Surety Engineer II

Liberty Mutual Insurance•,

3d•$120,000 - $225,000

About The Position

Responsible for technical engineering and construction analyses of large and complex performance, payment and non-contract surety bond disputes and claims. These functions include analyses, oversight responsibility and resolution. Leads teams of consultants, contractors and others in management and coordination of resolution of major claims. Assists Surety/SDI Claims and/or Underwriting Department in fulfilling objectives of the unit, including audit and administrative functions. Evaluates contractor internal controls structure and job cost systems specifically related to estimating, project management and job site visits on underwriting department engagements.

Requirements

BA/BS Degree in engineering or related field with minimum of 7 years progressively more responsible surety claims or construction management experience
A minimum of 3 years (preferably 5 years) of construction management experience required and 5-7 years of proven surety claims management experience preferred
Proven analytical ability to evaluate and judge claim files
Demonstrated ability to reduce complex analyses and information into understandable prose and/or oral directives, for conveyance of situations to other persons in the organization for claims handling or training purposes
Significant exposure to legal process anticipated.
Demonstrated effective communication and interpersonal skills required in dealing with claimants, outside counsel, consultants and members of senior management
Must be willing to travel and deal with periodic heavy workloads, in an expeditious and professional manner

Responsibilities

Responsible technical and construction analyses of large and complex performance, payment and non-contract surety bond disputes and claims, with some oversight by the Manager, Construction Services or Manager, Construction Consulting Services.
Prepares technical reports and evaluates the surety's loss exposures in all major bond defaults. Duties include: site inspections of projects, evaluation of contract plans and specifications, expert reports, construction schedules, and the preparation of cost to complete analyses. Supervises and coordinates consultants' investigation, analyses and preparation of default reports. With some oversight, makes recommendations as to choice of remedies (default, cure, takeover or relet) and participates in establishing loss and expense reserves. Assists in drafting, negotiating and settling, tender, takeover, completion, joint escrow, sub-contract and other contractual agreements necessary to discharge surety's obligations, working with Surety Counsel. Manages project completions by consultants and or completion contractors.
Advises trial counsel on engineering and construction management issues. Assists, in coordination with Surety Counsel, in pre-trial preparation, mediation, arbitration, alternative dispute resolution as appropriate, including technical investigative research, interviewing claimants and witnesses, acting as an expert witness in technical matters relating to construction contracts, performance and payment bond claims and financial analysis, including performing financial evaluations and recovery analysis.
Is a resource to the surety specialists and support staff in coordination with Surety Counsel in resolution of performance, payment and non-contract bond disputes and defaults, including monitoring work flows and quality and quantity of work by utilizing management reports, surveying claim files and communicating with customers ensures staff adherence to company policies in claims handling, service standards and guidelines. Identifies problems and ensures implementation of corrective action.
With some oversight and as requested by claims or underwriting, participates in visits to contractors to assess internal control structure, job cost systems and reporting capabilities and how senior management oversees business activities. This process includes gathering contracts, schedules, original estimates, job cost reports, cost-to-complete schedules and interviews of key personnel. The engagement conclusion typically results in a written report outlining key deficiencies with suggestions to improve the operations. Advises underwriting as to key findings.
With some oversight, reviews project bid-spreads when significant variance is identified by underwriting. Procedures involve securing estimating and bid documentation, known results, contract/RFPs (including drawings and specifications) and interview of head estimator or equivalent.
With some oversight, investigates Subcontractor Default Insurance (SDI) claims by evaluating the circumstances and causes of subcontractor default, conducting site inspections, reviewing contracts, schedules, cost records and project documentation, assessing completion and mitigation strategies, quantifying loss exposure, coordinating consultants and other stakeholders.
Provide pre-bid technical analysis to Underwriting where the prospective project has unusual and/or atypical elements within the bonded scope of work.
Together with Surety Counsel and Sr Surety Claims Specialists, supports corporate internal audit program to ensure accuracy and adherence to corporate policy and accounting procedures works with Liberty Mutual and outside auditors on financial statements and corporate audit audits work files of outside vendors.