The CFO is responsible for financial planning, accounting, reinsurance, regulatory reporting, and budgeting for Grange Insurance Group (GIG). The CFO partners with our CEO to provide leadership over Grange Insurance Group’s financial operation and fiscal strategy. In collaboration with our CEO, the CFO ensures financial initiatives, programs and procedures align with the corporate vision and strategic plan. The CFO monitors the financial health of the organization’s operations.
Principle Duties and Responsibilities:
- In conjunction with the CEO, develops and executes GIG’s financial strategy and provides key leadership in the development and continuous evaluation of short- and long-term strategic financial objectives.
- Responsible for integrity, accuracy, and timeliness of all internal and external financial reporting. This includes quarterly reports and updates to the Departments of Insurance.
- Oversees annual budget preparation. Assures ongoing compliance with budget and conducts analysis on same.
- Manages and maximizes GIG’s assets by working in cooperation with the CEO and external investment portfolio managers to develop the organization’s investment portfolio and activity in conjunction with Board policy and guidelines. Maintains asset reports, recommends and analyzes changes to asset allocation and within asset class, and keeps IPS current and appropriate.
- Plans and oversees ceded reinsurance program with intermediaries and partners. And, in collaboration with the CEO, negotiates reinsurance contracts.
- Oversees Loss and LAE quarterly and annual reserving.
- Provides periodic reports and updates to A.M. Best.
- Serves as lead officer for the Audit Committee.
- Serves on and chairs the organization’s 401(k) committee. Monitors 401(k) plan investment fund performance, recommends fund changes, and monitors expense ratios and fees. Works with external actuarial partners to ensure that GIA’s frozen defined benefit plan is adequately funded.
- Analyzes and interprets various statistics and financial reports to evaluate operating performance, opportunities and risks. Reports activity regularly to the Board of Directors and CEO. Partners with senior leaders to bring financial perspective and analysis to ensure effective and sound business decisions.
- Directs, formulates, and implements accounting principles, policies and procedures and all technical aspects of the organization’s financial practices; oversees adherence to such policies and maintenance on technical matters. Ensures that financial processes and accounting activities are financially compliant.
- Provides financial input into the Enterprise Risk Management process.
- As a member of the Company’s senior leadership team, regularly participates in development of company-wide strategies, plans, goals and objectives.
- Oversees financial audits and tax activities.
- Other duties as needed or required.
- The Controller reports to this position.
- Maintains staff by recruiting, selecting, orienting, and training employees; maintains a safe, secure, and legally compliant work environment; works with staff for their professional development. Fosters engagement across the team.
- Accomplishes staff results by communicating job expectations; planning, monitoring, and appraising job results; coaching, counseling, and providing performance management; developing, coordinating, and enforcing systems, policies, procedures, and productivity standards.
Qualifications & Skills:
- Bachelor’s degree in Accounting or Finance, CPA or CMA, and 10 years of statutory accounting experience.
- Related experience (CFO, Controller, or Chief Accounting Officer) in a Property & Casualty company to include at least five years supervising others. Experience in a public accounting firm auditing P&C companies may substitute.
- Strong actuarial knowledge of loss and LAE reserving. Familiar with the Actuarial opinion.
- Familiar with Schedule P and the importance of Accident Year Loss and LAE analyses
- Knowledge of financial software such as FIS/EAS.
- Strong verbal and written communication skills.
- Excellent interpersonal skills required to work well with internal and external customers, business community and Board of Directors.
- Some travel required to professional conferences and business partner meetings.
- Deals with confidential information and/or issues using discretion and judgment.
- Master’s degree in Accounting or Finance.