Claims Recovery

12 hours ago

Bengaluru, India BDO RISE Private Limited Full time

Job Summary


The Claims Recovery practice is part of Advisory’s Forensics - Risk, Insurance segment specializing in assisting insurance policyholders with the preparation, presentation and settlement of major insurance claims resulting from some covered cause of loss. Examples of claim types include but are not limited to property, business interruption, cyber, and product recall claims.

The Manager evaluates and quantifies physical and economic losses from insurable events, such as natural or man-made disasters. Managers collect and analyze data to assess damages and calculate financial impact, including business interruptions. Detailed schedules are prepared to present findings and methodologies for clients and the US-based team. Effective communication and collaboration with the US-based team is essential.

The Manager is responsible for project management and is the lead contact for engagements. Manager is also responsible for planning, progress reporting, and executing on client projects. Manager assists on internal practice initiatives, as required.


Job Duties


Foster strong relationships with US-based counterparts to facilitate effective communication and resolution of claims

Lead the preparation and evaluation of large commercial property damage and business interruption insurance claims, and other projects

Clearly and logically articulates the arguments for their positions to US-based counterparts

Manage day-to-day interaction and communications with local project staff and US-based counterparts

Oversee multiple client projects and manage them effectively for consistent progress

Ensure the maintenance of comprehensive and accurate claim correspondence and supporting documentation

Other duties as required

Specific claims recovery duties include, but are not limited to:

Collaborate with US-based counterparts regarding review and interpretation of insurance policies to ensure appropriate application of coverage and valuation determinations

Review and analyze detailed supporting documentation (e.g., contracts, change orders, purchase orders, estimates/quotes; vendor invoices, inventory, payroll and other books and records) to quantify actual costs incurred for replacement/repair of damaged assets including real and personal property, inventory, machinery and equipment, etc.

Perform analyses of historical actual and planned volume, pricing/cost and revenue statistics in order to quantify impact on production, sales and inventory and calculate lost revenue

Perform analyses of fixed/continuing and variable non/continuing expenses in order to calculate business income value associated with lost revenue

Review and analyze detailed supporting documentation (e.g., purchase orders, estimates/quotes; vendor invoices, payroll records) to quantify expediting/extra expenses


Supervisory Responsibilities

Liaise with US-based counterparts to ensure alignment of claims strategies and practices, and to facilitate cross-border collaboration and knowledge share

Develops the capabilities of less experienced staff through coaching, mentoring, knowledge transfer, internal training delivery, and assignment of challenging work opportunities

Supervise the day-to-day workload of Senior Associates and Associates on assigned engagements and reviews work product

Evaluates the performance of Senior Associates and Associates and assists in the development of goals and objectives to enhance professional development


Qualifications, Knowledge, Skills and Abilities


Education:

Bachelor’s degree (or equivalent) in Accounting, Economics, Finance or other relevant field, required

Master’s degree (or equivalent) is strongly preferred


Experience:

  • Five (5) or more years of experience in accounting and/or finance role, required

Minimum of three (3) years prior experience in preparing or evaluating business interruption insurance claims or commercial financial damages claims, required


License/Certifications:

Accounting/finance designation (e.g., CPA, CFF, CFA or equivalent), preferred

Software:

Proficient in the use of Microsoft Office Suite, specifically Excel, required


Other Knowledge, Skills & Abilities:

Working knowledge of property insurance policies and insurance claim preparation

Strong analytical, decision-making, and problem-solving abilities

Exceptional communication and people skills

Ability to manage multiple complex projects

Solid organizational skills, especially the ability to meet project deadlines with a focus on details

Contributes to the development of the engagement strategy, including deciding on calculation methodologies and other factors involved in how to approach the work

Capacity to build and maintain strong relationships with internal personal (both in India and US)

Assists in practice business development efforts, including client pursuits and proposals, if requested

Supports a collaborative environment while pushing themselves, their peers, and their teams for strong results and quality work

Ability to function as primary contact to US-based engagement leader on assigned engagements

Effectively manages firm and practice administrative matters, including engagement staffing, client billing, monitoring project economics and adherence to Firm quality standards and protocols

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