Senior Vice President Discusses Ways to Ensure Success
When Chris Malone 91 attended Villanova University, he valued the sense of community on campus. Perhaps it was that same feeling of unity that ultimately drew him to NJM Insurance Group.
Malone joined NJM in 2019 after more than 25 years in the property and casualty industry. As part of his role as Chief Financial Officer (CFO), Malone oversees accounting, treasury, financial planning, actuarial, reinsurance, enterprise risk management, and the commercial lines business unit. He also serves on the Company's behalf on the Board of the Insurance Institute for Highway Safety (IIHS) and was named a top CFO for 2022 by South Jersey Biz magazine. His days are full and never boring.
“It’s been an incredible journey,” Malone said. “This wasn’t my plan while I was at Villanova, but things fell into place along the way. Something I’ve always been attentive to throughout my career is work culture. Work environment impacts you every day and the culture at NJM is second to none.”
A native of Massachusetts, Malone graduated from Villanova with a B.S. in accounting before earning his M.B.A. from the Yale School of Management. He recalls his accounting professor at Villanova — Dr. Tim Monahan — asserting that accounting is the foundation of every business and “understanding it is invaluable as you venture into a business career.” Malone has proven his professor to be wise.
Working for insurers that include The Hartford, The Travelers Companies, Inc., and Plymouth Rock Assurance Company, Malone has led teams in strategic business development, sales, underwriting, marketing, and financial planning. His experience is eclectic, which has kept his career path on a steady incline.
“Professional development and mentorship are critical factors when considering job opportunities,” Malone noted. “Continue to challenge yourself and learn as much as you can about the operations outside of your area of expertise.”
Malone was aware of NJM’s exceptional reputation when an opportunity emerged to join the Company. His interest piqued when he learned NJM was building out its product line and expanding into new states after more than a century of providing insurance almost exclusively in New Jersey.
“I thought it would be exciting to be a part of its growth,” Malone said. “I could sense there was something special about NJM during my interview process. In my first meeting with Mitch [Livingston, NJM President and CEO], he told me that ‘it’s all about the policyholders.’ A lot of companies say it, but we truly mean it. We live by it.”
NJM now offers personal insurance policies to residents in Connecticut, Maryland, New Jersey, Ohio, and Pennsylvania. The Company also expanded its business insurance product line and offers policies in Connecticut, Delaware, New Jersey, New York, Maryland, and Pennsylvania.
Malone still finds time to visit Villanova a few times each year. He serves on the Center of Business Analytics Advisory Council and will try to catch a Wildcat basketball game when he’s on campus. For current students who are about to join the workforce, Malone offered some advice.
“Don’t dismiss an industry because you perceive it a certain way,” he said. “You can find interesting jobs in every line of work.
He added, “For those looking for a change in their career, it’s okay to sometimes take a step back before moving forward. If you find something you love, there’s a good chance you’ll find success.”
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