Rudy Dimmling

Biography

Rudy Dimmling is a Senior Director with Alvarez & Marsal Insurance and Risk Advisory Services in New York, with more than 25 years of financial, operational and restructuring experience in the financial guaranty, reinsurance, P&C and healthcare industries. He assists corporate clients with stabilizing and enhancing financial and operational performance for stakeholders and policyholders. Mr. Dimmling’s previous consulting assignments include serving as interim Director of Finance (CFO) of North Carolina's Division of Medical Assistance (Medicaid) where he was responsible for the financial operations of Medicaid's $14 billion budget. Rudy led a staff of 75 professionals and was responsible for budgeting / forecasting, cash management, actuarial, financial reporting, rate setting and provider audit.  Key accomplishments in this engagement include improved financial reporting and transparency, a restructured Finance division, and development of internal controls and operating procedures.  While on this engagement, Mr. Dimmling also testified before the North Carolina Legislative Oversight Committee. He also served as interim Director of Compliance of North Carolina's Division of Medical Assistance, Program Integrity unit (fraud, waste & abuse) where he was responsible for the unit's day-to-day operations and overseeing a staff of 60 professionals.  Before joining A&M, Mr. Dimmling served as COO at Trenwick America, in runoff developing and implementing a commutation and exit strategy that resulted in a 65 percent reduction in gross reserves and a 225 percent increase in risk-based capital, while simultaneously reducing operational expenses. The successful turnaround resulted in the reinstatement of dividend payments to the parent holding company. In addition, he provided regulatory, operational and strategic advice for a distressed Bermuda-based life reinsurance company. His key accomplishments included cash flow modeling, identifying trapped capital opportunities and developing a long-term operating structure in a run-off environment. He previously served as SVP and Chief Administrative Officer at Centre Group Holdings (a wholly-owned subsidiary of Zurich Financial Services) with direct responsibility for claims, actuarial, risk management and IT. Mr. Dimmling earned a BBA in Accounting and a MBA in Finance from Adelphi University. He is a Certified Insolvency and Restructuring Advisor and a member of the Association of Insolvency and Restructuring Advisors, Turnaround Management Association, John Street Association and Insurance Federation of New York. He has served on the board of directors of a catastrophic healthcare company, investment bank, operable wall manufacturer and several reinsurance companies.

Research Interest

Rudy Dimmling has 25+ years of insurance experience across multiple sectors including P&C, reinsurance, financial guaranty and healthcare Has served in multiple senior leadership positions including CAO, COO and CFO