VP, Corporate Development
12 - 15 years
Montpelier, VT
Full-time
Onsite
1 month ago
About the role
ATTENTION: Highly visible Reinsurance/M&A/Capital opportunity with enterprise impact and senior management & Board exposure
My firm has been retained on an exclusive search for a highly motivated, high-performance individual to assume the brand-new role of Vice President, Corporate Development, reporting to our client's Head of Capital Management.
The Vice President, Corporate Development will be a thought partner to the Head of Capital Management in identifying, evaluating, and selecting reinsurance/M&A opportunities and actions. Specifically, the incumbent will build and maintain a pipeline of strategic partnerships and reinsurance opportunities through proactive efforts and inbound interest; manage the entire reinsurance/M&A lifecycle, from sourcing and due diligence to valuation, negotiation, and final integration; develop sophisticated financial models and perform market analyses to support and validate business cases; and, identify industry trends and competitive landscapes to support long-term strategy.
The Corporate Development function is part of the broader Capital Management function, a very small, collaborative team currently leading Treasury cash management end to end and capital analytics and reporting (including overseeing risk-based capital reporting, rating agencies, banking, and broker relationships). The Corporate Development team, currently 3 staff, raises inorganic capital, explores transactions largely in the reinsurance space, along with partnerships, securitizations, financial reinsurance, and nonproportional reinsurance.
High Visibility: Because the work of the nascent Capital Team is of crucial importance to our client, the Executive Leadership Team and Board of Directors are highly attentive and invested in the team. The Vice President, Corporate Development’s visibility extends throughout the organization:
Timing = Influence: Our client specifically pursued, recruited, and hired a highly accomplished Head of Capital Management just one year ago to build and architect the capital team of the future, including establishing a Corporate Development function and leading the overall capital raise infrastructure. For the candidate excited to “build the plane as you’re flying it,” the Vice President, Corporate Development will be able to do exactly that - exert strategic influence, bring insights and ideas to help shape and drive the buildout of this team and the Company's approach to capital management in real time.
Core Purpose and Impact: Our client is a mutual company that is very proud of their 150+year history serving their middle market policyholders. Since they do not have shareholders, they answer to Main Street, not Wall Street. While a number of for-profit insurers and private equity/PE-backed organizations are assembling Corporate Development functions to raise capital to offset losses or otherwise shore up their balance sheets for subsequent acquisitions, often operating from a “defensive” position in a desire to do deals, our client is in very strong financial shape. This is not an acquisitive-at-all-costs organization focused on doing Reinsurance/M&A deals for the sake of doing deals simply to boost AUM. They are playing offense, looking ahead to match the capital velocity of existing embedded balance sheet growth to keep their promises for when policyholders need them.
But wait, there’s more. Our client wants to be a top 5 insurer in the nation, and they can’t get there without capital. So, the Vice President, Corporate Development will help pave the way for the growth they’ve set their sights on. According to the Head of Capital Management:
This opportunity is based either in New England or Southern U.S., with 4 days in office and 1 optional day at home. Generous relocation assistance is provided (if out of market).
The position offers a commensurate compensation and benefits package, including base salary and annual short-term and long-term bonuses.
At Bull & Company, we partner with high caliber, experienced actuaries, leveraging our proprietary candidate development process that uncovers your impact – how you bring value to an organization. The outcome of this process is a compelling story that differentiates you from other qualified candidates and positions you to gain access to opportunities uniquely tailored to your goals and interests, across traditional and non-traditional arenas. We provide:
BEFORE APPLYING, PLEASE NOTE THAT TO BE CONSIDERED, YOU MUST:
RESPECTFULLY, PLEASE REPRESENT YOURSELF TRUTHFULLY - YOU EXPECT THE SAME FROM OUR TEAM.
If this opportunity intrigues you and you possess the two minimum qualifications, contact Lisa Bull confidentially at 1+ 941.320.7113 or [email protected] to learn more. See our website at www.bullcompany.com.
My firm has been retained on an exclusive search for a highly motivated, high-performance individual to assume the brand-new role of Vice President, Corporate Development, reporting to our client's Head of Capital Management.
The Vice President, Corporate Development will be a thought partner to the Head of Capital Management in identifying, evaluating, and selecting reinsurance/M&A opportunities and actions. Specifically, the incumbent will build and maintain a pipeline of strategic partnerships and reinsurance opportunities through proactive efforts and inbound interest; manage the entire reinsurance/M&A lifecycle, from sourcing and due diligence to valuation, negotiation, and final integration; develop sophisticated financial models and perform market analyses to support and validate business cases; and, identify industry trends and competitive landscapes to support long-term strategy.
The Corporate Development function is part of the broader Capital Management function, a very small, collaborative team currently leading Treasury cash management end to end and capital analytics and reporting (including overseeing risk-based capital reporting, rating agencies, banking, and broker relationships). The Corporate Development team, currently 3 staff, raises inorganic capital, explores transactions largely in the reinsurance space, along with partnerships, securitizations, financial reinsurance, and nonproportional reinsurance.
High Visibility: Because the work of the nascent Capital Team is of crucial importance to our client, the Executive Leadership Team and Board of Directors are highly attentive and invested in the team. The Vice President, Corporate Development’s visibility extends throughout the organization:
- Leading and coordinating up to 40-person deal teams across Finance, Legal, Operations, Investments, Accounting, Product Pricing and Modeling, and other departments throughout the deal process.
- Acting as a key liaison in building stakeholder relationships with external partners.
- Presenting detailed business findings and guidance to Executive Leadership and Board-level reports.
Timing = Influence: Our client specifically pursued, recruited, and hired a highly accomplished Head of Capital Management just one year ago to build and architect the capital team of the future, including establishing a Corporate Development function and leading the overall capital raise infrastructure. For the candidate excited to “build the plane as you’re flying it,” the Vice President, Corporate Development will be able to do exactly that - exert strategic influence, bring insights and ideas to help shape and drive the buildout of this team and the Company's approach to capital management in real time.
Core Purpose and Impact: Our client is a mutual company that is very proud of their 150+year history serving their middle market policyholders. Since they do not have shareholders, they answer to Main Street, not Wall Street. While a number of for-profit insurers and private equity/PE-backed organizations are assembling Corporate Development functions to raise capital to offset losses or otherwise shore up their balance sheets for subsequent acquisitions, often operating from a “defensive” position in a desire to do deals, our client is in very strong financial shape. This is not an acquisitive-at-all-costs organization focused on doing Reinsurance/M&A deals for the sake of doing deals simply to boost AUM. They are playing offense, looking ahead to match the capital velocity of existing embedded balance sheet growth to keep their promises for when policyholders need them.
But wait, there’s more. Our client wants to be a top 5 insurer in the nation, and they can’t get there without capital. So, the Vice President, Corporate Development will help pave the way for the growth they’ve set their sights on. According to the Head of Capital Management:
- “In 2015, our statutory balance sheet was $20B. Today, it is $45B. Our stat capitalization in that 10-year period went from $2B to $4B. Think about that. NLG accumulated $2B of total adjusted capital after 166 years. In the subsequent 10 years, we doubled to $4B! We achieved that capitalization with a couple of important transactions, including a recent fund raise/ reinsurance transaction which raised significant Statutory capital for us. Even more significant is that because we write a lot of flexible premium products, growth is embedded in our balance sheet even if we don’t increase sales. We expect that by 2030, we need to capitalize the company from $4B to $8B. In the last 10 years, we raised $2B; and we are now looking at raising twice that amount in half the time. Bottom line, our capital velocity must keep pace with our growth, and we will achieve this holistically through strategy transactions and partnerships.”
This opportunity is based either in New England or Southern U.S., with 4 days in office and 1 optional day at home. Generous relocation assistance is provided (if out of market).
The position offers a commensurate compensation and benefits package, including base salary and annual short-term and long-term bonuses.
At Bull & Company, we partner with high caliber, experienced actuaries, leveraging our proprietary candidate development process that uncovers your impact – how you bring value to an organization. The outcome of this process is a compelling story that differentiates you from other qualified candidates and positions you to gain access to opportunities uniquely tailored to your goals and interests, across traditional and non-traditional arenas. We provide:
- 100% confidentiality – your resume shared ONLY with your permission
- Discover your true impact to unlock stretch opportunities
- Gain access to unadvertised job opportunities
BEFORE APPLYING, PLEASE NOTE THAT TO BE CONSIDERED, YOU MUST:
- Possess either SOA or Canadian ASA/FSA/CERA actuarial credentials
- Currently live or be willing to relocate to either our client's locations in New England or Southern US.
RESPECTFULLY, PLEASE REPRESENT YOURSELF TRUTHFULLY - YOU EXPECT THE SAME FROM OUR TEAM.
If this opportunity intrigues you and you possess the two minimum qualifications, contact Lisa Bull confidentially at 1+ 941.320.7113 or [email protected] to learn more. See our website at www.bullcompany.com.
Skills
Staffing and RecruitingInformation Technology