You are viewing a preview of this job. Log in or register to view more details about this job.

Financial Analyst -Statutory Financial Reporting

Responsibilities

The Financial Analyst will be responsible for Berkley Insurance Company’s (BIC) and its 25 subsidiaries, assisting in the accurate preparation and timely filing of all statutory reporting requirements including:
  • Annual, quarterly and supplemental reports and electronic filings with the NAIC. Supplemental NAIC filings include: Risk Based Capital, Insurance Expense Exhibit, Supplemental Investment Risk Interrogatories, Supplement A to Schedule T, Director and Officer Insurance Coverage Supplement, Accident and Health Policy Experience Exhibit, Cyber Security and Identity Theft Supplement, and other supplements required by the NAIC statement instructions.
  • Completion of Management Discussion and Analysis.
  • Related annual and quarterly ancillary state reports.
  • M. Best annual and quarterly filings.
  • Other electronic filings as required by states and regulatory authorities.
 
The position will also be responsible for the following:
  • On a quarterly basis, reconcile investment schedules provided by Corporate Investments to legal entity general ledger accounts for BIC and its subsidiaries.
  • On a quarterly basis, perform analysis of legal entity balance sheet accounts to identify unusual variances for all subsidiary companies administered by BFINS.
  • On a quarterly basis, prepare statutory journal entries including: non-admit assets, affiliate gross up and affiliate common stock valuation journal entries.
  • On a quarterly basis, prepare and accumulate data requests from the companies profit centers.
  • As required by Corporate but not more than quarterly, perform Schedule F verification upload procedures for the BIC and its subsidiaries administered by BFINS.
  • Develop SmartView reports, as requested, to facilitate: the identification and correction of irregularities during the statutory compilation and reporting process, and add efficiencies to the statutory reporting process.
  • Maintain existing SmartView reports that facilitate analysis and reporting with internal stakeholders.
  • Coordinate with Berkley Technology Services and Wings to assure the accuracy of the Wings interface.
  • Develop and implement testing plans for application system updates (primarily Wings and Peoplesoft).
  • Maintain existing and develop new macros as the business requires
  • Provide appropriate supporting documents in a timely and responsive manner for state financial exams or audits, as requested.
  • Identify and resolve reporting issues on state pages, as needed.
  • Complete Sub-1 and Sub-2 Affiliated Investment filings with the NAIC
  • Record and reconcile operating results by accident year for the companies non-voluntary reinsurers
  • Other assignments and responsibilities as assigned.

Qualifications
Education & Experience:
  • Bachelor Degree in Accounting from four year college or university; two to five years accounting experience; property and casualty or public accounting experience preferred.
  • Advanced skills in Excel, Hyperion and Smartview reporting with the ability to analyze results
 
Common Competencies:
  • Accountability – Takes responsibility for actions and work product by owning successes and failures. Acts with a sense of urgency. Understands the impact of his/her actions and decisions. Completes assignments on time. Partners with others both within and outside the immediate team to solve problems and create successful outcomes.
  • Customer Focus & Teamwork – Listens, understands and effectively responds to internal/external customer needs. Balances customers’ expectations and requirements with corporate, legal and regulatory guidelines. Establishes and maintains effective relationships with customers and gains trust and respect. Open to diversity of thoughts and perspectives. Gains trust and support of others by treating them with respect and dignity.
  • Innovation and Initiative – Seeks to develop new ideas or work methods and takes advantage of opportunities that result in better business performance. Meets challenges with creativity and resourcefulness. Identifies, analyzes and takes steps to resolve problems.
  • Flexibility – Demonstrates a willingness to embrace new systems, processes, technology and ideas. Adjusts to rapidly changing tasks and situations in order to respond to a changing business environment or priorities. Maintains composure when faced with challenging situations. Accepts constructive criticism and feedback.
  • Communication – Writes clearly in a variety of communication settings and styles and can effectively convey information in a way that has the desired effect. Verbally presents information, ideas and concerns so that others understand what is being communicated. Shows willingness to listen, understand and reflection what others are saying. Keeps people informed by providing the information they need to effectively do their jobs.