Candidate for Chief Financial Officer or Chief Executive Officer Position
CAPABILITIES PROFILE
Innovative, results-oriented senior executive adept at building and directing strong, cross-functional teams to achieve immediate and long-term goals in the insurance industry. Highly qualified to be a Chief Financial Officer or Chief Executive Officer, with demonstrated expertise in areas essential for delivering overall corporate leadership. Effective under pressure, maintaining a high level of integrity, with exceptional problem-solving abilities. Significant experience and success in the following areas:
-Strategic Planning -Financial Management -Reinsurance -Actuarial -ERM
-Taxation -IT Management -Marketing -Operations -Sarbanes-Oxley
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PROFESSIONAL EXPERIENCE
PROPERTY / CASUALTY INSURANCE COMPANY 1989 - 2010
Key Achievements
- Developed multi-year strategic plans to address competition, increase profitability, and revitalize the organization. More than 90% of recommendations were accepted and successfully implemented.
- Established strategies to preserve and grow capital from $389 million to $724 million in five years.
- Managed tax planning and saved more than $100 million in income, premium, and federal excise taxes through an innovative method of returning profits to insured firms. Reconfigured a reinsurance commutation to defer $18 million in taxes, while retaining the book gain.
- Initiated a renewal marketing program to prevent loss of insured firms to competitors. The program, including a 23-city marketing tour, resulted in a 96% renewal rate.
- Restructured the reinsurance program resulting in, increased underwriting profit of over $20 million per year, more competitive insurance rates, and a stronger position with rating agencies.
- Renegotiated favorable reinsurance contract terms, resulting in a gain of several million dollars.
- Established and maintained the Standard & Poor’s and Fitch ratings in the AA category.
- Initiated, developed and directed the Enterprise Risk Management and Sarbanes-Oxley programs.
- Managed a full range of actuarial activities, including pricing, ratings studies, reserve valuations, reinsurance risk transfer testing, commutation analysis, and structuring of reinsurance programs.
- Developed customized, stochastic financial models for capital planning, reinsurance structure analysis, tax planning, risk management, and scenario testing to support decision-making.
- Delivered adjustment-free audits by external auditors, regulators, and taxing authorities.
- Internalized and managed the IT and tax compliance functions, resulting in substantial cost savings.
- Created processes and reporting standards for compliance with Internal Revenue Service Section 482 transfer pricing requirements. Implemented related budget systems and monitoring procedures.
BIG 4 ACCOUNTING FIRMS 1973 - 1989
Practice focused on Life and P&C insurance companies and other financial services industry clients.
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EDUCATION/CERTIFICATION
Bachelor of Business Administration -- Major - Accounting
Certified Public Accountant (CPA) -- Licensed
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CURRENT PROFESSIONAL AFFILIATIONS
Financial Executives Institute
ARe - Insurance Institute of America
American Institute of Certified Public Accountants
State CPA Society
Insurance Accounting & Systems Association |
