Financial Lines Claims Manager - Counsel

About this role:

Wells Fargo Risk & Insurance Management (RIM) is seeking a Financial Lines Claims Manager

This position is responsible for managing various financial lines claims from both the insurance and reinsurance perspective. Within these responsibilities the individual will have the opportunity to positively impact the outcome of the claims process through their review of complaints and other legal documents while evaluating potential coverage from various insurance and reinsurance policies, accurate and timely recording of claim activities and notes in a Risk Management Information System, partnering with the captive manager to process claim payments and establish reserves, communicating with carriers to facilitate and negotiate insurance or reinsurance recovery, providing carriers required information to maintain compliance with policy obligations, and collaborating with the Risk Financing team in providing routine claim reporting to assist with renewal negotiations.

Additional responsibilities include review and consultation specific to insurance requirement language in contractual agreements with domestic and international third party service providers. Successful candidates will engage and build relationships with various business lines, corporate support groups including the Legal Department, outside counsel, and insurance broker consultants to conduct these responsibilities and implement claim management and resolution strategies.

In this role, you will:

• Manage complex financial lines insurance claims and claim recoveries for the Company and its wholly owned captive
• Collaborate with the risk financing and operations teams in exposure identification, assessment and mitigation from the perspective of financial lines claims, assisting with policy language drafting and interpretation as applicable
• Participate in claim processing and management initiatives identifying opportunities for process or efficiency improvements
• Collaborate with the captive management team in management of certain financial aspects of insurable risk claims including review of outside counsel billings, reserve recommendations and claim recoveries from insurers/reinsurers and payments to Wells Fargo businesses.
• Represent the Company with respect to insurable risk claims aspects of highly complex litigation, negotiations, settlement discussions, and claims-related legal considerations
• Consult on insurable risk aspects of third-party contracts and review insurance clauses within those contracts
• Provide guidance to internal customers on insurance and reinsurance claim matters
• Review and analyze assignments or challenges that require research, evaluation, and selection of alternatives, and exercise independent judgment to guide risk deliverables
• Collaborate with internal business line stakeholders regarding claims management under business line specific insurance programs
• Participate in underwriting meetings to provide perspective on the Company's financial lines claims management processes and protocols
• Participate in Enterprise Incident Command Center briefings and incident management with respect to insurable risk exposures
• Support the work of other claim managers and department management on highly complex matters and consult with brokers and outside counsel on highly complex matters
• Present recommendations for complex situations and exercise independent judgment while developing expertise in policies, procedures and compliance requirements
• Advise on the impact of policy, legal, and regulatory changes specific to insurable risk exposures and programs
• Develop the strategic direction for certain claims functions and management of related policies, procedures and controls to mitigate risk
• Collaborate with functional colleagues, internal partners and stakeholders
• Partner with business leaders and management of other enterprise functions to develop and implement insurable risk management programs

Required Qualifications, US:

• 2+ years of Law experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
• Active State Bar membership or the equivalent in a country outside the United States

Desired Qualifications:

• 2+ years of experience in at least one of the following: legal counsel, corporate risk management, risk management consulting, property/casualty insurance company, insurance brokerage environment
• Experience with program management
• Knowledge of risk management, financial institutions, and insurance claims
• Ability to negotiate, influence, and collaborate to build successful relationships
• Ability to organize and manage multiple priorities
• Ability to take on a high level of responsibility, initiative, and accountability
• Excellent verbal, written, and interpersonal communication skills
• Strong organizational, multi-tasking, and prioritizing skills
• Ability to be flexible and adjust plans quickly to meet changing business needs
• 2+ years experience in insurance coverage legal environment
• 2+ years claims program management experience
• ACM Certification

Job Expectations:

• Ability to do light travel both domestically and internationally

Please note that this position is available for relocation to either Minneapolis or Charlotte.

We Value Diversity

At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.

Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.

Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.