Insurance Run-Off Acquisition Finance Leader

The mandate

The first combined quarter after acquiring three legacy books produced differences among actuarial reserve files, claims ledgers, reinsurance recoverables, trust collateral and cash payments. Historical commutations and coverage disputes sit outside normal close records. The run-off integration controller resigned after auditors could not trace material movements from transaction assumptions to the new reporting perimeter.

The interim must join Chicago within two weeks and lead for twenty months through reserve integration and four controlled quarters. Search for a permanent legacy-books finance leader begins after two quarter closes and one reinsurance collection cycle reconcile, expected in month twelve. The successor will chair a reserve movement review, disputed-recoverable session and audit close during eight weeks of overlap.

Handover requires each book to have a policy and claim population, actuarial-to-ledger reserve bridge, claims cash control, reinsurance and collateral register, transaction assumption history and accountable close owner. Four quarters and two recovery exercises must meet materiality. The successor inherits coverage and commutation questions, aged recoverables, collateral shortfalls, audit findings and capital sensitivities.

The interim may stop an unsupported reserve journal, require claim-population reconciliation, redirect finance specialists, escalate collection action and commit up to USD 25 million within the approved integration budget. Actuarial opinions, claim settlement, coverage interpretation, commutation, investment strategy and capital decisions stay with authorised functions. Finance owns evidence and reporting, not underlying claim judgment.

Claims handling, actuarial method selection, legal dispute strategy, asset management, new underwriting and acquisitions outside the three books remain out of scope. The seat covers acquired-book controllership, reserve and cash bridges, reinsurance financial control, collateral evidence, audit readiness and succession. It cannot improve reported economics by assuming recoveries unsupported by collection evidence.

Why this seat is open

The failed quarter exposed transaction, actuarial and cash records that did not form one auditable book, followed by controller departure. Claims, actuaries, reinsurers and finance each own different portions of the evidence. Temporary run-off finance authority can establish durable bridges through real reserve and collection cycles.

What you will own

• Reconcile policy and claim populations to reserves, payments, expenses, recoveries and transaction perimeter by acquired book.
• Build actuarial-to-ledger movement bridges separating experience, assumption, discount, foreign exchange, commutation and correction.
• Establish reinsurance recoverable, billing, collection, dispute, ageing, impairment and counterparty evidence controls.
• Reconcile trust, letter-of-credit and other collateral to obligations, custody records, terms and liquidity.
• Run quarter closes and recovery exercises with signed materiality, control, source and unresolved-item records.
• Connect transaction assumptions, reserve development, collection timing and capital sensitivity without issuing actuarial opinion.
• Transfer book dossiers, movement bridges, collection actions, audit evidence and governance calendars through successor-led reviews.

Candidate qualifications

• Held executive finance authority integrating acquired property-and-casualty run-off or other long-tail insurance books.
• Reconciled actuarial reserve data, claims cash and general ledgers across complex historical policy populations.
• Controlled reinsurance recoverables and trust collateral through coverage disputes, commutations, ageing and collection uncertainty.
• Distinguished actuarial, claims, legal, finance, reinsurance and capital decision responsibilities under audit scrutiny.
• Traced transaction assumptions into post-close reserve development, cash reporting and capital sensitivities.
• Handed legacy-book controllership to permanent leadership after observed quarter, collection and external-audit cycles.

Non-negotiables

• Can begin in Chicago within two weeks and travel monthly to acquired books, reinsurers and reserve reviews.
• Will accept exclusive executive accountability and continuous escalation for acquired-book financial control.
• Brings long-tail insurance run-off acquisition integration; ordinary insurance controllership alone is insufficient.
• Must disclose relationships with sellers, reinsurers, brokers, actuaries, auditors and run-off investors.

1. 49 words maximum. Describe an acquired run-off book where reserve movement failed to reconcile to claims cash.
2. 49 words maximum. Which reinsurance evidence determines whether a recorded recovery is financially credible?
3. 49 words maximum. State your Chicago availability and the largest legacy-book integration you directly led.