The Government Employees Insurance Company (GEICO) is a private American auto insurance company with headquarters in Chevy Chase, Maryland. GEICO is a wholly owned subsidiary of Berkshire Hathaway and is the third largest auto insurer in the United States. In 2023, GEICO earned premiums worth over $40 billion U.S. dollars.

GEICO is searching for a highly motivated leader to join our Treasury team! The Director for Payments is a key leadership position and will report to the Treasurer. This is a great opportunity for someone looking to add immediate value and impact to a fast-changing company and help evolve the Treasury function. 

The Director will be responsible for various aspects of payment operations including but not limited to understanding our various payment acceptance formats and overall cost of payments, working with card processors and networks, card dispute management and resolution, bad debt analysis, in addition to supporting broader corporate finance strategies. This also includes partnering on changes to the billing systems, working with Service / Operations teams to develop financially sound policies that impact policyholder retention, and driving automation projects.

The successful candidate must be able to work in a fast-paced environment in a role with high visibility and accountability, and work with multiple partners (internal and external). Additionally, this candidate is excited about an opportunity to revamp and improve existing processes, identify, and execute on new solutions, is self-driven and able to prioritize multiple concurrent, complex tasks while maintaining a strong attention to detail.  Strong written and oral communication skills and interpersonal skills are critical for success. as this role frequently engages with partners across the Finance team, GEICO, as well as services providers.

Key Responsibilities:

• The Director of Payments is responsible for contributing to the development and execution of department strategy, and the management of day-to-day operations.

• Lead efforts to advance process efficiencies across the end-to-end value chain (i.e., invoicing, payment processing, reporting, and analysis).

• Provide strategic guidance and leadership to the team and working collaboratively with business units including but not limited to Finance, Tech, Product, Operations, and Service.

• Partner with systems and technology teams to identify areas for improvement, document requirements, and help implement changes.

• Close coordination with Service / Operations to establish and update processes and procedures on a regular basis, balancing customer service with risk and control requirements.

• Oversee bad debt reporting and liaising with partners on key drivers to manage the risk.

• Cultivate, develop, and manage internal business relationships across the organization; establish a reputation as a reliable subject matter expert and trusted advisor.

• Mentor, coach and develop team, providing both strategic oversight and day to day guidance to drive exceptional results; demonstrate professionalism and strategic thought.

• Aware of industry trends and the potential impacts to GEICO, anticipate change and position the treasury operations function for optimal execution.

Qualifications:

• Minimum 10-15 years of relevant experience in payments or treasury operations and/or corporate finance / banking background.

• Knowledge of payments industry. Experience with large-scale payments industry (pay-in, payout and settlements, payment processors, and multiple payment methods) and managing vendor relationships.

• Deep understanding of order to cash processes, including billing, revenue recognition, collections, dispute management, sales adjustments, and returns.

• Ability to resolve complex and/or unusual business issues by applying analytical thought and judgement.

• Experience working with Technology and Product teams in building and executing on a roadmap.

• Ability to provide strategic guidance and strong leadership to team and other relevant business units. Prior management experience running a team of 15 or more.

• High level of integrity to maintain confidentiality of sensitive and proprietary information.

• Ability to gain the respect and trust of the company's senior management, constituents, team members and work with all levels of the organization.

• Strong oral and written communication skills including strong presentation skills.

• Bachelor’s degree in finance, economics, or accounting with strong preference for additional graduate degrees or certifications (Masters, MBA, CTP, etc.)

• Must be eligible to work in the United States without need for work visa or residency sponsorship.

Location:

• This position is a hybrid role, on-site 3 days per week at one of the following office locations: New York, NY; Chevy Chase, MD; Chicago, IL; Macon, GA.

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Annual Salary

$143,000.00 - $224,000.00

The above annual salary range is a general guideline. Multiple factors are taken into consideration to arrive at the final hourly rate/ annual salary to be offered to the selected candidate. Factors include, but are not limited to, the scope and responsibilities of the role, the selected candidate’s work experience, education and training, the work location as well as market and business considerations.

 

At this time, GEICO will not sponsor a new applicant for employment authorization for this position.

 

Benefits:

As an Associate, you’ll enjoy our Total Rewards Program* to help secure your financial future and preserve your health and well-being, including:

• Premier Medical, Dental and Vision Insurance with no waiting period**
• Paid Vacation, Sick and Parental Leave
• 401(k) Plan
• Tuition Reimbursement
• Paid Training and Licensures

*Benefits may be different by location.  Benefit eligibility requirements vary and may include length of service.

**Coverage begins on the date of hire. Must enroll in New Hire Benefits within 30 days of the date of hire for coverage to take effect.

The equal employment opportunity policy of the GEICO Companies provides for a fair and equal employment opportunity for all associates and job applicants regardless of race, color, religious creed, national origin, ancestry, age, gender, pregnancy, sexual orientation, gender identity, marital status, familial status, disability or genetic information, in compliance with applicable federal, state and local law. GEICO hires and promotes individuals solely on the basis of their qualifications for the job to be filled.

GEICO reasonably accommodates qualified individuals with disabilities to enable them to receive equal employment opportunity and/or perform the essential functions of the job, unless the accommodation would impose an undue hardship to the Company. This applies to all applicants and associates. GEICO also provides a work environment in which each associate is able to be productive and work to the best of their ability. We do not condone or tolerate an atmosphere of intimidation or harassment. We expect and require the cooperation of all associates in maintaining an atmosphere free from discrimination and harassment with mutual respect by and for all associates and applicants.