responding to discovery requests and interrogatories, etc., and ensuring all pleading deadlines are met; acting as liaison between outside defense attorney, the branches, and the Corporate Real Estate Services Departments, including arranging for interviews and scheduling depositions and deposition prep sessions; reviewing attorney status reports and updating slip and fall litigation logs; and keeping tracking spreadsheets of same

Responds to requests seeking information regarding the Company’s Corporate Insurance Program, including requests from auditors, regulators, other Flagstar business units, landlords and others. This responsibility includes management of issuance of Certificates of Insurance (COI) for all lines of coverage by Brokers at renewal and/or midterm. Tasks include, without limitation, reviewing leases to determine what insurance information should be included in COIs, ordering COIs from insurance brokers, reviewing COIs for completeness, accuracy, and conformance to contractual requirements, as well as maintaining and updating tracking spreadsheets and files

Performs miscellaneous administrative/ministerial tasks, such as filing insurance policies for all lines, ensuring that premium and other invoices are timely paid and logged, responding to internal governance and related requests (e.g. Archer ERM submissions, BCP submissions, Operational Risk Reporting, Record Retention questions), updating procedures and lists of same, and miscellaneous filing, including, without limitation, filing and tracking claims made under the Company’s Employment Practices Liability Insurance Policy and filing and tracking renewals of bonds in Company’s Surety Bond Program

Assists in procurement of insurance policies including gathering underwriting information from relevant business operations, analyzing data, completing renewal applications, and responding to requests for follow-up information from brokers and underwriters, including without limitation responding timely to risk assessments conducted by insurance carriers

Mentors and assists junior level personnel

Performs special projects, and additional duties and responsibilities as required

Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings. Accountable to maintain compliance with applicable federal, state and local laws and regulations

Qualification

Claims administrationInsurance products knowledgeMS ExcelMS WordSharePointAnalytical skillsProblem-solving skillsOrganizational skillsCommunication skillsInterpersonal skills