Claims Finance Director (Worcester, MA or REMOTE)

For more than 170 years, The Hanover has been committed to delivering on our promises and being there when it matters the most. We live our values every day, demonstrating we CARE through our values, ESG initiatives and IDE journey.

Our Claims Finance, Analytics and Insights team is currently seeking a Claims Finance Director in our Worcester, MA offices in a hybrid work arrangement or remote work location.  

This is a full time, exempt role.

POSITION OVERVIEW:

The Claims Finance team is well-connected to both the Claims organization and the Corporate Finance team in support of The Hanover. 

This leader and their team will hold responsibility for expense reporting, budget and forecasting, allocation analysis, cost center hierarchy maintenance, accrual management, vendor payment approval and tracking, managing AP spend, calculating and monitoring chargebacks to the claim system, calculating unit costs, etc.

IN THIS ROLE, YOU WILL:

• Lead the annual budgeting process and provide ongoing financial forecasting and analysis to support strategic decision-making to ensure that ALAE, ULAE and indemnity spend are appropriately managed.
• Partner with the strategy team and others in claims to build a portfolio and initiative monitoring process.  This will include CBAs and an effective way to monitor short and long-term measures of initiative success across the portfolio.
• Build an effective staffing model and governance process to ensure that claim operations are right-sized.  Monitor and measure the effectiveness of staffing model adherence and the impact of operational process improvements to ensure workloads appropriately contemplate process changes.    
• Team partners across the finance and internal audit organizations to ensure management controls and compliance efforts are successfully deployed and monitored across claims; identify and mitigate financial risks, ensuring compliance with regulatory requirements and company policies.
• Develop, implement and measure cost control programs to improve profitability and efficiency.
• Oversee applicable financial systems and reporting processes to deliver timely and accurate financial reporting across the organization.
• Responsible for internal management reporting, analysis and planning of business unit results, the accounting closes (statutory and GAAP), and support for external reporting and oversight of business unit internal financial controls.
• Prepare and present reports on vendor performance and cost savings to senior management, utilizing data analysis to make informed recommendations and decisions.
• Analyze results at all levels and in all formats: GAAP, statutory, internal/external management reporting.
• Communicate analysis of results to major customers.
• Produce monthly internal management reporting of results at all levels.
• Provide counsel on financial matters and control accounting procedures and practices to ensure accuracy of unit financial results.
• Working jointly with Corporate Finance & Accounting, support the monthly accounting closes (statutory and GAAP) and provide support for external reporting.
• Provide support to Investor Relations to assist with analysis and preparation for meetings with stock analyst and rating agencies.
• Participate with Business Planning department in the development of business plans and detailed Corporate Operating Plans (COP).
• Assist with analysis of actual vs. plan results.
• Interact with management at all levels of the company on matters of financial and operational performance and strategy.

WHAT YOU NEED TO APPLY: 

• Bachelor’s Degree or equivalent required, MBA or Masters of Science in Accounting or Finance preferred.
• 5+ years of prior management experience and 8+ years of experience in a related field or area of specialization.
• Must be eligible to work in the US without requiring sponsorship now or in the future (ie. US Citizen or Greencard holder).
• Excellent communication and interpersonal skills.
• Ability to analyze data and make informed decisions.
• Ability to work collaboratively with cross-functional teams.

CAREER DEVELOPMENT:

It’s not just a job, it’s a career, and we are here to support you every step of the way. We want you to be successful and fulfilled. Through on-the-job experiences, personalized coaching and our robust learning and development programs, we encourage you – at every level – to grow and develop.

BENEFITS:

We offer comprehensive benefits to help you be healthy, build financial security, and balance work and home life. At The Hanover, you’ll enjoy what you do and have the support you need to succeed.

Benefits include:

• Medical, dental, vision, life, and disability insurance
• 401K with a company match
• Tuition reimbursement
• PTO
• Company paid holidays
• Flexible work arrangements
• Cultural Awareness Day in support of IDE
• On-site medical/wellness center (Worcester only)
• Click here for the full list of Benefits

EEO statement:

The Hanover values diversity in the workplace and among our customers.  The company provides equal opportunity for employment and promotion to all qualified employees and applicants on the basis of experience, training, education, and ability to do the available work without regard to race, religion, color, age, sex/gender, sexual orientation, national origin, gender identity, disability, marital status, veteran status, genetic information, ancestry or any other status protected by law.  

Furthermore, The Hanover Insurance Group is committed to providing an equal opportunity workplace that is free of discrimination and harassment based on national origin, race, color, religion, gender, ancestry, age, sexual orientation, gender identity, disability, marital status, veteran status, genetic information or any other status protected by law.” 

As an equal opportunity employer, Hanover does not discriminate against qualified individuals with disabilities.  Individuals with disabilities who wish to request a reasonable accommodation to participate in the job application or interview process, or to perform essential job functions, should contact us at: HRServices@hanover.com and include the link of the job posting in which you are interested.

Privacy Policy:

To view our privacy policy and online privacy statement, click here.  

Applicants who are California residents: To see the types of information we may collect from applicants and employees and how we use it, please click here.