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Job Description Summary
This role leads the P&C Commercial Lines Finance teams in providing financial management to the businesses including timely, accurate, and actionable financial data, business and industry insights, pricing & underwriting partnership, and financial reporting and planning. The position is required to consult with business and matrix leadership on the development and execution of strategies that effectively position the business in extremely competitive industries. This role is a member of the CL Senior Leadership Teams and P&C Finance Leadership team.
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Job Description
Reporting Relationships: SVP, CFO Property and Casualty Finance
Core Duties and Responsibilities:
- Strategic Influence: Serve as a key influence and participant in the development and execution of strategies that are designed to balance long-term growth, profitability, competitiveness, and risk management supporting P&C Commercial Lines. Develop analytics, recommendations, and portfolio solutions in support of product management, operational capabilities, and risk/return constraints.
- Strategic and Operational Planning: Leadership of the businesses planning processes. For the strategic plan, provide thought leadership, financial forecasting support, and reporting for the key initiatives. Develop the annual operating plan and supporting budgets (departmental, non-departmental, corporate allocation projections); and drive prioritization and funding of strategic and tactical initiatives based on the alignment with business plans and strategies.
- Analysis and Support: Provides oversight and leadership to financial analytics and insights including financial modeling & analysis, acquisition/adoption analysis, product profitability and pricing, regulatory compliance and Board reporting, case retention, illustration system updates and maintenance, and other adhoc requests, to ensure appropriate support of the management decision process.
- Pricing, Risk, and Capital Management: Assess and quantify business risks, and develop and implement risk management strategies in support of business tactics and goals. Monitor financial business performance against forecasts and assumptions; develop and assess business opportunities to support business decisions about resource allocation and prioritization around product development and innovation efforts; Analyze distribution channel and firm profitability. Actively participate in and influence the product development processes and support operational teams in the business decision process. Role will also provide oversight of pricing for Standard Commercial lines.
- People Leadership: Develop and cultivate an engaging environment for P&C Finance associates that supports both personal and professional development and growth. Work across NF Finance on talent training and development.
Breadth Across Enterprise
P&C Commercial Lines: Standard Lines, Small and Middle Market
Lines of business P&L support: Standard Commercial Lines – Finance
Financial Responsibility and Scope
Revenues of $3B for CL; $1.7B in reserves for Indemnity, as well as associates reserves
Leadership Accountability
- Provides strategic leadership at the executive level to support and influence the growth, profitability, risk, and capital for P&C commercial lines. Examines industry trends and development, competitor information, and at times the voice of the customer. Works closely with government relations on tax preference policies. Develops the risk, return, and product management strategies. Provides guidance on how to achieve strategic growth goals including organic and/or M&A.
- Serve as a key influencer and participant in the development of strategies that are designed to support long-term growth, profitability, and competitiveness. Partners with key matrix leadership on similar strategies impacting performance and results. Tracks effectiveness of strategic execution and makes recommendations on adjustments when necessary.
- Guidance on delivering strategic priorities, and leadership of specific projects to support the strategy. Also includes supporting product and pricing strategies, performing market research, ensuring product compliance, assessing performance relative to pricing. Finally, implements measurement systems and metrics to monitor effectiveness of strategy execution.
Typical Skills and Experiences:
Education: BA in Accounting/Finance preferred; MBA/CPA desired but not required.
Experience: 15+ years of knowledge of property and casualty business operations and financial systems.
Skills: Leadership, influence, problem-solving, agility, collaboration, decision-making, strategic thinking, strong financial acumen, presentation and communications skills.
Job Conditions:
Overtime Eligibility: Not Eligible (Exempt)
Working Conditions: Normal office environment. Some travel may be required.
ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties.