AGRiP
In 2015, VML Insurance Programs (VMLIP) was presented the Award for Excellence in Performance from the Association of Governmental Risk Pools (AGRiP) for the outstanding development, management and implementation of the Where the Rubber Meets the Road campaign.
This year, VMLIP again received the award – this time for the pool’s Leadership Development Program. This is the first time in AGRiP’s history that an organization has been presented with the Award for Excellence in Performance two years in a row.
The Leadership Development Program was established in January, 2013 to provide growth opportunities for staff and facilitate the retention of key talent in VMLIP’s succession planning. With a staff of 55 composed of 33 baby boomers, succession planning is vital for the continued growth of the pool.
The initial Leadership Development Program consisted of six staff who were selected based on their applications, recent performance evaluations, and their own self-evaluations which stated career goals. Management also reviewed each applicant’s pursuit of professional designations, continuing education, and involvement in professional organizations.
The class met each week, receiving presentations from various directors and other presenters on topics such as finance, human resources, underwriting, claims, technology, safety, and more. Core competencies of leadership were stressed in each session, including communication skills, critical thinking, diversity awareness and intelligence.
The first class concluded at the end of 2013 and a second class, composed of nine students, began a two-year program in January, 2015.
“The leadership class creates a team of players creating future cross-functional relationships and solutions,” said one past participant. “It’s not everyday an underwriter and a claims adjuster study and analyze the marketing plan.”
VMLIP continues to focus on learning, continuing education, and the pursuit of relevant professional designations. Out of 55 employees, 30 hold at least one industry relevant designation and 14 are working on designations, of which five will be their first when completed.
CAFR
For the third year in a row, VMLIP has received the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA) for the pool’s Comprehensive Annual Financial Report (CAFR). This is the highest form of recognition in the area of governmental accounting and financial reporting.
The CAFR encourages state and local governments to provide more than the minimum generally accepted accounting principles and prepare a comprehensive annual report that demonstrates a “spirit of full disclosure.”
The goal is to ensure that users of the reports have the information they need to be able to do so.
Governments that participate in the Certificate of Achievement for Excellence in Financial Reporting Program are asked to submit their report within six months of the end of the fiscal year. The GFOA’s review process typically requires an additional four to six months.
You can read VMLIP’s 2014 – 2015 CAFR here.
Richmond Top Workplaces
VMLIP has been named a finalist as one of the top workplaces in the Richmond region! VMLIP is among 60 workplaces named in the third annual Top Workplaces program conducted by the Richmond Times-Dispatch (RTD) and Workplace Dynamics.
VMLIP was recognized in the small companies category of those employing 124 or fewer. The top winners will be announced on May 5 and published in the RTD on May 6. See the RTD article here.