Sr Mgr Claims & Risk Management
Location
Camden, NJ | United States
Job description
Share Our Purpose. Be Yourself. Feel Valued.
People are the heart of our business. As an American Water employee, you will be offered a competitive salary and health benefits package, along with opportunities to develop, grow, and evolve your career. Our benefits packages focus on key areas such as health & wellness, emotional & well-being, and savings for current & future goals.
We are Beautifully Different. We strongly believe having diversity across our company makes us more successful and helps us provide essential services to our customers. We are stronger because we embrace different ideas, viewpoints, experiences, and backgrounds. American Water is the best choice for your next role! Click here for more information on our inclusion, diversity, and equity journey.
About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to more than 14 million people across 14 regulated jurisdictions and 18 military installations. American Water’s 6,500 talented professionals leverage their significant expertise and the company’s national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.
As one of the fastest growing utilities in the U.S., American Water expects to invest $30 to $34 billion in infrastructure repairs and replacement, system resiliency and regulated acquisitions over the next 10 years. The company has a long-standing history of executing its core operations, aligned with sustainable best practices, through its commitments to safety, affordability, customer service, protecting the environment, an inclusive workforce and strengthening communities.
American Water has been recognized on the 2023 Bloomberg Gender-Equality Indexfor the fifth consecutive year, ranked 18th on Barron’s 100 Most Sustainable U.S. Companies 2023 List, earned the U.S. Department of Homeland Security SAFETY Act designation and U.S. Environmental Protection Agency’s WaterSense® Excellence Award, among additional state, local and national recognitions.
For more information, visit amwater.com and join American Water on LinkedIn, Facebook, Twitter and Instagram.
Primary Role
The Senior Manager, Claims & Risk Management, will be responsible for evaluating claims management processes, then developing and implementing a strategy for improved claims management. The Senior Manager oversees monitoring, management and coordination of internal and external investigation, analysis and resolution of Property & Casualty insurance claims; mitigation of liability and financial exposure; and recommends/provides settlement authorization of insurance claims. Drive reduction in Total Cost of Risk. The role is responsible for managing the insurance claims team of three professionals. The Senior Manager will assist the Senior Director, Insurance & Risk Management (SDIRM), with execution of the insurance program strategy and other risk management projects.Key Accountabilities
CLAIMS MANAGEMENT
- Oversee and manage all claims operations. Evaluate claims management processes and recommend improvements through development of a strategy to optimize and implement efficient procedures that are value-added.
- Craft and implement a Professional Development and Training program for the claims management team that broadens/adds skills to the roles and Responsibilities of the team.
- Investigate and recommend technology solutions that can enhance the claims reporting and management process, including creation of board-worthy reports on claim trends and costs.
- Monitor and manage insurer and third-party claims administrator investigations, assessments, resolutions and analyses of claims.
- Working closely with in-house counsel, defense counsel, broker, and insurer/TPA, recommend courses of action, including litigation management, in developing an affirmative defense, mitigating liability, and valuation of claims toward economical settlement or final disposition of third-party claims. Support Workers’ Compensation Analyst (on the Leave Programs Team) in similar analysis and decision-making, especially with litigated claims.
- Lead, manage, supervise, and guide the claims team and local operations management of 14 state-regulated subsidiaries, two non-regulated divisions, and corporate, in collection of facts, witnesses, and data towards initial reporting of claim to the insurer.
- Drive a collaborative culture where Claims/Risk Management proactively partners with management and other relevant practices with continued and open dialogue toward claim frequency and severity mitigation, as well as fostering a risk-considered culture.
- Evaluate, recommend and obtain settlement authorizations from Senior Director, Insurance & Risk Management, as needed.
- Report and communicate recommendations stemming from claim events to operations management and internal health and safety professionals toward risk improvement and mitigation of future claims.
- Liaise with Workers’ Compensation Claims Analyst, as necessary, in reviewing Workers’ Compensation claims, especially those requiring settlement authority.
RISK MANAGEMENT
- Assist SDIRM in leading efforts to lower enterprise risks through effective communication and education to business groups. Assist in designing and implementing insurance and risk management policies and practices.
- Provide contractual advice on insurance provisions to supply chain through evaluation of contract purpose, including consideration of exceptions to minimum insurance coverage and limit guidelines. Periodically review contractual insurance requirements for contractors, vendors and suppliers.
- Actively liaise with and educate state operations, accounting, financial services organizations and other key stakeholders.
- Develop and maintain relationships with claims executives of insurance companies, brokers, and TPA’s utilized by the company and those that may be considered for future relationships.
- Support SDIRM, as needed, on special projects related to improving the company’s risk profile, risk management practices, and RM department service delivery, including consideration, evaluation, and implementation of technology solutions. Knowledge/Skills
- Experience in claims management within an insurance company, insurance broker or corporate risk management claims organization.
- Supervisory skills including training and development of claims analysts.
- Excellent oral and written communication skills.
- Proficiency in computer skills as well as ability to use more advanced analytical and program evaluation skills including accessing and creating reports from insurers online claims data base.
- Experience leading an insurance claims management program and team.
- Knowledge of and experience with water utility and related services business risks preferred.
- Proficiency with Microsoft products and knowledge of eCARMA and RISKTRAC.
- Thorough understanding of casualty insurance policy coverage, terms, conditions and exclusions including Commercial General Liability,
- Business Auto Liability, Workers Compensation and Umbrella Excess Liability. Knowledge of Property, Pollution, and other insurance will be an asset.
- Knowledge of federal, state and local laws, regulations and tariffs applicable to utilities.Experience/Education
- Minimum of Bachelor's degree required. Major/Concentration in Insurance/Risk Management, Law, or Finance degree preferred, from an accredited college/university.
- Ten (10) years general experience in risk management, preferably in the utility industry, including five (5) years in insurance claims management. Minimum five (5) years supervisory experience required.Travel Requirements
- Approximately 10%Certifications & Licenses
- AIC, AIC-M, ARM, and/or CPCU designations will get preferenceWork Environment
- Standard Office Environment/Minimum 3 days/week in office in Camden, NJ.CompetenciesChampions safetyCultivates innovationCollaboratesCustomer obsessedDrives ResultsNimble learning
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