SVP, Chief Financial Officer

POSITION SUMMARY:The Chief Financial Officer oversees all financial activities for the organization. This includes preparation of financial reports as well as summaries and forecasts for future business growth and the general economic outlook for Maryland business related to Workers Compensation. The Chief Financial Officer provides strategic leadership for the company by working with the Executive Team to establish long-range goals, plans, and policies, which will ensure the solvency of the organization.

MAJOR AREAS OF ACCOUNTABILITY:1.    Responsible for the daily oversight of the Finance Department, including accounts payable, accounts receivable, payroll, budgeting, daily financial reconciliations of check registers and other ancillary financial reconciliations, billings and collections. Includes supervision of 4 direct reports and a staff of 18 teammates.2.    Responsible for the weekly analysis of claims disbursements and revenue.  3.    Monthly preparation of financial reports which include investments, revenue, claims, reserves, and operating expenses and other ancillary reports as needed. 4.    Monthly presentation of financial reports including trend analysis and to Chesapeake Employers’ Insurance Company’s board of directors.  Analysis includes revenues, expenses, reserves, operating expenses, budget to actual analysis, prior year to current year analysis and other related financial reporting.5.    Monthly review and analysis of operating expenses to include general and administrative budget, bad debt expense, bank fees, depreciation, and other related expenses.6.    Monthly preparation of any related financial reports requested by Chesapeake Employers’ Insurance Company’s Board or senior management.7.    Quarterly preparation and filing of statutory accounting reports with Maryland Insurance Administration.8.    Annual preparation of forecast for presentation and approval with Chesapeake Employers’ Insurance Company Board of Directors.  Forecast includes revenue projections, trend analysis, pricing strategy, operating and expense budgets and capital budgets.9.    Responsible for timely reporting of any financial fluctuation, with recommendations for changes to any adverse financial trends, to the senior management of the company.10.    Responsible for reinsurance negotiations, pricing, alternative coverage and contracts.11.    Oversees development of pricing strategies.12.    Responsible for reserves, including annual projections, monthly development, communications and contracts with actuarial consultants, etc.13.    Implement and enforce policies and procedures for the organization that have financial impact by looking for methods to improve overall operational effectiveness.14.    Provide strategic financial input and leadership on decision-making issues affecting the organization.15.    Ensure accurate and timely statutory and GAAP reporting, including interaction with external auditors throughout the annual audit process.16.    Review alternatives to maximize operating gains and grow surplus.17.    Review Risk Based Capital model, analyze positive and negative contributors to maximize and grow surplus, and provide options to comply with RBC requirements (or grow surplus to desired level).18.    Supervise the development of management reporting. 19.    Keep senior management informed on statutory and GAAP issues. Plan for changes to minimize financial impact. 20.    Supervise general accounting functions.21.    Oversee procurement process and contracts.

SKILLS, EDUCATION AND EXPERIENCE:1.    Bachelor’s Degree required, postgraduate degree desirable.2.    Certified Public Accountant required.3.    10+ years relevant insurance experience including demonstrated career development and advancement throughout this period.4.    Thorough knowledge of GAAP and statutory accounting.5.    8+ years management experience. 6.    Demonstrated superior skills in the competencies of leadership and management, strategic thinking and planning, professionalism, business and financial acumen, customer service, and communications. 7.    General PC skills.8.    Bilingual skills preferred.

POSITIONAL COMPETENCIES:

Bias for Action Knowledge Sharing Deliver Results Sales and Service Excellence Personal Leadership Teamwork and Communication

PHYSICAL DEMANDS: While performing the duties of this job, the teammate is regularly required to sit, use hands to finger, handle or feel objects, tools or controls; reach with hands and arms. The teammate is occasionally required to stand, walk, stoop, kneel, crouch or crawl. The teammate may occasionally lift up to 30 pounds. Specific vision abilities are required, which include, close vision, peripheral vision and the ability to adjust focus. WORK ENVIRONMENT: Office environment.  The noise level is usually moderate.