Claims Manager

What the Claims function does (RBOA §2.7.1.2)

Two responsibilities: (1) calculating deposit insurance coverage on every deposit account of the failed institution under 12 C.F.R. §330, and (2) determining the validity of claims filed by creditors of the failed institution. Deposit claims are worked in the Claims Administration System – Deposit Insurance (CAS-DI): exceptions processing, insured/uninsured calculations, depositor interviews, loan offset requests, pass-through coverage files, posting financial transactions, depositor correspondence. Creditor claims are worked in CAS-NDC: building the creditor list from the bank's books and records, generating bar-date notices, logging filed claims (paper and electronic), screening for deficient or facially invalid claims, recommending allow / partially allow / disallow, and mailing determinations. All creditor claims must be resolved within 180 days of receipt. Staff also respond to claimant inquiries by phone, email and live chat and are briefed on CAS-DI, CAS-NDC and the Resolution & Receivership Management Portal (RRMP).

Tasks of the Claims Manager

• Working manager: performs the Claims tasks above and runs the Claims team (Team Leaders, Senior Professionals, Professionals) under the FDIC Closing Manager and FDIC Functional Area Team Manager (FATM).
• At closing, meets with the Project Manager and FATM to set deliverables and priorities; owns the claims work plan, deadlines and daily production.
• Delegates tasks, sets expectations and deadlines, monitors progress, and reviews and critiques subordinates' work products for accuracy and compliance with FDIC policies and procedures.
• Prepares routine reports and forms for FDIC; absorbs the duties of staff rolling off as the engagement winds down.

Minimum qualifications (RBOA §4.1.5 – verbatim)

• Four (4) years of bank operations experience or previous employment as a Claims Administration with experience in processing a high volume of claims. Knowledge of FDIC deposit insurance rules and regulations a plus.
• Three (3) years of supervisory experience (reflected on résumé).
• Ability to communicate clearly in delegating tasks, setting clear expectations and deadlines, monitoring progress and providing support when needed, ensuring tasks are completed on time and to the expected standard, and providing feedback.
• Ability to review and critique the work products prepared by subordinate staff for accuracy and compliance with client's policies and procedures.
• Ability to carefully follow written and/or verbal directions; requiring minimal supervision beyond initial explanation.
• Ability to calmly, accurately and effectively communicate with individuals at all levels in a highly-charged environment.
• Proficiency in Microsoft Office – Excel, Word, Teams, Outlook – and ability to quickly learn FDIC Claims Department data processing systems.
• Skill in the preparation of routine reports and forms.

  Note: a degree is NOT required for this position (§4.1 exception).

Who to look for

• Deposit operations, branch operations or back-office operations managers at banks or credit unions; collections/default servicing managers; claims operations managers at insurers or TPAs handling high-volume claims; former FDIC DRR claims staff or RAS claims contractors.
• Titles that work: Deposit Operations Manager, Branch Operations Manager, Operations Unit Manager, Collections Manager, Claims Operations Manager, Claims Administration Supervisor.
• Must show three years managing people on the resume with dates and team sizes. Second-line, compliance or advisory roles with no direct reports do not count.