Director, Premium Finance Operations
Who is Cover Whale?
Cover Whale improves road safety by combining the insurance products we sell with our data-driven driver coaching and safety program. Our safety program is proven to save lives while delivering better insurance for our drivers. We were recently acknowledged in Forbes as one of America's Best Startup Employers 2023 (forbes.com).
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The Role
The Director of Premium Finance Operations is responsible for managing Cover Whale’s preferred premium finance partners with a focus on operational efficiency and growth. This role prioritizes streamlining workflows to align with business objectives while ensuring close oversight of existing partners to minimize risk and maintain optimal performance.Strong leadership and deep knowledge of financial operations are essential to implement stringent operational standards and service-level agreements. Additionally, this role will identify and research opportunities for growth in premium finance, exploring potential new partnerships to drive the company forward.
Responsibilities:
- Establish and enforce clear operational standards and service level agreements (SLAs) with premium finance partners to ensure efficiency and minimize risks.
- Implement and drive the development of standardized reporting tools that provide a clear, comprehensive overview of premium finance operations and financial health.
- Develop a deep mastery of premium finance workflows and accounting, with a strong understanding of their impact on agents, policyholders, and carrier partners to optimize operational success.
- Ensure the consistent use of reporting tools to monitor the overall health and performance of premium finance operations, identifying trends and areas for improvement.
- Collaborate closely with product, engineering, and data teams to ensure that technology and data needs are met, optimizing tools that support premium finance operations.
- Oversee and manage day-to-day communications and relationships with premium finance partners, acting as the central point of contact and escalating critical issues to senior management as needed.
- Work cross-functionally with various departments within Cover Whale to ensure alignment and coordination on all premium finance initiatives, driving collaboration toward business goals.
- Proactively seek and evaluate new premium finance partners, ensuring alignment with Cover Whale’s long-term growth and expansion goals.
- Extensive experience in Premium Finance operations and financials within the property and casualty insurance industry, with a focus on optimizing workflows and driving growth.
- Strong negotiation and vendor management skills, demonstrated by a track record of managing complex partner relationships and identifying opportunities for new partnerships.
- Proven expertise in developing and implementing high-level operational standards and SLAs, ensuring efficiency and minimizing risk.
- High proficiency in creating, analyzing, and acting on complex financial and operational reports to drive strategic decisions and optimize performance.
- Exceptional leadership and communication skills, with the ability to influence diverse stakeholders and manage cross-functional teams effectively.
- Health Care Plan (Medical, Dental & Vision)
- Retirement Plan (401k, IRA)-match
- Life Insurance (Basic, Voluntary & AD&D)
- Paid Time Off (Vacation, Sick & Public Holidays)
- Paid Family Leave (Maternity, Paternity)
- Tuition Assistance
- Professional Training & Development
Compensation:
The base annual salary range for this role is $130,000-$170,000 depending on location of the candidate) and will be determined on an individualized basis and is only part of the total compensation package, which also includes a discretionary bonus, equity, and other Cover Whale-sponsored benefits.
Cover Whale works to maintain the best possible environment for our employees, where individuals can learn and grow with the company. We strive to provide a collaborative environment where each person feels encouraged to contribute to their processes, decisions, planning, and culture.
We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law.