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Prepares quarterly and annual statutory financial statements (Yellow and blue books) for the insurance companies
Responsible for filing data and statements with regulatory agencies including NAIC
Drafts Footnote disclosures and provides well organized work papers to facilitate review of quarterly schedules
Attends annual training and develops user requirements related to update Statutory Accounting disclosures and reports
Manage regulatory reviews including maintaining records that support financial activity
Monitors changes to statutory reporting requirements and ensures compliance with accounting policy
Responsible for the preparation of General Interrogatories and Notes to the Financial Statements
Reconcile Premium, Claim, Cash Clearing and Prepaid Balance Sheet accounts
Skilled in working with Sovos, formerly eFreedom, software and maintaining access as well as running cross checks and validations of quarterly and annual statements
Work with Oracle Fusion and SmartView tools to ensure data accuracy and completeness
Assist external auditors in reviewing financial activity and preparing audit exhibits and statements
Support the preparation of annual statement supplement filings including SHCE, MLR, RBC, A&H Policy Exhibit and NY Supplement
Complete Supplemental filings and prepare draft of MDA’s for review by management
Review Investment schedule D’s to ensure roll forwards and continuity of balances to face financials are reasonable
Complete RBC calculations for the regulated entities and provide explanations of the year-over-year changes
Identify future trends and model potential transactions and their impact on RBC levels
Coordinate and accumulate financial analytics including explanations for review
Prepare and track operational timeline and actions items while managing a team close schedule
Review and support the preparation of quarterly estimated premium tax filings and the annual premium tax returns
Review and support the various state assessment and data collection filings
Review and approve the recording of accruals within the general ledger associated with these filings
Requirements:
Bachelor’s Degree in Accounting/Finance required
CPA preferred
4-6 years’ experience working in statutory insurance accounting required
Expertise with insurance accounting (A&H, Life and Property & Casualty) preferred
Developed understanding of insurance company concepts preferred
Extensive knowledge and understanding of SSAP’s and the ability to evaluate their applicability preferred
Exceptional prioritization and time management ability with a sense of urgency to deal with the pressures of meeting regulatory deadlines required
Experience with annual statement software (SOVOS, formerly eFreedom), and G/L system (Oracle) preferred