Job Summary
- Location
- Philadelphia, PA
- Industries
- Insurance
- Job Type
- Full Time
- Employee
- Career Level
- Manager (Manager/Supervisor of Staff)
- Job Reference Code
- 296517
Avp, Finance
About the Job
ACE Group
The ACE Group of Companies is one of the worlds leading global commercial
property and casualty insurance and reinsurance organizations, with 16,000
employees worldwide and offices in more than 50 countries.
ACE serves the property and casualty insurance needs of businesses of all
sizes in a broad range of industries. We also provide specialized insurance
products—such as personal accident, supplemental health and life insurance—to
individuals in select countries. Our reinsurance operations include both
property and casualty and life companies.
Details of this critical opening follow:
AVP, Credit Management – SG30
SCOPE:
The Credit Management function at ACE is a key contributor to the distribution of ACE products and services. Partnering with our business unit executives and underwriters, ACM supports the sales effort while maintaining oversight of the credit worthiness and collateral requirements of all our key constituents – brokers, financial institutions and customers. The AVP, Credit Management, reporting directly to the SVP, Credit Management will be responsible, directly and through management of others, for credit management functions related to several ACE business units by:
• Managing collateral requirements and adjustments for large risk products through their life cycle.
• Evaluating insured and captive insurance company financial condition and managing credit exposure associated with deductible, retrospectively rated and captive programs.
• Managing trust exposure.
• Evaluating credit worthiness of Producers on and exception basis.
DUTIES & RESPONSIBILITES:
• Own and be accountable to management for the propriety of funded deductible adjustment process and ultimate collection including prioritization response/negotiations with underwriters, brokers and clients. Identify improvement opportunities.
• Own and be accountable for credit assessment and collateralization of deductible, retro and captive programs through in depth analysis of financial statements, direct contact with client company financial representatives, and an understanding of the insurance products and structures driving the credit risk.
• Own and be accountable for oversight of credit trust collateral form market values, qualifying securities, concentration limits, exception reports and resolution.
• Own cash collateral portfolio including supporting ledger detail related to ACE’s surety line of business.
• Coordinate with field and headquarters underwriting staff, actuarial, billing and collections, brokers, clients, banks (Trustees) and other parties to execute responsibilities.
REQUIRED QUALIFICATIONS:
• BS/BA in Accounting of Finance. MBA or CPA preferred.
• 8-10 years business experience in financial or accounting functions at the manager or director level
• Experience with banking and financial institution credit evaluation
• Knowledge of Insurance Industry including Large Risk Cash Flow programs and Statutory Insurance is desired.
• Strong interpersonal, negotiating and communication skills at senior levels both internally and externally.
• Team player with strong customer service orientation
• Strong time management and organization skills
• Strong verbal and written communication skills
ACE offers a competitive salary plus cash bonus, equity opportunities and a
comprehensive benefits package including life, health, dental, vision, a
generous retirement savings plan with a generous company match, disability
coverage, stock purchase plan, flexible spending accounts, tuition
reimbursement, and business casual dress.
Sound like the right job for you? For consideration, please apply below.
If you would like additional information about the ACE Group, please visit our
website at http://www.acelimited.com
The ACE Group of Companies is one of the worlds leading global commercial
property and casualty insurance and reinsurance organizations, with 16,000
employees worldwide and offices in more than 50 countries.
ACE serves the property and casualty insurance needs of businesses of all
sizes in a broad range of industries. We also provide specialized insurance
products—such as personal accident, supplemental health and life insurance—to
individuals in select countries. Our reinsurance operations include both
property and casualty and life companies.
Details of this critical opening follow:
AVP, Credit Management – SG30
SCOPE:
The Credit Management function at ACE is a key contributor to the distribution of ACE products and services. Partnering with our business unit executives and underwriters, ACM supports the sales effort while maintaining oversight of the credit worthiness and collateral requirements of all our key constituents – brokers, financial institutions and customers. The AVP, Credit Management, reporting directly to the SVP, Credit Management will be responsible, directly and through management of others, for credit management functions related to several ACE business units by:
• Managing collateral requirements and adjustments for large risk products through their life cycle.
• Evaluating insured and captive insurance company financial condition and managing credit exposure associated with deductible, retrospectively rated and captive programs.
• Managing trust exposure.
• Evaluating credit worthiness of Producers on and exception basis.
DUTIES & RESPONSIBILITES:
• Own and be accountable to management for the propriety of funded deductible adjustment process and ultimate collection including prioritization response/negotiations with underwriters, brokers and clients. Identify improvement opportunities.
• Own and be accountable for credit assessment and collateralization of deductible, retro and captive programs through in depth analysis of financial statements, direct contact with client company financial representatives, and an understanding of the insurance products and structures driving the credit risk.
• Own and be accountable for oversight of credit trust collateral form market values, qualifying securities, concentration limits, exception reports and resolution.
• Own cash collateral portfolio including supporting ledger detail related to ACE’s surety line of business.
• Coordinate with field and headquarters underwriting staff, actuarial, billing and collections, brokers, clients, banks (Trustees) and other parties to execute responsibilities.
REQUIRED QUALIFICATIONS:
• BS/BA in Accounting of Finance. MBA or CPA preferred.
• 8-10 years business experience in financial or accounting functions at the manager or director level
• Experience with banking and financial institution credit evaluation
• Knowledge of Insurance Industry including Large Risk Cash Flow programs and Statutory Insurance is desired.
• Strong interpersonal, negotiating and communication skills at senior levels both internally and externally.
• Team player with strong customer service orientation
• Strong time management and organization skills
• Strong verbal and written communication skills
ACE offers a competitive salary plus cash bonus, equity opportunities and a
comprehensive benefits package including life, health, dental, vision, a
generous retirement savings plan with a generous company match, disability
coverage, stock purchase plan, flexible spending accounts, tuition
reimbursement, and business casual dress.
Sound like the right job for you? For consideration, please apply below.
If you would like additional information about the ACE Group, please visit our
website at http://www.acelimited.com
