Corporate Insurance Claims Analyst

Fifth Third Bank • Cincinnati, OH

1d • Onsite

About The Position

The Corporate Insurance Claims Analyst performs corporate insurance risk management claims related tasks for Fifth Third Bank, balancing increased efficiency with appropriate risk mitigation and controls in alignment with Enterprise Risk Management vision and strategy. This role acts as a liaison between the Bank and its insurance brokers and carriers for claims management. The analyst also provides oversight and credible challenge to Line of Business (LOB)/functional areas involved in insurance claims processes, escalating concerns as appropriate to support the Bank's Risk Management Framework. The position requires accountability for risk by openly exchanging ideas, elevating concerns, and adhering to policies and procedures. It emphasizes doing the right thing for customers and colleagues to drive a positive customer experience, and operating within the Bank's risk appetite by consistently identifying, assessing, managing, monitoring, and reporting all types of risks.

Requirements

• A clear understanding of the Bank's approach to the management of operational risk, or equivalent experience gained in other organizations.
• Professional verbal and written communication skills.
• Ability to Communicate with discretion and understanding when confidentiality is needed.
• Must demonstrate intellectual curiosity, be analytical and possess the ability to interpret and apply policies and regulations across a complex business(es).
• Must have a general understanding of banking regulations.
• Must be results and goal oriented.
• Possess sound judgment and Ability to apply logical/critical thought processes when approaching work or making recommendations for solutions.
• Ability to work in a dynamic work environment that requires multiple demands, shifting priorities, and rapid change.
• Must be able to maintain independence and objectivity in all aspects of position.
• Working knowledge of Microsoft Office products.
• Demonstrated Ability to learn applications and internal banking systems.

Nice To Haves

• Bachelor's degree in related field or equivalent experience preferred.
• Insurance claims management experience preferred.
• 3 years of banking experience experience preferred.
• Reporting and analytics experience preferred.

Responsibilities

• Understands Corporate Insurance (Property, Casualty, Workers Compensation, and Financial Professional Lines).
• Performs insurance claims management activities which may include the capture, tracking, reporting, and escalating of insurance claims.
• Understands all operational risk Program elements (i.e. RCSA, BCRA, KRI, etc) methodology, governance, standards and procedures, including templates and overall framework.
• Understand the organizational structure, key management personnel, and primary objectives of the LOBs and/or Functional Areas supported.
• Ensure the operational risk appetite is understood by the businesses supported.
• Monitor external environment, benchmark with peers, understand and escalate significant legal or regulatory changes.
• Serve as lead resource and Provide guidance to the LOB on risk management issues.
• Ensure policies, guidelines and procedures are consistently and uniformly applied within the line of business and/or functional areas supported and ensure proper review and timely update of Corporate Insurance related policies, frameworks and procedures in accordance with the established review cycle to ensure they are kept up to date.
• Reviews operational loss trends for assigned areas and reviews escalated items.
• May Prepare operational loss data for reporting related to a specific claim type, geographic location, claim root cause, etc.
• Provides oversight and credible challenge to operational loss root cause analysis and action plans.
• Performs periodic reviews of LOB/Functional area procedures and provides guidance for new processes.

Benefits

• Comprehensive benefits
• Differentiated compensation offerings
• Extensive benefits programs designed to support the individual needs of our employees and their families, encompassing physical, financial, emotional and social well-being.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level