Director, Financial Operations

Overview

This role is responsible for financial operations for loss funds totaling more than $1B across the U.S. and UK/Lloyd's markets. Reporting to the VP, Claims Operations, the position serves as the senior-most operational leadership role for the loss fund function.

Key focus areas include setting strategy, designing and maintaining the control environment, owning governance and compliance outcomes, and ensuring client funds are accurately handled, compliant with applicable requirements, and trusted.

The role leads two pillars:

• Fund Operations & Reconciliation (managed by a Manager)
• Governance (Risk & Compliance Governance)

The function sits within Operations, requiring fluent communication across finance and claims operations to maintain operational and client outcomes.

Responsibilities

Function Leadership & Strategy

• Own the loss fund financial operations function end-to-end across the U.S. and Lloyd's markets for multi-line business and all lines of business, covering $1B+ AUM.
• Lead two pillars:
  • Directly manage the Manager responsible for Fund Operations & Reconciliation.
  • Lead the Risk & Compliance Governance pillar.
• Set the operating model, staffing plan, and performance standards for the growing function.
• Act as the primary financial escalation point for client disputes.

Controls & Governance

• Design, document, and maintain the internal controls framework, including:
  • Dual authorization policy
  • Segregation-of-duties (SOD) matrix
  • Monthly sign-off protocol
  • Regulatory filing calendar
• Set and enforce authorization thresholds, and serve as a required approver for routine and large or unusual fund movements.
• Own the monthly consolidated reconciliation package and sign off by the defined deadline.
• Ensure exceptions are escalated immediately rather than held to month-end.

Banking, Treasury & Payments

• Own and govern all loss fund banking and partner relationships.
• Maintain oversight of liquidity and funding adequacy across all client programs.
• Oversee U.S. trust account management and Lloyd's Premium Trust Fund (PTF) compliance.

Regulatory & Compliance

• Own escheatment/unclaimed property obligations and 1099/W-9 vendor tax compliance through the Governance pillar.
• Ensure audit readiness and serve as the senior point of accountability for internal and external audits.
• Ensure compliance with:
  • State DOI regulations across all U.S. jurisdictions
  • Lloyd's/FCA requirements, including trust deeds, reporting obligations, and bordereaux

Technology & Continuous Improvement

• Own technology recommendations for the function.
• Partner with Engineering & Product to build improved internal and external client-facing products that enhance user experience.
• Collaborate with Data to improve team reconciliation and reporting efficiency and to scale the function as customer and program counts grow.

Requirements

• 8+ years in financial operations, treasury, or loss fund management, preferably within a TPA, carrier, or insurtech.
• 3+ years leading leaders (managing managers or senior team leads), ideally across multiple time zones/continents.
• Demonstrated ownership of a financial controls environment, including:
  • Segregation of duties
  • Authorization frameworks
  • Reconciliation sign-off
  • Audit support
• Deep knowledge of loss fund mechanics, including:
  • U.S. trust accounts
  • Lloyd's Premium Trust Fund / delegated authority structures
• Strong command of GAAP accounting practices, U.S. state DOI regulations related to loss funds, and the UK Financial Conduct Authority framework.
• Experience owning banking relationships and managing wire/EFT and payment-partner operations.
• Proven ability to operate as a credible financial counterpart to senior leadership and cross-functional partners across product/engineering and data.
• Exceptional communication skills, including the ability to convey complex financial and control information clearly to non-financial and executive stakeholders.
• Advanced skills in Excel and business intelligence tools such as Looker or Tableau (SQL), plus experience with enterprise tooling such as the Microsoft 365 Suite.
• Experience with claims management systems, particularly Snapsheet, is a plus (not mandatory).

Preferred Qualifications

• Experience in loss fund management and governance in an environment with U.S. and Lloyd's regulatory reporting requirements.

Compensation & Benefits

• Generous health-insurance package with nationwide coverage, vision, & dental
• 401(k) retirement plan with employer matching
• Competitive PTO policy
• Generous family leave policy after 8 months of continuous work
• Work from anywhere to support work-life balance
• Apple laptop, large second monitor, and other quality-of-life equipment
• Technology is provided to make work easier and more effective

Location

• Work from anywhere (remote)