Sr Associate, Claims Director (Hybrid)

Fortitude Re is a liability-led reinsurer of legacy insurance portfolios complemented by sophisticated investment capabilities. In 2016, AIG created a “Legacy” portfolio as a separate non-core segment representing insurance reserves associated with discontinued lines of commercial Property & Casualty and Life & Annuity insurance businesses. The following year, AIG formed a Bermuda-domiciled composite reinsurer, now Fortitude Re, to house the Legacy portfolio in a separate, distinct, well-capitalized balance sheet with a dedicated management team. In 2018, the company entered into a series of L&A and P&C reinsurance transactions with AIG and received an initial capitalization of ~$3 BN. The transactions represented ~$37 BN of reserves supported by ~$40 BN of invested assets. During this time, AIG also entered into a long-term partnership with The Carlyle Group, with Carlyle acquiring 19.9 % ownership. Then in 2019, The Carlyle Group and T&D announced acquisition of majority interest in Fortitude Re from AIG. This allowed for a new long-term shareholder base for the company while maintaining a strong capital position for supporting reinsurance obligations. Click here for more information about Fortitude Re.

Essential Functions:

1. Hire, manage, and coach a team of 10 to 15 claims examiners
2. Manage team workload, projects, and priorities to ensure contractual SLAs and regulatory requirements are met
3. Ensure individual team members are meeting productivity, time compliance, and quality metrics by creating appropriate goals, managing expectations, and managing individual performance
4. Review claims that exceed examiners individual approval limits, legal referrals, and denial recommendations
5. Approve claims up to $ 2,050,000.00
6. Prepare, validate, and review claims documentation and data for audits, market conduct exams, and legal cases
7. Create reports as needed to aid in the management of volumes and forecasting
8. Assist with training and updating training documentation, as needed
9. Assist with system testing as needed
10. Assist in the oversight of TPAs and claims vendors
11. Assist leadership with budget duties
12. Assist/Manage Special projects as needed

Requirements:

1. Experience may be substituted for the education. Experience with life and health claims is highly desired
2. Demonstrated success in previous roles with a progression in responsibilities and direct experience managing individuals and/or projects to meet goals/objectives
3. Must have knowledge of products, general claims practices, and regulatory requirements or demonstrate the ability to learn quickly
4. Must have strong analytical skills and the ability to use sound judgement in non-routine situations
5. and strong interpersonal skills are required
6. Proficiency with Microsoft Office products