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PA - Philadelphia,
PA
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Career Field |
Accounting/Financial, Operations
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| Insurance
Discipline |
All
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| Relocation
Assistance |
Not Available
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| Job
Duration |
Full Time |
| Salary
Offered |
Open |
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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
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