United Fire Group is seeking an Assistant Vice President (AVP) of Internal Controls to play a critical role, responsible for building and leading the company's internal control's function. This AVP will design, implement, and oversee a robust internal control framework, with an initial and primary focus on Sarbanes-Oxley (SOX) and NAIC Model Audit Rule (MAR) compliance. The ideal candidate is a strategic, hands-on leader with a strong background in risk identification, control design, and process optimization within the P&C insurance industry. This individual will be instrumental in fostering a culture of strong governance, risk management, and continuous improvement across the organization.
Essential Duties and Responsibilities:
- Establish the vision, strategy, and roadmap for the Internal Controls department, including defining its mandate, structure, and operational procedures.
- Serve as the subject matter expert on internal controls, providing guidance and education to business partners and senior management.
- Develop and maintain comprehensive, risk-based SOX compliance program that meets regulatory requirements and provides assurance over the company’s internal controls over financial reporting (ICFR).
- Lead walkthroughs of key business processes and collaborate with process owners across the company to design effective, preventative, and efficient controls.
- Conduct comprehensive risk assessments to identify, evaluate, and prioritize financial reporting and operational risks inherent to the P&C insurance business.
- Evaluate and mature the company's control environment by providing strategic risk guidance and designing mitigating controls.
- Establish and monitor key risk and performance indicators to provide early identification of risk trends and potential control deficiencies.
- Embed themselves in key company initiatives to provide risk and control advisory support for system upgrades and implementations.
- Lead the evaluation of control deficiencies to understand root cause and impact and work with process owners to develop effective remediation plans.
- Champion a continuous improvement mindset, challenging existing processes and collaborating with cross-functional teams to identify and implement efficiencies.
- Evaluate controls and processes for opportunities to leverage automation and new technologies, reducing manual effort and improving control effectiveness.
- Partner with management to provide value-added recommendations that address identified control weaknesses in a sustainable and effective manner.
- Liaise directly with the company’s internal and external auditors, serving as the main point of contact for all SOX and internal control matters.
- Report regularly to senior leadership and the Audit Committee on the status of the internal control environment, highlighting key risks and progress on remediation.
- Collaborate with other governance and risk functions (e.g., Enterprise Risk Management, Compliance, Internal Audit) to ensure an integrated and holistic approach to risk management.
Job Specifications:
Education:
- Bachelor’s degree in accounting, Finance or a related field preferred.
Certifications/Designations:
- Certified Internal Auditor (CIA) or Certified Public Accountant (CPA) is strongly preferred.
Experience:
- 12+ years of experience in internal audit, internal controls, or public accounting, preferably within the insurance or financial services industry preferred.
- Proven experience designing and implementing a SOX compliance program, including leading risk assessments, control design and documentation.
- Demonstrated experience in a public company environment, with a strong understanding of SEC and PCAOB regulations related to ICFR.
- Experience building and managing a team, including attracting, hiring, and developing talent.
Knowledge, skills & abilities:
- Deep knowledge of the Sarbanes-Oxley Act, COSO framework, and US GAAP.
- Exceptional analytical skills with the ability to identify, analyze, and interpret complex business processes and risks.
- Proven ability to drive process improvements and implement automated control solutions.
- Excellent communication skills, both written and oral, with the ability to effectively present complex information to all levels of the organization.
- Strong leadership, interpersonal, and collaborative skills to influence change without direct authority.
Pay Transparency Statement:
UFG Insurance is committed to fair and equitable compensation practices. The base salary range for this position is $180,000 - $220,000 annually, which represents the typical range for new hires in this role. Individual pay within this range will be determined based on a variety of factors, including relevant experience, education, certifications, skills, internal equity, geography and market data.
In addition to base salary, UFG Insurance offers a comprehensive total rewards package that includes:
- Annual incentive compensation
- Medical, dental, vision & life insurance
- Accident, critical Illness & short-term disability insurance
- Retirement plans with employer contributions
- Generous time-off program
- Programs designed to support the employee well-being and financial security.
This pay range disclosure is provided in accordance with applicable state and local pay transparency laws.