An exciting opportunity exists to join the ProAssurance family of companies!
We are a specialty writer of professional liability, products liability and workers' compensation insurance. With over 1,000 employees operating in 40 states, our company is well positioned to offer career opportunities to individuals interested in professional growth.
The Manager of Finance is responsible for capital and risk model analytics, managing all rating agencies relations and overall data management. The position is considered an integral part of the investment team using data analysis and forecasting to aid in the optimal use of capital in both financial management of the insurance company subsidiaries, as well as the investment portfolios.
Essential Duties and Responsibilities:
33% Investment responsibilities:
- Responsible for monitoring key metrics such as Value-at-Risk for the investment portfolio, company ROE, risk-adjusted returns and liquidity.
- Model assumed investments for optimal return/capital aspects, recommending investment strategies based on capital analytics.
- Leads analysis of new investments, due diligence, and ad hoc projects as assigned by CIO or senior leadership team
- Works with outside asset manager and other financial institutions to support a better investment outcome; use outside models to help form better understanding of investment environment.
- Provides support to CIO and investment team to determine the most cost-effective strategies for financing the company's business initiatives and optimizing the capital structure.
- Provides input in relation to financial risk management and enterprise risk management initiatives
33% Manages rating agency relationships as well as data management for all agencies (AM Best, S&P, Moody's, and Fitch); manages the process of collection, compilation and filling. The incumbent stays informed with changes in rating methodology and insurance industry developments, as well as understanding each rating agencies models and idiosyncrasies.
- Responsible for maintaining the capital models and keeping the management informed with all rating related forecasts
- Leads maintaining relationships with the rating agencies to ensure that the ProAssurance business plans and strategies are well supported
- Leads the preparation of agenda and presentation materials for periodic updates and meetings with rating agencies analysts.
- Responsible for periodic analysis of metrics related to industry peers and competitors. Creates and uses relevant dashboards and benchmarks; the incumbent is a trusted internal source for insurance industry anlaytics.
20% Planning and forecast activities:
- Completes annual bank forecast and ensures compliance with lender's bank covenant.
- Leads the annual statutory forecast and provides timely input for tax and budgeting activities
- Creates Lloyd's syndicate management reports and internal rate of return forecast
- Stays informed of industry trends and outlook and develops peers and competitors forecasts for benchmarking with a focus on capital adequacy ratios: BCAR and RBC.