Claim Executive/Counsel

Claim Executive/CounselCommitted.  Competitive.  Constructing our Future.  That's Travelers. We are one of the leading insurance companies in the United States.  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. We are currently looking for a Claim Executive/Counsel.  Please read on for more details regarding this position. JOB DESCRIPTION: RESPONSIBILITIES1. Within authority limit, thoroughly analyze, investigate, negotiate and resolve moderate severity Bond & Financial Products Claims with moderate supervision by claims management.2. Make appropriate decisions within own claim authority and make appropriate recommendations to management when necessary.3. Comply with all policies and procedures, including compliance, regulatory and Bond performance and customer service standards.  4. Accountable for accurate documentation/information in claim file and Bond & Financial Products Claim Management System and adhere to Claim documentation standards 5. Prepare management reports to accurately reflect loss development, potential/actual financial exposure, coverage issues, claim and recovery strategies.6. Identify salvage opportunities in the earliest stages of claim development and coordinate recovery efforts with the Salvage Unit and Claim management.  7. Within authority limit, retain, monitor, manage and approve payments to outside counsel on routine litigation matters, actively utilizing litigation management plans and budgets. 8. Within authority limit, make sound decisions and negotiate terms and conditions consistent with Bond standards.9. Solicit input and guidance from management when resolving claims which are beyond authority level. Communicate reserve adjustments to underwriting.10. Assist/mentor less experienced colleagues in claim resolutions.11. Maintain knowledge of coverage, law, legislative and industry-related initiatives and judicial trends.12. Provide legal support to underwriting and claim business product line (Claim Counsel position). COMPETENCIES - LEADERSHIP1. Set clear direction by defining goals and priorities.2. Take ownership and responsibility for decisions and outcomes.3. Share success with the team.4. Professional image.5. Respect and trust of colleagues.6. Well organized.7. Meet deadlines.8. Consistently demonstrate integrity, initiative and innovation in achieving results.9. Take accountability for development10. Sense of urgency.11. Self-motivated. COMPETENCIES - COMMUNICATION1. Strong communication (written and verbal), influencing, negotiating, listening and interpersonal skills to effectively develop productive internal and external relationships.2. Effectively communicates and collaborates with colleagues on team, market segment, Home Office and Field Offices.3. Ability to communicate decisions.  Assistance is required to deliver more difficult messages.  4. Presents a positive, professional image of the company through demonstrated expertise and knowledge of the company, its products and services.5. Influences others through sound judgment and decision making. COMPETENCIES - TEAMWORK1. Builds and maintains effective working relationships with peers and managers within and across organizational lines.2. Developing ability to build strong teams of internal and external resources that are technically competent and characterized by a high level of coordination and trust to resolve claim matters.3. Balances individual needs with market segment goals and fosters cooperation throughout the team.4. Works with peers to resolve issues by listening for understanding, discussing all issues related to the situation, and coming to a solution.5. Attends industry functions to increase visibility in the marketplace and increase knowledge of the industry. COMPETENCIES - TECHNICAL ABILITY1. Knowledge of moderately complex claims (e.g. non-routine, multi-party litigation).2. Legal expertise in all aspects of the business and products.3. Assures compliance with litigation management and budgeting plans, including fee audit.4. Develops legal and claim strategies and implements within limits of authority.5. Ability to use Bond technology tools proficiently.6. For Claim Counsel position - Law degree from accredited institution.  Bar admission in at least one jurisdiction. In addition to an exciting environment, we offer: * Competitive base salary with additional opportunities for variable pay through recognition programs and incentive awards * 401(k) with company match* Comprehensive health plans that include coverage for same sex/domestic partners* Strong work/family and employee assistance programs* Tuition reimbursement * Vacation Purchase Plan* Training/Development opportunities We are proud to provide comprehensive, high quality employee programs to meet employees' needs now and in the future, including a very competitive financial package. Explore what we have to offer.  For immediate consideration for this position, please click on the "Apply Now" button at the bottom of this posting.  Travelers is an equal opportunity employer. We actively promote a drug-free workplace.   Company: Travelers Companies, Inc.