Captive Insurance Account Manager

KeyState is seeking an experienced Captive Account Manager to manage a portfolio of single-parent and cell captives. This individual will serve as the primary relationship manager and strategic advisor to captive owners and their executive teams. The role requires technical expertise, financial acumen, regulatory awareness, and the ability to confidently engage with boards, auditors, actuaries, fronting carriers, and regulators.

The ideal candidate thrives in a consultative environment and understands how captives integrate into broader enterprise risk and financial strategy.

Duties and Responsibilities

Strategic Client Leadership

• Serve as primary relationship manager for assigned captive clients.
• Act as trusted advisor to CFOs, Risk Managers, and Executive Leadership.
• Coordinate and lead Board of Director meetings, including preparation of financial and operational materials.
• Provide guidance on capital optimization, risk retention strategy, and program expansion.

Financial & Regulatory Responsibilities

• Oversee and/prepare monthly, quarterly and annual financial reporting.
• Coordinate with actuaries, auditors, and tax advisors.
• Monitor capital and surplus requirements.
• Ensure compliance with domicile regulatory requirements. KeyState works across leading U.S. domiciles, including Vermont, Delaware, Tennessee, South Carolina, and the District of Columbia.
• Manage regulatory filings and direct communications with regulators.

Program Management & Insurance Structure

• Coordinate fronting carrier and reinsurance relationships.
• Monitor underwriting performance and loss development.
• Oversee premium allocation, collateral, and reinsurance structures.
• Collaborate with TPAs and claims administrators.
• Assist in feasibility analyses and new captive formations.

Practice Development Support

• Identify opportunities to expand captive utilization.
• Support proposal development and client presentations.
• Contribute to thought leadership and industry engagement initiatives.

Minimum Qualifications

• Bachelor’s degree in Finance, Risk Management, Accounting, or related field.
• Minimum 5 years of captive insurance or risk financing experience.
• Strong understanding of singleparent and cell captive structures.
• Experience presenting to Boards or Executive Committees.
• Strong financial literacy and ability to interpret actuarial and financial statements.
• Familiarity with financial institution risks (lender liability, professional liability, credit risk, etc.) preferred.
• Professional designations such as ACI, CPCU, ARM, or CPA are a plus.

Compensation

KeyState offers a competitive compensation structure designed to reward performance, long-term relationship development, and growth. Compensation includes:

• Competitive base salary.
• Performancebased incentive opportunities.
• Comprehensive benefits including health, dental, vision, and retirement plan.

Total compensation is commensurate with experience, education and qualifications.

Work Environment

This position is based in KeyState’s Vermont Office. At KeyState, we value all employees and job candidates as unique individuals and welcome the variety of experiences they bring to our company. We maintain a strict non-discrimination policy and believe everyone should be treated equally regardless of race, sex, gender identification, sexual orientation, national origin, native language, religion, age, disability, marital status, citizenship, genetic information, pregnancy, or any other characteristic protected by law.

About KeyState

Founded in 1991, KeyState is a rapidly growing, privately held financial services firm specializing in providing tax advantaged investments to community banks. With over $18 billion in assets under management, KeyState has managed investment subsidiaries for community banks for over 35 years. In 2008, KeyState launched its captive management practice that grew to form and managing captives for over 100 companies across the US. In 2019, KeyState launched a renewable energy tax credit investment platform for community banks. KeyState helps community banks source, underwrite, and manage tax credit investments. To date, KeyState has raised and deployed approximately $1 billion in tax credit capital for community banks, financing over 200 renewable energy projects across the United States.