Director of Insurance Finance

The Director of Insurance Finance at First Mid leads the agency's financial strategy, planning, reporting, and operational finance functions from an onsite leadership role in Champaign, Illinois. The position offers a salary range of USD 96,500 to 137,800 per year and requires a Bachelor’s degree with a minimum of three years of related experience in finance leadership.

Responsibilities

• Develop and implement the agency's financial strategy aligned with organizational goals.
• Report to the CEO or designee and build financial models to support business decisions and strategic initiatives.
• Provide financial analysis and recommendations to back growth initiatives, investments, acquisitions, and operational improvements.
• Lead long-range financial planning and scenario modeling to anticipate outcomes.
• Direct the annual budgeting process and periodic forecasting activities.
• Analyze agency performance, profitability, and key financial metrics; monitor variances and identify opportunities to improve financial performance.
• Oversee all accounting operations, including general ledger, accounts payable, accounts receivable, payroll, and financial close processes; ensure timely and accurate financial reporting.
• Maintain compliance with GAAP and applicable regulatory requirements; coordinate annual audits, tax filings, and external financial reviews.
• Monitor and analyze commission revenue, contingent income, fee income, and producer compensation programs; track carrier receivables, agency bill operations, and premium trust accounts as applicable.
• Evaluate profitability by department, producer, line of business, and office location.
• Develop and maintain agency performance dashboards and key operating metrics; establish internal controls and financial safeguards.
• Lead, mentor, and develop accounting and finance personnel; establish performance objectives and foster accountability and continuous improvement.
• Foster collaboration across departments and offices; ensure compliance with financial, tax, licensing, and regulatory requirements.
• Develop and maintain internal controls and financial policies; support enterprise risk management initiatives and business continuity planning.
• Identify opportunities to enhance financial systems, reporting capabilities, and operational efficiencies; lead implementation and optimization of accounting and agency management systems.
• Promote data-driven decision making across the organization.
• Participate in acquisition evaluations, due diligence, valuation analyses, and integration activities.

Requirements

• Bachelor’s degree in Accounting, Finance, Business Administration, or a related field is required.
• Professional designation such as CPA, CMA, MBA, or equivalent is preferred.
• Seven or more years of progressive finance and accounting leadership experience.
• Three or more years in a senior financial leadership role.
• Experience within the insurance industry, an insurance agency or brokerage, or financial services environment is strongly preferred.
• Proven experience with budgeting, forecasting, financial modeling, and strategic planning.
• Experience managing audits, tax compliance, and financial reporting.

Technologies

• Microsoft Excel
• Applied Epic
• Vertafore AMS360

Benefits

• Competitive health, dental, and vision coverage with HSA match
• 401(k) with employer match plus Employee Stock Purchase Plan
• Generous PTO, paid holidays, and parental leave
• Tuition reimbursement and performance-based bonuses
• Visit our Total Rewards page to see our full list of benefits

Position Summary

The Director of Insurance Finance leads the agency's financial strategy, planning, reporting, and operational finance functions. This role provides executive leadership in budgeting, forecasting, cash flow management, financial analysis, and accounting oversight, informing strategic decisions. The position partners with agency leadership to drive profitable growth, improve operational efficiency, ensure regulatory compliance, and support mergers.