Avp, Surety Claims

As a leading provider of insurance and reinsurance with worldwide operations and employees in Bermuda, U.S., U.K., Continental Europe and Asia, we recognize that our success is derived directly from those who matter the most: our people. At Sompo International, our values of integrity, collaboration, agility, execution and excellence underpin our culture and our commitment to providing an employee experience that attracts and engages the best talent in the industry. As we continue to grow, we strive to find diverse, innovative and driven professionals to join our teams and offer a broad range of career and development opportunities at all levels, in multiple business areas, in each of our locations throughout the world. Our compensation and benefits programs are market driven and competitive, with excellent family friendly policies and flexible working provisions.

Job Description

We are seeking an Assistant Vice President, Surety Claims based out of Nashville, TN, Mt. Juliet, TN, New York, NY, Morristown, NJ, or Chicago, IL. The Assistant Vice President, Surety Claims will provide technical claim management and guidance for our largest and most complex Surety claims consisting of performance bonds within the classes of business consisting of Coal, Oil and Gas Reclamation bonds, Contract bonds, Commercial bonds, Subdivision bonds, License and Permit bonds, SBA bond program, Closure and Post Closure bonds and other similar types of surety bonds. This position will report either to the Head of Surety Claims or a Vice President of Surety Claims.

Duties and Responsibilities:

• Evaluate exposures and make substantive claim decisions for US Surety claims.

• Conduct coverage, liability, and damages analysis for complex Surety claims.

• Drive strategy and project management to mitigate exposures in performance bond matters.

• Work in collaboration with underwriting and Senior Management in mitigating risks to the company and delivering cost effective solutions to remedy complex loss matters.

• Deliver timely and insightful Large Loss and Reinsurance reports specific to large loss matters.

• Work with Actuary, Cede Re, Underwriting, Operations, Finance to ensure timely reporting on trends, reserves, and collateral management.

• Provide technical guidance and training to the claim team and junior claim staff.

• Work closely with your colleagues worldwide on various projects as directed by the Claims; Leadership Team, including attending various industry conferences, possibly as a speaker/presenter, publishing on current claim trends and issues and assisting other offices on complex claims.

• Collaborate with and support underwriting and other functional groups within the organization.

• Other duties as required by management.

• Travel as required.

Skills & Qualifications:

• Minimum of 15 years' experience required in Surety claims handling with a career history of increasing responsibility.

• Law degree preferred.

• Strong preference for candidate who has pursued or is in the process of pursuing an insurance related designation, e.g., CPCU.

• Management experience as team leader or technical oversight of Surety claims personnel required.

• Direct handling of complex high profile/high exposure Surety claims with an emphasis on evaluating, handling, negotiating, and settling complex matters with exposures in excess of $10M.

• Experience handling all types of Surety claims.

• Meaningful experience in reviewing legal documents (settlement, motions, complaints, etc.) and contract and surety bond drafting experience.

• Demonstrated ability to establish close working relationship with other departments including underwriting, accounting, finance, operations, information technology and actuary.

• Strong negotiating, analytical, written, and organizational skills.

• Excellent management, marketing, and communication skills.

• Strong computer skills (MS Word, Excel, Outlook, and various in-house claims systems -Guidewire, Genius, ImageRight is a plus).

Salary Range: $120,000 - $170,000 Actual compensation for this role will depend on several factors including the cost of living associated with your work location, your qualifications, skills, competencies, and relevant experience.

At Sompo International, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees.

Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.

We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents. Below is a summary of our current comprehensive U.S. benefit programs:

• Two medical plans to choose from, including a Traditional PPO & a Consumer Driven Health Plan with a Health Savings account providing a competitive employer contribution.

• Pharmacy benefits with mail order options.

• Dental benefits including orthodontia benefits for adults and children.

• Vision benefits.

• Health Care & Dependent Care Flexible Spending Accounts.

• Company-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & children.

• Company-paid Disability benefits with very 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 & Adoption Assistance program

• Employee Assistance Program

• Tax-Free Commuter Benefit

• Tuition Reimbursement & Professional Qualification benefits.

• Sompo International offers a competitive compensation and benefits package.

Sompo International is an equal opportunity employer committed to a diverse workforce. M/F/D/V

Visit our website at www.sompo-intl.com