Top Subsidiary Executive jobs in Philadelphia, PA

PMA's Subsidiary and Operating Center (SOC) Shared Services Segment is a distinct business segment within PMA responsible for operational and product support to new ventures formed by PMA's parent organization, Old Republic General Insurance Group. Currently PMA provides financial, actuarial, product management, marketing, legal, claims, and IT services to six subsidiary and operating centers, all focused on different insurance specialties. The plan is to add new SOCs in the future that the SOC Shared Services Segment will support.

The Old Republic General Insurance Group is the largest business segment within Old Republic International, a Fortune 500 Company, and one of America's 50 largest shareholder owned insurance businesses. PMA, which is a member of Old Republic General Insurance Group, is a national casualty insurance carrier and top ten Third Party Administrator headquartered in Blue Bell, Pennsylvania with offices throughout the United States. Staff and services for the SOC Shared Service Segment are mostly provided through the Blue Bell location.

The Vice President will be accountable for the financial (P&L) and operational performance of PMA's SOC Shared Services segment. The position will work closely with PMA executive leadership, the SOC Presidents, and PMA's functional leadership and staff to develop SOC specific business plans that detail the financial objectives and operational requirements and staff that are necessary to support each SOC.

This position will monitor the execution of the operational plans as well as overall financial performance to ensure that PMA is achieving the stated objectives for each SOC and the SOC Shared Services Segment in aggregate. The position will be accountable to communicate financial and operational performance gaps and improvement plans to PMA and SOC leadership.

Responsibilities

• Manage the P&L to ensure PMA is achieving our financial objectives for the SOC Shared Services segment. This includes an ongoing assessment of the activities performed in each department to ensure our fees and costs are aligned. Responsible for implementing corrective actions when the need arises.
• Conduct a quarterly financial review meeting with each SOC highlighting the fees and expenses associated with servicing the business. This will be done in conjunction with PMA Financial and also include discussion on key deliverables provided for each SOC during the quarter.
• Provide updates to PMA leadership on the performance with each SOC and the overall performance of the SOC Shared Services organization.
• Build a business plan for SOC Shared Services that details the work PMA performs in each department to support the SOCs. This process will necessitate working closely with each SOC to understand their business plan and determine how their plans will impact the work and staffing required of PMA.
• Conduct regular operational reviews with SOC leadership and PMA staff to ensure we are accomplishing the objectives and timeframes established in the business plan for each SOC. Includes determining if action plans related to operations and processes are proceeding effectively.
• Interact closely with SOC leadership to determine if their business plans or growth objectives are evolving. If so, identify how PMA is impacted and determine the adjustments we need to make to our operations and staffing.
• Evaluate PMA staffing levels to ensure that both PMA's needs and SOC requirements are being met.
• Work closely with Actuarial and Product Management to ensure
  enhancements to our reporting and repository capabilities are implemented.
• Engage with PMA IT staff to ensure that system integration needs are met. Will also work with new SOCs on policy, claims, and billing system due diligence.
• Work closely with ORI and PMA leadership on new SOCs that are formed to identify needs and create an implementation process. Develop a universal SOC onboarding and project management template that can be utilized for new ventures. Identify enhancements to our organizational structure if required.
• Continuously assess performance and interaction with each SOC and lead corrective actions where appropriate.
• Demonstrate commitment to Company's Code of Business Conduct and Ethics, and apply knowledge of compliance policies and procedures, standards and laws applicable to job responsibilities in the performance of work.

• Bachelor's Degree required.
• Prior Property and Casualty Insurance Experience is required. A minimum of 15 years' experience with at least five years of leadership experience. Operational leadership experience is required.
• Managing teams with P&L accountability preferred.
• Experience leading shared services functions or multi-discipline teams.
• Experience managing medium to large scale projects is preferred.
• Skills to interact effectively with company executive and operational leadership.
• Ability to grasp new company business plans and develop implementation plans.
• Demonstrated management and leadership skills with a proven track record of successful group dynamics and interpersonal relationships.
• Ability to work successfully across organizational lines and influence outcomes.
• Experience in strategic planning and execution with ability to analyze and propose solutions to complex business challenges and problems.
• Adept at working collaboratively with cross- functional business units to achieve organizational objectives.
• Professional written and verbal communications, interpersonal skills, and ability to work with others.
• Ability to prioritize and organize.