Runoff & turnaround management

Management Services

We are specialists in short- and long-term interim and change management, and have extensive experience working with companies experiencing management resource constraints or seeking highly specialized individuals with unique turnaround or crisis management skills.

In high exposure litigation we can help "bridge the gap" between outside legal representation and decision-makers, while providing objective information. Leveraging our extensive experience in human resource management in the financial services industry, we provide a solid foundation to evaluate the management team in acquisitions and other due diligence situations.

The Managing Partners at The Princeton Partners have many successes to work from and are supported by an outstanding group of professionals covering all functional areas. Our five step approach gives structure and discipline to a plan that must be targeted for each individual and unique situation.

Turnaround Management

The Managing Partners at TPP have many successes to work from and are supported by an outstanding group of professionals covering all functional areas. The TPP five step approach gives structure and discipline to a plan that must be targeted for each individual and unique situation.

Runoff Management

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Exit Strategies

We have extensive experience in all exit strategies currently available to U.S. domiciled companies. This includes the development, implementation, and management of runoff strategies that involve the use of finite covers with the ultimate goal of selling the discontinued operation. We manage clients’ discontinued businesses so that they can stay focused on ongoing core operations. In addition, we implement schemes of arrangement as they gain acceptance with U.S. regulators.

Loss Portfolio Transfers
Stop Loss Covers
Runoff Planning and Implementation
Schemes of Arrangement
Creditor and Debtor Representation in
Rehabilitation and Insolvency
Dispositions
Commutations
Structured Settlements

Crisis and Interim Management

TPP offers experienced managers to fill critical needs for a temporary period as an organization transitions.

We can place experienced reinsurance and insurance executives, Managers and Specialists to fill specific needs from an Interim CEO to a Commercial Underwriting Manager to a fully staffed runoff organization.

Litigation Management

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Management Evaluation

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Organizational Performance

Organizational Performance can mean many different things. Put simply, it is a yardstick on how well all the pieces of a company work together in order to achieve its business mission. To enhance a company's performance or to get it back to running efficiently we have a number of approaches which help our clients to improve performance.

Organizational Performance

Organization Analysis
Management Audits
Management Selection and Staffing
Leadership Development and Talent Management
Executive Coaching

Organization Analysis

Everyone knows what an organization chart is. It captures, at a point in time, the reporting relationships, the people, and the various positions in an enterprise. However, there is much more to tell. This snapshot is frozen in time and doesn't give us any idea of the dynamic content of an organization. Furthermore, in the age of shared information many organizations have been turned upside down where many managers today are as much a coach as a giver of orders. These relationships need to be recognized. Other questions must be asked:

How, where and by whom are decisions made.
What are the key decision points such as pricing, reserving, competitive strategy, product development, employee and management selection, etc?
How does your organization really work - how does it process information, how does its production flow?
How do you describe the culture of your company (things that are "just there" but are never talked about)?
How does your organization respond to changes in strategy, major events, crisis?
What are the best ways to lead your organization?

TPP will help you to better understand your organization, enhance its capabilities, and respond to the challenges ahead.

Management Audits

Part of an organization review or the due diligence of a potential acquisition is to assess the management and the leadership of a company. With an understanding of the company's mission, TPP can evaluate the management positions in their entirety to determine if their content and relationships to each other and to the organization are getting the job done. We will then evaluate the capabilities and critical competencies of the management team indicating what areas need to be strengthened and identify any gaps between where you currently are and where you need to be.

Management Selection and Staffing

We can help you to directly link your management selection as well as your overall staffing process to the mission of your organization. This is done by identifying the critical competencies needed to succeed in your organization and translating them into position profiles which become a living blueprint of what your management needs to become. Each position has a mission linked directly to the company mission; critical success factors - those things that must go absolutely right for the position to be successful, and core competencies - many of which are shared by all management but are unique to the individual, and situational factors - unique and tactical, linked to the specific position.

Taken a step further, these profiles can be translated into structured interviews which will prep the organization to ask the right questions of prospective candidates. We have found that with these very focused interviews management can get twice the information in half the time.

TPP has the experience and capability to help you assess your staffing needs and outline an effective strategy to satisfy those needs. Once the strategies are clear you can outsource your recruiting and staffing needs to TPP for effective delivery of services including:

Management of recruiting sources
Administration and database management
Phone pre-screening
Interviews
Coordination of in-house interviews
Candidate negotiations
References and background screening
Testing
New employee orientation.

Each program is designed around your unique needs where we will put in place a set of activities to support your ongoing activities. You can use as little or as much of these services as you need.

Leadership Development and Talent Management

TPP will help you to develop strategies for developing leadership skills needed to overcome the challenges you are currently facing whether short-term or long-term. Our work with Leader To Leader (previously The Peter F. Drucker Foundation) and over 300 thought leaders in leadership throughout the world will connect you to the very best information and people in the field. The axiom "managers do things right and leaders do the right things" gives evidence to a whole new body of work developing for today's and tomorrow's managers/leaders.

While stable, growing organizations need to focus considerable attention on their talented employees companies in a crisis or in a turnaround situation may find this critical to their survival. A thoughtful and properly executed talent management and retention program may be the difference between success and failure. Having the right talent in place has become a primary strategic competitive advantage for any organization in the financial services industry.

Executive Coaching

Studies show that 30-40% of executives leave within two years of starting at a new company predominantly for "lack of fit". This is a startling statistic and is usually based on the failure of an executive to get the "soft skills" right within the new company. This usually means a clash of cultures and can many times be overcome if both the hiring company and the new employee get help in identifying the differences of those cultural factors that are so hard to specify. Effective coaching can create new insights about leadership style, interpersonal style and executive thinking. In addition, during periods of change coaching can help a manager to develop new effective behaviors to replace ineffective ones not working in the new organization.

Executive coaching also supports valued executives whose skills and talents are both respected and required but who may have behaviors that impede their effectiveness. This is particularly true of organizations that are going through a major shift in the way they do business. These programs have proven to be effective in impacting business performance in areas such as increased productivity, decreased turnover, improved organizational strength, and increased quality.