Statutory Accounting Manager

You spend at least a third of your day at your job. You might as well spend it doing something you really love while working with a team you really enjoy being with, right? That's the kind of atmosphere we offer at Pekin Insurance-fun, fast-paced, gratifying, supportive, and collaborative.

Of course, it's not all fun and games. Insurance is a serious business, and we pride ourselves on making people's lives whole again after a major disaster or even a fender bender. It's that sense of helping people that makes our team want to do our best every day.

If you want to be excited about starting your workday and are ready to make a real difference in people's lives, this could be the right spot for you.

See what Pekin Insurance has to offer by viewing a short video here.

Position Overview

The Statutory Accounting Manager will oversee and ensure compliance with all statutory accounting principles and regulations while playing a pivotal role in the organization's financial landscape. Their responsibilities will encompass managing the organization's statutory reporting processes, financial statements, and related disclosures to meet the standards set by evolving laws and regulations. With a keen eye for detail and a deep understanding of statutory requirements, this role will serve the organization's property & casualty and life insurance sectors with precision and expertise. Additionally, they will champion a culture of innovation and efficiency, actively seeking opportunities for improvement in processes and practices to drive the organization towards greater success and competitiveness.

Essential Job Functions

Statutory Reporting Oversight:

• Prepares and submits statutory financial statements, including balance sheets, income statements, and cash flow statements, in strict adherence to applicable accounting standards and regulatory frameworks

• Ensures timely and accurate reporting to regulatory bodies such as state insurance departments, coordinating effectively with both internal and external stakeholders, including auditors and regulators

• Reviews and finalizes audit reports, annual reports, and other financial disclosures, ensuring compliance with the NAIC's Statements of Statutory Accounting Principles (SSAPs) and maintaining a high standard of accuracy

Financial Compliance Management:

• Stays abreast of updates to statutory accounting standards and regulations, evaluating their implications for the organization's financial reporting obligations

• Develops and implements robust policies, procedures, and internal controls to uphold compliance with statutory accounting principles and regulatory requirements

• Conducts routine reviews and audits to assess adherence to statutory reporting standards, identifying areas for improvement and implementing corrective measures as necessary

Financial Analysis and Insight:

• Conducts thorough analysis of financial data to identify trends, variances, and potential risks associated with statutory reporting

• Prepares customized financial reports and analyses for senior management, auditors, and regulatory authorities upon request, providing valuable insights to inform decision-making processes

Internal Control Governance:

• Establishes and maintains effective internal controls over financial reporting, ensuring the protection of assets, preservation of data integrity, and mitigation of financial risks

• Monitors compliance with internal control procedures, proactively identifying opportunities for enhancement and recommending appropriate actions to maintain compliance and operational efficiency

• Performs all other duties as assigned

Education & Experience

Required

• Bachelor's degree in accounting, finance, or a related field

• Minimum of 6 years of related experience preferably in the insurance industry

• Four years of experience in leading and managing teams

Preferred or Specialized

• Workday Experience

Certifications & Licenses

• Certified Public Accountant (CPA) or equivalent professional certification preferred

Knowledge, Skills & Abilities

Demonstrated ability in:

• Proficient communication skills demonstrated in both verbal and written contexts

• Proven capacity to identify problems, gather data, derive factual insights, and draw sound conclusions

• Analyzing, organizing, and prioritizing tasks effectively while managing multiple deadlines

• Analyzing, consolidating, and interpreting accounting data for informed decision-making

• Comprehending and extracting insights from accounting literature, financial reports, and legal documents

• Situational analysis and exercising judgment to make critical decisions

• Filing, bookkeeping, recording, and computational tasks

Demonstrated knowledge of:

• Deep understanding of statutory accounting principles, regulations, and reporting requirements, including familiarity with standards such as GAAP or SAP
• Proficiency in utilizing Microsoft Office software for various tasks and analyses