COO- Corporate Insurance - Casualty Claims Associate
Compensation: $101,235.00 - $206,040.00 /year *
Employment Type: Full-Time
Industry: Financial Services - Insurance
Job Description:JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity.The Corporate Insurance Services Department within the JPMorgan Chase & Co. Chief Operating Office reports into the Corporate Sector function and is responsible for global property loss and liability insurance covering the firm. The team is globally responsible for the following functions:* Negotiate, structure and administer worldwide insurance programs for JPMC's businesses and operations for the purpose of providing a level of balance sheet protection against significant accidental losses and compliance with regulatory and third party obligations* Arrange and manage all aspects of Insurance arrangements for the firm including policies issued by:* third party commercial insurers* JPMC's captive, who retains and/or reinsures risk to third parties* Provide advisory services across the organization in connection with property damage and personal injury loss control* Establish guidelines for LOB and Corporate functions to follow when negotiating and making representations related to insurance provisions in agreements with clients, counter-parties, vendors, etc.The successful candidate will be part of a team of claim analysts who will examine claims using a macro approach, looking at overall program results, Third Party Administrator (TPA) performance and compliance with Claim Handling Instructions and individual claim results. Primary responsibilities for this position include the management of workers compensation, general liability and auto liability claims program and property subrogation. This involves working closely with TPA's and bundled carrier programs for current and heritage firms. The candidate will understand and participate in departmental efforts including identification of loss trends, analytical analysis of claims and related loss control opportunities. The candidate will work closely with stakeholders within internal staff functions including Legal / Litigation, Legal Papers Served, Global Real Estate, Global Security, Payroll, Human Resources, Employee Relations, Medical Services, as well as external counterparties and advisors. The candidate will be proficient in Risk Management Information Systems as well as various internal data bases.Responsibilities:* Responsibility for workers compensation, auto and general liability claims program and third party subrogation.* Follow claim handling processes for TPA's, insurers, defense counsel, etc. reflecting JPMC's claim handling philosophy.* Develop working relationships with TPA's, insurers, and defense counsel; and ensure they manage claim strategies and outcomes in accordance with JPMC interests.* Identify, analyze and suggest strategies to new exposures and claim handling techniques.* Work with Claims Manager to produce reports related to loss trends and opportunities.* Identify opportunities and recommend strategies to improve claim trends and lower costs.* Approve reserve and settlements within department guidelines and authority levels; and seek authority from Claims Manager and CIS Senior Management as necessary.* Prepare and participate in claim review meetings with insurers, defense counsel and TPA's.* Understand and enhance work flow issues and interdepartmental processes; be an internal resource for other departments to help them resolve claim / legal questions / issues involving insurance; work closely with Legal and Medical departments developing cohesive processes for claims issues that are jointly managed.* Developing claim and legal knowledge and how to apply it; engage in personal, business and insurance knowledge and creativity; complete seminars, courses, classes, readings.* Prepare and complete Sworn Documents related to claims in accordance with firm and legal guidelines.* Prepare and present to internal colleagues in connection with subject matter expertise.Please note: this role will start at 277 Park Ave but moving to Brooklyn in the 3rd quarter of this year.* Prefer a Bachelors degree with a concentration in business, risk management and/or insurance.* 3-5 years claim handling experience at financial institution, insurance company, TPA, self insured and/or broker.* Basic expertise in operational and technical claims management across commercial insurance lines, including due diligence around claim negotiation and settlement strategies.* Functional knowledge of insurance policy terms and conditions, including ability to devise coverage positions.* Ability to analyze reserving techniques and adequacy.* Knowledge of tort and workers compensation laws, preferable nationwide with emphasis on NY, IL, CA and TX.* Ability to handle complex litigated claims and claims issues.* Ability to direct defense counsel, develop litigation and claim handling strategies.* Excellent oral and written communication skills and interpersonal skills.* CPCU or ARM certifications a plus.* Proficient in Excel, Word and Powerpoint.* Risk Management Information System knowledgePosted by StartWire. 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Associated topics: adjuster, auto, automobile, bodily, casualty, claim adjuster, claim examiner, insurance adjuster, insurance investigator, liability adjuster
* The salary listed in the header is an estimate based on salary data for similar jobs in the same area. Salary or compensation data found in the job description is accurate.
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