Senior Manager- Insurance Analytics
Collin County, TX
Collaborative. Respectful. A place to dream and do. These are just a few words that describe what life is like at Toyota. As one of the worlds most admired brands, Toyota is growing and leading the future of mobility through innovative, high-quality solutions designed to enhance lives and delight those we serve. Were looking for diverse, talented team members who want to Dream. Do. Grow. with us.
Who were looking for
Head finance role in TFS growing Insurance line of business providing financial strategy development, financial management, profitability and risk measurement, pricing and incentive structure development. The role requires breadth (insurance industry, captive company, financial management, regulatory framework and leadership) and depth (analytical, actuarial, statistical, utilization of analytical tools/data, insurance regulatory knowledge).
Insurance operations includes 3 companies, 7 major product lines, over 8.4 million agreements in force, and annual operating income of approximately $400M.
Strategies, information, and insights developed and delivered under the direction of this position will impact decisions regarding business lines, dealer programs and pricing, and competitive position in the insurance and reinsurance marketplace. Impacts the growth/direction of the Insurance business by combining analytical discipline and insurance industry knowledge with the ability to effectively lead/ persuade/ influence across functional and organizational lines.
What youll be doing
Provides strong financial leadership for the entire insurance business unit by ensuring financial plans and forecasts incorporate accurate and appropriate business and financial data, strategic business plans, market assumptions, business trends, risks, and opportunities.
The role serves a key leader in monitoring business performance, communicating issues and business opportunities to Line of Business (LOB) leaders and senior management. The role plays an integral part in product analysis, planning, financial and business strategy, risk analysis, and performance measurement.
The role serves as the primary leader in assessing insurance risk assumed on TFS balance sheet and advises senior leadership on risk management strategies. The person in the role presents monthly update and insights on profit and risk performance to management committee at monthly Asset Liability Committee and quarterly Business Performance Measurement (BPM) review meetings.
As the head of pricing, underwriting, and finance, serves as head of finance in representing TFS interest while negotiating and structuring pricing and incentive deals with CFOs and C level executives from large national dealer groups (e.g., AutoNation, Lithia, Penske, etc.).
The role serves as a thought leader in defining an analytics vision for multiple product lines, identifying the strategic needs of the business, analyzing business strategies, as well as translating them into potential effects on performance
The role is responsible for managing and attesting to TFS pricing and revenue recognition compliance.
Accountable for state by state compliance with approved pricing structures. Also responsible for managing department of insurance underwriting compliance audits
Accountable for compliance with revenue recognition process. Entails maintenance of algorithms used to update over 600 earning curves that serve as the foundation for the revenue recognition process
Impacts the companys ability to meet financial and regulatory compliance requirements through the use of models developed for revenue and expense recognition and loss reserve setting. The compliance requirements include US GAAP, SEC reporting, external audit and Sarbanes-Oxley.
In the course of fulfilling the roles responsibilities, the Director, Insurance Planning, Pricing & Performance Measurement must collaborate with and influence the five National Managers in the Product Group who have operational responsibility for the insurance business as well as the Group Manager of Insurance Products and the VP of Products. Additionally, the role must influence and collaborate with the National Manager-Insurance Controller to maintain revenue recognition compliance.
What you bring
15 years of progressively responsible leadership and/or technical experience in finance, analytics or risk management with an emphasis on pricing/ratemaking for multi-year exposures in the insurance industry.
Bachelors degree in Finance, Economics, Statistics or related field.
Strong analytics relationship-building skills and the ability to manage a team of senior analytics thought leaders with skills that will enable Finance to become a key analytics and insights partner.
Proven acumen in applying quantitative analysis to define business strategies and solve business challenges. Including the ability to assess reasonableness of data, identify spurious or overfit model relationships, identify relevant performance metrics, etc.
Proven management and leadership ability. Demonstrated ability to build and direct a high performing team by instilling a culture of performance accountability and coaching and development of team members.
Combination of financial analysis, planning, statistics, or modeling expertise. Actuarial experience highly desired.
Aptitude to conceptualize, develop strategy and execute to achieve long range and high-level objectives that impact company performance
Exposure to insurance and financial services industries desired.
Excellent communication, presentation and change management skills.
Statistical Analysis understanding of advanced statistical concepts such as multivariate regression analysis, clustering, generalized linear models and other non-linear modeling.
Knowledge of insurance underwriting and regulations.
Ratemaking and/or reserving experience is required.
Actuarial knowledge-strong understanding of actuarial concepts such as ratemaking, reserving, rate filing justification, claim development, trend analysis, credibility analysis, etc.
Ability to apply traditional actuarial rate-making standards of practice to pricing new business, coupled with an in-depth understanding of insurance lines, coverage, and product as well as reinsurance structures and terms.
Exposure and experience with complex financial technology and related process, financial modeling and planning/forecasting technology.
Familiarity with data warehouse development and query tools.
Added bonus if you have
Advanced degree in Finance, Economics, Statistics or related field.
Technical expertise in analytics programming (SAS/Python/R) a plus.
What well bring
During your interview process, our team can fill you in on all the details of our industry-leading benefits and career development opportunities. A few highlights include:
A work environment built on teamwork, flexibility and respect
Professional growth and development programs to help advance your career, as well as tuition reimbursement
Vehicle purchase & lease programs
Comprehensive health care and wellness plans for your entire family
Flextime and virtual work options (if applicable)
Toyota 401(k) Savings Plan featuring a company match, as well as an annual retirement contribution from Toyota regardless of whether you contribute
Paid holidays and paid time off
Referral services related to prenatal services, adoption, child care, schools and more
Flexible spending accounts
Relocation assistance (if applicable)
What you should know
Our success begins and ends with our people. We embrace diverse perspectives and value unique human experiences. We are proud to be an equal opportunity employer that celebrates the diversity of the communities where we live and do business.Applicants for our positions are considered without regard to race, ethnicity, national origin, sex, sexual orientation, gender identity or expression, age, disability, religion, military or veteran status, or any other characteristics protected by law.
Have a question or need assistance with your application? Check out the How to Apply section of our careers page on Toyota.com
To save time applying, Toyota does not offer sponsorship of job applicants for employment-based visas or any other work authorization for this position at this time