Chief Finance Officer - 5Star Life Insurance
Apply NowCompany: Armed Forces Benefit Association / 5Star Life Insurance Comp
Location: Alexandria, VA 22304
Description:
About Armed Forces Benefit Association (AFBA) and 5Star Life
In 1947, AFBA emerged from the basement of the Pentagon to solve a critical need in support of the military. More than 75 years later, our commitment to those who serve and to solving their unique problems remains core to everything we do. Founded to provide military members with a death benefit no one else would, we continue to embrace our mission and deliver benefits tailored to the real-life needs of all who serve today, including active duty, National Guard, and first responders. Providing protection to those who go in harm's way, we ensure survivor and other benefits are available to all who serve, defend, and protect our great nation, no matter what. 5Star Life Insurance Company was founded in service and carry that mission today by committing to serve those who serve, from underwriting benefits for military and first responder families to providing coverage to the employees that keep our communities running. Our commitment to our communities - rather than the bottom line- drives our business.
We offer a flexible hybrid work environment, allowing you to enjoy the best of both worlds with 3 days in the office and up to 2 days working remotely each week. This position is in Alexandria, VA
About the role
Join 5Star Life Insurance as the Chief Financial Officer (CFO), where you'll lead and manage all aspects of our financial reporting and operations. Reporting directly to the President and participating as a member of the Board of Directors, you'll oversee financial systems, compliance, revenue management, cash flow, and financial reporting. This role involves strategic planning, risk management, and external relations, ensuring our financial health and growth.
Key Responsibilities:
Qualifications:
Benefits:
At 5Star we believe in taking care of our employees both professionally and personally. We offer a comprehensive benefits package designed to support your health, well-being, and career growth. Our benefits include:
Join us to lead a dynamic team and contribute to 5Star's financial success and strategic growth.
Qualified people of all races, ethnicities, ages, sex, genders, sexual orientations, national origins, gender identities, marital status, religions, veterans' statuses, disabilities, and any other protected classes are strongly encouraged to apply. As an equal opportunity workplace, we are committed to creating an inclusive environment for all employees. AFBA and 5Star Life Insurance Company endeavors to make reasonable accommodations to the known physical or mental limitations of qualified applicants with a disability unless the accommodation would impose an undue hardship on the operation of our business. If an applicant believes they require such assistance to complete the application or to participate in an interview, or has any questions or concerns, they should contact Human Resources (hr@afba.com). EEO is the Law (Link to external DOL site). AFBA and 5Star Life Insurance Company is an Equal Opportunity Employer and an E-Verify Employer.
In 1947, AFBA emerged from the basement of the Pentagon to solve a critical need in support of the military. More than 75 years later, our commitment to those who serve and to solving their unique problems remains core to everything we do. Founded to provide military members with a death benefit no one else would, we continue to embrace our mission and deliver benefits tailored to the real-life needs of all who serve today, including active duty, National Guard, and first responders. Providing protection to those who go in harm's way, we ensure survivor and other benefits are available to all who serve, defend, and protect our great nation, no matter what. 5Star Life Insurance Company was founded in service and carry that mission today by committing to serve those who serve, from underwriting benefits for military and first responder families to providing coverage to the employees that keep our communities running. Our commitment to our communities - rather than the bottom line- drives our business.
We offer a flexible hybrid work environment, allowing you to enjoy the best of both worlds with 3 days in the office and up to 2 days working remotely each week. This position is in Alexandria, VA
About the role
Join 5Star Life Insurance as the Chief Financial Officer (CFO), where you'll lead and manage all aspects of our financial reporting and operations. Reporting directly to the President and participating as a member of the Board of Directors, you'll oversee financial systems, compliance, revenue management, cash flow, and financial reporting. This role involves strategic planning, risk management, and external relations, ensuring our financial health and growth.
Key Responsibilities:
- Lead and manage the Accounting and Finance Team, mentoring team members to enhance their industry knowledge and analytical skills.
- Oversee financial systems to ensure accurate transaction recording and compliance with standards and regulations.
- Manage revenue accounting and payments to vendors and partners, ensuring timely and accurate processing.
- Monitor cash flow and maintain liquidity, including managing cash and custody accounts.
- Produce financial reports for management and the Board, tracking financial progress and guiding business decisions.
- Develop and manage the annual budget, including profitability analysis and actuarial assumptions.
- Monitor financial performance, identifying opportunities for improvement and areas of concern.
- Participate in strategic planning and financial projections, presenting changes to the Investment Committee.
- Oversee the Company Enterprise Risk Management program, including reviewing the risk assessment matrix and updating the Risk Management Policy.
- Represent the Company in interactions with state regulators, ratings agencies, industry groups, and business partners.
- Regularly meet with worksite brokers and enrollment partners in conjunction with the worksite sales team.
- Present financial data to the Board of Directors, A.M. Best Company, and other stakeholders.
- Coordinate annual external audit reviews and manage contract and treaty reviews, including coordination with legal counsel.
- Prepare the annual Corporate Business Plan for regulators and auditors.
- Oversee product pricing, profitability testing, and development with actuaries.
- Coordinate state insurance compliance reviews and system development, setup, and testing.
- Monitor state regulations in conjunction with the Compliance Department.
- Manage banking relationships and ensure compliance with debt covenants.
- Oversee reinsurance activities and manage treaties in force.
- Develop intercompany agreements and service rates, including filing with the Nebraska Department of Insurance.
- Liaise with Policyholder Services Departments and set interest crediting rates on cash value-based products.
- Ensure Board of Director meeting agendas include all standard reports, policies, and regulatory required content.
Qualifications:
- Proven leadership and team management skills.
- Strong knowledge of financial systems and compliance.
- Experience in revenue accounting and cash flow management.
- Excellent financial reporting and budgeting skills.
- Strategic planning and performance monitoring experience.
- Strong communication and presentation skills.
- Ability to manage banking and investment relationships.
- Experience with property management and defined benefit plans.
- Risk management and audit support experience.
Benefits:
At 5Star we believe in taking care of our employees both professionally and personally. We offer a comprehensive benefits package designed to support your health, well-being, and career growth. Our benefits include:
- Health insurance (medical, dental, and vision)
- Flexible spending accounts (medical and dependent care)
- 401k plan with generous employer match
- Paid time off
- Paid holidays (12)
- Life insurance
- Short- and long-term disability insurance
- Employee assistance program
- Professional development & tuition reimbursement
- Career growth opportunities
- On-site gym and locker rooms (Alexandria, VA office only)
- Friendly, collaborative culture
Join us to lead a dynamic team and contribute to 5Star's financial success and strategic growth.
Qualified people of all races, ethnicities, ages, sex, genders, sexual orientations, national origins, gender identities, marital status, religions, veterans' statuses, disabilities, and any other protected classes are strongly encouraged to apply. As an equal opportunity workplace, we are committed to creating an inclusive environment for all employees. AFBA and 5Star Life Insurance Company endeavors to make reasonable accommodations to the known physical or mental limitations of qualified applicants with a disability unless the accommodation would impose an undue hardship on the operation of our business. If an applicant believes they require such assistance to complete the application or to participate in an interview, or has any questions or concerns, they should contact Human Resources (hr@afba.com). EEO is the Law (Link to external DOL site). AFBA and 5Star Life Insurance Company is an Equal Opportunity Employer and an E-Verify Employer.