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Legal & General · 2 days ago

Director, Cost Control & Strategic Initiatives

Frederick, MD

Full-time

Hybrid

Lead/Staff, Director/Executive

$157K/yr - $228K/yr

12+ years exp

Legal & General America is a forward-thinking company committed to transforming purpose into progress. The Director, Cost Control & Strategic Initiatives will lead the expense management function, develop annual budgets, and implement cost-saving initiatives while fostering a strong team and collaborative culture.

Financial Services

Responsibilities

Support pricing for both US retirement and Life businesses

Provide analytical and execution support

Lead on costing new initiatives and working closely with CFO of PRT incorporating them into Plan

Other projects as needed

Lead the development and implementation of the annual expense budget for the company (apprx $250m)– creating a holistic expense management philosophy, system and process and embed throughout LGA. This will be done by collaborating across Finance, IT and all business functions and aligning local needs with local/global ambitions

Leverage data analytics to provide insights into spending patterns and identify opportunities for budget optimization

Implement cost-saving initiatives to improve expense management efficiency through definition of new operating model

Investigate offshore opportunities (in conjunction with Group)

Investigate opportunities to vary headcount expense by geography for US-based roles

Creation of Group Functions, local direct functions –reducing redundancies

Thought Leadership / Collaboration on Finance Reimagination program (Anaplan replacement, SAP Concur, Aptitude + planning tools, project vault)

Collaborate with IT to develop solutions around expense data management, reporting and analysis, including budget vs. forecast, attribution of variances etc

Report on KPIs as needed by the business

Develop a process to attribute expenses for IFRS reporting purposes and assumption setting purposes (Cash flow testing, pricing etc)

Lead the budget process across LGA, by partnering with the business, collecting data and building out plan as well as sensitivities

Provide input and challenge to strategic project plans; ensure that budgeted expenses are appropriate and represent best estimate view

Monitor and analyze actual expenses against the budget, identifying variances and recommending corrective actions

Invoice management, management of SLAs & intercompany settlements

Management of monthly Group Management Information submissions

Build a strong team able to deliver and execute independently and to build partnerships throughout the organization at the appropriate levels, to be able to influence decisions and maintain oversight and controls over expense levels

Foster a culture of accountability and alignment with L&G behaviors within the finance department

Focus on business partnering and delivering insight, support and challenge to the business. Involvement in strategic roadmap delivery for LGRA and corresponding strategic work for LGIA

Communicate complex financial information in a clear and concise manner

Develop succession plan to be executed over 18-24 months post completion of new operating model and effective BAU expense management environment

Make LGA a great place to work – retaining talent and fostering a positive & inclusive culture

Lead, develop and support a team of [3-4] financial analysts/managers. Further assessment of resource needs will determine if any further FTEs are needed

Qualification

Financial reportingExpense managementFinancial governanceAnalytical skillsUS STAT accountingSII accountingIFRS accountingFinancial modelingBudgeting softwareInsurance industry experienceLeadership skillsInterpersonal skillsCommunication skillsProblem-solving skills

Required

Minimum 12 years of experience in a senior finance role, with a strong track record in financial reporting, financial governance and expense management

Proven experience in developing and implementing internal controls over financial reporting

In-depth knowledge of US STAT, SII and IFRS accounting principles

Strong analytical and problem-solving skills

Excellent communication, interpersonal, and leadership skills

Proficiency in financial modeling and budgeting software

Experience in the insurance industry