2VP, Residual Markets

The Travelers Companies, Inc   •  

Hartford, CT

Industry: Finance & Insurance

  •  

5 - 7 years

Posted 42 days ago

Job Summary

Provides guidance to the Workers' Compensation residual market service partners as well as several home office unit efforts to cost-effectively maximize compliance of the business it services while meeting the statutory and contractual requirements of the WC residual market Plans. Responsible for keeping RMD up-to-date regarding statutory and regulatory changes affecting contracts serviced by RMD. Responsible for providing strong leadership by developing and executing effective business planning in support of the pursuit and management of delinquent policyholder accounts that have been referred to collections as well as the vendor relationships that result from these activities; managing litigation related to RMD's claim coverage investigations; managing the bid process for business development & retention; and management of information systems.


Participates as an active member of the RMD management team and provides the thought leadership for data utilization across RMD. This position is a manager responsible for setting work objectives and goals for employees; managing their performance and making compensation decisions. The position has 3 direct reports and 8 indirect reports.

Primary Job Duties & Responsibilities

Provides leadership and direction, establishes objectives, monitors results and oversee the training, development, motivation and staff for the following RMD functions:


Collections:

Managing Special Collections unit within RMD responsible for the effective handling of assigned bankruptcy, litigation or collection problem accounts. Providing oversight with respect to managing contractual and operational relationships with RMD's outside collection agencies. Meet all NCCI operational metrics necessary to allow for the recovery of legal expenses on delinquent accounts.


Claim Coverage:

Managing RMD claim coverage investigation and litigation activities. Providing oversight to issues involving claim coverage, and managing legal activities associated with denials and recovery of legal expenses as permitted by contract. Meet significant reporting requirements of NCCI to remain eligible to receive reimbursement of expenses.


Information Systems:

Oversee the demand management process and systems changes for policy decisions (RQI), TravStation (transaction manager), Doc Station (form letter repository) and Reporting Database to ensure system changes are delivered timely and accurately. Partner with IT to simplify RMD legacy system footprint. Streamline the use of AT2 assets so that they seamlessly support workflows.


Business Retention & Development:

Oversee the identification and pursuit of new business opportunities for RMD. Interacts and maintains relationships with regulators and other identified key external constituents. Participates as needed with bid response development team to structure appropriate plans of operation that maximize RMD success on bids. Develop comprehensive presentations of RMD's unique capabilities in order to differentiate Travelers services and become the carrier of choice.


Provides thought leadership as well as drives the practical implementation for data utilization across RMD. This includes identifying ways to leverage data by making it usable, accessible, and appropriately sourced, thus enabling effective, efficient business decision making.


Works effectively across all RMD business units to identify their data needs and identify opportunities from across the enterprise which have the potential for adoption within RMD. Once identified work with appropriate groups to implement data strategies within RMD.


Participates as an active member of the RMD management team in developing and promoting the reputation of RMD in the marketplace by strategically serving on industry committees, contributing to marketing presentations, and cultivating available networking opportunities.


Provides input and guidance to RMD service operations in the development of training materials that are related to underwriting, compliance, fraud and claim coverage investigation activities.


Perform other duties as assigned.

Minimum Qualifications

6 years of worker's compensation experience is required. 3 years of management experience is required.

Education, Work Experience & Knowledge

College degree and/or extensive prior work experience in a related field such as underwriting, claim is preferred. Expert knowledge of Workers' Compensation products. Familiarity with WC underwriting practices. Working knowledge of financial analysis. Computer literate, especially with regard to claim, underwriting, premium audit systems, and Microsoft Office products; internet proficient.

Job Specific & Technical Skills & Competencies

Makes effective and persuasive oral (e.g. one-on-one, group, etc.) and written presentations. Able to present subjects clearly to both technical and non-technical audiences with ideas that are concise and logical. Interacts tactfully and effectively at different levels and with different audiences (sometimes in difficult situations.). Utilizes a win-win style of negotiating to resolve disputes. Represents the unit, department, P/C organization, company, etc. in a positive and professional manner.


Leadership: Strong strategic thinker and decision maker. Establishes and maintains an environment that encourages everyone to act in the best interest of the company. Consistently sets clear direction by defining goals and priorities. Demonstrates initiative and innovation in achieving results.


Management: Recognizes and selects highly talented professionals. Effectively coaches and develops staff through mentoring, meetings, example and delegation of responsibility. Understands the business and responds to all related issues, concerns and problems. Manages major projects having broad impact on the bottom line. Maintains a positive achievement oriented attitude and influences others to do the same.


Interpersonal Skills: Takes responsibility for own performance and development. Works independently and in a team environment. Establishes and maintains effective work relationships.


Decision Making/Problem Solving: Evaluates information needs and makes the right choice of approach to meeting those needs. Routinely takes initiative to identify issues and solve problems, thoroughly analyzes information and makes timely, practical decisions and recommendations.


Financial Acumen: Understands the business objectives and acts in a decisive manner to achieve financial results.


Customer Focus: Demonstrates a strong knowledge of internal and external conditions that have the potential to affect customer service levels. Acts with a sense of urgency.


Technology: Identifies opportunities for and implements the use of technology to improve efficiency and quality.


Alliance Building/Teamwork: Establishes/promotes strong coalitions and networks within and outside of the division and company. Builds and maintains successful relationships within the company and with external contacts (or within and across organizational lines). Builds relationships to secure necessary resources not under his/her personal control.

Physical Requirements

Incumbent works in a typical office environment

Approximately 15% travel will be required.

Equal Employment Opportunity Statement

Travelers is an equal opportunity employer.