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Assistant Claims Manager, Runoff Operations

Job ID 2024-15182 Date posted 11/01/2024 Primary Location Waltham, Massachusetts Hiring Range: $100,400 - $144,300 Workstyle On-Site
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Overview

As a mutual insurance company, we believe our corporate structure allows us to invest for the long-term with a focus on investment fundamentals rather than short-term market volatility. We achieve this through internal and externally managed strategies across a variety of markets and styles that best allow us to preserve and grow the company's capital.

  • Full Time

    Full Time

  • Level: Mid

    Level: Mid

  • Travel: Yes

    Travel: Yes

Success Profile

What makes a successful Investments team member at FM?
Check out the top traits we're looking for and see if you have the right mix.

  • Detail Oriented
  • Driven / Self-Starter
  • Excellent Communicator
  • Collaborative
  • Creative Thinker
  • Diligent

Testimonial

As CIO, I strongly believe that top talent, subject matter expertise - bottom up and top down, collaboration and seamless execution will define our long-term success towards excellence in investment management.

We have embarked on an exciting journey to further build a top-notch sophisticated investment management framework, focusing on excellence in portfolio management, best practices processes and top talent -- onboarding, developing and retaining. We are based in the greater Boston area, an absolutely vibrant eco-system for investment management. We are adding to our Insurance investments team in the areas of risk and performance analytics, multi-asset investments including equities & fixed income, and insurance investments risk management. We are also adding mid-level talent to the Pension Investments team for the Defined Benefit (open plan) and Defined Contribution plan.

Sanjay – Chief Investment Officer – Employee Since 2018
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Benefits

Responsibilities

FM is a leading property insurer of the world's largest businesses, providing more than one-third of FORTUNE 1000-size companies with engineering-based risk management and property insurance solutions. FM helps clients maintain continuity in their business operations by drawing upon state-of-the-art loss-prevention engineering and research; risk management skills and support services; tailored risk transfer capabilities; and superior financial strength. To do so, we rely on a dynamic, culturally diverse group of employees, working in more than 100 countries, in various challenging roles.

The primary responsibility of this position is to assist the Manager, Runoff Operations in supervising and directing the Runoff Operations claims function and to assist the manager in the day-to-day operations of the Runoff claims function. It also supports the Runoff Operations manager by ensuring that the claims handling processes within Runoff Operations are operating efficiently and in keeping with company procedures, and that appropriate reserves are in place to protect the company’s bottom line.

Schedule & Location:
This position is an exempt, full-time office-based position working 5 days each week Monday-Friday in Waltham, MA. This position may be eligible for one remote day per week on either Tuesday or Friday, based on business needs. Up to 5% occasional domestic travel is required.


  • Reviews and approves claim payments and/or reserve changes submitted for review by claims examiners. Oversees claims workflow to ensure that all deadlines are met; assigns claim loads to claims examiners. Assists in creating and issuing various reports to senior management.
  • Assumes responsibility for a claim load, both assumed reinsurance and direct casualty. Initiates and directs the investigation and resolution of complex coverage issues. Interprets and executes claims policies and procedures.
  • Provides direction and feedback to direct reports regarding job performance and career development objectives. Assists the Runoff Operations Manager with management and development of claims staff. Recruits and trains new claims employees.
  • Assists the Runoff Operations manager in the retention and supervision of auditors, consultants, and attorneys; works with them to develop solutions to complex claim disputes.
  • Leads or participates in special projects as needed.

Required Education:

• 4-year bachelor’s degree in business administration

Highly Preferred Education:

• Professional certification (CPCU, ARe, AIC)

Required Work Experience:

• 5+ years’ work experience in casualty insurance claims

• Reinsurance experience is essential, discontinued lines experience preferred

Required Skills:

• Leadership and supervisory skills

• Excellent communication and analysis skills

• Advanced knowledge of insurance and reinsurance principles

• Ability to work independently

The annual salary for this position is $100,400–$144,300 and will be determined based on individual qualifications. Employees enjoy a comprehensive Total Rewards program, including incentives, health and well-being programs, retirement plans, career development, tuition reimbursement, flexible work options, and more!

FM is an Equal Opportunity Employer and is committed to attracting, developing, and retaining a diverse workforce.

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