Business Analyst for Finance Operations

2 weeks ago

Urbana, Illinois, United States Assurant Full time
Position Overview


This role is pivotal in the development and upkeep of business system control tables and financial mapping tables, which facilitate the generation of journal entries for integrating underwriting outcomes into the financial system for both GAAP and Statutory reporting.

The position involves reconciling financial reports during client transitions to new and existing business systems while documenting the financial outcomes.

Engagement in user acceptance testing for system modifications is essential, collaborating with IT on enhancements or client programs transitioning to business systems.

Additionally, this role includes conducting peer reviews and quality control support for other Business Analysts and/or Senior Business Analysts within the Finance Business Systems team.

Maintaining relevant documentation related to controls and tasks is crucial. The analyst will address inquiries regarding financial interfaces from financial analysts in accounting/finance and collaborate with other departments to implement new client programs and adjust tables for existing ones. The role also supports process improvement initiatives and provides constructive feedback on proposed changes to enhance efficiency. Furthermore, the analyst will assist with financial interface results and audit requests related to the same, with a focus on third-party administered (TPA) clients and programs. Typically, this position operates independently under general supervision.

Key Responsibilities


1. Participate in the design and execution of new client program migrations to the AIM business system, as well as historical client program migrations from legacy systems.

2. Verify system data and calculations, reconciling financial interface journals to anticipated results.

3. Compile User Acceptance Testing (UAT) documentation for evaluating client data conversions and new client implementations, preparing management presentations for implementation approval.

(35%)

4. Create, maintain, test, and secure business system control tables and financial system interface mapping tables that generate journal entries for both existing and new client program business results.

5. Conduct UAT when control tables, financial system interface tables, or programs are modified in the UDB and/or AIM. (25%)
6. Engage in peer reviews of work completed by colleagues in the Finance Business Systems team. Investigate, rectify, and mitigate errors found in control or interface tables. (10%)
7. Analyze program results to provide support to the finance team regarding business system and interface journal entries. Ensure financial business system interfaces comply with GAAP and statutory requirements. Reconcile data retrieved by IT staff for internal or external audit requests against expected results. (10%)
8. Compile and maintain process and procedure documentation. Recommend and propose modifications and enhancements to existing procedures and processes to management. (10%)
9. Prepare documentation for IT to extract data for internal/external audit requests and reconcile expected versus actual results. (5%)
10. Communicate the status of assignments and projects to management and TPA team members. (5%)
11. Undertake additional duties and participate in special projects as assigned by management.

Qualifications

Education, Certifications, and Experience:
Entry-level to intermediate understanding of accounting/finance practices and principles, supported by a B.S. in Accounting or Finance
Minor in Information Technology
Minimum of 2 years of experience in accounting or finance.

Knowledge, Skills, and Abilities:
Comprehension of database theory
Demonstrated understanding of accounting/finance principles.
Strong verbal and written communication skills
Proficient in Microsoft Excel and Word
Effective time management skills to maintain focus and meet deadlines
Able to handle multiple tasks and assignments
Adaptable to changing priorities
Strong problem-solving capabilities
Meticulous attention to detail
Ability to work efficiently in a team environment
Goal/results-oriented

Preferred Skills/Experience:

Education, Certifications, and Experience:
B.S. in Information Technology
Familiarity with insurance terminology
Experience in insurance accounting is advantageous
Minimum of 2 years of experience working with databases
Experience with SharePoint, Microsoft PowerPoint, and Access is a plus
Experience with business systems and/or Enterprise Resource Management systems is beneficial.

Compensation:
$59,000 - $98,800.00


Any posted pay range considers a wide range of compensation factors, including candidate background, experience, and work location, while also allowing for salary growth within the position.

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