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Markel · 1 week ago

Associate Director, Specialty Programs Risk & Controls

Bedford, TX

Full-time

Hybrid

Mid, Senior Level, Lead/Staff

5+ years exp

Markel Group is a Fortune 500 company that specializes in insurance, reinsurance, and investment operations worldwide. The Associate Director, Specialty Programs oversees risk mitigation activities for specialty programs, ensuring financial and credit risks are monitored and mitigated while collaborating with various functional areas to implement effective controls and documentation.

Insurance

No H1B

Responsibilities

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

Determine the financial and credit risks, and implement risk mitigation strategies

Act 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

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

Monitor the results from the risk mitigation strategies and communicate the results to the EVP and executive management

Participate 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

Liaise 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

Assist with due diligence for potential new deals

Monitor potential risks from a cash/credit/financials perspective

Analyze and approve the premium trust account cash extraction requests

Analyze and review the general agency’s monthly financial statements and reconciliations, and provide the clients with process improvement suggestions

Identify and escalate emerging risks to SNC management

Prepare financial statement forecasts and analyze the variances from budget and actual

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

Analyze and monitor contingent commission estimates and ultimate loss ratios

Review the cash controls and bank account activity

Liaise 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

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

To the extent there is a significant negative change to the status of a SP, work with functional areas to develop remediation plan

Monitor progress on any remediation plans in effect and communicate to SNC management

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

Qualification

Financial analysisFinancial statement auditingRisk mitigation strategiesMicrosoft ExcelCPA 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

US Work Authorization required. Markel does not provide visa sponsorship for this position, now or in the future