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Markel · 1 month ago

Associate Director of Specialty Programs - State National

Richmond, VA

Full-time

Hybrid

Mid, Senior Level, Lead/Staff

5+ years exp

Markel Group is a Fortune 500 company that operates globally in insurance, reinsurance, and investment operations. The Associate Director of Specialty Programs is responsible for overseeing risk mitigation activities for specialty programs, ensuring financial and credit risks are monitored and mitigated, and consulting on the implementation of risk processes.

Insurance

No H1B

Responsibilities

Oversees the risk mitigation activities for those programs with design structures that deviate from State National’s standard model

Determines the financial and credit risks, and implements risk mitigation strategies

Acts as a consultant to the SP programs to aid in the implementation of risk mitigation processes including: implementing effective reconciliations over all areas impacting the premium trust, documenting controls in place and suggesting the implementation of new controls

Helps these programs implement documentation of the control structure to include: flowcharts, risk control matrices and narratives

Monitors the results from the risk mitigation strategies and communicates the results to the EVP and executive management

Participates in developing risk mitigation plans for new alternative risk programs including: risk identification, contractual terms and covenants, risk mitigation strategies, oversight procedures and communication and reporting framework

Liaises with the various functional areas to determine that each area is aware of any unique attributes of the new program and that any regulatory, accounting, reporting and risk issues are addressed prior to signing

Assists with due diligence for potential new deals

Monitors potential risks from a cash/credit/financials perspective

Analyzes and approves the premium trust account cash extraction requests

Analyzes and reviews the general agency’s monthly financial statements and reconciliations, and provides the clients with process improvement suggestions. Identifies and escalates emerging risks to SNC management

Prepares financial statement forecasts and analyzes the variances from budget and actual

Works with accounting/finance teams to resolve any issues and provide the appropriate level of client service

Analyzes and monitors contingent commission estimates and ultimate loss ratios

Reviews the cash controls and bank account activity

Liaises with the various functional areas within SNC (PAR, Actuarial, Reinsurance, Legal and Client Services) to ascertain that the identified risk control processes are in place and functioning effectively

Assists with preparation of the quarterly reports regarding the risk status of all SP

Works with functional areas to develop remediation plans if there is a significant negative change to the status of a SP

Monitors progress on any remediation plans in effect and communicates to SNC management

Assumes projects/special duties as assigned by Director – Specialty Programs

Qualification

Financial analysisFinancial statement auditingRisk mitigation strategiesMicrosoft ExcelAccounting degreeCPA designationAnalytical skillsRelationship skillsCommunication skillsOrganizational skillsDecision-making skills

Required

5+ years of senior-level experience in financial analysis

5+ years of senior-level experience in financial statement/control auditing or credit analysis

Bachelor's degree in Accounting or Finance

Intermediate or higher level of knowledge of Microsoft Office products or equivalent programs, particularly Excel

Ability to work independently or in a team environment

Sound judgment and decision-making skills

Strong analytical skills

Experience working with difficult individuals in stressful situations

Strong relationship skills

Excellent organizational skills

Must have excellent oral and written communication skills

Must be a person of high integrity. No other duties or relationships should interfere with this individual's decision making

Able to obtain agreement from multiple parties, earn trust while working through issues, use good timing and strategies when communicating findings, and identify hidden agendas that might interfere with appropriate resolution

Able to use a win-win approach to resolve controversy, stay objective and fair in sensitive situations, and maintain constructive working relationships despite disagreement

Preferred

CPA designation preferred

Benefits

We offer competitive benefit programs that help meet our diverse and changing environment as well as support our employees’ needs at all stages of life.

All full-time employees have the option to select from multiple health, dental and vision insurance plan options and optional life, disability, and AD&D insurance.

We also offer a 401(k) with employer match contributions, an Employee Stock Purchase Plan, PTO, corporate holidays and floating holidays, parental leave.

Markel offers hybrid working schedules of 3 days in the office and 2 days remote.