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Director of Corporate Forecasting

Company: United Fire & Casualty Co
Location: Cedar Rapids
Posted on: April 9, 2021

Job Description:

Cedar Rapids, IA (HQ)
118 2nd Ave SE
Cedar Rapids, IA 52401, USA
UFG offers you an award-winning workplace and a trustworthy, financially stable company. While--we've--always known our commitment to employees and financial stewardship, it is good to have others recognize our dedicated efforts. We've been named an Iowa Top Workplace by the--Des Moines Register--for four consecutive years, and included on--Forbes'--"America's Most Trustworthy Financial Companies" every year since 2014. Additionally, UFG is a super-regional property and casualty insurer rated "A" (Excellent) by A.M. Best Company.-- UFG is looking for a Director of Corporate Forecasting to oversee our financial forecasting process. This individual will also be very hands on in building financial forecast models, coordinating with various personnel in analytics, finance, and investments to provide the company with forward-looking projections of insurance company financial performance. Responsibilities:

  • Develop UFG's current forecasting process to industry best-in-class, including building of new multi-year and multi-dimensional forecasting model at a Statutory Line of Business, Branch and ultimately translated to a consolidated SEC GAAP reporting entity view
  • Coordinate the forecasting workflow from various internal and external sources, including expected claims, catastrophe losses, accident and calendar year reserve development, investment income, and other balance sheet drivers.
  • Support the strategy office with scenario analysis that monitors implementation of the OneUFG strategy
  • Collaborate with the risk office to anchor the economic capital model around the forecast and develop stress scenarios to support the ORSA process. Qualifications: Education:
    • Bachelor's degree in statistics, finance, or related field. Experience:
      • 5+ years of progressively responsible experience in the P&C insurance industry in a Corporate Finance role
      • Experience in P&C insurance corporate planning and financial forecasting, preferably in commercial line of business Knowledge, skills & abilities:
        • Strong knowledge of both statutory and GAAP accounting principles
        • Knowledge of technical forecasting concepts: loss and exposure trending, property catastrophe modeling, premium on-leveling, and expected reinsurance recoveries.
        • Familiarity with the P&C loss model reserving process, actuarial methodologies including IBNR and principles of Accident Year & Pricing impact on future business outcomes
        • Experience in providing inputs and interpreting outputs from an economic capital model
        • Experience with forecasting impacts of investment income, and other changes to surplus and equity within an insurance operation.

Keywords: United Fire & Casualty Co, Cedar Rapids , Director of Corporate Forecasting, Executive , Cedar Rapids, Iowa

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