Insurance Manager

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:

Manages and provides strategic and technical leadership on one or more significant areas of coverage and/or a portfolio of related insurance underwriting. Typically collaborates with one or more insurance specialists, and is responsible for insurance expense control (with a significant amount of expenditure authority). Responsible for accuracy of budgets for his area of responsibility. May individually manage complex and sensitive projects that can involve other business units. Interfaces with, and gives strategic insurance coverage advice to various business units.

Bank of America’s Enterprise Insurance Management (EIM) team utilizes insurance to protect the bank’s assets and reduce corporate and line of business risk in support of our responsible growth strategy and risk management framework. EIM is looking for a dynamic professional to join our team as an Insurance Manager.

Responsibilities:

• Support management on a broad portfolio of property/casualty, professional management liability, specialty, and surety underwriting coverages
• Provide consulting as subject matter expert to resolve insurance inquiries for senior management and business units quickly and accurately
• Work with external brokers, insurers and third party administrators
• Interface with various lines of business across the firm to research, gather and analyze exposure, loss, and trend information
• Utilize relevant underwriting and claims knowledge to thoroughly analyze product availability, coverage, and pricing to provide recommendations on specific product purchases, structures and counterparties
• Have responsibility for collecting, reviewing and maintaining policy documentation, monitoring insurer credit quality, and providing appropriate management reporting of insurance programs

Required Qualifications:

• Minimum 3 years’ experience in Insurance Risk Management and/or Commercial Insurance underwriting experience
• Demonstrated analytical skills, intellectually curious
• Resourceful/Research information - problem solver
• Excellent communication skills, teamwork and business partnering
• Proven strong communication and writing skills to all different levels
• Intermediate to advanced experience with Microsoft computer programs: Word, Excel, Access and Outlook

Desired Qualifications:

• BS/BA degree (Insurance & Risk Management/Finance preferred) or related insurance work experience

Minimum Education Requirement:

• High School Diploma / GED / Secondary School or equivalent”

Skills:

• Financial Forecasting and Modeling

• Underwriting

• Risk Analytics

• External Resource Management

• Vendor Management

• Analytical Thinking

• Financial Analysis

• Interpret Relevant Laws, Rules, and Regulations

• Reporting

• Collaboration

• Claims Management

• Policies, Procedures, and Guidelines

• Problem Solving

• Record Keeping

Shift:

Hours Per Week: