Bond Interest Clerk, Sr. jobs in Akron, OH

The Surety Bond Claims Analyst investigates, evaluates coverage, determines liability, sets reserves, and settles surety bond claims of low complexity and low risk. When a claim occurs, the Surety Bond Claims Analyst plays a crucial role in assessing the validity of the claim and facilitating the resolution process. This role evaluates recovery potential and institutes subrogation activities. Participates as a team member in the handling of surety claims under the direction of Claims Counsel. Reports all claims matters having an enterprise or corporate impact to the Chief Legal Officer for further action including any requests for legal advice to the organization.

• Protects the interests of the company and ensures fair and equitable resolution of surety bond claims.
• Conducts thorough investigations into surety bond claims to determine the facts and circumstances surrounding the claim.
• Evaluates coverage, determines liability, sets reserves, and settles low complexity and low risk surety bond claims.
• Evaluates recovery potential and institutes subrogation activities as appropriate to recover losses from principals, indemnitors, or other responsible parties.
• Gathers and compiles all relevant documentation related to the claim, documenting decisions and actions taken through the claims process, and maintains accurate and organized claim files.
• Communicates with various stakeholders, including claimants, contractors, and internal teams, responding to inquiries and requests for information related to surety claims.
• Evaluates the financial risk associated with a claim and makes recommendations to management.
• Provides regular updates on the status of claims by preparing and presenting on claim activities to management.
• Negotiates settlements with claimants when appropriate and collaborates with all involved parties to reach mutually acceptable resolutions.
• Ensures compliance with regulatory requirements and company policies.
• Advises surety underwriting staff of status of pending claims with significant exposure. Attends and participates in periodic Surety Claim roundtable discussions and staff meetings.
• Participates as a team member in the handling of complex surety claims under the direction of Claims Counsel.
• Assists with department projects and operational administration as needed.
• Seeks and engages in learning opportunities with the goal of expanding surety subject matter knowledge.

• 1 years claims investigation operations or related experience such as project management, financial analysis, vendor management, construction management or other operations.
• Experience in Surety Claims handling preferred.
• Bachelor's degree or commensurate experience.