Colleen Zitt
Newark
Summary
Results-driven professional with a robust background in operational risk assessment and financial governance. Known for strategic implementation of risk frameworks that proactively identify and mitigate risks while enhancing organizational resilience.
Overview
36
36
years of professional experience
1
1
Certification
Work History
Vice President, End to End Process and Controls
Zurich Insurance Group, ZNA
Schaumburg
01.2024 - 05.2025
- Lead enterprise effort to support business process owners to assess operational risk and implement an operational process and control framework across significantly important business processes.
Senior Vice President and Chief Risk Officer
Zurich Insurance Group, ZNA
Schaumburg
04.2020 - 12.2023
- Ensure monitoring of risk exposures against risk tolerance is effective across North America region
- Produce and deliver risk reports including execution of quality assurance process over Zurich Risk Policy (ZRP)
- Facilitate consistent implementation of the group risk framework
- Ensure early identification of risk issues and that follow up mitigation and monitoring takes place
- Provide a holistic view of risk, oversee risk assessments throughout region and partner with ZNA Executive Committee to drive risk awareness and culture
- Monitor regional and legal entity risk profiles
- Chair Risk and Control Committee and provide quarterly risk report to Audit & Risk Committee as well as Board of Directors
- Oversee ICIF program across the region inclusive of testing over controls
Senior Vice President and Corporate Controller
Zurich Insurance Group, ZNA
Schaumburg
01.2017 - 04.2020
- Responsibilities align with prior role however expanded to include direct accountability for Life Insurance within North America (excluding Farmer’s New World Life Company)
Senior Vice President and Regional Controller
Zurich Insurance Group, ZNA
Schaumburg
04.2013 - 12.2016
- Responsible for the implementation and alignment of key financial governance related matters within North America region
- Responsible for Finance Accounting and Reporting talent management within North America region
- Accountable to bring material or significant North America regional Finance Accounting and Reporting matters to the Group Finance function
Senior Vice President and ZNA Corporate Controller
Zurich Insurance Group, ZNA
Schaumburg
09.2008 - 03.2013
- Responsible for the accuracy and completeness of financial statement preparation (Statutory / IFRS / GAAP) for a global property and casualty insurance company with GWP volume of over $14B.
- Ensure that the financial reporting framework is fit for purpose in terms of people, process and technology. Developing and driving improvements on an ongoing basis to ensure stability and adequacy of the framework.
- Responsible for the accuracy and completeness of financial statements of a holding company infrastructure with approximately $70B of assets inclusive of Audit Committee and Board of Director's reporting.
- Support ZNA Chief Financial Officer and Chief Executive Officer in their sign-off of financial results through the assurance of effectiveness of internal controls.
Vice President and ZNA Acting Controller
Zurich Insurance Group, ZNA
Schaumburg
04.2007 - 08.2008
- See Controller role noted above.
Vice President and ZNA Assistant Controller
Zurich Insurance Group, ZNA
Schaumburg
08.2006 - 08.2008
- Direct Corporation's internal and external financial reporting and accounting research functions.
- Assist in the direction and oversight of the Corporation's accounting and reporting functions.
- Assist the Corporate Controller and Chief Financial Officer in various finance-related projects and initiatives.
- Active participant in the Zurich Way of Finance work streams. (North America Shared Services, Global Monthly Hard Close and Close Process Improvement Projects)
- Coordinate with external auditor staff in the completion of quarterly financial audits and Corporate Centre communications.
Assistant Vice President and Chief Financial Director
Zurich Insurance Group, GCiNA
Schaumburg
04.2001 - 07.2006
- Manage planning/budgeting and forecasting activities for a $3 Billion GWP business unit.
- Develop and maintain financial reporting and planning systems for GCiNA.
- Provide internal business unit (BU) management reports inclusive of business insights and BU performance metrics on a monthly basis.
- Support and ensure appropriate external monthly reporting to Global Corporate BU management inclusive of monthly commentary, variance analysis, BOP walks and Plan Risk Assessment documents.
- Assist in the preparation of and participate in Operations and Profitability review meetings with Global Corporate Senior Management.
- Manage resource responsible for Internal Control Framework.
- Maintain high degree of communication and relationships with senior staff and support units within GC and NAC.
- Manage and support special projects related to BU products and compliance (ie. SEC response, etc.).
Field Financial Manager
Zurich Insurance Group, Corporate Customer / Group Captives
Schaumburg
07.1998 - 03.2001
- Financial underwriting management included activity based costing analysis that drove OUE allocation for pricing of business along with collateral maintenance and establishment.
- Liaison with reinsurance accounting department to assist with coordination of financial execution of business and historical coding issues.
- Develop and assist underwriting and management team with statistical booking and financial workflow procedures.
- Support and provide management with monthly GWP, headcount, OUE and P&L variance analysis.
- Support and manage planning/budgeting and forecasting activities for $400M GWP SBU through a very active new business growth period.
Reinsurance Accounting Manager
Zurich Insurance Group, ZNA
Schaumburg
07.1994 - 06.1998
Senior Reinsurance Analyst
Zurich Insurance Group, ZNA
Schaumburg
09.1993 - 06.1994
Supervisor of Domestic Collections
Crum and Forester Managers Corporation
Chicago
10.1992 - 06.1993
Senior Reinsurance Collections Accountant
Crum and Forester Managers Corporation
Chicago
04.1991 - 09.1992
Accounting Manager
Saturn Intermediaries, Ltd.
Chicago
03.1989 - 03.1991
Education
Bachelor of Science - Finance, Economics
Northern Illinois University
DeKalb, IL01.1988
Skills
- Operational risk management
- Financial reporting and compliance
- Internal controls and oversight
- Risk assessment strategies
- Strategic planning
Certification
- CPCU Accounting and Finance, passed
- CPCU Insurance Economics, passed
Languages
English
Timeline
Vice President, End to End Process and Controls
Zurich Insurance Group, ZNA
01.2024 - 05.2025
Senior Vice President and Chief Risk Officer
Zurich Insurance Group, ZNA
04.2020 - 12.2023
Senior Vice President and Corporate Controller
Zurich Insurance Group, ZNA
01.2017 - 04.2020
Senior Vice President and Regional Controller
Zurich Insurance Group, ZNA
04.2013 - 12.2016
Senior Vice President and ZNA Corporate Controller
Zurich Insurance Group, ZNA
09.2008 - 03.2013
Vice President and ZNA Acting Controller
Zurich Insurance Group, ZNA
04.2007 - 08.2008
Vice President and ZNA Assistant Controller
Zurich Insurance Group, ZNA
08.2006 - 08.2008
Assistant Vice President and Chief Financial Director
Zurich Insurance Group, GCiNA
04.2001 - 07.2006
Field Financial Manager
Zurich Insurance Group, Corporate Customer / Group Captives
07.1998 - 03.2001
Reinsurance Accounting Manager
Zurich Insurance Group, ZNA
07.1994 - 06.1998
Senior Reinsurance Analyst
Zurich Insurance Group, ZNA
09.1993 - 06.1994
Supervisor of Domestic Collections
Crum and Forester Managers Corporation
10.1992 - 06.1993
Senior Reinsurance Collections Accountant
Crum and Forester Managers Corporation
04.1991 - 09.1992
Accounting Manager
Saturn Intermediaries, Ltd.
03.1989 - 03.1991
Bachelor of Science - Finance, Economics
Northern Illinois University
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