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Description

Job Summary

This position serves as Chief Financial Officer of the Company which includes directing the financial responsibilities of the Company such as the development and execution of overall financial policies, as well as providing oversight to several divisions involved in daily financial activities including, investments, general accounting, financial reporting, actuarial services, agent contracting and commissions and enterprise project management. This individual also has the primary responsibility for management of the treasury, banking and insurance activities of the Company, serving in the role of Corporate Treasurer. A member of the Executive Team, this individual provides long-range goals, strategies, plans and policies that align with the opportunity for organic business growth in conjunction with the general economic outlook by identifying the amount and sources of funds required to meet outstanding and planned commitments. This individual reports directly to the President.

Primary Responsibilities:

Investments –

· Chair the Investment Committee including the implementation and execution of corporate investment policies and the proper planning and documentation of all committee meetings

· Maintain regular contact with the primary external portfolio managers to monitor activity, investment analysis and reports, discuss strategic asset allocation philosophy and details as necessary, and create/sustain positive working relationship and to ensure external managers are aligned with corporate objectives

· Conduct ongoing reviews and analysis of internally-managed assets, in conjunction with all investment opportunities and recommend appropriate actions to the Investment Committee as changes are warranted

· Periodically evaluate primary investment managers’ performance and fees

Financial reporting & compliance –

· Lead the financial reporting function, including regulatory filings (Annual Statement, RBC, Management’s Discussion & Analysis, audited financial statements, and related filings), and coordination of external audits of the Company and subsidiaries

· Provide information to A.M Best and other rating agencies as required

· Keep abreast of and ensure adherence to internal, federal and state regulatory policies and procedures related to accounting, finance and investments; respond to NAIC and state regulatory inquiries

Budget, planning, & financial analysis –

· Lead the budgeting and planning activities of the Company

· Manage expenses and report against Plan

· Provide cost/benefit analysis, lease/buy analysis and other analysis as needed

Risk management & internal controls –

· Lead the Enterprise Risk Management Committee which includes assessment and mitigation of major risks facing the Company

· Champion internal controls throughout the Company and especially in banking and financial functions

Actuarial services –

· Provide oversight and strategic guidance to the Actuarial department to ensure necessary coordination for required financial reporting and to ensure pricing and product development efforts align with risk tolerance and long-term growth goals

· Assist with soliciting relevant input from Chief Actuary for strategic planning and risk management matters

Treasury functions –

· Manage bank/financial institutions relationships to ensure reliable and cost efficient relationships

· Monitor cash flows to meet financial plans and ensure minimum cash reserve level is maintained; communicate with external asset managers as cash needs change

· Periodically evaluate bank/financial institution performance and fees

Taxes –

· Supervise the filing of income taxes, premium taxes, and other taxes and timely tax deposits

· Supervise the filing of tax information reporting (1099s, 5498s, etc.) documents

Agent commissions & contracting –

· Supervise the contracting of agents and processing of new business applications

· Ensure payment of agent commissions, including the calculation and payment of approved agent bonuses

· Supervise monitoring and collection of agent debit balances

Enterprise project management –

· Provide oversight and strategic guidance to the Company’s Enterprise Project Management Office to ensure all activities align with executing upon the short- and long-term goals of the organization

· Coordinate engagement of EPMO for approved interdepartmental projects

Other duties –

· Active participation in Executive Team and other committee meetings

· Supervise, monitor and evaluate the performance of financial division staff; recommend and implement personnel actions such as realignments, promotions and dismissals

Requirements

Qualifications:

· Bachelor’s degree in finance or accounting; MBA a plus

· Certified Public Accountant (CPA) or Certified Management Accountant (CMA) certification strongly preferred

· 8-10 years of management level work experience in financial reporting and/or investments within the insurance industry required

· Technical and fundamental understanding of statutory accounting principles; GAAP knowledge a plus

· Highest standards of integrity, loyalty, honesty, moral and ethical values

· High degree of accuracy and attention to detail

· Internal control orientation

· Superior written and verbal communication skills

· Strong knowledge of investments and investment accounting

· Strategic thinker with the ability to plan, organize and manage for organic growth and change

· Strong decision-making skills; ability to exercise independent judgment

· Ability to present complex information in a way that enables business leaders to make informed decisions

· Ability to establish credibility throughout the organization as an effective problem solver and trusted advisor; proven ability to develop and propose solutions to complex business challenges

· Ability to perform well under pressure of multiple deadlines and environments

· Operationally oriented, with the ability to appreciate and identify with operating executives and the issues and opportunities of the business

· Knowledge of risk management practices, including identification, mitigation and monitoring

· Able to travel

· Strong Microsoft Office skills

· Must be currently located in or willing to relocate to Peoria, Illinois area