Highly profitable mutual insurance company has retained The Carlisle Group seeking to hire a talented Treasurer & Chief Financial Officer. This role, reporting to the CEO, will be the lead finance executive for the organization. The client is seeking a savvy CFO who will bring a new, and fresh perspective to the organization. This role will be ideal for a talented executive that wants to drive growth, improve internal processes, and help a carrier progress into new states & new lines of business.
The Treasurer and Chief Financial Officer is responsible for directing the fiscal functions of the Company in accordance with Statutory Accounting Principles and financial management techniques and practices appropriate within the insurance industry. The Treasurer/CFO also provides executive management and oversight for the Accounting Department and oversees the corporate investment portfolio. The Treasurer/CFO is an active member of the organization’s executive leadership team.
Essential Duties and Responsibilities include, but are not limited to, the following:
- Provides direct leadership in the development and continuing evaluation of short and long-term strategic financial objectives.
- Coordinates and oversees all fiscal activities and functions. Advises accounting management on complicated transactions.
- Audits the work of the Accounting Department.
- Responsible for integrity, accuracy and timeliness of all internal and external financial reporting, statements and ledgers.
- Builds and utilizes financial models and systems for proactive analysis of results and forecasting.
- Documenting and testing financial reporting controls
- Coordinate the review of controls by all departments
- Prepares pro forma statements.
- Leads enterprise risk management efforts.
- Oversees all aspects of corporate investment activities to ensure compliance with corporate investment strategy.
- Responsible for the development of fiscal policies, systems, special financial studies, etc. of major importance.
- Participates in corporate business planning. Leads Accounting departmental business planning.
- Responsible for administration of company-wide expense reporting.
- Prepares and updates reinsurance, open catastrophe, month end, and policy count, and NCCI, independent state rating bureaus and ISO premium reports.
- Coordinates with actuaries relating to loss reserving.
- Processes transactions and prepares reports relating to reinsurance.
- Monitors bank accounts and balances bank statements.
- Responsible for the corporate budget. Oversees preparation and distribution of monthly budgets.
- Oversees the preparation of tax forms and payments, including miscellaneous related reports.
- Manages the company’s automobile-use program including employee’s personal vehicles and/or company fleet.
- Assists with AM Best presentation and prepares SRQ. Assures compliance with all AM Best timelines and document requirements.
- Interacts with state insurance regulators regarding various financial filings, audits and other issues.
- Coordinates with outside auditors regarding periodic audits.
- Oversees preparation of quarterly and year-end filings.
- Prepares bi-monthly board reports and quarterly Audit & Finance Committee reports
- Lead communicator with external auditors
- Providing education and training to senior management on important accounting issues
- Oversees Accounting Department budgeting, salary administration and other departmental administration tasks.
- Directly supervises Accounting Department leadership team. Monitors performance and provides guidance, feedback, formal performance assessments, and salary recommendations. Supports supervision of Accounting Department staff.
- Responsible for projects/assignments as designated by the board of directors, CEO and/or executive management team.
- Maintains current knowledge of the economic and investment environment
Holds major role for the enterprise in key risk management areas including:
- Monitoring and reporting on capital adequacy and profitability trends for all entities to management, board, and external constituents.
- Evaluates and advises on the impact of long range planning, introduction of new programs/strategies, and rating and regulatory actions/directions.
- Works with executive officers to ensure a disaster recovery plan is in place.
- Works with the Outside Actuaries to manage the Company’s ERM risk management plan.
- Ensures that effective internal controls are in place.
- Ensures compliance with STAT, GAAP and applicable federal, state and local regulatory laws and rules for financial and tax reporting.
Total Team Responsibilities:
- Participate as a member of the Executive Team and other team or special committee assignments.
- Authority to make decisions to carry out the operations of enterprise as defined by the CEO.
- Assists in performing all tasks necessary to achieve the enterprise’s mission and help execute staff succession and growth plans.
- Works with CEO on the strategic vision including evaluation of new business strategies and expansion possibilities.
Qualifications & Experience:
- Bachelor's degree in finance or accounting from a four-year college or university.
- Ten or more years’ experience in increasingly responsible accounting or finance positions.
- Minimum of 10 years of leadership experience
- CPA required
- Strong knowledge of Statutory Accounting Principles, GAAP and IRS rules and regulations applicable to the Company required.
- Excellent organizational skills. Ability to prioritize work and meet deadlines.
- Working knowledge of Word, Excel and email systems.
- Excellent oral and written communication skills.
- Strong attention to detail.
- Good interpersonal skills. Ability to build rapport, provide motivation, resolve conflicts, build teamwork and coach employees to attain company, department and team objectives.
- Ability to work independently and to carry out assignments to completion with minimum supervision.
- Occasional travel may be required.