Vice President - Chicago, United States - Illinois Association Of Mutual Insurance Companies

Description

Job Summary

This position serves as Chief Financial Officer of the Company which includes directing the financial responsibilities of the Company such as the development and execution of overall financial policies, as well as providing oversight to several divisions involved in daily financial activities including, investments, general accounting, financial reporting, actuarial services, agent contracting and commissions and enterprise project management.

This individual also has the primary responsibility for management of the treasury, banking and insurance activities of the Company, serving in the role of Corporate Treasurer.

A member of the Executive Team, this individual provides long-range goals, strategies, plans and policies that align with the opportunity for organic business growth in conjunction with the general economic outlook by identifying the amount and sources of funds required to meet outstanding and planned commitments.

This individual reports directly to the President.
Primary Responsibilities
Investments –
the Investment Committee including the implementation and execution of corporate investment policies and the proper planning and documentation of all committee meetings
regular contact with the primary external portfolio managers to monitor activity, investment analysis and reports, discuss strategic asset allocation philosophy and details as necessary, and create/sustain positive working relationship and to ensure external managers are aligned with corporate objectives
ongoing reviews and analysis of internally-managed assets, in conjunction with all investment opportunities and recommend appropriate actions to the Investment Committee as changes are warranted
evaluate primary investment managers' performance and fees
Financial reporting & compliance –
the financial reporting function, including regulatory filings (Annual Statement, RBC, Management's Discussion & Analysis, audited financial statements, and related filings), and coordination of external audits of the Company and subsidiaries
information to A.M Best and other rating agencies as required
abreast of and ensure adherence to internal, federal and state regulatory policies and procedures related to accounting, finance and investments; respond to NAIC and state regulatory inquiries
Budget, planning, & financial analysis –
the budgeting and planning activities of the Company
expenses and report against Plan
cost/benefit analysis, lease/buy analysis and other analysis as needed
Risk management & internal controls –
Lead the Enterprise Risk Management Committee which includes assessment and mitigation of major risks facing the Company
Champion internal controls throughout the Company and especially in banking and financial functions
Actuarial services –
oversight and strategic guidance to the Actuarial department to ensure necessary coordination for required financial reporting and to ensure pricing and product development efforts align with risk tolerance and long-term growth goals
with soliciting relevant input from Chief Actuary for strategic planning and risk management matters
Treasury functions –
Manage bank/financial institutions relationships to ensure reliable and cost efficient relationships
Monitor cash flows to meet financial plans and ensure minimum cash reserve level is maintained; communicate with external asset managers as cash needs change
Periodically evaluate bank/financial institution performance and fees
Taxes –
the filing of income taxes, premium taxes, and other taxes and timely tax deposits
the filing of tax information reporting (1099s, 5498s, etc.) documents
Agent commissions & contracting –
the contracting of agents and processing of new business applications
payment of agent commissions, including the calculation and payment of approved agent bonuses
monitoring and collection of agent debit balances
Enterprise project management –
oversight and strategic guidance to the Company's Enterprise Project Management Office to ensure all activities align with executing upon the short- and long-term goals of the organization
engagement of EPMO for approved interdepartmental projects
Other duties –
participation in Executive Team and other committee meetings
monitor and evaluate the performance of financial division staff; recommend and implement personnel actions such as realignments, promotions and dismissals
Qualifications
Bachelor's degree in finance or accounting; MBA a plus
Certified Public Accountant (CPA) or Certified Management Accountant (CMA) certification strongly preferred
8-10 years of management level work experience in financial reporting and/or investments within the insurance industry required
Technical and fundamental understanding of statutory accounting principles; GAAP knowledge a plus
Highest standards of integrity, loyalty, honesty, moral and ethical values
High degree of accuracy and attention to detail
Internal control orientation
Superior written and verbal communication skills
Strong knowledge of investments and investment accounting
Strategic thinker with the ability to plan, organize and manage for organic growth and change
Strong decision-making skills; ability to exercise independent judgment
Ability to present complex information in a way that enables business leaders to make informed decisions
Ability to establish credibility throughout the organization as an effective problem solver and trusted advisor; proven ability to develop and propose solutions to complex business challenges
Ability to perform well under pressure of multiple deadlines and environments
Operationally oriented, with the ability to appreciate and identify with operating executives and the issues and opportunities of the business
Knowledge of risk management practices, including identification, mitigation and monitoring
Able to travel
Strong Microsoft Office skills
Must be currently located in or willing to relocate to Peoria, Illinois area

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