The Florida Hurricane Catastrophe Fund (FHCF) was created by Section 215.555, Florida Statutes, in November 1993 for the purpose of reimbursing certain insurers writing policies covering residential property in the State of Florida for a portion of their catastrophic hurricane losses. The FHCF is administered by the State Board of Administration (SBA). The FHCF operates as an insurer reimbursement program similar to reinsurance. The FHCF is funded by reimbursement premiums charged to participating insurers, investment earnings, and emergency assessments on most property and casualty insurers. Following a catastrophic hurricane that triggers coverage, the FHCF reimburses the insurers for a portion of their losses and for the 2004 and 2005 hurricanes, the FHCF paid over $9.5 billion. When cash resources of the FHCF are insufficient to reimburse losses, the statute provides for the issuance of revenue bonds through the SBA Finance Corporation. Since 2006, the Corporation has issued over $12 billion in pre and post event bonds.
What we need
The Florida Hurricane Catastrophe Fund is currently seeking a qualified person to fill the position of Manager of Financial Operations.
What you’ll do
Manage all matters related to the financial operations of the FHCF, including but not limited to:
Coordinate and manage all FHCF related audits, including the annual financial audit and the annual SSAE 18 audit
Perform financial evaluations of FHCF options related to reinsurance, debt issuance and borrowing
Manage all matters related to the financial operations of the SBA Finance Corporation, including but not limited to:
Compliance with all obligations related to existing and future Corporation debt issues
Coordinate with the Master Trustee regarding obligations of the Corporation
Assist with the administration of the Insurance Capital Build-up Incentive Program
Participates in the review of FHCF rules and forms and proposed legislation as directed by the Sr. Director of Operations and Examinations
Assist with exposure and loss examination program issues
A bachelor's degree from an accredited college or university in finance, accounting, economics, business or risk management and four years of related professional experience or a master's degree in one of the specified fields or an MBA and three years of related professional experience.
Professional experience in a related field may be substituted for the required college education on a year-for-year basis.
Knowledge, Skills and Abilities:
Knowledge of insurance and reinsurance concepts
Knowledge of debt financing
Knowledge of auditing and financial management concepts
Possess strong organizational skills and attention to detail
Ability to organize, develop and manage work processes
Ability to compile, organize and analyze financial data
Ability to perform at a high level in a team environment
Ability to communicate effectively, both in writing and orally
Ability to prioritize and solve problems
Ability to supervise and manage others
Ability to train others
Ability to apply statutes, rules and regulations
Accounting, management, insurance, audit, and financial management related experience
A professional certification in a related field such as the:
CPA from the American Institute of Certified Public Accountants
CGFM from the Association of Government Accountants
CPCU from the American Institute for Chartered Property Casualty Underwriters, or a reinsurance designation
Additional Salary Information: The Florida Hurricane Catastrophe Fund (FHCF) offers a competitive salary and an excellent benefits package including medical, dental, group life, short-term disability, retirement and professional development opportunities.
The State Board of Administration of Florida (SBA) provides a variety of investment and trust services to various Florida governmental entities. A key responsibility is to manage the assets of the Florida Retirement System Pension Plan, which is one of the largest public pension plans in the United States. The SBA’s primary focus is on investment management as it does not administer pension plan b...enefits. The SBA is responsible for administering the FRS Investment Plan (a defined contribution plan), the Lawton Chiles Endowment Fund, the Local Government Surplus Funds Trust Fund (currently known as Florida PRIME), the Florida Hurricane Catastrophe Fund and a variety of smaller funds.
At the SBA, we recognize that it is the talented colleagues behind our investment and trust management services who enable us to prudently balance risk and rewards and adhere to the highest professional and fiduciary standards. We are committed to seeking individuals who will enhance our team by contributing both to our knowledge pool and to the ethics and integrity that underscore our services.