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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. 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 claims and loss prevention activities. Typically supervises one or more insurance administrators and specialists, related analytical systems and is responsible for expense control (with a significant amount of expenditure authority). Responsible for accuracy of budgets and reserves for area of responsibility and evaluates vendors. May individually manage complex and sensitive claims or analytical projects that can involve other business units. Interfaces with, and gives strategic 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.

Our Insurance Managers use relevant knowledge of the insurance industry, insurance concepts and associated products, rates and pricing, contract negotiations, underwriting practices, and claims/reporting processes and procedures to support management of a broad portfolio of commercial coverage. Insurance Managers provide insurance consulting and subject matter expertise to resolve inquiries and needs for senior management and business units, as well as insurance brokers and carriers.

The role requires working across the broad scope of banking operations to research and analyze risk. Insurance managers leverage underwriting and claims knowledge to provide recommendations on strategic solutions for exposure hedging which may include risk avoidance, mitigation, or transfer according to insurance laws, rules, and regulations, loss frequency and severity analysis, insurance product availability, coverage breadth, and pricing. Additionally, the Insurance Managers have the responsibility for consolidating, reviewing and maintaining policy documentation, monitoring insurer credit quality and loss developments, as well as developing and delivering executive and management level reporting and presentations.

Skills:

• Claims Management

• External Resource Management

• Risk Analytics

• Vendor Management

• Analytical Thinking

• Financial Analysis

• Interpret Relevant Laws, Rules, and Regulations

• Reporting

• Underwriting

Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent

Required Skills and Experience:

• Demonstrated analytical skills, intellectual curiosity

• Resourceful, able to research information – a problem solver

• Excellent communication, teamwork and business partnering skills

• Proven writing skills to all different audience levels

• Intermediate to advanced experience with Microsoft suite computer programs

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

• Insurance industry experience preferred but not required

Shift:

Hours Per Week: