Director of Capital and Risk Management Strategy- Insurance

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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