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- Philadelphia, PA
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Chief Financial Officer
PMA Companies • Philadelphia, PA
Posted 28 days ago
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The Chief Financial Officer will report to the CEO and plays a strategic role in the overall management of the company. The CFO will have primary day-to-day responsibility for planning, implementing, managing and controlling all financial-related activities of the company. This will include direct responsibility for accounting, finance, budgeting, cost benefit analysis, setting reserves, credit & collections, forecasting, strategic planning, and financial compliance.
The CFO will provide advice and counsel to the President/Chief Executive Officer and other senior management and provide leadership and support in all other corporate and financial related activities.
- Provides leadership in the development for the continuous evaluation of short and long-term strategic financial objectives.
- Ensure credibility of Finance group by providing timely and accurate analysis of budgets, financial trends and forecasts.
- Take hands-on leadership position in developing, implementing, and maintaining a comprehensive expense management program.
- Direct and oversee all aspects of the Finance & Accounting functions of the organization.
- Evaluates and advises on the impact of long range planning, introduction of new programs/ strategies and regulatory action.
- Establish and maintain strong relationships with executives so as to identify their needs and seek full range of business solutions.
- Provide executive management with advice on the financial implications of business activities.
- Manage processes for financial forecasting, budgets and consolidation and reporting to the Company
- Provide recommendations to strategically enhance financial performance and business opportunities.
- Ensure that effective internal controls are in place and ensure compliance with statutory and GAAP reporting and applicable federal, state and local regulatory laws and rules for financial and tax purposes.
- Manage all aspects of Financial Statement reporting, including: Successful Annual Audits, Monthly & Quarterly Reporting, Detailed Operational Analysis by Company, Department, Line item, etc
- Demonstrate commitment to Company's Code of Business Conduct and Ethics, and apply knowledge of compliance policies and procedures, standards and laws applicable to job responsibilities in the performance of work.
- BS in Accounting or Finance; MBA preferred. CPA required
- 10+ years in progressively responsible financial leadership roles, preferably in the property & casualty insurance -- commercial lines or related industry.
- Familiarity with workers' compensation loss-sensitive business, and associated credit and collateral considerations
- Familiarity with Federal taxation of property and casualty insurance companies
- Familiarity with ceded reinsurance accounting
- Experience leading collaborative budgeting and financial planning process, working closely with operating management and senior management colleagues
- Demonstrates initiative in developing management information that aligns with, and effectively communicates performance against, strategic financial goals
- Experience in setting and supporting loss and LAE IBNR on a recurring basis -- solid understanding of basic actuarial concepts
- Familiarity with client-owned captive insurance structures
- Ability to effectively communicate financial information to non-financial senior management -- enjoys teaching aspect of CFO role
- Demonstrates ability to identify and evaluate drivers of financial performance -- equally focused on "what" and "why" -- able to suggest practical corrective actions, as appropriate
- Familiarity with principles of ERM, and their application in the commercial property and casualty insurance environment
- Familiarity with third-party claims administration, preferably as both consumer and provider
- Unquestioned discretion and integrity, focused on what's in the best interests of PMA and ORI -- respectful of capital