Senior Vice President, Chief Financial Officer

1 month ago


Berkeley Heights, United States Westfield Insurance Full time

The Chief Financial Officer Specialty US will oversee the financial operations of the Specialty US division, ensuring the financial health and stability of the business. This role involves all aspects of business unit financial planning and analysis and financial operational management, including budgeting, forecasting, financial modeling, and strategic financial planning. The Chief Financial Officer Specialty US will work closely with senior management to drive financial performance and support the division’s growth objectives. This role monitors the financial performance drivers of the business with the objectives of delivering a value-added level of service to business leadership, supporting the execution of a multi-year strategic plan, driving continuous process and operating improvement, and enhancing the financial reporting and analysis process. This role will serve as a key strategic business partner to the President of Westfield Specialty and work closely with Enterprise Finance personnel, including the Chief Financial Officer and Controller, as well as independent auditors, regulatory bodies, and rating agencies, as warranted.


Minimum Requirements:
  • Master’s degree in finance or business administration preferred and/or commensurate work experience.
  • 12+ years of experience in the property & casualty business, including insurance accounting and/or finance.
  • 5+ years of people leadership.
  • Prior experience as a Finance leader in the specialty insurance or, more broadly, property & casualty insurance industry is preferred.
  • Solid understanding of reinsurance structures, capital management structures, and a familiarity with different capital adequacy frameworks (RBC, Solvency II, BSCR) would be helpful.
  • Experience in board governance, including attending and participating in board meetings, overseeing board material preparation, and communicating with board members, is preferred.

Licenses and Certifications:

  • Certified Public Accountant (CPA) (preferred)
  • Chartered Financial Analyst Charter Holder (CFA) (preferred)
  • Certified Management Accountant (CMA) (Preferred)

Technical Skills:

  • Financial Strategy
  • Financial Planning
  • Knowledge of insurance accounting (GAAP and statutory) and the ratings and regulatory environment(s)
  • International Financial Reporting Standards
  • Budgeting & Forecasting
  • Mergers & Acquisitions
  • Finance Technology Architecture

Work Requirements:

  • Ability to work effectively in an office, hybrid, or remote work environment for 40+ hours per week (including sitting, standing, and working on a computer for extended periods).
  • Ability to communicate effectively in a collaborative work environment utilizing various technologies such as: telephone, computer, web, voice, teleconferencing, e-mail, etc.
  • Ability to publicly speak.
  • Ability to travel as required.

This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management.

We are an equal opportunity employer/minority/female/disability/protected veteran.

#wsp

#LI-DNI


Key Responsibilities:
  • Acts as a key strategic leader and member of senior management with a dual reporting line to the Specialty President and Enterprise CFO.
  • Direct, develop, organize, and lead the growing finance function of the US Specialty operations.
  • Support business development opportunities alongside the Business Development Lead and Specialty President.
  • Partner alongside senior leadership, underwriting, Ceded Re, actuarial, and claims in providing strategic financial input on decision-making issues affecting the Specialty US operations.
  • Lead the annual budgeting process and periodic forecasting. Monitor financial performance against budgets and forecasts, identifying variances and recommending corrective actions.
  • Design and coordinate monthly and quarterly reporting materials that inform senior management of the performance of the businesses in quantitative and qualitative detail.
  • Monitor and control costs to ensure efficient use of resources. Identify opportunities for cost/expense savings and operational efficiencies.
  • Work closely with Information Technology and others to evaluate operating efficiency and effectiveness on an ongoing basis to promote continuous improvement.
  • Provide technical accounting and financial advice and knowledge.
  • Identify and monitor key risks to the business and performance.
  • Ensure compliance with regulatory requirements and internal policies.
  • Oversee annual departmental budget and completion of monthly budget variance reporting and forecasts and is accountable for department expenditures.
  • Own accountability for talent management and navigation of employee-related issues that impact morale and work environment to ensure a high-performing team including hiring and selection, succession planning, performance and compensation management, and employee development and career coaching as required. Manages priorities and workload distribution and removes barriers that impede progress.
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