Career Area:

Finance

Job Description:

Your Work Shapes the World at Caterpillar Inc.

When you join Caterpillar, you're joining a global team who cares not just about the work we do – but also about each other.  We are the makers, problem solvers, and future world builders who are creating stronger, more sustainable communities. We don't just talk about progress and innovation here – we make it happen, with our customers, where we work and live. Together, we are building a better world, so we can all enjoy living in it.

Our common values and focus on inclusion and respect drive the decisions made by our company, teams and people. This is why we are committed to hiring and building diverse teams representative of the customers we serve globally. When you join our team, you can apply your unique life and job experiences and work in an environment where your ideas are heard, your contributions are celebrated, and your whole-self matters.

About Cat Financial

Cat Financial is a subsidiary of Caterpillar Inc., the world’s leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For more than 40 years, Cat Financial has provided a wide range of financing solutions to customers and Cat® dealers for machines, engines, Solar® gas turbines, genuine Cat parts and services. Headquartered in Nashville, Tennessee, Cat Financial serves customers globally with offices and subsidiaries located throughout North and South America, Asia, Australia, Europe and Africa. Visit cat.com to learn more about Cat Financial.

Role Definition

Managing relationships with third party claims companies, insurance fronting companies, and reinsurance companies.

Responsibilities

Performing the oversight of claims in the given product area consistent with policy terms, legal and regulatory issues, corporate financial goals and customer needs.Utilizing and applying up-to-date technical knowledge of claim processing techniques and regulatory information to manage existing and future product lines.Assisting in the provision of inputs to product development, underwriting, marketing and loss control based on expertise in the given product area.Researching the best practices, procedures and priorities for the settlement of claims, in the given product area.Developing loss control initiatives to reduce future claim payments.Analyze large claims data sets to identify claims trends, issues, and recommendations.Understanding of multiple internal and external claims and financial applications to process required business.Understanding of financial and program impacts of claims activitiies on corporate financials and program health and profitability.

Degree Requirement

A 4-year college or university degree and a minimum of 4 years exempt experience managing claims as an adjuster or examiner is recommended.  Completion of one unit of CPCU, or AIC, or Law for the claims person is recommended.  A resident adjuster’s license is also recommended.  Previous insurance experience must demonstrate increased responsibility and demonstrate an ability to gain in knowledge and responsibility such that a level of full competency can be reached.  Equivalent experience may be substituted for education.

Skill Descriptors

Customer Focus: Knowledge of the values and practices that align customer needs and satisfaction as primary considerations in all business decisions and ability to leverage that information in creating customized customer solutions.Analytical Thinking: Knowledge of techniques and tools that promote effective analysis; ability to determine the root cause of organizational problems and create alternative solutions that resolve these problems.Decision Making and Critical Thinking: Knowledge of the decision-making process and associated tools and techniques; ability to accurately analyze situations and reach productive decisions based on informed judgment.Matrix Management: Understanding of the importance of being able to leverage external resources when required and ability to build and use effective working relationships within own department and across department, functional, and geographic reporting lines.Coverage Evaluation: Knowledge of coverage evaluation; ability to locate policy information and interpret policy language as it applies to a specific claim.Insurance Industry: Knowledge of the insurance industry's functions; ability to apply knowledge of insurance trends, directions, major issues, and regulatory considerations to various business environments.Knowledge of Claims: Knowledge of the claims function; ability to identify and utilize the full spectrum of activities, practices, tools, and considerations for managing the claims adjustment process.Loss Assessment, Evaluation and Reserving: Knowledge of cost estimation approaches and methods for a loss; ability to use relevant skills and experience to reserve that amount for eventual resolution.

Consideration for Top Candidates:

Familiarity with Cat equipment: Candidates should have strong experience or understanding of Caterpillar machinery.Technical aptitude gained via experience in engineering or production environments: Ideal candidates will have a strong technical background, developed through practical experience in engineering or production roles. This includes proficiency in diagnosing and solving technical issues, as well as implementing efficient processes and systems.Strong business acumen: Candidates should possess a deep understanding of business principles and practices. This includes strategic thinking, financial literacy, and the ability to make informed decisions that drive business success.In-depth knowledge of the insurance industry: Candidates should have comprehensive knowledge of the insurance sector, including industry regulations, market trends, and key players. This expertise enables them to navigate the complexities of the industry and contribute to the company's growth.Experience with extended protection products: Candidates should be knowledgeable about extended protection products, including their features, benefits, and market positioning. This understanding allows them to effectively promote and manage these products, ensuring customer satisfaction and business growth.

Additional Information:

This role is a hybrid position and would require any successful candidate to commit to a 3 day per week in office requirement.

This Job Description is intended as a general guide to the job duties for this position and is intended for the purpose of establishing the specific salary grade. It is not designed to contain or be interpreted as an exhaustive summary of all responsibilities, duties and effort required of employees assigned to this job. At the discretion of management, this description may be changed at any time to address the evolving needs of the organization. It is expressly not intended to be a comprehensive list of “essential job functions” as that term is defined by the Americans with Disabilities Act.
 

Summary Pay Range:

$91,056.00 - $157,632.00

Compensation and benefits offered may vary depending on multiple individualized factors, job level, market location, job-related knowledge, skills, individual performance and experience. Please note that salary is only one component of total compensation at Caterpillar. 

Benefits:

Annual incentive bonus plan*

Medical, dental, and vision coverage

Paid time off plan (Vacation, Holiday, Volunteer, Etc.)

401k savings plan

Health savings account (HSA)

Flexible spending accounts (FSAs)

Disability benefits

Life Insurance

Parental leave

Healthy Lifestyle Programs

Employee Assistance Programs

Voluntary Benefits and Employee Discounts

Tuition Reimbursement

Career Development

*Subject to annual eligibility and incentive plan guidelines.

Visa Sponsorship is not available for this position. This employer is not currently hiring foreign national applicants that require or will require sponsorship tied to a specific employer, such as, H, L, TN, F, J, E, O. As a global company, Caterpillar offers many job opportunities outside of the U.S which can be found through our employment website at www.caterpillar.com/careers.

Posting Dates:

February 6, 2025 - February 20, 2025

Any offer of employment is conditioned upon the successful completion of a drug screen.     

EEO/AA Employer.  All qualified individuals - Including minorities, females, veterans and individuals with disabilities - are encouraged to apply.

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