VP Finance and CFO

Western Reserve Group•Wooster, OH

1d•Onsite

About The Position

The Chief Financial Officer (CFO) directs all aspects of the accounting and financial activities of the company, providing leadership and coordination in business planning, accounting, budgeting and other tasks necessary to achieve the company’s strategic plan.

Requirements

4-year degree in accounting
Minimum of ten years of industry experience, preferably P&C insurance
CPA designation required
Exceptional leadership and people skills required
Strong business acumen; analytical, communication, problem-solving skills; and demonstrated effectiveness in strategic planning, organization and execution required
Demonstrated ability to effectively negotiate and manage difficult situations
Ability to analyze financial data and prepare financial reports, statements and projections
Knowledge of finance, accounting and budgeting principles required
Requires effective written and verbal communication and interpersonal skills; ability to motivate teams to produce quality materials within timeframes and simultaneously manage several projects
Ability to foster and cultivate business opportunities and relationships

Nice To Haves

Post-baccalaureate degree in a related field is a plus
Insurance industry course work or professional designations (e.g. CPCU) is a plus

Responsibilities

Supervises and coordinates the work of Accounting, Risk Management and Investments.
Establishes and implements departmental goals, objectives, policies and procedures.
Ensures that employees are properly trained and supervised and provides for appropriate succession management.
Ensures accurate financial records are maintained and that financial statements, financial reports and financial analyses are prepared and performed on a timely basis.
Analyzes key financial metrics to identify key trends in the business, including opportunities to improve the financial results.
Ensures that the company is in compliance with regulatory, tax and accounting requirements.
Establishes and maintains appropriate internal control safeguards within accounting to ensure the completeness and accuracy of financial data.
Coordinates and assembles the annual corporate plan and assists in presenting to the Board of Directors.
Assists in the development and implementation of strategic business and/or operational plans and projects.
Manages the annual operating and capital budget process for input into the corporate plan.
Ensures that budget variance reports are prepared and analyzed monthly.
Assists departments, as necessary, in improving departmental operations to realize efficiencies, reduce costs and improve controls.
Assists the President in long-term strategic planning, assuring that all appropriate efforts are made to maximize the company’s financial position.
Responsible for the development of the company’s investment policy, including appropriate asset allocation targets, to ensure the investment strategy complements the overall business strategy and risk tolerance.
Responsible for the coordination of the Group’s loss and loss adjustment expense reserve review with the outside actuaries, auditors and regulators and is the key contact for inquiries from all parties.
Chairs the internal Reserve Committee with the responsibility of assuring the company adheres to the targeted reserve margins as approved in the reserving policy.
Negotiates and administers the company reinsurance program.
Performs a regular review of the reinsurance program, including reinsurers in the program, to ensure the program complements the overall business strategy.
Chairs the internal ERM Committee with the responsibility of assuring the reinsurance philosophy aligns with the overall business strategy.
Negotiates and administers the corporate insurance program (D&O, fidelity bond, commercial package).
Coordinates federal tax planning issues primarily between accounting and investments.
Reviews and identifies strategies to minimize federal, state and local income taxes.
Manages the relationships with external auditors, regulators and bankers.
Attends board meetings and appropriate committee meetings as a management attendee providing financial analyses and recommendations, as necessary.
Assists in the preparation of committee charters, meeting agendas and minutes and stays abreast of developments within the NAIC to maintain appropriate corporate governance policies and procedures.
Responsible for establishing the overall risk management framework, including the establishment of risk metrics and methodologies for identifying, evaluating and monitoring risk exposures.
Chairs the internal ERM Committee with the responsibility of communicating all aspects of the risk function to the Risk Committee of the Board.
Participates in other various standing risk management committees such as Operating Committee, Loss Reserve Committee, Pricing Committee, Employee Benefits Committee and the 401(k) Trustee Committee.
Maintains oversight over the administration of the company’s deferred compensation plan, including coordination of contributions and distributions with Charles Schwab (recordkeeper).
Participates in due diligence on merger and acquisition activities.
Acts as a financial consultant by providing financial counsel and assistance to the various business units.
Completes other projects as assigned by the President.
Responsible for objective-setting, performance evaluation and salary administration for all accounting management, with ultimate responsibility for the entire department.