Vice President, Business Financial Officer Standard Lines - Ohio Farmers Insurance Company
Seville, OH
About the Job
Hybrid - defined as three days in office if residence is within 50 miles of Westfield Center, OH or Remote - if residence is over 50 miles from Westfield Center, OH
The VP, Business Financial Officer will oversee the financial operations and actuarial pricing of a group of business lines (i.e. Standard or Specialty Lines), ensuring the financial health and stability of the business. This role involves all aspects of financial planning and analysis and financial operational management, including pricing, budgeting, forecasting, financial modeling, and strategic financial planning.
The VP, Business Financial Officer will work closely with senior management to drive financial performance and support growth and profitability 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, 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 the businesses and work closely with Group Finance personnel, including the Chief Financial Officer, Chief Actuary, and Group Controller, as well as independent auditors, regulatory bodies, and rating agencies, as warranted.
Act as a key strategic leader and member of senior management with a dual reporting line to the President of the business lines and Group CFO.
Lead the annual budgeting process and periodic forecasting. Monitor financial performance against budgets and forecasts, identifying variances and recommending corrective actions.
Monitor and control costs to ensure efficient use of resources. Identify opportunities for cost / expense savings and operational efficiencies.
Lead and manage a team of pricing actuaries, ensuring accurate and timely development of pricing models, analysis of risk factors, and implementation of pricing strategies to support business objectives and maintain regulatory compliance.
Design and coordinate monthly and quarterly reporting materials that inform senior management of the performance of the businesses in quantitative and qualitative detail.
Support business development opportunities alongside the business lines President and other leaders.
Identify and monitor key risks to the Businesses and Segments.
Partner alongside senior leadership, underwriting, Ceded Re, actuarial, and claims in providing strategic financial input on decision making issues affecting the Company's Business operations.
Provide technical accounting and financial advice and knowledge.
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.
Master's degree in finance or business administration preferred and/or commensurate work experience.
12+ years of experience in Insurance Accounting, Finance, and/or Tax-related work. 5+ years of people leadership.
Prior experience as a Finance leader in the property & casualty insurance industry is preferred.
Experience in board governance, including attending and participating in board meetings, overseeing board material preparation, and communicating with board members, is preferred.
Solid understa
The VP, Business Financial Officer will oversee the financial operations and actuarial pricing of a group of business lines (i.e. Standard or Specialty Lines), ensuring the financial health and stability of the business. This role involves all aspects of financial planning and analysis and financial operational management, including pricing, budgeting, forecasting, financial modeling, and strategic financial planning.
The VP, Business Financial Officer will work closely with senior management to drive financial performance and support growth and profitability 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, 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 the businesses and work closely with Group Finance personnel, including the Chief Financial Officer, Chief Actuary, and Group Controller, as well as independent auditors, regulatory bodies, and rating agencies, as warranted.
Act as a key strategic leader and member of senior management with a dual reporting line to the President of the business lines and Group CFO.
Lead the annual budgeting process and periodic forecasting. Monitor financial performance against budgets and forecasts, identifying variances and recommending corrective actions.
Monitor and control costs to ensure efficient use of resources. Identify opportunities for cost / expense savings and operational efficiencies.
Lead and manage a team of pricing actuaries, ensuring accurate and timely development of pricing models, analysis of risk factors, and implementation of pricing strategies to support business objectives and maintain regulatory compliance.
Design and coordinate monthly and quarterly reporting materials that inform senior management of the performance of the businesses in quantitative and qualitative detail.
Support business development opportunities alongside the business lines President and other leaders.
Identify and monitor key risks to the Businesses and Segments.
Partner alongside senior leadership, underwriting, Ceded Re, actuarial, and claims in providing strategic financial input on decision making issues affecting the Company's Business operations.
Provide technical accounting and financial advice and knowledge.
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.
Master's degree in finance or business administration preferred and/or commensurate work experience.
12+ years of experience in Insurance Accounting, Finance, and/or Tax-related work. 5+ years of people leadership.
Prior experience as a Finance leader in the property & casualty insurance industry is preferred.
Experience in board governance, including attending and participating in board meetings, overseeing board material preparation, and communicating with board members, is preferred.
Solid understa
Source : Ohio Farmers Insurance Company
