Andy Schaut

TBA في TBA

• سويسرا
• أشغل هذه الوظيفة منذ نوفمبر 2014

CFO Insurance BU Specialty Lines & Foreign countries في Nationale Suisse Insurance Group

• سويسرا
• أبريل 2011 إلى أكتوبر 2013

Nationale Suisse is a Swiss retail & Specialty lines (re-)insurer with subsidiaries in Belgium, Germany, Spain, Italy and Malaysia and Rep-offices in Miami and Istanbul. The BU Specialty Lines & Foreign countries is a fast growing organization, mainly expanding in the lines of business Engineering, Marine, Art and Credit Life.
In the Business Unit, responsible for / involved in:

 Group (IFRS)- and Statutory-reporting (Life and Non-Life) for Swiss and foreign reporting units in the business unit;
 Implementation of a BU-wide MIS;
 Relationship with the Regulators in the respective territories;
 Improvement of operational infrastructure, needed to coop with the fast growth of the business.
 (re-)Structuring of the BU both to facilitate the expansion of the business as well as in anticipation of implementation of Solvency 2 (legal structure, obtaining licenses to operate globally).
 Implementation of Solvency 2 in the EEA subsidiaries.
 BU contributions to group-wide deliverables such as the SST (Swiss Solvency Test), Rating Agent (AM Best) and other stakeholders.
 Support of M&A transactions that involve the BU.
 Support BU CEO with the expansion of the Specialty Lines network (2013 Singapore).
 Profitability reviews for several portfolios.
 Reviews of effectiveness and efficiency of our reinsurance protections and improvements of reinsurance processes as they relate to our business unit.

Reporting line is to the CEO of the Business Unit (with whom I earlier also worked at XL Insurance).
The business unit generates ca. CHF 600 million of premiums and comprises 540 employees of which ca. 35 in my area of responsibility.

CFO في XL Insurance & Reinsurance

• سويسرا
• يوليو 2003 إلى مارس 2011

Chief Financial Officer of XL`s Swiss operations. XL`s Swiss operations comprised:

 XL Insurance Switzerland, a direct non-life insurance company engaged in writing global programs and various mono-lines;
 Vitodurum Reinsurance Company, a reinsurance company engaged in assuming and reinsuring global program business and various mono-lines. Also Chief Operating Officer for this entity.
 XL Latin America Re, a reinsurance company engaged in writing Property and Casualty business in South America and the Caribbean.
 XL Swiss Holdings, a holding company with various Swiss and overseas investments;
 XL Insurance Company Ltd, Swiss branch, a direct insurer writing D&O and XS Casualty.
 XL Re Europe, Zurich branch, a branch of an Irish entity writing Treaty reinsurance with Swiss reinsurers. For this branch I was the Branch Manager.
 XL Company Gmbh, a sub-holding that holds all of XL Group`s operations worldwide (since 2010, following redomestication of XL Group from Bermuda to Ireland).
The operations in Zurich comprised ca. 225 people and Fr. 4/ 4.5 billion of assets.

Member of the Continental Europe & Asia Management Board of XL Insurance until October 2009 when it was dissolved as a result of XL Insurance reorganising its international activities into one single non-USA unit, from three geographical areas earlier.

Responsible for financial management and reporting, tax planning and compliance, regulatory matters (FINMA) for the entities listed. Also a Board member of all but one of the entities listed as well as for a Mexican Insurance carrier.

In October 2005 became Chief Operating Officer for Vitodurum Reinsurance Company (formerly known as “Winterthur International Re”). Following its significant growth, that entity had not been able to keep up its operational administration since the late nineties and consequently had run into a “worst case” backlog situation. In the years 2005-2008 managed a reorganisation of the operations, negotiated with the many reinsurers of the entity (many of which were captives of XL`s current clients and XL`s current Treaty reinsurers) to reach negotiated settlement or commutations. Took legal actions where appropriate and supported Legal counsel in such cases. Managed various Treaty-audit processes during this period.

In 2006, established a Reinsurance Operations unit in India (Delhi) of close to 40 staff. That unit mainly assumed activities transitioned from Switzerland and from a third party service provider in the UK (Capita London Market Services). Staff retention in that unit has been excellent.

The COO position included responsibility for the company`s IT landscape (legacy systems and development of tools allowing transition to India) and the Claim-adjusting process for claims assumed from fronting partners. In this role gained detailed knowledge of many different reinsurance markets and (broker-)practices. Also substantial exposure to Schemes and Arrangements to which this entity became part.

Served as a project member/leader on a number of tax-/legal-restructuring projects that XL ran, including that concerning the redomestication of the XL Group from Bermuda to Ireland, a large European legal entity consolidation project and matters like the implementation of the Swiss Solvency Test (Solvency II equivalent implemented in Switzerland).

XL Group is a strong matrix organisation, which requires one to work within an environment of many strong- and dotted-reporting lines, across many territories and cultures. Over the years I have substantially reduced the size of my operations, by increasing efficiency and by transitioning processes to India. The associated cost savings to XL were substantial.

Reporting required under USGAAP (NYSE listed) and Swiss GAAP (OR and FINMA).

Senior Manager Assurance Financial Services في KPMG

• سويسرا
• أغسطس 2001 إلى يونيو 2003

Senior Manager in the Financial Services practice, with a focus on Insurance.
Major clients: the Winterthur Insurance Group (Credit Suisse Financial Services, responsible for Non-Life and the Group), Winterthur International Division (sale to XL Capital).
Smaller clients: Swiss Life, Mannheimer, ARAG, The Federal, Allianz Suisse.
During this period of time, provided services to customers in a broad range of matters, such as regulatory & compliance, FSA Consolidated Solvency reporting, SEC reporting under Credit Suisse umbrella, IFRS implementation, Transaction pricing, etc.

Senior Auditor, Group Head Office في Zurich Financial Services

• سويسرا
• سبتمبر 2000 إلى يوليو 2001

Within Group Internal Audit fulfilled a consulting function (towards Regional Head of Audit) for the Swiss and N/C/E European internal audit operations in Zurich Financial Services (ZFS). Focused on improving quality of services delivered to the individual business units, standardisation of audit planning, audit methods and techniques, marketing of internal audit within the organisation and high quality reporting to Audit Committee. Involved in some local site investigations, which, among other, concerned:
n Non-admitted business, for example in Eastern Europe;
n Fraud;
n Reinsurance;
n Financial controls in international business;
n Adherence to risk management principles in the C/N/E European units;
n Assessment of capital requests.

Director of Audit, Financial Services Department في KPMG

• رومانيا
• نوفمبر 1999 إلى سبتمبر 2000

Responsible for establishing the industry group for Banking and Insurance in the KPMG office in Bucharest, Romania. As leader of that group, responsible for Audit, M&A and Consulting services provided to banks and insurance companies in Romania. Clients included both local organisations as well as subsidiaries of foreign investors. Guided potential investors through the local markets, rules and regulations and helped them establish or acquire operations.
Was member of Management Team of four of a then rapidly growing organisation (225 employees), in areas of office management, quality controls and Human Resources.
Clients included firms such as Société Générale, GE Capital, Raiffeisenbank of Austria, Finansbank, The National Bank of Greece, Damen Shipyards, etc.

Country Manager في KPMG

• مولدوفا
• يوليو 1997 إلى نوفمبر 1999

First expatriate to start the KPMG office in the Republic of Moldova. Together with local partner responsible for office management (Finance, HR, Public relations, Quality control, compliance with IHQ, etc.), Client acquisition & Market development as well as relations with external organisations (EBRD, Worldbank, TACIS, IFC) and KPMG`s international organisation.
Overall responsible for all types of services provided to customers, which included both local firms as well as many foreign investors.

The KPMG office in Moldova comprised up to 35 employees until further growth was prohibited by the start of the “Russia/Rouble crises”. The office comprised an Audit and a Legal & Tax department.

Involved in various assignments, varying from acquisitions, special investigations and due diligence to audit. Involved in, for example, the two largest successful privatisations (large pharmaceutical company and large tin can producer) of 1998, investigations of major State organisations that were preparing for privatisation (the State oil company and the State Railways), valuations of businesses searching for foreign investment (oil trade companies, hotel business, airlines), audits of institutional projects and infrastructure objects (such as the Central Warm Water facilities - Termocom, Glass Containers Plant - GCC).

Worked with financial institutions in Moldova on issues such as Risk Management, Management Information and Automation. Further assisted two foreign investors when applying for a license at the National Bank, to participate in banking operations in Moldova. Responsible for auditing of eight banks in the Republic of Moldova, which granted me the opportunity to deal with issues that Central & Eastern European banks usually suffer(ed) from, such as related party lending, insufficient risk management, corruption in lending practices and lack of adherence to risk management procedures.

The small environment gave me the unique opportunity to maintain close contacts with and gain insight in the operations of the International Donor organisations (EBRD, EU, Worldbank), the Diplomatic Corps, local Ministries and a number of NGO`s, such as the American Bar Association.

Audit Assistant to Manager في KPMG

• هولندا
• سبتمبر 1988 إلى يوليو 1997

During employment in the Netherlands worked both with international financial institutions and multinational industrials. Served clients in their day to day financial and fiscal issues and during year-end audit procedures. Led numerous audits. Also served in large teams on mergers (such as Options and Stock Exchange in the Netherlands), bankruptcy and structuring cross border finance transactions. As travelling supervisor worked on IBRD investigations in Moldova and in Slovakia as from late 1994.
Clients included firms such as ABB, SNS Reaal, Credit Suisse First Boston, European Cultural Foundation (Erasmus program), Dai Ichi Kangyo bank (now Mizuho), etc.