What are the responsibilities and job description for the Chief Financial Officer position at Guarantee Trust Life Insurance Company?
Job Description
Guarantee Trust Life Insurance Company is seeking a Senior Vice President of Accounting/Chief Financial Officer to join our team of high-performing leaders and maintain our financial position for continued success.
The CFO is a key member of the Executive Management team and reports directly to the CEO. The successful candidate will be a key strategic leader and will have primary day-to-day responsibility for planning, implementing, managing and controlling all financial-related activities and goals. This includes direct responsibility for the finance and accounting teams, risk management, regulatory compliance and portions of strategic planning and forecasting. As a member of senior management, the CFO will be comfortable in a leadership role that requires clear and effective communication skills. This is a pivotal business partner role that requires a full-time onsite presence.
The CFO will have an ongoing impact on company operations, helping us to analyze, strategize, and grow our financial position. The selected candidate will be an innovative thought leader who is comfortable operating in an entrepreneurial environment, and will partner with the Executive team to offer quality, meaningful analyses and financial perspectives necessary for driving corporate decisions and impacting the future growth and development of the organization through organic growth strategies.
Key Responsibilities Include
Planning & Reporting
Background Required:
An undergraduate degree in accounting or finance is required. An advanced degree and/or CPA is a plus.
About Us
Guarantee Trust Life Insurance Company is an A rated insurance company and a longstanding leader in the life and accident & health (A&H) insurance. In business since 1936, Guarantee Trust Life Insurance Company was founded on the two fundamental principles of quality products and excellence in customer service. We offer excellent benefits, including a company-sponsored 401(k) and profit-sharing program.
When you join GTL, you will be part of a company that actively participates in and supports our community. We are passionate about personal development, giving back, and supporting the Chicagoland area. Team members are encouraged to participate in self-development projects and volunteer opportunities each year, and are financially recognized for their participation.
The pay range provided is not a guarantee of compensation. The range reflects potential pay for the job grade for this role at the time of this posting. Compensation will depend on several factors such as specific competencies, relevant education and experience, qualifications, and industry certifications. Compensation ranges are subject to change and may be higher or lower than the range described above.
Provided eligibility requirements are met employees will be eligible for the following benefits:
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Guarantee Trust Life Insurance Company is seeking a Senior Vice President of Accounting/Chief Financial Officer to join our team of high-performing leaders and maintain our financial position for continued success.
The CFO is a key member of the Executive Management team and reports directly to the CEO. The successful candidate will be a key strategic leader and will have primary day-to-day responsibility for planning, implementing, managing and controlling all financial-related activities and goals. This includes direct responsibility for the finance and accounting teams, risk management, regulatory compliance and portions of strategic planning and forecasting. As a member of senior management, the CFO will be comfortable in a leadership role that requires clear and effective communication skills. This is a pivotal business partner role that requires a full-time onsite presence.
The CFO will have an ongoing impact on company operations, helping us to analyze, strategize, and grow our financial position. The selected candidate will be an innovative thought leader who is comfortable operating in an entrepreneurial environment, and will partner with the Executive team to offer quality, meaningful analyses and financial perspectives necessary for driving corporate decisions and impacting the future growth and development of the organization through organic growth strategies.
Key Responsibilities Include
Planning & Reporting
- Oversee the execution of the financial planning cycle, including the preparation of long-range financial forecasts, feasibility studies, as needed, and annual budgets.
- Assure compliance with all corporate policies and procedures relating to the Company’s financial reporting, financial planning, and reimbursement activities.
- Communicate and consult with the Company’s leadership and Board of Directors regarding the financial condition and performance of the Company, as well as the development of operational policies and procedures that include financial elements.
- Advise leadership regarding new programs/financial issues in a consultative manor, making recommendations about the financial implications of a decision.
- Ultimate responsibility for the accurate reporting and analysis of all financial-related information to internal and external sources.
- Assures the development and maintenance of appropriate internal controls to adequately safeguard the assets of the organization and to assure accurate financial reporting for both management and external purposes.
- Oversees or has responsibilities for the following areas, and as such, the candidate should have experience with and/or good general knowledge of:
- Statutory accounting and legal entity, and other managerial financial statements.
- Investment accounting and related regulations.
- Federal and state income tax regulations for corporations and for the insurance industry.
- Analyzing accounting data and meeting financial accounting objectives and deadlines.
- State premium taxes, annual state filings and unclaimed property.
- Retirement Plan ERISA and employee benefit regulations.
- Payroll, Premium accounting, and Commission accounting.
- Enterprise Risk Management and its effective application in an organization.
- Reinsurance, vendor and third party administrator’s management and contracting processes.
- Annual budgeting and forecasting.
- Dealing with regulators, rating agencies, banks, auditors and other advisors/consultants, including a strong knowledge and understanding of the auditing process.
- Provides strategic financial input and leadership on decisions affecting the organization; i.e., evaluation of potential alliances, business expansion, and investments.
- Provides recommendations to strategically enhance financial performance and business opportunities.
- Provides evaluation, training, leadership and direction so as to motivate and develop staff reporting directly to this position.
Background Required:
- The ideal candidate will have 15 years of finance experience, preferably with an insurance company, and will understand complex financial structures, including income taxes, investments, and reinsurance. Experience should also include knowledge of corporate governance, and the regulatory and legal framework applicable to insurance companies. Prior experience managing relationships with key vendors, operating partners and external auditors is ideal.
- Demonstrate natural curiosity, excellent analytical skills, strong problem-solving skills, and have a penchant for accuracy and detail.
- Demonstrate excellent management skills (organizational effectiveness competencies).
- Have experiences with the nuances of a family-run business.
- Have the capability to build alignments for initiatives and programs across the enterprise.
- Have the ability to quickly gain creditability and partner effectively with all internal and external constituents, including the Board of Directors.
An undergraduate degree in accounting or finance is required. An advanced degree and/or CPA is a plus.
About Us
Guarantee Trust Life Insurance Company is an A rated insurance company and a longstanding leader in the life and accident & health (A&H) insurance. In business since 1936, Guarantee Trust Life Insurance Company was founded on the two fundamental principles of quality products and excellence in customer service. We offer excellent benefits, including a company-sponsored 401(k) and profit-sharing program.
When you join GTL, you will be part of a company that actively participates in and supports our community. We are passionate about personal development, giving back, and supporting the Chicagoland area. Team members are encouraged to participate in self-development projects and volunteer opportunities each year, and are financially recognized for their participation.
The pay range provided is not a guarantee of compensation. The range reflects potential pay for the job grade for this role at the time of this posting. Compensation will depend on several factors such as specific competencies, relevant education and experience, qualifications, and industry certifications. Compensation ranges are subject to change and may be higher or lower than the range described above.
Provided eligibility requirements are met employees will be eligible for the following benefits:
- Medical
- Health Savings Account (including employer contribution)
- Dental
- Vision
- Basic Life Insurance (full premium paid by employer)
- Voluntary Employee, Spouse and Child Life Insurance
- Short-Term and Long-Term Disability
- Paid Holidays
- Paid time off including vacation, personal days, and sick time
- The amount of time off varies based on tenure and hours worked
- 401(k) and Profit-Sharing retirement plan
- The company matches contributions up to 2% provided the employee contributes a minimum of 3%
- The company may make a discretionary contribution to the Profit-Sharing plan
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