Description
The Chief Financial Officer (CFO) reports to the CEO of the American Insurance Trust (AIT, also known as “The Trust”) and serves as a resource to the AIT Board of Trustees. The CFO is responsible for overseeing all financial operations of AIT/The Trust and its subsidiaries. The CFO provides insights, analysis, and recommendations to guide executive decision-making and new strategic ventures for The Trust Companies. The CFO collaborates with other executives and department heads to ensure financial stability and sustainable growth.
The CFO will have primary day-to-day responsibility for planning, implementing, managing and controlling all financial-related activities of the organization. This will include direct responsibility for accounting, finance, forecasting, strategic planning, property management, deal analysis and negotiations.
Hours: Full-time; core working hours
Location: Rockville, MD. Hybrid work schedule, In-office/remote
Supervisory Hierarchy: Reports to CEO; CFO has two direct reports and one indirect report
Salary Range: $180,000 - $290,000 (base pay)
Organization Overview
The American Insurance Trust (The Trust) was established as a formal entity in 1962 as a business trust under District of Columbia law. Its mission is “to provide insurance and other financial security products to meet the unique needs of psychologists, allied health professionals, health care organizations and groups, and other healthcare professionals."
The Trust has long been a leading provider of expanding insurance and risk management programs for psychologists, psychology students, and related professionals in the United States. Our insurance programs include The Trust Sponsored Professional Liability Program and Business Office Insurance; financial security programs offering Life, Disability, Office Overhead, and Auto and Home Insurance; Directors and Officers Insurance; Cyber Enterprise Risk Management Protection; Pet Insurance; and other programs such as Long-Term Care Insurance and Retirement Planning Services. Our risk management resources for the psychology profession include the “Advocate 800 Program” consultation service, Ethics and Risk Management Continuing Education Workshops and Webinars, and independent learning publications.
The Trust’s wholly owned subsidiary, Trust Risk Management Services, Inc. (TRMS), acts as Broker and Administrator for The Trust’s Professional Liability, Business Office, and Directors and Officers lines of insurance. Brokerage and administration services include policy underwriting, issuance, and lifecycle management; customer service; and technical services. TRMS is fully licensed to do business in all jurisdictions. TRMS has its own Allied Healthcare Professional Liability Insurance Program which offers very competitive Professional Liability, Student Liability, Business Office, and Directors and Officers Insurance coverage to Allied Healthcare Professionals in more than 120 professional classes. The Trust works with highly rated insurance companies to underwrite its insurance programs, primarily Lincoln Financial Group, Liberty Mutual, and Chubb, the world’s largest publicly traded property and casualty insurance company.
Duties and Responsibilities
The CFO oversees cash flow planning, investment, asset management, financing strategies and activities, as well as banking relationships; develops and utilizes forward-looking, predictive models and activity-based financial analyses to provide insight into the organization’s operations and business plans. The CFO also oversees the Accounting Department to ensure proper maintenance of all accounting systems and functions and adherence to appropriate internal controls and financial procedures. Specific duties include:
- Financial Management & Reporting – Ensures proper and timely preparation of consolidated monthly financial statements and analysis reports for management and the Board of Trustees.
- Financial Planning & Analysis – Prepares and reviews reports to analyze projections of revenues/profit against actual figures and budgeted expenses against final totals; suggests methods of improving revenues and expenses against policies or contracts.
- Investments – Ensures proper compliance with policies on investments strategies; participates in the management of investments; works with banks to raise additional capital as required.
- Budgeting/Planning – Participates in the annual financial planning and reporting process with continual improvement of the budgeting process.
- Strategic Plan – Participates in the development of the organization's strategic plan; evaluates and advises on the financial impact of long-range ventures and initiatives.
- Internal Controls and Business/Accounting Process Management – Analyzes the organization's business processes to develop control procedures and identify areas for improvement; establishes, reviews, monitors, documents and tests internal controls and adjusts, as appropriate.
- Financing/Cash Optimization – Optimizes the handling of financial institution relationships and initiates appropriate strategies to enhance cash position.
- Treasury/Forecasting –Develops a reliable cash flow and forecast projection process and reporting mechanism, which includes minimum cash threshold to meet operating needs.
- Contract Review/Corporate Structuring – Advises on any contracts the organization may enter, as well as banking agreements, letters of credit, legal formation, etc.
- Tax Planning & Statutory Reporting – Manages all federal, state and international tax planning and reports through coordination with the organization's outside tax firm.
- Audit Liaison – Coordinates all audit and statutory filing requirements with the organization’s Independent Audit firm.
- Risk Management – Identifies and assesses financial risks and develop strategies to mitigate them.
- Human Resources – Coordinates with Director of Human Resources in human resources and payroll functions; creates policies/procedures; administers benefits, etc., including all business and employee benefits, insurance et al.
Requirements:
- Bachelor's degree in Finance, Accounting, Business, or a related field; CPA is preferred.
- 8-10 years of experience of account management and/or outside business development/sales.
- Proven experience as a CFO, or experience in a senior financial leadership role interacting with C-suite/corporate governance.
- Strong analytical and strategic thinking skills.
- Proficiency in financial software (e.g., Great Plains Dynamics) and Enterprise Resource Planning (ERP) systems (e.g., Sage Intacct, etc.).
- Proven record of growing books of business; commercial insurance, underwriting knowledge and experience is a plus.
- Good relationship builder; possesses solid communication and interpersonal skills to work with a variety of personality types including executive level contacts.
- Ability to work independently as well as cooperatively; possesses leadership experience and skills to build and lead high-performance teams.
- Proficiency in MS Office Suite (Word, Excel, PowerPoint).
- Ability to travel for at least three long-distance trips per year; must be able to stay overnight for meetings as necessary.
How to Apply:
Interested candidates should submit a current resume and a brief cover letter (not to exceed two pages) addressing how their knowledge, skills and abilities meet the requirements and address the duties and responsibilities described above.
Please send materials to: Director of Human Resources, American Insurance Trust at careers@trustinsurance.com
Application deadline: Open until filled.