Job Description

Great American's Bond Division has been underwriting surety and fidelity bonds for over 90 years. Great American is known for expert underwriting, solid financial strength, market leadership and creative solutions to all bonding needs. With a highly diverse product line, Great American is one of the top surety companies in the United States.

Our Claims division is looking for a Contract Surety Claims Manager/Senior Contract Surety Claims Manager to join the claims team in our Cincinnati, OH office. This position is open to remote work for candidates outside of Cincinnati, OH.

Essential Job Functions and Responsibilities:

Handles Contract Surety claims of high complexity/exposure as well as supervises direct reports’ activities within the Bond Claims department. Shall both directly handle and supervise direct reports as to:

• Investigates, evaluates and adjusts Contract Surety claims:
• Reviews and evaluates coverage and/or liability.
• Secures necessary information (i.e., reports, bonds, credit limits, policies, appraisals, releases, statements, contracts or other documents) to assist in the investigation of claims.
• Retains and directs approved consultants and outside counsel. Responsible for maintaining cost controls and overseeing the work of outside counsel.
• Determines available avenues of recovery and their cost-effectiveness; coordinates approved recovery effort.
• Establishes and maintains proper loss, salvage and subrogation reserves.
• Prepares periodic claims reports and financial evaluations.
• Affects settlements/reserves within prescribed limits and submits recommendations to supervisor on cases exceeding personal authority.
• Ensures that claims payments are issued in a timely and accurate manner.
• Ensures compliance of claims handling pursuant to all state, legal, statutory, and regulatory bodies to comply with all company procedures and requirements.
• Manage and advise a team of Adjusters on involved cases and extend settlement authority to Adjusters as necessary after reviewing case files.
• May establish reserves and make recommendations to Senior Management on cases exceeding personal authority.
• Participates in management administration functions, such as SOX (Sarbanes Oxley) Compliance, SOX Testing, Budget Analysis, and Budget Preparation.
• Prepares analytical reports, including Exposure Analysis, Re-Insurance and Pricing Treaty.
• As directed, may assist Underwriting, Marketing, Risk Management, and Loss Prevention with projects, including evaluating potential new business.
• Ensures that the team meets performance targets.
• Responsible for performance and coaching of staff and decisions regarding talent selection, development, and performance management. Ensures new members of the team receive proper training.
• Performs other duties as assigned.

Job Requirements

• Bachelor’s Degree or equivalent experience.
• Business, Liberal Arts, Finance or a related discipline.
• Generally, 5 to 10 years of Surety Bond claims experience.

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