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BCS Financial Corporation
Oakbrook Terrace, Illinois, United States
(hybrid)
Posted
1 day ago
BCS Financial Corporation
Oakbrook Terrace, Illinois, United States
(hybrid)
Job Type
Full-Time
Job Duration
Indefinite
Salary
$110,000.00 - $130,000.00
Min Experience
7-10 Years
Min Education
BA/BS/Undergraduate
Required Travel
0-10%
Salary - Type
Yearly Salary
Job Function
Claims
Professional Liability Claims Lead (Specialty Risk)
The insights provided are generated by AI and may contain inaccuracies. Please independently verify any critical information before relying on it.
Professional Liability Claims Lead (Specialty Risk)
The insights provided are generated by AI and may contain inaccuracies. Please independently verify any critical information before relying on it.
Description
Position Overview
BCS Financial is seeking an experienced claims leader to oversee Specialty Risk Solutions claim operations and strategy for Agent E&O, commercial cyber, excess cyber, and other complex products. This role is responsible for managing day-to-day claims functions, driving process improvement, and collaborating across departments to ensure optimal claim outcomes and compliance.
Essential Elements
- Adjudicate claims from end to end including assessing coverage, establishing reserves, communicating with Insureds, TPAs, coverage counsel and reinsurers, establishing reserves and negotiating settlements.
- Establish and maintain early warning system to track and monitor Open claims (high-dollar, high risk exposure situations)
- Facilitate Claims Committee, consisting of cross-functional areas with shared responsibility for positive claim outcomes and accurate financial reporting
- Establish and report on key metrics (KPI and SLA performance management)
- Analyze and report significant claim trends across programs (insourced and outsourced programs)
Coordinate and lead interdepartmental workflows and resources related to continuous process improvement efforts
Collaborate with underwriters to support policy construction and drafting, reporting claim trends, data analysis, and risk assessments - Participate and/or facilitate TPA audits, identify risks and work closely with Enterprise Risk Management and other internal teams to mitigate risks
- Monitor reserves
- Ensure great customer service experience for our Insureds
- Perform similar work-related duties as assigned
Requirements
Education and Certifications
- Bachelor’s degree required; advanced degree or industry certifications (AIC, CPCU, RPLU) preferred.
Experience
- 10+ years of claims handling experience, with a focus on Agent E&O and Commercial Cyber claims.
- Strong analytical, organizational, and process improvement skills.
- Excellent verbal and written communication; able to present to senior management and in group settings.
- Experience with claims management systems (e.g., Guidewire, ClaimCenter), data analytics, and reporting tools.
- Knowledge of insurance industry claims process, legal/regulatory environment, and litigation/arbitration/trial processes.
- Collaborative mindset and ability to influence others.
Travel Required
- Hybrid: Local travel to main office 2 days/week
Job ID: 81281728
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