Financial Institutions & Public Company - Claim Counsel

New York, NY
Full Time
Practice Areas: Litigation Job #: R-4788 Exp.: 3 - 5 Years
This position is responsible for handling financial institutions claims (Directors & Officers Liability and Errors & Omissions Liability) for businesses in the financial services sector (community banks, credit unions, insurance companies and agents, investment advisors and large depository and non-depository institutions. The position will also work with the Public Company Liability Directors and Officers Insurance Group handling Directors and Officers Insurance.

Fulfill Bond and Specialty Insurance (Bond) Claims mission by conducting thorough investigation, analysis, evaluation and disposition of claims to achieve superior customer service and claim results at the most reasonable cost. Effectively manage all assigned Bond claims, typically of moderate severity or complexity. Interact and collaborate with claim and underwriting colleagues as well as with external business associates.

Primary Job Duties & Responsibilities
Responsibilities Claim Handling
  • Maintain all necessary active adjusters licenses and remain current with all CE credit requirements.
  • Within authority limit, thoroughly analyze, investigate, negotiate and resolve moderate severity Bond claims with moderate supervision by claims management.
  • Make appropriate decisions within own claim authority and make appropriate recommendations to management when necessary.
  • Comply with all policies and procedures, including compliance, regulatory and Bond performance and customer service standards.
  • Be accountable for accurate documentation/information in claim file and Bond Claim Management System (BCMS) and adhere to Claim documentation standards (i.e. coverage analysis, reserve and settlement rationale, current diary).
  • Prepare reports (i.e., Large Loss Memos, quarterly claim, EC, trial, class action) to management which accurately reflect loss development, potential/actual financial exposure, coverage issues, claim and recovery strategies.
  • Proactively optimize pre-loss recovery opportunities through indemnitors and collateral.
  • Identify all recovery opportunities and coordinate recovery efforts with the Recovery Management Unit and claims management.
  • Within authority limit, retain, monitor, manage and approve payments to outside counsel on routine litigation matters, actively utilizing litigation management plans and budgets.
  • Guidance is needed for non-routine litigation.
  • Within authority limit, make quick, sound decisions and negotiate terms and conditions consistent with Bond standards.
  • Solicit input and guidance from management when resolving claims which are beyond authority level.
  • Communicate reserve adjustments to underwriting.
  • Assist/mentor less experienced colleagues in claim resolutions.
  • Recognize issues with broader implications to Bond and Travelers.
  • Represent Surety or Management Liability Claim in claim strategic initiatives (or lead team); lead Surety or Management Liability Claim strategic initiatives.
  • Maintain knowledge of coverage, legislative and industry-related initiatives and judicial trends.
  • Share newsletters, webinar information, case analyses, results of counsels legal research and/or litigation strategies with underwriting, Claim and Claim management.

Responsibilities Legal Support
  • Maintain an active license in the state of your principal office location and remain current with all CLE credits.
  • Provide legal support to business partners.
  • Review transactional documents to provide legal advice and risk analysis to business partners on impact to indemnity and security packages.
  • Review customer contracts to provide input on legal advice and risk analysis of contract language.
  • Participate in drafting internal topic documents (e.g., white papers, 50 state surveys).
  • Review and analyze Bond forms to provide input on legal advice and risk analysis to underwriting.
  • Provide legal advice on litigation strategies.
  • Research legal issues for business partners and claim team.
  • Participate in drafting indemnity agreements and riders (Surety Claim).
  • Maintain current knowledge of relevant legal issues and trends in the surety market place through review of legal publications.

Minimum Qualifications
  • Bachelors degree required.
  • Juris doctorate degree required.
  • Properly licensed, registered or authorized, and in good standing, to practice law in the jurisdiction in which you will be working.

Education, Work Experience, & Knowledge
  • Experience with public company, asset management, banking, insurance company or professional liability, litigation and coverage are preferred.
  • Experience with banking law and litigation is preferred.
  • 3-5 years litigation experience is preferred.

Licensing or Certificates
Maintain all necessary active adjusters licenses and remain current with all CE credit requirements.

Apply Now
When you Apply, don't forget to mention that you found this job on

Upload Your Resume
Upload your resume on Attorney Jobs in USA to allow featured employers to find you.

Upload Your Resume

Post A Job Now
If you are an employer, we encourage you to post your job vacancy on our site.

Post A Featured Job


Hey Folks, Any Question or Suggestion?

You can find someone friendly immediately on (315) 316-1215 ( EST 9:00 to 14:00 ) or write us about your concern or suggestion at and we will get back to you as soon as possible.

Call: (315) 316-1215