Director of Treasury & Investment Management (Hybrid)

Utica National Insurance Group • New Hartford, NY

5d • Hybrid

About The Position

The Director of Treasury & Investment Management is responsible for the liquidity, capital, and financial risk management of a mutual insurance enterprise in support of its policyholders. The role oversees investment operations, treasury operations, liquidity, banking relationships, and financial risk governance, while partnering closely with the CFO, Investment Managers & Advisors, and specific sub-committees of the Board of Directors. As a mutual insurer, this role places a strong emphasis on surplus protection, conservative capital management, balance sheet strength, rating agency confidence, and regulatory compliance, rather than short-term earnings optimization.

Requirements

• Bachelor's degree in Finance, Accounting, Economics, Business Administration, Corporate Finance, Financial Management in another related field required.
• More than 10 years progressive treasury, finance, or investment experience, preferably within P&C Insurance or financial services or asset management preferred.
• Candidates who have accepted a formal offer must be willing to undergo a comprehensive background check and drug screen; additional screening for credit or MVR may be required for some positions.

Nice To Haves

• MBA, CPA, or CFA designation preferred.

Responsibilities

• Partner with CFO, Finance Committee, and external advisors to develop, recommend, and maintain the enterprise investment strategy, ensuring the company’s risk appetite and long-term objectives of a Mutual insurer.
• Oversee investment operations and controls for a ~$4B portfolio.
• Coordinate with external asset managers, custodians, and investment advisors.
• Monitor investment performance, compliance, and operational risks.
• Oversee Credit & Collections team for $2B of annual premium.
• Manages enterprise Distribution Center.
• Oversee enterprise-wide liquidity management, including operating cash, claim payments, collateral, and investment settlement activity.
• Ensure sufficient liquidity under adverse scenarios, including catastrophe events and market stress, leveraging cash generated from a laddered portfolio, as well as lines of credit.
• Support capital planning and capital adequacy analysis in coordination with finance, risk, and actuarial teams.
• Evaluate and execute capital actions, including dividends from subsidiaries to mutual parent, surplus notes, debt issuance, and capital contributions, as needed.
• Partner with executive leadership, as well as BOD Subcommittees on balance sheet optimization and return on capital objectives.
• Manage exposure to interest rate, credit, counterparty, and market risks.
• Oversee collateral management.
• Support enterprise risk management (ERM), ORSA, and economic capital processes.
• Manage relationships with banks, custodians, rating agencies, and capital markets participants.
• Negotiate and maintain credit facilities, letters of credit, and other financing arrangements.
• Oversee treasury-related contracts and counterparty agreements.
• Support regulatory filings and examinations related to liquidity, investments, and capital.
• Participate in rating agency presentations and discussions (AM Best, S&P, Moody’s, Fitch).
• Ensure treasury activities comply with insurance regulations, internal policies, and governance standards.
• Provide treasury leadership on M&A, divestitures, and strategic initiatives.
• Assess funding, liquidity, and capital implications of transactions.
• Support integration planning for acquired entities.
• Performs other duties as assigned.
• Conforms with all corporate policies and procedures.

Benefits

• Medical and Prescription Drug Benefit
• Dental Benefit
• Vision Benefit
• Life Insurance and Disability Benefits
• 401(k) Profit Sharing and Investment Plan (Includes annual Company financial contribution and discretionary Profit Sharing contribution based upon annual company financial results)
• Health Savings Account (HSA)
• Flexible Spending Accounts
• Tuition Assistance, Training, and Professional Designations
• Company-Paid Family Leave
• Adoption/Surrogacy Assistance Benefit
• Voluntary Benefits - Group Accident Insurance, Hospital Indemnity, Critical Illness, Legal, ID Theft Protection, Pet Insurance
• Student Loan Refinancing Services
• Care.com Membership with Back-up Care, Senior Solutions
• Business Travel Accident Insurance
• Matching Gifts program
• Paid Volunteer Day
• Employee Referral Award Program
• Wellness programs
• Personal Insurance Discount

What This Job Offers

• Job Type: Full-time
• Career Level: Director