MONTGOMERY, AL (WAFF) - Alfa Insurance has promoted Russell Sinco to chief financial officer (CFO). Sinco joined Alfa in 2005 as vice president of planning and analytics and most recently served as controller for the Montgomery-based company.
"Russell has played a lead role in financial planning and analysis, and has continually worked to streamline operations within the Finance Department," said Executive Vice President of Operations Steve Rutledge in a statement. "I am confident Russell will continue to bring positive results to Alfa in his new role."
As CFO, Sinco is responsible for Alfa's capital allocation and reinsurance strategies; tax compliance; credit arrangements; regulatory and rating agency reporting; and financial communication with the board of directors.
"I am thankful for the opportunity to be part of Alfa's leadership team," Sinco said in a statement. "Alfa has a legacy of conservative financial management, which has contributed to the strength of these companies. We will continue to address the financial challenges posed by severe weather and low interest rates while providing quality products and service to an expanding customer base."
As controller, Sinco managed 60 employees in the company's Property & Casualty, Life, Investment and Accounting departments, as well as the Budgeting and Planning unit. Sinco provided key leadership in implementation of debit and credit card payment options to enhance customer service for Alfa policyholders.
Before joining Alfa in 2005, Sinco worked 12 years in insurance-focused roles at Ernst and Young LLP, and American Safety Insurance. He earned his bachelor's degree in accounting from Florida State University and is a Certified Public Accountant (CPA). He serves as board president for HandsOn River Region, a not-for-profit United Way agency helping volunteers find service opportunities in five central Alabama counties. Sinco and his wife, Tara, have two children, Madeline and Katherine.