Chief Financial Officer
- San Diego, CA
ICW Group Insurance Companies is recognized nationally as an insurance leader in helping policyholders achieve fewer and less costly claims in both Property & Workers' Compensation. We are looking for a talented Chief Financial Officer to manage all aspects of the organization’s financial position and contributes to both strategic and operating decisions of the enterprise. The role ensures accurate, timely and compliant forecasting and reporting of financial results in order to plan and make optimal business decisions across the enterprise which enhance business performance and shareholder value.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Develops and executes a financial strategy optimizing the Company’s current and projected financial position, in alignment with business strategy and considering the external economic environment.
- Provides both budget and business forecasts in support of enterprise growth plans.
- Collaborates with other executives to execute on the annual business planning process.
- Develops supporting documentation provided to external evaluating agencies, such as stock analysts and AM Best, to enhance Company’s ratings.
- Provides advice and guidance to Line of Business leaders regarding financial strategies and the economics of business operations and planning. Oversees the creation of LOB-specific economic and business models.
- Develops and utilizes forward-looking predictive models and other state-of-the-art strategies and tools to provide insight into enterprise operations and business plans.
- Ensures proper tools, policies and procedures are in place to facilitate achievement of financial strategy.
- Oversees analysis of enterprise operations to identify cost savings opportunities. Proposes initiatives that promote efficiency and/or effectiveness.
- Participates in assigned governance committees and contributes expertise and advice to Company strategic initiatives, such as information security, data and digital transformation.
Ensures timely and accurate budgeting and financial analysis is conducted and provides statutory, GAAP and tax reporting for all units across the enterprise.
- Oversees all accounts, ledgers and reporting systems, ensuring compliance with GAAP, Statutory Accounting Principles and FASB rules.
- Maintains internal control safeguards and coordinates all audit activities.
- Collaborates with IT Leader to coordinate project and other IT-specialty finance requirements.
- Oversees annual budgeting process and ensures that proper periodic review and reporting is conducted in the business units. Initiates early warning to businesses when budgeted revenues are in danger of not achieving targets.
- Develops and maintains capital budget.
- Provides guidance and oversight to the analysis of proposed business initiatives.
- Collaborates with Actuarial Department in rate-setting strategies and development of fiscal models.
- Provides reporting to the Company Board of Directors and provides expertise in interpretation and analysis of results.
- Oversees all tax liability ensuring that returns are filed completely, accurately and timely and all tax obligations are properly managed.
- Ensures regulatory and legal compliance for all finance and accounting functions
Directs Corporate Treasury activities with consideration for risk and liquidity.
- Oversees the capital structure including the ratio of debt, equity and internal financing.
- Manages the organization’s cash position ensuring a reliable cash flow projection process and proper reporting and controls are in place and cash is available as needed and maximized.
- Maintains positive relationships with banking and other financial vendors and initiates proper strategies to enhance cash positions.
- Approves the signature authority of all officers and determines appropriate check signers for all Company accounts.
Oversees the investment and other financial activities of ICW Group Holdings, Inc.
- Works with banks, investors or other agencies to raise capital as required for expansion.
- Manages the Company stock independent valuation process. Serves as liaison with valuing agency, providing information to assist in the semi-annual valuation.
Serves as a Leader and Role Model in Organization
- Develops a strong fiscal framework and infrastructure for disciplined execution for company initiatives
- Champions fiscal responsibility and promotes financial literacy across the enterprise.
- Provides leadership and/or sponsorship for cross-enterprise projects and initiatives.
Develops and leads Finance team and manages the Finance Department including Premium Accounting, Premium Audit, and General and Cost Accounting in its daily operations.
- Provides strategic and tactical direction to Finance Team Department. Communicates Mission, Values and other organization operating principles to direct and indirect reports.
- Establishes and maintains the overall work cadence and, in partnership with Finance leaders, ensures performance and outcomes strive for excellence in delivery and customer experience. Ensures that the entire team is engaged and that leadership practices in the department encourage development, recognition and retention.
- Establishes and holds managers accountable to hiring criteria, on-boarding and training requirements for incoming staff.
- Oversees the performance management and development process for the department and performs performance management duties, development planning and coaching for direct reports.
- Acts as a resource for Finance leaders and team members to answer questions and solve complex problems.
- Manages department budget, technology and other resources, workload and customer requests for Finance. Ensures adherence to all Company policies and procedures and compliance responsibilities.
This position directly supervises positions up through Director and indirectly supervises Finance Department of approximately 50 Team Members.
EDUCATION AND EXPERIENCE
Degreed professional (preferably finance MBA) and CPA with a background in public accounting and commercial insurance strongly preferred.
An accomplished insurance industry financial professional with a career demonstrating increasing responsibility as a senior financial leader, typically with 15 or more years in the industry. Highly effective in strategic development, controls and systems, corporate finance, treasury activities, risk management and reinsurance.
Deep P & C industry financial experience with solid working knowledge of statutory accounting rules, GAAP and other legal requirements (e.g., FASB, IRS, etc.) as they pertain to the insurance industry. Strong knowledge base of industry business intelligence.
Demonstrated leadership ability at the senior level in an organization with strong sense of urgency and drive, successful history of executing on major initiatives and as a major contributor to the senior management team of the Company.
KNOWLEDGE AND SKILLS
Highly developed financial skill sets in the areas of financial analyses, budgeting and forecasting, as well as financial systems and reporting, and asset management.
Working knowledge of the financial modules of Enterprise Resource Planning systems – preferably SAP - and general knowledge of ERP applications across the enterprise.
Effective strategist with experience in establishing and executing on vision and strategy for enterprise growth. Experience in effectively implementing change – technology and process – required.
Must have solid understanding of emerging technology, including digitization, artificial intelligence and machine learning and its impact on financials and business operation to support company strategy.
Must be a highly credible and effective people manager and organization champion. Strong collaboration skills and demonstrated success in building and maintaining a high performing team.
Must have excellent communication and presentation skills, combined with outstanding interpersonal skills at all levels in the Company and with external constituencies.
Must demonstrate a strong sense of integrity and commitment to ethical behavior and be able to hold others accountable to those standards.
CERTIFICATES, LICENSES, REGISTRATIONS
CPA strongly preferred
This position maps to the Executive level. Additional competencies required: None.
While performing the duties of this job, the employee is regularly required to sit or periodically stand and work on a computer for 80-90% of time. Will be viewing a video monitor 80-90% of time. The employee is occasionally required to reach with hands and arms and climb or balance. The employee must frequently lift and/or move up to 5 pounds and occasionally lift and/or move up to 25 pounds.
The noise level in the work environment is usually moderate.
If you are looking to join a stable, growing organization we would love for you to bring your talents to ICW Group!
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