Insurance Accounting Specialist

2 weeks ago


Clearwater, United States Southern Guaranty Insurance Company Full time

Comprehensive Benefits Package:

Our full-time employees enjoy a variety of benefits tailored to enhance their well-being:

  • Health Coverage: Two flexible medical plans available.
  • Dental & Vision: Extensive coverage provided by Sun Life, with vision costs covered by the company.
  • Health Savings Account (HSA): Pre-tax contributions to help manage healthcare expenses.
  • Flexible Spending Accounts (FSA): Options for medical and dependent care expenses.
  • Life & Disability Insurance: Company-paid coverage with options for additional protection.
  • Generous Paid Time Off (PTO): Along with additional paid holidays.
  • Employee Assistance Program (EAP): Support for wellness and personal challenges.
  • 401k Retirement Plan: Opportunity to participate with company matching after meeting eligibility.
  • Frequent Employee Recognition: Ongoing appreciation and celebration throughout the organization.
  • Paid Training: Investment in employee development.
  • Dynamic Work Environment: A challenging and motivating atmosphere.
  • Career Advancement Opportunities: Clear pathways for professional growth.
  • Competitive Compensation: Attractive pay and benefits package.
  • High Employee Retention: A testament to our supportive workplace.
  • Collaborative Team Culture: Emphasis on teamwork and cooperation.
  • Visibility with Management: Opportunities for interaction with senior leadership.
  • Convenient Location: Easily accessible from various areas.

Position Overview:

The Insurance Accounting Specialist applies both Statutory and GAAP accounting principles to generate financial reports and analyze financial data.

Key Responsibilities:

  • Compile and analyze financial data to prepare journal entries for accounts, including general ledger accounts, while documenting business transactions.
  • Demonstrate a solid understanding of earned, assumed, and ceded premiums and their recording on financial statements.
  • Prepare NAIC quarterly and annual reports.
  • Generate reinsurance settlement statements.
  • Calculate and file quarterly Premium Tax for various licensed states.
  • Distribute expenditures, encumbrances, receipts, and receivables according to established schedules.
  • Conduct statistical analyses to identify trends and significant changes, accompanied by narrative reports explaining findings.
  • Perform variance and ratio analysis, presenting results to upper management.
  • Execute detailed reconciliations for cash and intercompany loan accounts to ensure balance in the accounting system.
  • Analyze financial data to prepare balance sheets, profit and loss statements, and other reports summarizing the company's financial position.
  • Audit contracts, orders, and vouchers, preparing reports to substantiate transactions prior to settlement.
  • Determine appropriate handling of financial transactions and approve transactions within designated limits.
  • Monitor compliance with GAAP, SAP, and company policies.
  • Review and correct errors in financial entries, documents, and reports.
  • Implement and coordinate accounting systems and control procedures.
  • Continuously seek process improvements and automation opportunities.
  • Design and maintain pro formas for contracts to assess pricing and profitability.
  • Provide recommendations on accounting for reserves, assets, and expenditures.
  • Conduct studies and propose enhancements for the accounting operations.
  • Gather data and prepare federal, state, and local reports and tax returns.

Additional Responsibilities:

  • Adhere to company policies and procedures.
  • Maintain confidentiality of client, company, and personnel information.
  • Demonstrate commitment to the organization's mission and values.
  • Comply with company attendance standards.
  • Perform other assigned duties as necessary.

Supervisory Responsibilities: None

Required Competencies:

  • Strong organizational and interpersonal abilities.
  • Excellent written and verbal communication skills.
  • Detail-oriented with a focus on accuracy.
  • Ability to manage multiple tasks and work independently.
  • Task-oriented and capable of meeting deadlines.

Qualifications:

  • Minimum of one year of experience in the insurance industry.
  • At least two years of accounting experience required.
  • One year of experience in Statutory accounting is necessary.
  • One year of GAAP accounting experience is required.

Education:

  • Bachelor's degree in Accounting is required.
  • LOMA or other insurance industry designations are advantageous.

Computer Skills:

Proficiency in MS Word, Access, PowerPoint, and Outlook. Advanced Excel skills are essential. Experience with QuickBooks is a plus. Familiarity with commission reporting software such as APL and/or Clearwater Analytics is beneficial.

Work Environment:

This position is primarily office-based. Duties require maintaining effective communication with customers and employees, accessing and entering information into computer systems, and performing data entry tasks. The role may involve repetitive motions such as typing and data entry, as well as physical activities like bending, reaching, kneeling, and lifting up to thirty (30) pounds.



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