Position Summary: Banking activities like setting up new accounts, adding new signatures, bank reconciling items, banking fees, positive pay exceptions, etc. Prepare journal entries and reconciliations for monthly general ledger close. Prepare and distribute financial statements. Ensure that all deliverables comply with regulatory guidance and professional standards. Conduct external audit and DOI examination.
Duties and Responsibilities:
- Perform accounting functions as assigned including, but not limited to book, reconcile and report in-force premium, direct written premium and loss fund balance, retro accrual, cash, cash applied to A/R, bad debt allowance and non-admitted A/R on a monthly basis as well as for any GAAP vs. STAT differences.
- Back-up month-end duties assigned to other Senior Accountants.
Reporting & Analysis:
- Assists in preparation of monthly management report and accompanying schedules, worksheets and narratives, including “Budget vs. Actual” variance reports. Assist in providing follow-up and documentation of significant variances.
- Assist with completion of the quarterly and annual regulatory filings; preparation of assigned Quarterly and Annual Statutory Statement pages/schedules.
Audits & Examinations:
Assist with annual external audit and DOI examination. Complete requested materials. Assist in preparing assigned schedules for the annual and interim audit.
Assist with testing and receive final approval for system reports required for management, financial reporting and general ledger reconciliations.
- Coordinate and resolve various issues with bank such as cleared check differences, bank fee anomalies, targeted balance calculations and enhancements to online services.
- Monitor positive pay exceptions.
- Bank liaison.
- Thorough understanding of Generally Accepted Accounting Principles (GAAP). Knowledge of Statutory accounting principles.
- Strong analytical and accounting skills.
- Intermediate to advanced experience with MS Word, MS Excel, MS Outlook and FRx or similar programs.
- Intermediate to advanced knowledge of major accounting software packages for both general ledger and statutory accounting.
- Must be able to effectively handle multiple projects simultaneously in a deadline driven environment.
- Excellent verbal, written communication and interpersonal skills.
- Ability to work independently and as part of a team and take on new tasks with high level of difficulty.
- The individual will be expected to work with minimal up-front guidance and take ownership of his / her work product. The individual will work closely with all major functional leaders of the Company.
Bachelors of Science in Accounting or equivalent from an accredited university.
Four to six years progressively responsible experience in the accounting and insurance industry.