Claim Specialist III, Bond/Corporate Claims (Hybrid in Madison, WI or Waverly, IA)

This position is responsible for handling and/or directing the adjustment of bond/property/casualty/plastic card claims.  Communicate with appropriate parties (i.e., Credit Unions, Attorneys, Accountants, Independent Investigators, Local and Federal Authorities and in-house Legal Department) to expedite the adjusting of claims for proper payment or denial; refer potential legal matters to TruStage Legal Department. Develop general knowledge of all insuring lines to answer telephone inquiries effectively. Proactively consult with credit unions on risk management and loss prevention tools and strategies. Provide credit unions with information on loss mitigation rights and responsibilities as a normal part of the claim’s adjudication process. This position will also be accountable for engaging the Customer Centric Strategy and collaborating with the field, underwriting and/or loss prevention specialists to bring all appropriate TruStage services and products to assigned accounts.

Job Responsibilities: 

• 30% - Analyze loss information received from Credit Unions, claimants, attorneys and other parties via mail, internet, fax or phone, in order to evaluate claims, make a determination on coverage, extent of loss or liability, and establish claim reserve. As necessary secure recorded or written statements and other documents to support claim investigation/decisions.

• 30% - Communicate with policyholder credit unions, their members, field personnel, independent consultants, CPA's, investigators, attorneys and other necessary parties to obtain applicable claims information in order to make a claim decision, explain claim procedures and address coverage questions. As necessary direct claim investigations through external independent agencies, i.e., adjusters, investigators, CPA's and attorneys from established lists.

• 10% - Investigate, settle and/or deny claims within prescribed dollar authority limit and at times in excess of authority limits with management approval and involvement. Assist other Claims Specialists as instructed and needed. Verbally and in writing outline to policyholders, legal staff and other interested parties’ basis for claim payment and/or denial. Refer claims to and assist the Bond/Corporate Subrogation and Legal Departments as necessary.

• 10% - Engage the Account Team (Account Relationship Manager, P&C Specialist, Underwriter and/or Risk Manager) to ensure that the insureds perceived and unperceived needs are addressed across all Credit Union Protection lines of business, as well as focusing on CMG products and services as a whole that may be affected and/or come into play.

• Independently assess and evaluate credit unions and their exposures and identify appropriate solutions. Have knowledge of new and emerging exposures including, but not limited to:

  • Verified by Visa        

  • Business Lending

  • Electronic Crime

  • Account Aggregation

  • ATM smash and grabs

  • Wildfires and smoke

• 5% - Obtain and maintain in good standing necessary state-mandated adjuster licenses by successful completion of:

  • necessary competency examinations, administered either in the state requiring such exam or at an examination center approved by that state and

  • necessary annual continued educational credits obtained through self-study or approved educational courses/seminars as mandated by the state involved.

• 5% - Maintain a diary of pending files and a log of all relevant information pertaining to the file, to include properly securing recorded or written statements and other documents that support the investigation of the claim.

• 5% - Maintain an awareness of departmental, legal and industry changes which may have an impact on the investigation and settlement of claims, by reading related literature and/or attending available educational programs, departmental and intra-departmental meetings within Credit Union Protection and new product development and exposures in TruStage.

• 5% - Assist in the development of training programs for staff and policy holders. Making presentations as needed and directed by management.  Provide training and guidance to lower-level claims specialists.

• Maintain expertise in the use of various internal systems including but not limited to APEX, intranet, internet, mainframe TruStage and Credit Union Protection websites, and Microsoft WORD.

• Complete reports as required by management.

• Claim assignments and daily claim workloads can and will involve all or only specific policies administered by the Credit Union Protection Claims Department. Assignments will be determined by management based upon departmental need, educational background and restrictive state licensing issues.

The above statement of duties is not intended to be all inclusive and other duties will be assigned from time to time.

Job Requirements:

• Associate Degree in Accounting, Insurance, Finance or Business or equivalent trade off with professional work experience in the financial services industry..

• 3 years of Bond or Property & Casualty or Plastic Card claims work experience.

• Proficient working knowledge of Bond and Property/Casualty contracts.

• Demonstration of the ability to clearly and effectively communicate product information/decisions to internal and external customers via telecommunication equipment, in person and in writing.

• Demonstration of customer service attitude and customer service skills.

• Demonstrated ability to create and make claim presentations, to department personal, individual credit unions, credit union, leagues, governmental agencies and credit union-related conferences.

• Licensed Property & Casualty Adjuster.

• Ability to travel.

• Incumbents are required to obtain and maintain, in good standing, the necessary state mandated adjuster licenses within 90 days of being hired by successful completion of:

  • necessary competency examinations, administered either in the state requiring such exam or at an examination center approved by that state and

  • necessary annual continued educational credits, obtained through self-study or approved educational courses/seminars as mandated by the state involved.