Insurance Company Credit Risk Manager

At FHLB Des Moines, we work each day to develop an inclusive culture that supports and leverages the complexity of a diverse workforce. This enables us to effectively serve the needs of our members and help them succeed.

Lead the development of analysis, monitoring and reporting conclusions of credit risk associated with the Bank's insurance company member institutions. Manage the activities of credit analysts.

Accountabilities:

Responsibilities/Duties/Function/Tasks:

• Develop and oversee the framework for analyzing insurance companies used to determine acceptable risk exposure in line with Bank policy.
• Oversee the review and analysis of information and results presented in member regulatory and Generally Accepted Accounting Principles (GAAP) financial statements, utilizing National Association of Insurance Company (NAIC) tools.
• Lead the review and analysis of information from other sources relevant to the current and prospective credit condition of insurance company members such as public news reports, rating agency reports, SEC filings, earning calls and releases, etc.
• Review and make recommendations on conclusions and actions resulting from analyses of member and insurance company portfolio credit risks.
• Prepares and presents informational materials to management, regulators, members and the board of directors related to insurance company membership credit risk, insurance company industry financial trends and events.
• Monitors and educates team and management on changes to Statements of Statutory Accounting Principles (SSAP), model laws and other activities of the NAIC, which affect financial reporting and regulation of insurance companies.
• Provide leadership in selecting and utilizing member credit risk systems and tools capabilities.
• Develops staff through performance management, goal setting, training, and effective employee relations.
• Identify, organize, and promote ideas for individual and team recognition.

Qualifications:

• Bachelor's degree in Business, Finance, Economics, Mathematics or Statistics, advanced degree in business, economics or finance or equivalent work experience preferred
• 10 years' experience in credit risk scoring and analysis, portfolio management or regulatory agency experience, knowledge of insurance company credit or financial analysis
• Experience performing or overseeing credit risk management programs of life and property and casualty companies, prefer insurance regulatory solvency experience
• Strong understanding of insurance company balance sheet structure, reinsurance structures, financial management strategy, financial statements, disclosures and related schedules
• Knowledge of statutory accounting principles (SAP) and generally accepted accounting principles (GAAP)
• Experience in credit risk management, including policy and business strategy
• Excellent written and verbal and communication skills
• Proficiency in Word and Excel, knowledge of SQL preferred
• Collaboration and teamwork skills
• Ability to plan, organize, analyze, and draw logical conclusions required

Compensation Range:
Annual Salary: $149,579.00 - $167,177.00

This salary range represents the Bank's good faith and reasonable estimate of possible compensation at the time of hire. Offer to be determined by selected applicant's education, experience, knowledge, skills & abilities, as well as internal equity and alignment with market data. This role is also eligible to participate in the Bank's annual incentive plan.

As part of our competitive Total Rewards package, the Bank offers 11 paid holidays, 5 weeks of PTO and a work culture that values work/life balance. Most roles are eligible for our hybrid work schedule of 3 days per week in office, 2 days per week work-from-home. We match 100% of the first 6% you contribute to your 401(k), and provide an additional 4% non-discretionary contribution to your 401(k) at the end of year. More information on our Total Rewards program can be found here.

At FHLB Des Moines, we celebrate diversity, work to create an inclusive culture and champion equity in all of our policies and practices. This enables us to effectively serve the needs of our members and help them succeed. FHLB Des Moines is proud to be an Equal Opportunity Employer. We prohibit discrimination on the basis of race, color, religion, sex (including pregnancy, sexual orientation or gender identity), national origin, age, disability, veteran status, genetic information (including family medical history), status as a parent or any other characteristic protected by federal, state or local law.