Associate Director of Specialty Programs - State National

Markel Corporation•Richmond, VA

37d•Hybrid

About The Position

What part will you play? If you're looking for a place where you can make a meaningful difference, you've found it. The work we do at Markel gives people the confidence to move forward and seize opportunities, and you'll find your fit amongst our global community of optimists and problem-solvers. We're always pushing each other to go further because we believe that when we realize our potential, we can help others reach theirs. Join us and play your part in something special! What part will you play? If you're looking for a place where you can make a meaningful difference, you've found it. The work we do at Markel gives people the confidence to move forward and seize opportunities, and you'll find your fit amongst our global community of optimists and problem-solvers. We're always pushing each other to go further because we believe that when we realize our potential, we can help others reach theirs. Join us and play your part in something special! The Associate Director, Specialty Programs oversees the risk mitigation activities for those programs with design structures that deviate from State National's standard model. To ensure that the risks associated with these Specialty Programs (SP) are successfully monitored and mitigated, the Associate Director determines the financial and credit risks, and implements risk mitigation strategies. The Associate Director acts as a consultant to the SP programs to aid in the implementation of risk mitigation processes including: implementing effective reconciliations over all areas impacting the premium trust, documenting controls in place and suggesting the implementation of new controls. Also, the Associate Director helps these programs implement documentation of the control structure to include: flowcharts, risk control matrices and narratives. The Associate Director monitors the results from the risk mitigation strategies and communicates the results to the EVP and executive management. New programs: Participate in developing risk mitigation plans for new alternative risk programs including: risk identification, contractual terms and covenants, risk mitigation strategies, oversight procedures and communication and reporting framework. Liaise with the various functional areas to determine that each area is aware of any unique attributes of the new program and that any regulatory, accounting, reporting and risk issues are addressed prior to signing. Assist with due diligence for potential new deals. Existing programs: Monitor potential risks from a cash/credit/financials perspective. Analyze and approve the premium trust account cash extraction requests. Analyze and review the general agency's monthly financial statements and reconciliations, and provide the clients with process improvement suggestions. Identify and escalate emerging risks to SNC management. Prepare financial statement forecasts and analyze the variances from budget and actual. Work with accounting/finance teams to resolve any issues and provide the appropriate level of client service. Analyze and monitor contingent commission estimates and ultimate loss ratios. Review the cash controls and bank account activity. Liaise with the various functional areas within SNC (PAR, Actuarial, Reinsurance, Legal and Client Services) to ascertain that the identified risk control processes are in place and functioning effectively. Assist with preparation of the quarterly reports regarding the risk status of all SP. To the extent there is a significant negative change to the status of a SP, work with functional areas to develop remediation plan. Monitor progress on any remediation plans in effect and communicate to SNC management. Assume projects/special duties as assigned by Director - Specialty Programs.

Requirements

Intermediate or higher level of knowledge of Microsoft Office products or equivalent programs, particularly Excel.
Ability to work independently or in a team environment.
Sound judgment and decision-making skills.
Strong analytical skills.
Experience working with difficult individuals in stressful situations.
Strong relationship skills.
Excellent organizational skills.
Must have excellent oral and written communication skills.
Must be a person of high integrity. No other duties or relationships should interfere with this individual's decision making.
Able to obtain agreement from multiple parties, earn trust while working through issues, use good timing and strategies when communicating findings, and identify hidden agendas that might interfere with appropriate resolution.
Able to use a win-win approach to resolve controversy, stay objective and fair in sensitive situations, and maintain constructive working relationships despite disagreement.
5+ years of senior-level experience in financial analysis.
5+ years of senior-level experience in financial statement/control auditing or credit analysis.
Bachelor's degree in Accounting or Finance.
US Work Authorization required. Markel does not provide visa sponsorship for this position, now or in the future.

Nice To Haves

CPA designation preferred.

Responsibilities

Participate in developing risk mitigation plans for new alternative risk programs including: risk identification, contractual terms and covenants, risk mitigation strategies, oversight procedures and communication and reporting framework.
Liaise with the various functional areas to determine that each area is aware of any unique attributes of the new program and that any regulatory, accounting, reporting and risk issues are addressed prior to signing.
Assist with due diligence for potential new deals.
Monitor potential risks from a cash/credit/financials perspective.
Analyze and approve the premium trust account cash extraction requests.
Analyze and review the general agency's monthly financial statements and reconciliations, and provide the clients with process improvement suggestions. Identify and escalate emerging risks to SNC management.
Prepare financial statement forecasts and analyze the variances from budget and actual.
Work with accounting/finance teams to resolve any issues and provide the appropriate level of client service.
Analyze and monitor contingent commission estimates and ultimate loss ratios.
Review the cash controls and bank account activity.
Liaise with the various functional areas within SNC (PAR, Actuarial, Reinsurance, Legal and Client Services) to ascertain that the identified risk control processes are in place and functioning effectively.
Assist with preparation of the quarterly reports regarding the risk status of all SP.
To the extent there is a significant negative change to the status of a SP, work with functional areas to develop remediation plan.
Monitor progress on any remediation plans in effect and communicate to SNC management.
Assume projects/special duties as assigned by Director - Specialty Programs.

Benefits

All full-time employees have the option to select from multiple health, dental and vision insurance plan options and optional life, disability, and AD&D insurance.
We also offer a 401(k) with employer match contributions, an Employee Stock Purchase Plan, PTO, corporate holidays and floating holidays, parental leave.
Markel offers hybrid working schedules of 3 days in the office and 2 days remote.

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