Your key responsibilities
- Prepare and review quarterly and annual statutory financial statements, including Risk-Based Capital (RBC) filings, April supplementals, and other NAIC-required schedules.
- Preparation of statutory filing with state regulators.
- Compile and validate supporting schedules, exhibits, and footnotes for NAIC filings.
- Ensure compliance with NAIC Accounting Practices and Procedures Manual and state-specific requirements.
- Maintain documentation of differences between US GAAP and NAIC SAP and perform GAAP-to-STAT adjustments.
- Ensure maintaining accurate financial records for regulatory reporting.
- Collaborate with external auditors and regulators during statutory audits and respond to inquiries related to statutory financial reporting.
- Monitor changes in statutory accounting regulations and standards to ensure ongoing compliance
- Collaborate in responding regulatory comments and ongoing communication with state insurance departments
- Assistance in development of internal documents, processes, controls, SOPs, flow charts, checklists, etc. to ensure training and support smooth processing of transactions.
- Identify scope for automation of activities and suggest tools and solutions
- Ensure adherence and meeting the KPIs and SLA
- Receive direction from the Manager and Senior Manager
- Maintain effective coordination with multiple stakeholders
- Build the necessary documents like SOPs and other end user training materials
- Ensure quality in delivering client service by directing daily progress of fieldwork, informing Supervisors of engagement status
- Follow through on client requests in a timely fashion, and manage expectations regarding the timing of deliverables and reports
- Supporting the development and management of the relationships with external and internal (EY) clients
- Demonstrate a good understanding of accounting concepts; stay informed of professional standards and firm policies (e.g., guidelines of the EY FAAS Policy Manual); and effectively apply this knowledge to moderately difficult and/or complex client situation
Skills and attributes for success
- Experience with insurance statutory financial reporting including familiarity with NAIC reporting schedules, risk-based capital calculations, and audit support.
- knowledge of key important concept of insurance reporting (e.g., Reinsurance, Type of Reinsurance, Separate Accounts, General Account, Asset Valuation Reserve, Interest Maintenance Reserve and Protected Accounts) will be value added
- Understanding of reinsurance accounting, loss reserves, premiums, and operational expenses according to statutory requirements.
- Experience with accounting software(e.g., SAP, Oracle) and reporting systems (e.g., GAIN, Wings) is advantageous.
- Ability to work in a deadline-driven environment, manage regulatory compliance, and maintain high accuracy.
- The ability to work independently in a fast-paced, dynamic team-oriented environment.
- Strong communication skills for collaboration with management, auditors, regulators, and internal stakeholders
- Analytical skills to interpret complex financial data and prepare detailed financial and regulatory reports.
- Ability and comfort level in researching client inquires and emerging issues, including regulations, industry practices and new technologies
To qualify for the role, you must have
- CA, ACCA (UK), CPA, MBA or other relevant qualification
- 3- 6 years relevant experience including experience in Financial Reporting(US GAAP/Statutory Accounting Principal
Ideally, you ll also have
- Proficiency in MS - Excel, MS - Office.
- Knowledge on any Data analytics/visualisation tools will be additional advantage.
- Flexibility and willingness to travel on short notice, as necessary
- Good communication, Interpersonal, Analytical Skills highly proactive in approach
