Manager, Assessments and Guaranty Funds

Employment Type

: Full-Time


: Non-Executive Management

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Job Summary:

* Manage the Assessment and Guaranty Fund Unit ensuring accurate and timely processing of payments, deposits, and reporting relating to surcharges, assessments, and Iron Mountain invoices for Chubb USA Companies. Confirm and maintain all controls to preserve the proper segregation of duties.
* Also responsible for Loss Base Assessments budgeting and forecasting, to include monthly and quarterly variance analysis and reporting.
* Manage a staff of 3 team members, providing guidance, training and support for success in their roles.


* This position reports to the Deputy Director of the Assessment Unit and requires significant interaction with other operational/financial areas: statistical and unit stat reporting; Accounts Payable, Treasury; compliance, legal, and with external assessing authorities.
* Responsible for processing payments and refunds of over $300 million a year to state agencies, bureaus, and Iron Mountain.
* Manage the planning, forecasting, variance analysis for Loss Based Assessments.
* Provide training, guidance, and support to staff team members.


* Ensure payments and other related filings for all companies are filed completely, accurately and timely and are properly allocated. Develop and maintain tools to ensure that payments can be allocated, tracked and reported on.
* Ensure that Loss assessment plans are adequate and allocated properly among business groups. Ensure that variance reports of actuals to plan are prepared monthly and quarterly, and questions arising from Business areas are responded to promptly.
* Review and understand statutes and reporting guidelines to validate proper completion of report and payment requests. Ensure that staff also has a proper understanding of all guidelines and procedures related to processing payments and reports.
* Ensure that basis of assessments are correct and verified with Chubb records and that staff understand how to validate as well. Ensure proper allocation of such expenses to various divisional areas according to established procedures.
* Ensure that all payments related to fines and penalties paid on behalf of the assessment unit and unit statistical reporting are approved and processed timely; ensure log is kept up to date for monitoring of fines.
* Manage any correspondence with various regulatory and tax authorities including: dispute resolution, clarification of surcharge/assessment matters, preparation and coordination of appropriate supporting documentation, as well and review and approval of audits by assessing authorities.
* Assist with special projects that may arise, such as audits or reconciliations preparing supporting documentation, ad-hoc report preparation, and surcharge analysis as needed.
* Manage staff to enhance their growth and development within the unit and the organization.
* Ensure procedures are kept up to date.


* A minimum of 5 years of experience handling assessment and guaranty fund payments for an insurance company.
* MBA preferred, or Bachelor's degree or equivalent experience in business, finance, accounting or MIS.
* Excellent personal computer skills, specifically Microsoft Office: Access, Excel and Word
* Ability to work effectively in a deadline oriented environment on multiple tasks.
* Capable of interpreting and comprehending statutes and guidelines issued by various states and bureaus.
* Excellent interpersonal and communication (verbal and written) skills.
* Excellent organizational, analytical and problem solving skills.
* Ability to work independently and to identify priorities and schedule tasks appropriately.
* Ability to work effectively with internal and external departments/organizations.


* Experience with PeopleSoft, data stores, such as AIR, and Tort, ability to reconcile data to financial statements, and an understanding of our internal data structures (e.g. company, MCC, etc.),
* Knowledge of mainframe applications such as EZTrieve, TSO, PeopleSoft and COGNOS
* Knowledge of state and local assessment/reporting preparation
* Experience with training and developing other staff members.
* MBA, CPA, or CPCU preferable.

Chubb offers a competitive compensation package and comprehensive benefits package including life, health and dental, vision, a generous retirement savings plan, disability coverage, stock purchase plan, flexible spending accounts, tuition reimbursement, and business casual dress. At Chubb, we are committed to equal employment opportunity and compliance with all laws and regulations pertaining to it. Our policy is to provide employment, training, compensation, promotion, and other conditions or opportunities of employment, without regard to race, color, religion, age, sex, sexual orientation, transgender, national origin, disability, genetic information, veteran, or marital status, or any other characteristic protected by law.

Chubb strives to offer a diverse and inclusive and rewarding work environment. Teamwork and mutual respect are central to how Chubb operates and we believe the best solutions draw upon diverse perspectives, experiences and skills. We operate in such a way where everyone, regardless of their singular background has the opportunity to contribute to our collective success.

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