Claims Specialist: Guarantees - Sandton at Guardrisk

Role Purpose    

• Responsible for ensuring that the claims and contractual processes are implemented according to the requirements of the Guarantees division.

Requirements    

• Undergraduate qualification i.e. LLB/BCom
• At least 2-3 years’ experience in a specialist claims/commercial environment
• Admitted attorney (preferable)
• FAIS compliance (or working towards it)

Duties & Responsibilities    

• Attend and manage all aspects related to a portfolio of specialist claims such as claims registration, claims management, claims negotiation, salvage and recoveries.
• Strategically manage a portfolio of claims.
• Manage attorneys appointment on matters and ensure compliance with agreed service level agreements.
• Monitor and manage legal spend of attorneys.
• Processing of claims on the system with proper recordal of information.
• Manage system processing and compliance with systems by way of payments, updating signed off reserves
• Manage the claims reserve.
• Manage claims within the internal divisional mandates & policies.
• Prepare regular claims reports to internal and external stakeholders.
• Ensure that senior management & reinsurers are kept abreast of claims.
• Assist in identifying and developing claims processes and procedures.
• Understanding of general legal principles.
• Working knowledge and application of policy wordings (standard & bespoke).
• Develop and maintain an understanding of technical and legal aspects impacting on the division’s operation.
• Make recommendations on improved wording and trends identification to underwriters.
• Ensure that all operational mandates are adhered to.
• Oversee the instructions, execution and finalisation of all security documents for the Division.
• Oversee and manage the collateral structures for the various portfolios.
• Approve all guarantee wordings for the team.
• Ensuring that guarantees are equitably drafted, practicable and adhered to in full.
• Identify and advise on specific commercial risks and subsequent risk mitigations.
• Develop and implement the risk management tool to ensure the efficient and effective monitoring and management of all risks.
• Stay abreast of developments in the global guarantee & related insurance markets.
• Attend to operational duties as allocated.
• Effectively liaise and interact with Underwriters.

Competencies    

• Client focus
• Team work
• Commercial skills
• Excellent verbal and written communication
• Negotiation and Mediating
• Detail orientated
• Organised
• Administrative
• Risk mitigating
• Collaborative
• Innovative