Head of Claims Governance

Location
Princeton , United States

Your job

We’re adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients. We will consider a range of reinsurance and/or relevant insurance experience for this role and the offer will be commensurate with that.

The Company

As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive – from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products. Munich Re America Services (MRAS) is a shared service organization that delivers services to all Munich Re US P&C Companies and other group entities.

The Opportunity
Future focused and always one step ahead

Key to the achievement of our goals to become a digital enterprise which leverages data analytics in order to make decisions about current and future risks, you’ll be empowered and expected to support and add to our culture of innovation and the vision for the future of Claims.

The primary purpose of this role is to have a good claims governance in place and aligned with all the external and internal requirements and up to date guidelines. Also, close collaboration with the Claims Center in Munich and Munich Re’s Global Claims organization promoting stronger ties, interactions, resource sharing, knowledge sharing and efficiencies between intranational multiline claims organizations.

The team consists of direct reports including a Regional Governance Manager responsible for reviews, practices and processes. The role reports to the Head of Claims at MRAS who is also the Chief Claims Officer for Munich Re America (MRAm).

General aspects:

• Develops and implements a strategy for Claims Governance in line with the Global Claims Ambition, the global Claims Governance framework in place reflecting the specific needs of the US P&C Companies (MRUS, MRSI, AMIG, HSB).
• Creates a strong collaboration and partnership with MRAm and other entities of the MR Global Claims.
• Creates a team-oriented environment, leads direct and indirect resources and promotes and encourages change to enhance the process of achieving the department goals as well as local, regional and global objectives and ambitions, both on an individual and team level.
• Serve as a member of the MRAS Claims leadership team and contribute to the general success and strategic direction of the Global Claims Ambition.
• Creates a strong collaboration and partnership with reinsurance and primary claim business units in MRAm including, but not limited to, virtual and in person interactions, exploring commonalities that increase efficiencies and enhance a “One Claim” experience, resource sharing, development etc..
• Close collaboration and interaction with Clams Governance team in Munich.

Governance:

• Create and further enhance comprehensive Claims Guidelines and Work Instructions, standards and processes for Claims Management.
• Ensure up to date Claims authority letters including appropriate levels of authority in the systems.
• Keep Claims Cooperation Guidelines up to date and track deliverables during claims reviews.
• Proactive assessment of impact of legal developments on claims work and amendment of guidelines and work instructions where necessary so that industry specifications, standards, regulations etc. are adequately reflected.
• Risk and Control Self-Assessment (RCSA) – Assess risks and identify potential areas of compliance vulnerability, define and review essential risks of the processes for claims management with regard to compliance, anti-fraud measures and others according to the ORCS Group policy. Manage claim governance and quality assurance projects and programs to ensure claims are always kept in compliance.
• Ensure that the claims business practices and products conform with insurance statutory and regulatory obligations.
• Act as subject matter expert for insurance claims regulatory compliance.
• Manage reporting requirements, regulatory inquiries and investigate complaints; work with regulators on issues as needed.
• Prepare materials and information required in response to internal and external regulatory audits, data calls and surveys and assist in preparing responsive communications. Partner with the business units in preparation for internal and external audits and examinations, including remediation plans resulting from such audits and exams.
• Collaborate with the business to prepare accurate and timely responses to insurance consumer complaints received from various State Insurance Departments, social media, and directly from consumers.
• Develop regional and international governance best practices and a sustainable framework for reflecting future business dynamics.
• Active involvement in claims topic related project work including project lead for prominent topics.
• Training of claims colleagues on specific governance topics.
• Representing Claims interests in cross divisional governance related subjects.

Claim Reviews:

• Annual planning of internal claims review activities
• Conduct claims reviews especially across the US P&C Companies’ claims teams as the review team lead with a focus on Governance, Claims management and processing topics, interface management
• Communication of results including areas for improvement in a professional way orally and in writing
• Partner with Management across Global Claims to understand review tools, process, practices and address issues; active contribution to the Global Claims Review tool project
  

Your profile

Qualifications include:

• College degree or equivalent work experience required
• At least 5 years’ experience in primary and/or reinsurance gained or acquired in claims, audits, relationship management
• At least 5 years’ leadership experience in managerial roles
• Proven record of accomplishment in managing and developing talent
• Good understanding of insurance and reinsurance coverage interpretation, loss reserving, loss report analysis, litigation management and client relationships.
• Good understanding of other functions within the insurance/reinsurance operations (underwriting, , actuarial, accounting, and legal) and respective network within US P&C/Munich Re (MR).
• Expert knowledge of MR global and US P&C insurance and reinsurance claims systems, applications and processes and good network across the MR Group.
• Strategic thinking aimed at being solution oriented and results focused.
• Excellent written, presentation and oral communication skills
• Excels in taking initiative, prioritizing, and working independently to meet deadlines.
• Adept at understanding, embracing, and championing a shared strategy.
• Proficiency with Microsoft software (Word, Outlook, Excel, Power BI) and other computer applications
• US regulatory/compliance insurance experience a plus
• Ability to work independently as well as in a strong team environment.
• Immediate project management skills.

At Munich Re US, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

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About us

Munich Re America Services, Inc. is a services provider to affiliated group companies primarily related to general services, procurement and IT services.