Senior Strategic Financial Modeler

Reporting directly to Pie’s Vice President of FP&A, this role will be responsible for owning the three-statement financial modeling for the strategic plan, budget and forecasts which will inform decisions at the executive and board level.  The ideal candidate has deep modeling and forecasting skills in the P&C insurance industry and deeply understands insurance accounting, both GAAP and Statutory, and can easily analyze and explain drivers of performance for insurance carriers.  This individual will be highly analytical with the ability to synthesize information from disparate sources across the business and strategic landscape.

How You’ll Do It

• Insurance financial modeling:
• Build from scratch the three-statement financial projection model (balance sheet, income statement and cash flow) by legal entity for both GAAP and Statutory projections
• Own capital modeling for the business - BCAR, RBC, and Hazardous Financial Condition 
• Perform variance analysis on key elements of results (gross written premium, net earned premium, losses, cash, capital, balance sheet drivers that impact the model
• Create presentation materials for various audiences including senior leadership and the Board, to display forecast, plan and actual results
• Maintain rolling near- and long-term forecasts for use by Pie management, Pie’s Board, and to inform communications with investors, ratings bureaus, reinsurance partners, and regulators
• Coordinate with FP&A business partners and their business leaders on incorporating 5-year business plans into the models
• Reinsurance:
• Read and understand reinsurance contract terms and understand accounting for reinsurance for all policies in force
• Build out the forecast model for the treatment of reinsurance, pulling the thread through to all three financial statements
• Earned Premium: Builds out the modeling and forecasting for Gross to Net Written and From Gross to Net Earned, taking into account UPR and IFP impacts
• Net Losses and LAE
• Build loss and LAE forecasts based on AY and PY; understands loss triangle modeling
• Perform variance analysis and explain drivers of variance to a peg (e.g. CAY and PAY development and drivers of that development by state/segment)
• Work with our actuarial, claims and data science teams to understand trends and drivers of Pie’s insurance losses and integrate those insights into our forecasting processes
• Deferred Acquisition Costs: Build modeling/forecast for DAC and explains variances 
• Strategic Finance and Other Modeling and Presentations
• Build ad-hoc models for analyzing and aiding strategic decision-making 
• Build out the MD&A financial narratives to help the board and investors understand Pie’s business
• [Provide financial modeling and analysis support for fundraising, reinsurance negotiations, and potential future acquisitions]

The Right Stuff

• Bachelor’s Degree in Finance, Business, Economics, Accounting or related field is required.
• 8+ years of total relevant experience in the areas of insurance Finance or Accounting is required.
• 5+ years of experience in Financial Planning and Analysis (FP&A) is required
• 2+ years of building financial models specific to insurance companies is preferred, including modeling RBC and BCAR
• Insurance industry experience is required (P&C experience is a plus) 
• Strong insurance accounting knowledge including both GAAP and Statutory is highly recommended.
• Exceptional modeling skills with strong experience building three-statement models, building models from scratch, and building dynamic scenarios for scenario analysis.
• Strong finance acumen and with a high attention to detail.
• Highly skilled in variance analysis and developing related commentary (budget vs actuals and vs forecast).
• Oriented around forecasting accuracy and performs variance analysis to better their own modeling.
• Highly analytical skills and natural curiosity for how the “why” behind company metrics and KPIs; digs in until they have the understanding.
• Comfortable working with large datasets.
• Strong preference to base decisions on data and ROI.
• Ability to identify areas of opportunity and drive projects from planning to completion.
• Ability to work with minimal guidance.
• Experience in managing work-streams end-to-end along with working across multiple functions and teams.
• Advanced proficiency in Excel and PowerPoint. 
• Excellent interpersonal, oral/written communication skills, with the ability to build trusted relationships with business stakeholders.
• Google Suite, Looker, Intacct, Adaptive and Workday experience or experience with related tools is a plus.

Last updated on Aug 22, 2024