Director, Strategic Initiatives & Corporate Development
Coaction Specialty Insurance Group
New York, NY
It's fun to work in a company where people truly BELIEVE in what they're doing! We're committed to bringing passion and customer focus to the business.
The Director Strategic Initiatives reports directly to the SVP, Strategic and Corporate Development. Coaction is seeking an experienced senior associate / manager to partner with the SVP, Strategic and Corporate Development in opportunity assessment, strategic planning, and strategic initiative development and delivery – the role will require effective collaboration with leaders across various functions to be successful.
This role is responsible for:
Partnering with the Executive Committee and Senior Management in strategy development, planning, and structuring key organic and inorganic initiatives.
Assessing strategic opportunities (organic and inorganic).
Defining corporate and business vertical-level strategies and strategic objectives.
Building strategic roadmaps to align delivery of specific initiatives across teams and functions.
Developing scorecard metrics that capture progress against and achievement of strategic objectives.
Driving individual, high-priority initiatives to ensure timely delivery against objectives.
Coaction is a specialty property and casualty insurer that designs innovative insurance solutions to rationally manage risk so that customers can improve their businesses and realize value from their insurance purchasing decisions. The Company focuses on select insurance product verticals, deploying capital through differentiated underwriting and claims capabilities with the goal of applying analytic ability with practical reasoning to responsibly provide balanced coverage enabling businesses and communities to build a more ambitious, confident, and sustainable future. Coaction's products are sold through a limited and select group of retail and wholesale distribution partners. Each of Coaction's regulated insurance company subsidiaries is rated "A-" (Excellent) by A.M. Best.
In early 2021, Coaction (then ProSight) announced its acquisition by TowerBrook Capital Partners L.P. and Further Global Capital Management. The acquisition transitioned the Company from a NYSE-listed public company to a private company with private equity ownership. Prior to its IPO, the Company was privately-owned by TPG and Goldman Sachs. The acquisition closed in early Q3 2021 following regulatory approval.
The Company’s acquisition and subsequent rebrand to Coaction represents an exciting evolution in its history. Coupled with a recent recapitalization from existing investors, Coaction is well positioned to attack the U.S. specialty insurance market at a time when rates are undergoing a prolonged once-in-a-decade rate hardening cycle. The company remains focused on pursuing its multi-year value creation plan that includes the expansion of its underwriting lines, the strengthening of its technology platform, and improvement of its existing risk management practices.
What we are looking for:
Experienced senior associate with a minimum of 2 years of investment banking experience or a manager with a minimum of 5 years of experience in a management consulting or a strategic/operational setting with a record of outstanding performance.
Post-graduate degree or certification with a focus on business / finance preferred.
Real and deep interest in operations and sound strategic business sense – the role will include significant work with Senior Management driving delivery of strategic initiatives at Coaction.
Proven ability to analyze, evaluate, and make recommendations on strategic issues to executive- level stakeholders.
Functional skills – General strategy/commercial experience in Property and Casualty Insurance and financial modeling / business case development experience.
Results / outcome orientation.
Collaborative, team-based leadership personality with a high degree of maturity.
An ability to check one’s ego at the door to work with others in a respectful manner and at the same time be incredibly outcome and data driven.
An ability to earn respect in short order.
Coaction is required by New York City law to include the salary range for this role when hiring a New York City resident. Salary range specific to for this role : $150,000-$180,000 + discretionary incentive bonus + benefits depends on various factors including, without limitation, individual and organizational performance. In addition, employees are eligible for standard benefits package including paid time off, medical, dental and retirement.
Equal Opportunity Employer
Coaction is an Equal Employment Opportunity employer. Coaction’s policy is not to discriminate against any applicant or employee based on race, color, religion, national origin, gender, age, sexual orientation, gender identity or expression, marital status, mental or physical disability, and genetic information, or any other basis protected by applicable law. Coaction also prohibits harassment of applicants or employees based on any of these protected categories.