MPL Career Center

MCIC: President and Chief Executive Officer

Company Background

MCIC Vermont, Inc. (MCIC) is a specialty insurance company that provides insurance coverage and risk management services to academic medical centers and their various affiliated entities, employees and physicians. The principal shareholders/clients of MCIC are Columbia University College of Physicians & Surgeons, The Johns Hopkins Hospital, The Johns Hopkins University, New York Presbyterian Hospital, University of Rochester Medical Center, Weill Cornell Medical College, Yale New Haven Health and Yale University School of Medicine.

MCIC’s primary objective is to provide its members with a long-term, stable and cost-effective source of medical professional and general liability insurance coverage that meets the insurance needs for healthcare delivery and medical education. The company seeks to be the leading medical malpractice (captive) insurer by operating at a “best-in-class” level in all the traditional functional areas of insurance company operations.

As a mission-oriented organization, MCIC aims to make a substantial difference in medical malpractice risk reduction and patient safety broadly within healthcare. Through leading-edge risk management practices and consultation, MCIC will continue to dramatically improve the quality of healthcare services across their partner organizations.

MCIC’s origins date back more than four decades to the formation of The Medical Centre Insurance Company, Ltd., a Bermuda-based captive insurance company which commenced operations July 1, 1978, and which provided its Shareholders with insurance for their medical professional and general liability exposures. Today, MCIC insures its subscribers across all of their campuses, which include more than 16 hospitals and 375 separate locations in seven states. MCIC currently insures more than 17,000 physicians and over 50,000 individual employees and charges approximately $360 million in annual premium.

The Opportunity

The next President and CEO of MCIC will join the organization at a pivotal time in its history. With over $360M in annual premium revenues, MCIC is a substantial enterprise with the scale and sophistication needed to plan for and create its future. Its member organizations are financially sound with strong market positioning providing security for MCIC to take well-reasoned and prudent risk.

The President and CEO will direct all aspects of the company's strategic activities to ensure the adequacy and soundness of the company's financial structure, maximizing underwriting profit in addition to leading short-term and long-range strategic growth. She/he will be responsible for the direction of all assets and will serve as the company’s principal liaison to customers, government agencies, professional societies, the insurance industry and the community. In an evolving environment, the CEO will be a consensus builder and a change agent, strategically leading the organization into its future and developing a team of diverse and superior talent to ensure the continued success and advancement of MCIC.

The successful candidate will be an exceptional, strategic leader, with the proven values and skills needed to transform and grow a highly successful medical malpractice insurance company with an enduring commitment to innovation in the management and reduction of risk. She/he will exhibit the balance of commitment to excellence in business management, support for insured professionals and focus on reducing risk that represents the best of breed in professional liability insurance executives. MCIC’s goal is to continue to provide unparalleled performance as an insurer to its member organizations and support of their efforts to provide the safest care in the world while contributing importantly to the nationwide effort to promote patient safety.

Key Duties and Responsibilities

The President and CEO serves as the senior executive of MCIC and is responsible for leading the planning and implementation of approved strategic initiatives, effectively managing the operations, human capital and assets of the organization. She/he directs all activities of MCIC to ensure the mission and goals of maintaining and enhancing the quality of services to all its members who receive services in accordance with the values of MCIC. The CEO is ultimately accountable for all operations, management and financial performance for MCIC. She/he will provide guidance and direction to members of the executive management team in achieving both their short and long term objectives. The President and CEO will create an environment of collaboration and accountability for performance to assure consistency across values, business performance excellence, customer service, employee satisfaction, and physician partnering.

The President and CEO will ensure a high level of cooperation and communication among her/his executive management team and staff, and will be personally responsible for promoting and maintaining excellence and integrity in the diverse activities that support MCIC’s mission. He/she will provide direction and leadership in the collaborative activities of MCIC staff with leaders of its member organizations.

The President and CEO will work closely with the Subscriber’s Advisory Committee in establishing strategic plans for evolving MCIC’s strategies and tactics to remain strong financially while adapting to the anticipated changes in healthcare delivery and the resulting changes in risk profile for MCIC’s member organizations. She/he will guide the MCIC’s executive management team in supporting the committees of the board whose effective functions has contributed to MCIC’s success and to the extraordinarily positive impact that the organizations has had on its member organizations.

Professional Experience/Qualifications

The President and CEO will have an outstanding reputation and will be regarded for her/his strategic thinking, business judgement, consensus building, technical expertise, leadership skills and integrity.

She/he should have significant levels of experience working in a leadership role as a CEO or as a COO. Although prior management experience as a CEO or COO is valued, others with significant leadership roles in management (e.g. serving as head of several related departments) will be accorded serious consideration. More specifically, the successful candidate should have significant experience in underwriting, claims, risk management, and business development. Individuals in senior level consulting organization will also be considered.

Additionally, the President and CEO must have:

• Experience working with and understanding the needs of policyholders (hospitals and physicians as well as allied clinical practices); providing solutions to their risk prevention and insurance needs is a critical success factor.
• Ability to develop stable relationships with state regulators and legislators regarding issues critical to the success of the organization, understanding issues such as: tort reform; proposition advocacy or resistance; and other matters that safeguard the interests of policyholders and be able to present a case for adoption of new regulations that safeguard the interests of insured policyholders.
• Deep insurance industry experience is a must. Experience in medical professional liability, hospital and healthcare professional liability, allied healthcare workers’ compensation areas is highly preferred.
• Strong working knowledge of the strategic and tactical considerations that any insurance company must address. This includes a successful track record in producing underwriting profit; maintaining an acceptable combined ratio or loss ratio; and building a strong operating ratio.

Demonstrated ability to lead a senior management team of diverse professionals like Chief Operating Officer, Chief Financial Officer and other Senior Vice Presidents and Vice Presidents at MCIC is essential. A candidate’s experience working in or having familiarity with academic medical centers, insurance and/or investments will be valued.

Candidates should possess strong administrative skills in all aspects of executive management including board relations, strategic planning, finance, program development, information technology, human resources, government relations, marketing, and vendor contract negotiations. The President and CEO must address and be able to effectively communicate these concepts to the Subscriber’s Advisory Committee and the Executive Committee of the organization.

The successful candidate will be an energetic and motivated leader with a passion to make a significant difference and who will have demonstrated in a previous leadership role the following:

• A passionate commitment to advancing the mission of delivering quality healthcare services and reducing risk to patients related to the provision of healthcare services.
• Desire to forge effective working relationships with the Subscriber’s Advisory Committee, physician leaders, academic medical center leaders/partners and the MCIC management team.
• Experience and interest in working through political processes within the member communities and beyond to obtain support for the mission.
• A superior track record in executive management, with significant successful experience at a leadership level.
• Capabilities as both a strategic and operational leader, possessing a record of accomplishments that demonstrates the ability to lead a complex organization operating in a challenging, and evolving environment.
• Strong financial management skills together with the business acumen and judgment to effectively utilize the resources and staff of the system.
• Demonstrated effectiveness as a mentor.
• Ability to resolve conflicts and diffuse tensions through negotiation, clarification, and inclusive dialog.
• Active participation in the community-wide dialog that advances the coordination of healthcare services.
• Appreciation of the nature and value of the political process – works calmly and effectively in managing the predictable twists and turns in a political decision-making process.

Education

An undergraduate degree is required; and advanced degree such as an MBA is preferred or other relevant industry designation would be considered a plus.

How to Apply

For more information and/or to apply, contact Liz Nida at Korn Ferry (elizabeth.nida@kornferry.com)

Contact Name

Liz Nida

Contact Email

elizabeth.nida@kornferry.com