Recovery Specialist, Loss

Recovery Specialist, Large Loss page is loaded## Recovery Specialist, Large Losslocations:
GA-Atlanta:
NJ-Parsippanytime type:
Full time posted on:
Posted Todayjob requisition :
JR2506140

At AIG, we are reimagining the way we help customers to manage risk. Join us as a
** Recovery Specialist, Large Loss
** to play your part in that transformation. It’s an opportunity to grow your skills and experience as a valued member of the team.
** Make your mark in Claims Stewardship
** Our Claims professionals support AIG policyholders through some of the most trying times. When our clients face losses large and small, we step up to help them ease the financial burdens of catastrophic events like fires and hurricanes; we help them get their businesses back up and running again or recoup the value of a lost family heirloom or a prized possession.

Our Claims team is an industry leader, drawing daily on its unparalleled levels of expertise to offer our clients the highest levels of stewardship to drive total cost of claim improvement and consistent outcomes. AIG manages claims using a wealth of technical and market knowledge about risks, business practices, and the ever-evolving legal and regulatory environment.
** How you will create an impact
** The Recovery Specialist is responsible for the end- to- end recovery process to include; investigation, identification, and pursuit of recovery/subrogation opportunities to maximize amounts received from third parties who are wholly responsible or share liability for damages paid to claimants by AIG, while ensuring recovery expenses are minimized.

A Recovery Specialist will be responsible for the most complex, highest value claim recovery cases covering multiple commercial insurance lines of business within the North American region.

This role regularly requires the exercise of discretion and professional judgment in evaluating whether to pursue recovery and in negotiating settlements.

Key responsibilities:

* Reviews assigned claim files to determine if recovery is feasible, investigates and evaluates liability issues, coordinates investigations by expert witnesses, proactively follows up with relevant parties, handles arbitrations, and refers cases to approved attorneys.
* Conducts missing investigations, assesses liability, and negotiates the best possible settlement under the terms of the contract.
* Reviews assigned files for adequacy of investigation and recognition of recovery potential by claims personnel.
* Counsels and assists claims personnel in appropriate recovery investigation and file documentation to ensure that the company is properly positioned to pursue a lucrative recovery.
* Advises management of deficiencies in investigations conducted by claims personnel which result in diminished chances of recovery.
* Corresponds with appropriate parties in accordance with established procedures regarding claim information, notice/demand of payment and related issues.
* Prepares activity reports on files over settlement authority.
* Maintain a diary of facts and activity regarding assigned files, ensuring compliance with Statute of Limitation requirements.
* Researches, understands, and applies state laws that relate to each file. Keeps management advised of legislative, regulatory, and legal developments which may have an impact on recovery results.
* Provides all investigative information to attorney-of-record, and monitors and controls case development and settlement to ensure that recovery potentials are met.
* Approves and issues, within established guidelines and authority, indemnity and legal payments through the appropriate Claims Processing Systems.
* Forecasts potential recoveries and updates the recoverable amount as needed.
* Provides customer service assistance to outside organizations and AIG Claim Operation management.
* Complete focused claims reviews for all lines of business within AIG domestically as assigned. This includes analysis, documentation of results and suggestions for improvement.
* Assist team on ad-hoc duties, projects, and other assignments delegated by Managers/Leaders.
* Handle caseload across relevant jurisdictions while ensuring all tasks are…