Resolution Specialist- Insurance

The Vacancy

Reporting to the Resolution Team Manager/ Resolution Technical Manager, you are responsible for the effective management of new failed firms and resolution of the customer claims solution working with the Regulators (PRA & FCA), Insolvency Practitioner, Broker, and other third parties.

You will be responsible to deliver the strategy of the insolvency/ administration with the Insolvency Practitioner, ensuring processes, risks, and key controls are maintained, and adhered to. Providing technical advice to suppliers, our outsourced partners and other parties regarding claims handling on our behalf, and ensuring the best outcome for our customers.

My Skills- You will have technical expertise (or demonstrate the ability to acquire expertise) in the following:

Technical - The subject matter expertise needed to deliver all elements of the service

• Insolvency Knowledge
• Claims Processing
• Payment Processing
• Technical Issues Resolution
• Claims Product Knowledge
• Data Analysis & Insights
• Microsoft 365
• Risk Management
• Data Reporting
• Training & Development (Creation)
• Training & Development (Delivery)
• Evidence-Based Practice
• Situational Decision-Making        

Business- how we design and develop our operating environment to drive user experience

• Business Acumen
• Digital Literacy
• Change & Project Management
• Process Management
• Service Design
• Business Planning
• User Experience

People - the skills and collaborative behaviours we need to maximise the potential of all our teams

• Coaching & Mentoring
• Working Inclusively
• Stakeholder Relationship Management
• Persuasion & Negotiation
• Market & Regulatory Environment

My Knowledge

You will be able to demonstrate the knowledge, experience, or mastery of:

• Ability to manage expectations of senior stakeholders internally and externally
• In-depth knowledge of claims handling across different product lines
• Deliver outstanding customer service to our suppliers, stakeholders, and customers through interactions with them
• Demonstrate expert knowledge of FSCS, FCA and PRA rules, policies, and processes.
• Demonstrate technical claims knowledge
• Demonstrate technical knowledge of claims assessment process
• Demonstrate experience in financial services

Insurance

• Demonstrate a strong level of awareness of current operational procedures followed by insurers in the management of insurance claims across a range of products
• Demonstrate a thorough understanding of Policyholder Protection Rules and their application to insurance contracts and claims
• Demonstrate knowledge of the law and practice of insurance contracts and their application in resolving policy coverage issues

My Role

In being a member of the Resolution Team (Insurance), you will:

• Responsible for engaging regularly with relevant parties, IP, Run off Agents, and Brokers of the failed firms you will own
• Manage and monitor the progress and performance of each estate working with key stakeholders to deliver the strategy of the run down of the failed firm
• Work closely with Run off Agents to ensure optimised processes are in place to ensure the right outcomes for customers and levy payers
• Utilising management information to ensure the effective management of claims (new claims, open claims, reserving philosophy maintained, claims progression)
• Provide technical support and approval of valid payments on insurance claims within required SLAs in line with FSCS rules
• Manage and facilitate large claims within the failed firm estate attending Joint Settlement Meetings with FSCS and customer in mind 
• Manage the closure of estates, ensuring any FSCS follow on activity planned and delivered 
• Deliver and develop required training to relevant parties on FSCS processes

About Us

For the past 21 years, FSCS has been getting customers of failed authorised financial services firms back on track.

Our strength is in our numbers. Since 2001, we have helped 6.5m customers and paid back £26bn in compensation. Over the years we have continually strived to be better, faster, and more empathetic to our customers’ needs in an ever more complex financial world. Our people have worked together to make sure we can offer protection and reassurance every step of the way, even during the toughest of times over the last two years. FSCS is an organisation that makes a difference, and in which our people truly make a difference.

We have grown from modest beginnings in 2001 to helping customers during historic events such as the 2008 banking crisis and supporting vulnerable customers during the pandemic. As a result of this success, FSCS has become increasingly respected, insightful, and influential in the regulatory eco-system. It is an exciting time in our journey as we now have an opportunity to play a bigger role in breaking the cycle of rising consumer harm and costs; by being part of a system that is about prevention rather than cure.