Risk & Insurance Specialist, Vice President, Corporate Finance
The Risk & Insurance Specialist is is responsible for ensuring Comerica's property and casualty insurance programs provide adequate coverage for exposures which could impair the corporation's financial position, including such coverage as: fire, crime, casualty and liability and other risks or exposures distinctive to a banking operation by Taditional Procurement of Corporate contracts to insure the assets and liability of the bank, determine insurance coverage on litigated matters against specific insurance contracts and manage small, non-litigated claims (slips & falls), acting as the liaison between Captive Management and manage the claim process and will engage with operating business units to determine the risks associated with the insurance contracts the bank currently has if they are inadequate to cover potential claims.
- Obtain claim and loss information.
- Review and investigate both litigated and non-itigated claims relative to the corporate casualty, professional liability, and property programs.
- Determine the insurable interest in any claim or potential claim brought against the company and determine appropriate action.
- Coordinate the filing of all claims with outside brokers, consultants, insurance adjusters, legal counsel and other departments.
- Assist in the risk assessment of internal operating business units.
- Identify and control the risk of loss resulting from inadequate or failed internal process, people and systems.
- Maintain the administration of risk management records, which includes the maintenance of insurance policies, renewals of insurance coverage and premium payments.
- Develop working relationships internally with superiors, peers and subordinates and externally with peers to accomplish department and bank goals.
- Ascertain and manage processing needs, including the completion of appropriate loss forms according to individual insurance contracts.
- Conduct research and legal analysis on complex claims with the aid of general and outside legal counsel.
- Assist the risk manager in the coordination of the corporate insurance contract renewal process (i.e. gathering appropriate underwriting data, etc.)
- Make recommendations to management relative to settlement issues.
- Negotiate settlements according to guidelines and parameters set forth by the corporate risk manager.
- Prepare a variety of quarterly and annual reports to management, which summarize risk management operations.
- Administer the preparation, distribution and file maintenance for certificates of insurance that are required to be provided to others.
- May serve as supervisor during absence of the corporate risk manager and oversee some day-to-day activities for one FTE.
- Manage the claim payment process on self-insured programs via the use of a company owned captive.
- Perform other related assignments and special projects as required.
Relocation assistance is not offered for this position. Travel
Travel between 5% to 15% may be required. Qualifications
- Bachelor's degree from an accredited university
- 10 years insurance experience with claims, legal counsel, and brokers
- 8 years claims litigation experience
- 8 years insurance adjustment experience
- 5 years management/supervisory experience
- 5 years corporate risk management experience
8:00am - 5:00pm Monday - Friday