Director of Capital and Risk Management Strategy- Insurance - Porch
Seattle, WA
About the Job
Porch Group is a leading vertical software and insurance platform and is positioned to be the best partner to help homebuyers move, maintain, and fully protect their homes. We offer differentiated products and services, with homeowners insurance at the center of this relationship. We differentiate and look to win in the massive and growing homeowners insurance opportunity by 1) providing the best services for homebuyers, 2) led by advantaged underwriting in insurance, 3) to protect the whole home.
As a leader in the home services software-as-a-service ("SaaS") space, we've built deep relationships with approximately 30 thousand companies that are key to the home-buying transaction, such as home inspectors, mortgage companies, and title companies.
In 2020, Porch Group rang the Nasdaq bell and began trading under the ticker symbol PRCH. We are looking to build a truly great company and are JUST GETTING STARTED.
Job Title:Director of Capital and Risk Management Strategy- Insurance
Location: United States
Workplace Type: Remote
Job Summary
The future is bright for the Porch Group, and we'd love for you to be a part of it as our Director of Capital and Risk Management Strategy- Insurance. Under the direction of the Porch Group Chief Financial Officer and Porch Group SVP of Finance the Director of Capital and Risk Management Strategy will be responsible creating and executing HOA's capital and risk management strategy. The Director of Capital and Risk Management Strategy is responsible for developing and implementing strategies to optimize capital and manage risk across the insurance organization. This role involves analyzing financial and operational risks, advising on capital structure, and ensuring that risk management practices align with the company's strategic goals.
What You Will Do As A Director of Capital and Risk Management Strategy- Insurance
Capital Strategy
- Monitor and analyze the organization's capital structure and provide recommendations to improve efficiency and financial
stability - Evaluate and advise on capital requirements and funding strategies in alignment with business objectives.
- Includes understanding the impact of various reinsurance and other capital strategies to maximize growth
- Analyze capital opportunities by creating HOA capital and risk evaluation model
- Perform analysis to increase capital efficiency at HOA. Provide insights and recommendations on risk-adjusted returns
- Update reinsurance components of monthly forecast
- Participate in meetings with external reinsurance partners
- Work with the other parts of the Insurance Finance team to coordinate annually budgeting process and quarterly forecast
- Support Balance Sheet forecasting with support of rest of the Insurance Finance team
- Understand unit economics and integration of Porch insurance into the Porch platform
Risk and Compliance Management
- Ensuring compliance with rating agencies and regulatory, including surplus, risk retention levels, net combined ratio, and RBC
- Identify, assess, and prioritize risks that could impact the organization's operations and financial performance.
- Enhance risk management frameworks, policies, and procedures to mitigate identified risks
- Conduct regular risk assessments and stress tests to ensure resilience against potential adverse scenarios.
- Ensure compliance with relevant financial regulations, industry standards, and internal policies.
- Stay informed about changes in regulatory requirements and market conditions that could affect capital and risk management
What You Will Bring As A Director of Capital and Risk Management Strategy- Insurance
Knowledge, Skills and Behaviors
- Strong analytical and problem-solving skills with the ability to interpret complex financial data
- Excellent communication and presentation skills, with the ability to convey technical information to non-technical stakeholders.
- Proficiency in financial modeling and risk assessment tools
- Able to effectively and diplomatically interface with all levels of management and personnel.
- Strong excel and modeling skills
- Ability to deal effectively with individuals at all levels and attain desired results.
- Must have the ability to collaborate with cross-functional team to achieve business results.
- Works well under stress and tight deadlines
- Effective communication, presentation, negotiation and persuasion skills.
- Balances listening and talking, speaking and writing clearly and accurately, influencing others and keeping others informed.
- Team oriented, building strong working relationships and a positive work environment.
- Is receptive to feedback and willing to learn, embracing continuous improvement.
Experience Required
- At least 10 years of experience with insurance capital management strategies and analysis
- 15+ years' experience in Finance
- Expert in capital modeling
- Expert level understanding of complex reinsurance arrangements, and impact on surplus, RBC and risk management
- Investment banking or capital markets experience preferred
- Ability to work in a fast-paced environment
- Significant interaction with SVP Finance, CFO, CEO expected in evaluating various capital/reinsurance opportunities
- Experience in developing and executing capital and risk management strategies
- P&C insurance experience preferred
The application window for this position is anticipated to close in 2 weeks (10 business days) from 8/27/2024. Please know this may change based on business and interviewing needs.
At this time, Porch Group does not consider applicants from the following states for remote positions: Alaska, Arkansas, Delaware, Hawaii, Iowa, Maine, Mississippi, Montana, New Hampshire, and West Virginia.
What You Will Get As A Porch Group Team Member
Pay Range*: $157,500.00 - $220,500.00 annually
*Please know your actual pay at Porch will reflect a number of factors among which are your work experience and skillsets,job-related knowledge, alignment with market and our Porch employees, as well as your geographic location.
Additionally, you will be eligible to receive long-term incentive awards, subject to program guidelines and approvals.
You will also be eligible to receive an annual bonus based on individual and company performance, subject to program guidelines and approvals.
Our benefits package will provide you with comprehensive coverage for your health, life, and financial wellbeing.
- Our traditional healthcare benefits include three (3) Medical plan options, two (2) Dental plan options, and a Vision plan from which to choose.
- Critical Illness, Hospital Indemnity and Accident plans are offered on a voluntary basis.
- We offer pre-tax savings options including a partially employer funded Health Savings Account and employee Flexible Savings Accounts including healthcare, dependent care, and transportation savings options.
- We provide company paid Basic Life and AD&D, Short and Long-Term Disability benefits. We also offer Voluntary Life and AD&D plans.
- Both traditional and Roth 401(k) plans are available with a discretionary employer match.
- Headspace is part of our employer paid wellbeing program and provides employees and their families access to on demand guided meditation and mindfulness exercises, mental health coaching, clinical care and online access to confidential resources including will preparation.
- Brio Health is another employer paid wellbeing tool that offers quarterly wellness challenges and prizes.
- LifeBalance is a free resource to employees and their families for year-round discounts on things like gym memberships, travel, appliances, movies, pet insurance and more.
- Our wellness programs include flexible paid vacation, company-paid holidays of typically nine per year, paid sick time, paid parental leave, identity theft program, travel assistance, and fitness and other discounts programs.
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What's next?
Submit your application and our Porch Group Talent Acquisition team will be reviewing your application shortly! If your resume gets us intrigued, we will look to connect with you for a chat to learn more about your background, and then possibly invite you to have virtual interviews. What's important to call out is that we want to make sure not only that you're the right person for us, but also that we're the right next step for you, so come prepared with all the questions you have!
Porch is committed to building an inclusive culture of belonging that not only embraces the diversity of our people but also reflects the diversity of the communities in which we work and the customers we serve. We know that the happiest and highest performing teams include people with diverse perspectives that encourage new ways of solving problems, so we strive to attract and develop talent from all backgrounds and create workplaces where everyone feels seen, heard and empowered to bring their full, authentic selves to work.
Porch is an Equal Opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex including sexual orientation and gender identity, national origin, disability, protected veteran status, or any other characteristic protected by applicable laws, regulations, and ordinances.
Porch Group is an E-Verify employer. E-Verify is a web-based system that allows an employer to determine an employee's eligibility to work in the US using information reported on an employee's Form I-9. The E-Verify system confirms eligibility with both the Social Security Administration (SSA) and Department of Homeland Security (DHS). For more information, please go to the USCIS E-Verify website.