Statutory Reporting and Insurance Accounting
- Prepare and review the quarterly and annual statutory financial statements (NAIC Annual Statement), including all supporting schedules, exhibits, and supplemental filings, in accordance with NAIC Statutory Accounting Principles (SAP).
- Complete multi-state filing deliverables and coordinate state Department of Insurance submissions to ensure insurance licensure requirements are met in each state in which the company operates.
- Prepare premium tax returns, state assessments, and Risk-Based Capital (RBC) calculations and related solvency and regulatory reporting.
- Lead and perform month-end and year-end close processes, statutory and GAAP financial reporting, account reconciliations, premium and claims accounting, regulatory filings, and internal control compliance.
- Prepare and record journal entries for monthly, quarterly, and annual accounting processes.
- Reconcile general ledger accounts, bank accounts, and investment accounts.
- Maintain supporting schedules and documentation for balance sheet accounts.
- Prepare monthly financial statements and management reports.
- Analyze financial data and investigate account variances or discrepancies.
- Serve as a key contact for external auditors, actuaries, and state regulators and examiners, preparing requested schedules and responding to inquiries.
- Work closely with underwriting, claims, reinsurance, and operations teams to ensure accurate financial reporting and regulatory compliance.
Accounts Payable and Cash Management
- Review and process vendor invoices and employee expense reports.
- Assist with cash management activities and bank reconciliations.
- Monitor outstanding receivables and payables.
- Support treasury and investment accounting activities.
Education and Experience
- Bachelor’s degree (B.A./B.S.) in Accounting, Finance, or a related field.
- 3+ years’ relevant accounting experience, including required property and casualty (P&C) insurance experience, with direct exposure to statutory financial reporting.
- CPA, or active progress toward CPA, preferred.
Knowledge, Skills, and Abilities
- Strong understanding of accounting principles and financial reporting.
- Knowledge of insurance accounting practices and terminology, including NAIC Statutory Accounting Principles (SAP) and annual statement preparation.
- Proficiency in Microsoft Excel, including pivot tables and advanced formulas.
- Experience with accounting and ERP systems (experience with FIS statutory reporting / annual statement software a plus.)
- Strong analytical and problem-solving skills.
- Excellent organizational skills and attention to detail.
- Ability to manage multiple priorities and meet deadlines.
- Ability to read and understand technical forms and financial reports.
- Strong written and verbal communication skills, including the ability to present complex ideas clearly to both technical and non-technical audiences and to communicate effectively with employees and the executive leadership team.
Preferred Property & Casualty Statutory Specializations
- Statutory insurance accounting.
- Premium and commission accounting.
- Claims accounting and loss reserve analysis.