Director of Finance
Local Government Insurance Trust (LGIT) is seeking an experienced and analytical finance professional to oversee all company financial activities to ensure it stays in strong financial standing. You will be responsible for oversight of the company’s day to day financial operations, assessing the financial performance of the company, as well as possible risks, and working with our investment advisors. To apply for this opportunity, send a letter and resume to firstname.lastname@example.org no later than August 25, 2023.
Who We Are
LGIT is a member-owned association authorized by state law, wholly owned and managed by its local government members. LGIT’s main purpose is to provide joint self-insurance programs or pools for towns, cities, and counties in the state of Maryland. The concept is simple – rather than paying premiums to buy insurance from an insurance company, local governments contribute those premiums into a jointly owned fund. The money in that fund is used to pay for the members’ claims, losses, and expenses. LGIT is an equal opportunity employer.
We are seeking a dynamic finance director with a proven track record of success to manage and direct all company finances. Responsibilities include complex data analysis, budget forecasting, overseeing accounts and budgets, and making strategic financial decisions that will promote long-term financial gain. You must have experience in the financial sector with a strong financial vision and insight to match. This executive will have direct supervisory responsibility for a staff of four. Salary range between $150,000 and $175,000 per year, dependent upon level of experience and expertise.
- Oversight and supervision of staff in all aspects of LGIT’s financial and accounting operations to include: information systems, accounts payable and payroll, billing and accounts receivable, fixed assets, general accounting and monthly close, budget, and long-term financial planning.
- All financial reporting to include: preparation of LGIT’s annual financial report, preparation of monthly financial statements, Federal and State regulatory reports, implementation of all new GASB pronouncements as issued, reporting to and working with LGIT’s Finance/Audit Committee.
- Oversight of LGIT’s cash management operations to include: daily management of the cash flow and banking relationships, as well as development and implementation of investment policies and procedures.
- Daily oversight and communication with LGIT’s investment advisors and external investment managers. • Prepare all necessary accounting and investment reports and appropriate investment policies.
- Work closely with LGIT’s investment advisors and its Finance/Audit Committee in developing investment strategies and changes in investment policies and guidelines. Report directly to LGIT’s Finance/Audit committee and the Board in this area.
- Coordination of annual audits conducted by independent auditor to include: Audit of financial statements, acting as liaison between Finance/Audit Committee and independent auditor, management of the annual actuarial review process and calculations of reserves for unpaid claims, presenting audited financial statement to the Executive Director, Finance/Audit Committee, the Board of Trustees and to LGIT’s membership.
Requirements and Skills
- Proven experience as director of finance or similar role
- 7+ years’ experience in a finance position
- In-depth knowledge of corporate finance and accounting principles, laws and best practices
- In-depth knowledge of the principles, concepts, and practices of governmental accounting
- Solid knowledge of financial analysis
- Background in the insurance industry or risk pooling
- Proficient in the use of MS Office and financial management software (e.g. Great Plains)
- An analytical mind with a strategic ability
- Excellent organizational and leadership skills
- Outstanding communication and interpersonal abilities
- Ability to multitask, prioritize and delegate responsibilities in an effective and efficient manner
- Outstanding integrity and solid moral judgment
- Possess strong leadership skills and business acumen
- BA/BS in accounting, finance or relevant field
- CPA is required
- MSc/MA or MBA is a plus
Work Hours and Benefits
- Full-Time – 37.5 hours per week
- Remote work two to three days per week
- Health, Dental, and Vision Insurance
- Paid leave – Vacation (12), Sick (10), and Floater Holidays (3) – all pro-rated for the first year
- Employee Assistance Program (EAP)
- Life insurance (2x salary)
- Short and long-term disability insurance
- 401(K) – employer funded at 6% of salary after one year of employment
- 457 Plan – self-funded
- Flexible Spending Account (FSA)
- Professional development assistance