Sr. Director Financial Operations (Hybrid)

AMAI (AMA Insurance) offers life, health, and disability insurance at affordable and exclusive rates to help physicians achieve a healthy and secure financial future. As part of the American Medical Association (AMA), a nonprofit and the nation’s largest professional association of physicians, AMAI is dedicated to promoting the art and science of medicine and the betterment of public health. We foster an inclusive, people-first culture where every employee is empowered to perform at their best and advance meaningful change in health care.

About the role

This hybrid position (3 days per week in the Chicago office) serves as the Primary Officer and key member of the Senior Leadership Team for AMA Insurance Agency, Inc. (AMAI), a subsidiary of the American Medical Association. The role reports directly to the President of AMA Insurance with an indirect reporting relationship to AMA Corporate Finance. Responsibilities include directing AMAI Accounting, Financial Operations, Financial Planning & Analysis, audits (financial and operational), and state tax filings, while ensuring compliance with GAAP, state rules, AMA Corporate Accounting Policies, and Insurance Carrier partner requirements. The position also provides strategic and executive support to the President of AMA Insurance and manages multiple aspects of AMAI’s Insurance Carrier relationships.

Responsibilities

• Financial Operations and Analysis
  • Direct all aspects of AMAI Accounting functions, including Accounts Payable, Carrier Remittances, Accounts Receivable, capital planning, and month/year-end financial close.
  • Lead all accounting, reporting, invoicing, and collections processes for AMAI’s policy administration system, including initial setup and ongoing support.
  • Ensure compliance with GAAP, AMA Corporate Accounting policies, state insurance regulations, and Insurance Carriers’ policies, procedures, timelines, and guidelines.
  • Lead the annual financial audit with Deloitte and serve as the primary contact for AMA Corporate Finance.
  • Direct AMAI Financial Operations, including receipt and posting of over $200M in premiums (comprising over 1 million individual transactions).
  • Manage invoicing and collections for the $5M Med Plus Advantage TPA program.
  • Develop and maintain relationships with Agency Banking Partners and other payment processors; identify and resolve processing issues.
  • Lead, perform, or coordinate Financial Planning & Analysis, forecasting, and budgeting activities for AMAI.
  • Prepare, analyze, and report monthly financial and operational results, identifying trends and changes in the business.
  • Communicate and present financial results to AMAI Leadership and AMA Corporate Finance, including responding to inquiries from the AMA CFO.
  • Provide strategic leadership and analytics for insurance plan financials (e.g., reserves), pricing direction, marketing spend, and other areas as needed.
  • Prepare board-level materials for AMAI decision-making.
  • Partner with the AMA Tax Director on all Agency tax matters, including preparing, reviewing, and filing state taxes for approximately 15–20 states.
• Carrier Relationship
  • Serve in a leadership role in AMAI’s Insurance Carrier relationships, developing and strengthening partnerships and collaboration on formulas and processes.
  • Act as the AMAI lead for all carrier audits (operational, financial, claims, information security, business risk) to ensure compliance with carrier and regulatory standards.
  • Lead AMAI’s response to Insurance Carrier Census, Commission, and State Regulatory reporting.
  • Negotiate with Insurance Carriers on audit findings and reporting as needed.
• AMA Insurance President Support
  • Serve as a signature authority on AMAI checks, annual financial audits, state taxes, Insurance Carrier audits, and other regulatory documents.
  • Provide operational and strategic support to the President of AMA Insurance to enhance organizational effectiveness and efficiency.
  • Act as a strategic thought leader, advising on financial and operational implications of current and future business activities.
  • Consult on staffing needs and review/support/approve alternative compensation plans in coordination with the AMA Compensation team.
  • Lead and direct special projects assigned by the President of AMAI.
• Staff Management
  • Provide leadership, training, and guidance for all professional staff, including setting goals, evaluating performance, and developing skills.
• Perform other responsibilities as assigned.

Requirements

• Bachelor’s degree in Accounting or Finance; CPA or MBA preferred.
• 15+ years of financial reporting experience.
• 10+ years of managerial experience.
• 10+ years of experience in the insurance industry, including knowledge of products, pricing, actuarial reserving, distribution models, and insurance regulations.
• Proficiency in U.S. Generally Accepted Accounting Principles (GAAP) and Financial Accounting Standards Board (FASB) standards.
• Ability to lead a finance team and cross-functional projects.
• Highly analytical mindset with strong problem-solving skills.
• Strong interpersonal skills, with the ability to communicate, manage, and influence at all organizational levels.
• Operational effectiveness, including driving organizational change through process improvement and technology adoption.
• Effective negotiation skills.
• High level of integrity, dependability, and a strong sense of urgency with a results-oriented approach.

Pay

The salary range for this exempt position is $191,434 – $258,539, with actual pay determined by factors such as business considerations, geographical location, and candidate qualifications (skills, education, and experience). Employees are also eligible to participate in an incentive plan.

Benefits

To learn more about the American Medical Association’s benefits offerings, click here.