Description:
What this position will be doing:
o We currently have people on the credit risk team that are responsible for overseeing insurance company risk, but we have identified a need for greater knowledge and expertise of our insurance company members as they are growing and becoming more complex. We need to make sure we have a good understanding of their business as well as the risks and how they should be assessed by us. We are going to redevelop our oversight of that type of member and as we redevelop it, existing practices will be modified and enhanced, and new practices will develop. This role would be a functional manager while they develop the program and framework and over time it could become a people manager. We have around 40 insurance companies, but insurance company borrowing is important to provide stability and diversification in our business. Looking for someone with experience overseeing credit risk and experience with reviewing financial performance of a company and assessing their risk and understanding their business and structure. Need to be able to understand the insurance company balance sheet and their strategy and how they report their financials.
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o Hybrid schedule 4 days in office and 1 day work from home
Must haves:
o Bachelor s degree in Business, Finance, Economics, Mathematics or Statistics, advanced degree in business, economics or finance or equivalent work experience preferred
o 10+ years experience in credit risk scoring and analysis, portfolio management or regulatory agency experience, knowledge of insurance company credit or financial analysis
o Experience performing or overseeing credit risk management programs of life and property and casualty companies, prefer insurance regulatory solvency experience
o Strong understanding of insurance company balance sheet structure, reinsurance structures, financial management strategy, financial statements, disclosures and related schedules
o Knowledge of statutory accounting principles (SAP) and generally accepted accounting principles (GAAP)
o Experience in credit risk management, including policy and business strategy
Wants/ Preferred knowledge:
o Excellent written and verbal communication skills
Soft Skills:
o Collaboration and teamwork
o Ability to plan, organize, analyze, and draw logical conclusions
Interview Structure:
o 1st Round Interview Onsite (or virtual if relocating) 60 minutes
o 2nd Round Interview Onsite 2 Panels for 60 minutes each
Pay :
o $149,579 167,177 +20% yearly incentive target based off of Bank performance (open to including relocation benefits)
Intake call notes:
Insurance Company Credit Risk Manager Client, Des Moines
Description:
Role will redesign the framework for monitoring insurance companies. Goal is to enhance what FHLB are already doing and eventually merge the new framework with current.
Role will have collaboration with the product team and member relationship team. Sometimes legal team will be involved.
Role will serve as a functional manager.
Experience targets:
Designing credit risk framework is important for experience not just knowledge of credit risk
Risk oversight framework is more important than liquidity framework
Be familiar with balance structures and sheets, assess financial performance, risk metrics, and regulations
Soft skills - Communication, presentation, professional presence, team leadership
Additional details:
Pay - $149k $167k. 20% incentive target open to relocation benefits
1st round interview leaders on the credit team, credit risk managers
2nd round interview - Other business executives, legal officers, business officer, product funding group director
Virtual interview for 1st round can be OK for relocation candidates
4 days in office, 1 day remote
There will not be a significant amount of travel for the position maybe going to other branches
Screening Questions:
o Describe 3 key metrics you would utilize to assess the credit health of an insurance company and why those metrics are important.
o Describe the difference in earnings of an insurance company with using SAP vs. GAAP.
o Rate yourself as Beginner, Intermediate, or Advanced in understanding reinsurance structures used by insurance companies and why do you rate yourself that way?
o Summary of your experience with credit frameworks? Designing, building, and implementing.
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