We are one of the leading insurance companies in North America. Our superior financial strength and consistent record of strong operating returns mean security for our customers - and opportunities for our employees. You will find Travelers to be full of energy and a workplace in which you truly can make a difference.
2VP & Counsel, Surety and Warranty Claims
This individual is responsible and accountable for developing the strategy, direction, workflow, and quality of the Surety/Warranty Claim team in Canada. Successful candidates will possess 10+ years in claim, management and insurance experience with advanced knowledge of claim business, and have attained an LLB or Juris Doctor from an accredited law school with typically 6 to 10 years of prior legal experience. This position focuses on efficient and cost effective claim management, develops industry experts from a technical and management perspective and leads underwriting support. Further, this individual is responsible for managing significant litigation that has the potential for high exposure and visibility, while overseeing and evaluating national trends, performing historical reviews on large claims and collaborating with Underwriting and Actuarial in portfolio analysis for market segments or individual products. In addition, this individual will proactively manage tendered litigation to ensure that Travelers Canada’s financial interests are being protected by tendered counsel. Legal responsibilities include reviewing and analyzing bond forms, providing legal advice and risk analysis to Underwriting, and drafting and negotiating indemnity agreements and riders [Surety]. Acts as a Surety/Warranty Ambassador to other Travelers Canada business leaders, agents, brokers and clients and effectively represents the perspective of the business.
This position will report directly to the Head of Claim, Canada, is an extended member of the Enterprise Bond Claim Product team, and will serve on the Canadian Claim Executive Management Team.
RESPONSIBILITIES - CLAIM MANAGEMENT
- Develop, communicate, and execute claim philosophy and strategic initiatives for a market/product segment or region based on the goals of the organization.
- Provide guidance and make decisions on claims where the exposure is open-ended or exceeds the authority limits of employees within the organization. Manage significant litigation that has the potential for high exposure and visibility.
- Oversee and evaluate national trends, perform historical reviews on large claims, and collaborate with underwriting and actuarial in portfolio analysis for the market segment or individual products. Communicate findings to management and make recommendations to ensure the issues are addressed.
- Ensure that senior management, underwriters and actuaries are apprised of high-exposure/high-sensitivity losses, claim trends, legal decisions, and issues which may impact the product lines underwriting philosophy and overall industry.
- Completes approvals of all Large Loss Memos, Quarterly Claim Reports, and other senior management reports for Claim Business Unit or Product/Regional team.
- Establish standards and policies for business line to ensure rigorous management of ALAE & ULAE.
- Within designated authority, approve claims settlements, reserve changes, and expense/indemnity payment requests from direct reports and other unit claims professionals (e.g. BCMS approvals).
- Work with Line VP to develop and communicate the reserve strategy for the Claim Business Unit and ensure case specific reserves are appropriate. Work with Line VP and actuarial on the specific reserve position for the Claim Business Unit or Product/Regional team and high exposure cases (IBNR analysis).
- Lead support to aspects of underwriting relating to indemnity, risk management, collateral, restructuring/unwinding of high risk account(s), bankruptcy matters/run-off coverages, new account(s) and business initiatives, as applicable to the Business Unit.
- Act as the industry expert by identifying and advising management on legal and regulatory issues that have the potential to impact the industry.
- Represent Travelers on sensitive claim matters that involve multiple constituencies or have the potential to gain high visibility inside or outside the company.
- Oversee the selection of panel counsel to ensure that claims are proactively managed consistent with our claim philosophy to ensure that we are obtaining the best financial results for Bond.
- Proactively manage tendered litigation to ensure that Bond financial interests are being protected by tendered counsel.
RESPONSIBILITIES - LEGAL SUPPORT
- Maintain an active license in the state of your principal office location and remain current with all CLE credits.
- Provide oversight and direction for high quality, cost-effective legal support to our business partners by ensuring proper staffing, skill and performance levels of legal team and through mentoring and coaching attorneys on issues presented.
- Review and analyze bond forms and provide legal advice and risk analysis to underwriting.
- Draft and negotiate indemnity agreements and riders [Surety].
- Review complex transactional documents and provide legal advice and risk analysis to business partners.
- Review complex/significant customer contracts and advise underwriting and business partners of legal risks of contract language to Bond.
- Provide legal advice on litigation strategies on all litigation. Manage complex and higher severity litigation.
- Provide research on legal issues for business partners and claim team.
- Draft or lead teams in drafting internal topic documents (e.g., white papers, 50 state surveys, BCCLs).
- Maintain current knowledge of relevant legal issues and trends in the surety/ management liability market place through review of legal publications and attendance at industry events.
RESPONSIBILITIES - STRATEGIC PLANNING/OPERATIONS MANAGEMENT
- Set the tone for Claim with regards to collaboration with Underwriting within designated Claim Business Unit or Product/Regional team.
- Provide oversight and direction for claim handling by ensuring the staffing, skill, and performance levels of employees support the claim volume and severity of claims to be managed.
- Certify Sarbanes-Oxley controls for Claim Business Unit as required and address issues identified during quality assurance process.
- Work with Corporate Communications to respond to media inquiries on issues and claims for business line.
- Represent Travelers as an industry expert at conferences and with outside organizations (i.e. SAA, PLUS, ABA-TIPS, FSLC).
RESPONSIBILITIES - HUMAN RESOURCE MANAGEMENT
- Prepare effective performance and development plans for Managing Directors and/or Managing Claim Counsel/Executives, make final Claim Business Unit or Product/Regional team promotion and authority level recommendations to VP Claim Canada.
- Lead the annual compensation process by communicating corporate goals to the Managing Directors and Managing Claim Counsel/Executives communicate them) and reviewing the overall compensation submission to ensure the goals have met the objectives.
- Coach and collaborate with the Managing Directors and Managing Claim Counsel/Executives in all aspects of human resources, strategic initiatives, and operations.
- Assure effective allocation and utilization of employees across the organization.
- Develop a culture of continuous learning through training, mentoring, and outside courses.
EDUCATION / WORK EXPERIENCE / KNOWLEDGE REQUIRED
- Juris Doctorate; graduate of an accredited law school.
- Typically has 6 to 10 years of prior legal experience.
LICENSING / CERTIFICATES
- Admitted to the Bar in good standing
JOB SPECIFIC COMPETENCIES
COMPETENCIES – COMMUNICATION
- Sets the tone for professional communication relative to both verbal and written communications.
- Proactively communicates to keep employees, management, and customers informed of relevant business line, industry and product issues.
- Possesses excellent listening skills and ability to effectively communicate both internally and externally.
- Possesses strong negotiating and conflict resolution skills.
- Creates a climate where open communication is encouraged and feedback is meaningful, candid and timely.
- Makes effective decisions in all aspects of the job including claim management, operations, strategy, legal, and human resources.
COMPETENCIES - TEAM/INTERPERSONAL/DEVELOPMENT
- Establishes and positively influences working relationships within and across organizational lines.
- Seeks out the perspective of others and gains buy-in on solutions.
- Builds strong teams that are technically competent and characterized by a high level of coordination and trust.
COMPETENCIES - DECISION MAKING
- Makes quick, sound decisions and negotiates terms and conditions.
- Consistently thinks strategically and understands a situation (jurisdictional environment, internal and external Bond relationships) and develops a strategy to achieve the desired outcome.
COMPETENCIES - TECHNICAL ABILITY
- Superior proficiency in all assigned Bond.
- Qualifies for and utilizes highest level of claim authority.
- Advanced/superior analytical skills.
- Uses all Bond technology tools proficiently.
COMPETENCIES - SELF-MANAGEMENT
- Possesses a strong work ethic.
- Ability to overcome obstacles.
- Detail oriented.
- Well organized.
- Meets deadlines.
- Takes accountability for development.
- Takes ownership and responsibility for decisions and outcomes.
- Sense of urgency.
COMPETENCIES - LEADERSHIP - BOND
- Sets the tone for appropriate business ethics and practices within business line.
- Leads by example and reflects an enthusiasm and energy level to motivate others to accomplish goals.
- Accountable for both success and failure and develops a team approach to ensure that each employee understands the impact he/she has on the overall results of the organization.
- Makes tough decisions and fosters an environment for appropriate risk taking amongst the staff.
- Acts as Bond Ambassador to other Travelers business leaders, agents, brokers and clients, and effectively represents the perspective of Bond.
To express interest in a position, complete the internal employment application form and forward to the HR generalist or Talent Acquisition Consultant listed on the posting. Please refer to the Job Posting and Employee Referral Process before applying.
To refer an outside applicant, please send a copy of the applicant’s resume including contact information to the HR Generalist or Talent Acquisition Consultant listed on the posting.
Applicants whose skills and qualifications closely match those required by the job will be considered for an interview and a representative of Travelers will be in contact by phone or email.
We thank all applicants who apply; only those who are selected for an interview will be contacted. Please ensure that you inquire as to what background checks are required for the position. Background checks are required at the final stage of recruitment and prior consent for such background checks will be obtained.