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Witt/Kieffer is assisting the Western Asbestos Settlement Trust based in Reno, Nevada in recruiting its new Executive Director. The Trustees of four personal injury settlement trusts (the “Trusts”), co-managed and headquartered in Reno, Nevada, seek an experienced, high integrity, and detail-oriented executive to serve as their next Executive Director.
The assets held in these four trusts are to compensate those persons injured by asbestos products and operations of companies whose resources funded these Trusts in bankruptcy proceedings pursuant to special rules Congress added in 1994. Collectively, these Trusts, also known as Qualified Settlement Funds or 524g trusts hold assets totaling approximately $1.3 billion to compensate present and future claimants over the next 20-30 years. The Trusts are designed to pay victims through procedures immunized from the expense and vagaries of national asbestos tort litigation.
The Executive Director is responsible for overall leadership, operations, and performance of the Trusts and for consistent achievement of their goals and objectives. The Executive Director manages these Trusts according to the court approved Trust documents to ensure all claimants (future and present) are treated equal. She/he directs and manages the finance, accounting and investment policies and procedures of the Trusts. The Executive Director also ensures accurate and timely financial reporting. He/she will also be responsible for conceiving and guiding systems improvements to improve efficiency and quality of the Trust financial information. She/he is also responsible for effective claims management including timely and proper disposition of claims in accordance with the Trust documents, policies, and procedures. Internal and financial controls and integrity are critical.
This is a high visibility, complex and impactful leadership role focused on financial, claims payment, administrative and legal duties. The Executive Director builds collaborative working relationships with the Trustees, Trust Advisory Committee, Futures Representative, as well as several outside consultants ranging from claims advisor, outside general counsel, outside trust counsels, auditors/accountants, bankers, investment advisors and investment managers, among others.
The successful candidate must have excellent academic credentials, a law degree from an ABA accredited school of law, CPA, MBA, or other related discipline is strongly preferred.
In addition, candidates must have an outstanding record of achievement with a minimum of ten (10) years' experience of senior level management experience managing complex financial and legal issues. The successful candidate will also be a strategic, transparent and collaborative business partner.
Review of applications and nominations is underway and will continue until the position is filled. Candidates may submit an up-to-date resume electronically via WittKieffer's candidate portal. A job description is also available on this site. Candidates can also find this portal via the WittKieffer website at www.wittkieffer.com and selecting the "Candidate Portal" button. For confidential inquiries, nominations and questions, please contact Shirley Cox Harty at email@example.com.
The Western Asbestos Settlement Trust values diversity and is committed to equal opportunity for all persons regardless of age, color, disability, ethnicity, marital status, national origin, race, religion, sex, sexual orientation, veteran status or any other status protected by law.