Job Description

Position Overview:

We are looking for a Vice President to join our Financial Lines Claims team with a focus on Financial Institutions. The Vice President, Financial Institutions' Claims will be responsible for managing the Financial Institutions claims, and lead the team in their investigations, analysis, evaluation and disposition of claims and claim litigation. The successful candidate will achieve superior customer service, optimize claim results and work closely with internal business partners to provide legal advice as needed and participate in our Financial Lines Claim strategic initiatives.

Responsibilities:

• Manage a smaller caseload of primary and excess Financial Institutions Liability Claims, including both Public Company D&O, Private Company D&O, Employment Practices Liability, Fiduciary Liability, Financial Advisors and Bad Faith Claims, as well as lead the team in their handling of these matters.
• Analyze, investigate and resolve Financial Institutions' claims of varying levels of severity with moderate supervision.
• Prepare and present reports that accurately reflect loss development, potential/actual financial exposure, reserve adjustments, coverage issues, and claim and recovery strategies.
• Collaborate with underwriting on significant claim exposure.
• Work closely with internal and external business partners such as retail and wholesale brokers, insureds and their counsel, to resolve claims.
• Analyze claim submissions and draft coverage correspondence, appoint and manage counsel.
• Review claim and policy information and maintain comprehensive claims files.
• Maintain knowledge of Financial Institutions trends and provide feedback to claims and underwriting team.
• Monitor marketplace conditions, conduct research, and draft reference materials to inform claim and underwriting colleagues on law impacting Ascot's underwriting and claim decisions.
• Obtain and maintain required adjusters' licenses.
• Travel to attend mediations industry conferences, settlement & claim conferences, trials, depositions and assist with Ascot's marketing efforts.
• Perform other duties as assigned.
• Commit to The Ascot Way: As a member of the claims team embody The Ascot Way in their daily interaction with colleagues, fostering colleague engagement and development, collaboration, inclusivity, and individual accountability.

Requirements:

• Bachelor's Degree, with a J.D., preferred, or related field of study.
• A minimum of 10 years of relevant legal or claim handling work experience, ideally in the handling Financial Institution claims, but a strong back in Management Liability Claims will also be considered, both either at an insurance carrier or in a private practice.
• Demonstrated ability to effectively work through conflict and resolve issues with a professional demeanor.
• Ability to make sound decisions and negotiate terms and conditions within a designated authority limit.
• Time management skills with the ability to manage multiple priorities with attention to detail, work in a fast-paced environment and be able to effectively prioritize projects and assignments for multiple internal clients.
• Strong verbal and written communication skills with the ability to clearly articulate coverage determinations.
• Ability to build and maintain effective and collaborative relationships with colleagues, customers, and business partners.
• Eagerness to speak at industry events or attend broker/ reinsurance meetings.
• Must be a self-starter and work independently.
• Strong knowledge of Microsoft Office products as well as claims system skills required.

***This position may be filled at a different level, depending on experience***

Compensation:

Actual base pay could vary and may be above or below the listed range based on factors including but not limited to experience, subject matter expertise, and skills. The base pay is just one component of Ascot's total compensation package for employees. Other rewards may include annual cash bonus, and other forms of discretionary compensation awarded by the Company.

The annualized base pay range for this role is: $190,000 - $205,000

Company Benefits:

The Company provides a competitive benefits package that includes the following (eligibility requirements apply):

Health and Welfare Benefits: Medical (including prescription coverage), Dental, Vision, Health Savings Account, Commuter Account, Health Care and Dependent Care Flexible Spending Accounts, Life Insurance, AD&D, Work/Life Resources (including Employee Assistance Program), and more.

Leave Benefits: Paid holidays, annual Paid Time Off (includes paid state /local paid leave where required), Short-term Disability, Long-term Disability, Other leaves (e.g., Bereavement, FMLA, Adoption, Maternity, Military, Primary & Non-Primary Caregiver) Retirement Benefits: Contributory Savings Plan (401k).

#LI-Hybrid

#LI-MR1