President MGA
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Job Location:
Orlando, FL - USA
Monthly Salary:
Not Disclosed
Posted on:
14 days ago
Vacancies:
1 Vacancy
Job Summary
Job Description
President - Managing General Agency (MGA)
Job Summary
Seeking a dynamic and experienced professional to take on the role of President for a newly established Managing General Agency (MGA) specializing in the Homeowner and Flood Insurance markets. This is a unique opportunity for a motivated individual to lead the development and growth of a well-funded organization from the ground up. The ideal candidate will have a proven track record in MGA operations a deep understanding of the insurance industry and the ability to drive the company towards long-term success. This role offers the opportunity to earn equity in the company fostering a long-term commitment to its growth and success.
Compensation Package
- Competitive salary commensurate with experience.
- Equity participation in the company offering a stake in its long-term success.
- Comprehensive benefits package.
- Opportunity to work with a team of experienced professionals including external legal counsel and a fractional CFO.
Responsibilities
The President will be responsible for establishing and managing the operational financial and compliance infrastructure of the MGA. Key responsibilities include:
- Set up and manage core financial systems including payroll tax compliance bookkeeping and financial tracking.
- Establish and maintain compliant trust/fiduciary bank accounts for premium funds.
- Implement corporate expense and card management systems.
- Oversee monthly financial reconciliations and carrier remittance processes.
- Coordinate with legal counsel to secure necessary MGA and agency state licenses.
- Establish compliance procedures including Anti-Money Laundering (AML) policies and premium handling guidelines.
- Manage carrier reporting audit protocols and affiliate agent licensing.
- Maintain accurate investor records and ensure alignment with executed agreements.
- Manage equity and corporate structure records.
- Prepare and distribute shareholder communications.
- Develop and secure carrier approval for underwriting guidelines policy forms and rating structures.
- Configure and test pricing rating logic and underwriting rules within the MGA operating system.
- Evaluate and implement an MGA operating platform and other core communication tools.
- Establish data security and privacy policies.
- Recruit and onboard key operational roles including underwriting accounting and customer service staff.
- Develop an employee handbook and establish role definitions and process documentation.
- Obtain and manage Errors & Omissions (E&O) and Cyber Liability insurance coverage.
- Oversee the development and launch of the company website.
- Provide regular progress updates and maintain a master tracking document for all active workstreams.
Qualifications/Requirements
- Proven experience in establishing and managing a Managing General Agency (MGA) with a focus on Homeowner and Flood Insurance markets.
- Strong operational financial and compliance management skills.
- Demonstrated ability to develop underwriting guidelines policy forms and rating structures.
- Experience with MGA operating platforms and related technology systems.
- Knowledge of licensing compliance and regulatory requirements for MGAs.
- Exceptional leadership and team development skills.
- Strong communication and organizational abilities.
- A commitment to long-term growth and success with a willingness to invest in the companys future.
Disclaimer: Please note that this job description may not cover all duties responsibilities or aspects of the role and it is subject to modification at the employers discretion.
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Required Experience:
Chief
Key Skills
- Fiscal Management
- Portfolio Management
- Fundraising
- Financial Acumen
- Management Experience
- Profit & Loss
- Banking
- Senior Leadership
- Roofing
- Strategic Planning
- Economic Development
- Leadership Experience
About Company
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