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Benecard Services, LLC · 15 hours ago

Vice President and Risk Officer

Clifton, NJ

Full-time

Onsite

Director/Executive

7+ years exp

Benecard Services, LLC is seeking a Vice President and Risk Officer to manage key relationships with regulators and rating agencies while overseeing the company's Enterprise Risk Management responsibilities. The role involves financial planning, risk assessment, and exploring new market opportunities within the insurance sector.

Health CareMedical

Responsibilities

Partner with Finance department to ensure thorough analytic discipline for the development of Heartland’s annual P&L and Balance Sheet budgets and forecasts, as well as analysis of actual results throughout the year compared to the forecast for submission to our regulator and rating agency

Work collaboratively with the Finance, Underwriting and Business Analytics departments to conduct the necessary analysis of product line performance, as well as develop and implement recommendations to achieve targeted results

Prepare presentations on actual and projected financial trends for management and the Board of Directors, and for our regulator and rating agency as required

Prepare Risk-Based Capital (RBC) calculation annually or as necessary to confirm Heartland’s risk-based capital remains strong. Support capital planning, solvency assessments, and stress-testing to ensure financial resilience

Oversee company-wide ERM governance framework across Heartland and its Affiliates / Program Managers, including leadership of Heartland’s ERM Committee, with effective monitoring and reporting of risk exposures to the COO, Board Compliance Committee and Board of Directors

Identify, measure, monitor, and mitigate enterprise risks including underwriting, credit, operational, legal/regulatory, strategic, market and reputational risks

Evaluate emerging risks in the group employee benefits sector, as well as the insurance industry at large

Ensure alignment of risk appetite with the company’s strategic objectives and capital management framework

Prepare, communicate and document all required materials both internally for governance and management, as well as externally as required by our regulator and rating agency

Responsible for managing the relationship with our insurance regulator and captive manager, including preparing documents submitted to the regulator, as well as maintaining Heartland’s relationships to ensure responsiveness and compliance with all regulations

Research, analyze, and prepare for Heartland senior management / ownership potential insurance business expansion strategies to be evaluated to expand our footprint of existing products and services, as well as explore and implement new products and services to diversify our portfolio of services in the insurance marketplace

Handle all aspects and communication pertaining to Heartland’s relationship with AM Best, including but not limited to our annual credit rating process, drafting the annual business narrative, supporting the preparation of the financial forecast, preparing PowerPoint presentation, and reviewing AM Best materials for publication, i.e., the annual Credit Report

Update financial projection as required in coordination with Finance and Underwriting

Respond to all follow-up information requests from AM Best

Participate and coordinate Heartland’s Annual Shareholder and Board of Directors meeting process, as well as Benecard Association’s Annual Shareholder and Membership Association meetings

Other duties as assigned by management for Heartland or the Benecard family of companies

Qualification

Enterprise Risk ManagementInsurance industry knowledgeFinancial PlanningAnalysisCaptive insurance experienceAnalytical skillsEthical characterMicrosoft Office proficiencyBusiness development experienceCommunication skillsTeam collaboration

Required

Bachelor's degree is required, preferably in finance, actuarial science, economics, business, or a related field

Minimum of 7-10 years of increasing work experience in the insurance or healthcare industries, preferably with group health benefits experience

Demonstrated excellent oral and written communication skills, with the ability to present information clearly, prepare well-structured reports, and communicate persuasively and effectively across all levels internally as well as to external stakeholders

Strong analytical and quantitative skills to communicate finance and underwriting results with the ability to work as part of cross functional teams

Proficient with all components of Microsoft Office

Strong understanding of the insurance / reinsurance industry, as well as the operating model for captive insurance companies, including the ability to identify business development opportunities

Fundamental knowledge of the group health benefits insurance marketplace, with specific focus around association captive insurance companies and how they operate and identify opportunities to expand products and services

Pharmacy, Vision and/or other group health benefits experience and healthcare industry knowledge, including market trends and competitive landscape, with an ability to assess and consider these factors when developing strategies

Strong communication and written skills, as well as the ability to understand the financial levers in managing Heartland's products and services

Good financial acumen, with an understanding of marketplace economics and awareness of margin contributions

Ability to work in a team environment with multiple internal departments (Finance, Marketing, Underwriting, Compliance) to execute on Heartland's strategies

Reputation of ethical and professional character