What are the responsibilities and job description for the Statutory Divisional Assistant Controller position at Trean Corporation?
Description
POSITION SUMMARY:
The Statutory Divisional Assistant Controller works directly with accounting, key business partners, and departments across the company to manage, allocate and monitor financial resources in compliance with laws, regulations and policies, with sufficient transparency and appropriate internal controls to ensure the resources are efficiently applied to meet organizational goals and objectives.
This individual has extensive knowledge of general ledger transactions, monthly close checklist items and daily accounting tasks and reconciliations as well as valuable communication with various levels of customers and management. This individual has advanced knowledge of insurance and reinsurance structure and ability to read and interpret contract terms on complex programs.
This position includes supervisory responsibilities. This position works under the direction of the Statutory Divisional Controller.
KEY RESPONSIBILITIES AND ESSENTIAL FUNCTIONS:
- Assist in the preparation and submission of quarterly and annual statutory financial statements in accordance with NAIC and state insurance department requirements.
- Support the statutory close process, including journal entries, account reconciliations, and variance analysis.
- Collaborate with actuarial, tax, and legal teams to ensure completeness and accuracy of statutory filings.
- Maintain documentation and schedules to support statutory audits and regulatory examinations.
- Monitor changes in statutory accounting principles (SAP) and assess their impact on financial reporting.
- Assist in the preparation of management reports and dashboards related to statutory financial performance.
- Participate in the development and implementation of process improvements and automation initiatives.
- Ensure compliance with internal controls and company policies related to statutory reporting.
- Provide support for ad hoc projects, including mergers and acquisitions, system implementations, and regulatory inquiries.
- Assists in the preparation of internal financial statements and statutory statement filing
- Assists in the ledger management of new entity acquisitions and org chart changes as well as new partner programs
- Assists in identifying manual processes for automation to improve efficiency. Identify process improvement opportunities, including those related to automation using available technologies
- Assists in the design, documentation and implementation of processes and controls including key program metrics
- Refines and manages the control process ensuring all significant balance sheet and income statement accounts are reconciled and thoroughly reviewed.
- Is responsible for all compliance associated with ASC 606 revenue recognition rules and new accounting guidance
- Performs review of other staff accountants work as needed including funding and actuarial exhibits
- Assists in reviewing employee expense report and corporate expense approval and processing
- Manages the annual audit process and works closely with external auditors and state regulators to complete exams
- Manages the statutory preparation and filing process
- Collaborates with other accounting team members and the broader accounting team on project goals
- Assists in managing banking relationships and assists in security setup
- Maintains professional and technical knowledge by attending educational workshops, reviewing professional publications, participating in professional societies
- Mentors accounting staff and business users on Microsoft GP, Prospero, Wings, Eolas-Data Reporting and accounting concepts, techniques, technology and processes
- Performs other activities, duties and assignments as needed or requested.
Requirements
QUALIFICATIONS
- Bachelor’s degree in Accounting or related field or equivalent experience
- Previous experience in financial services and/or insurance required
- 10 years’ progressive accounting responsibility
- 10 years’ experience working with a general ledger package
- 10 years’ experience working with transactional and subledger systems
- 10 years’ experience working with statutory reporting software such as TCP/Wings
- Experience in troubleshooting and resolving reconciliation, ledger and reporting issues
- Experience in effectively managing staff of 3 or more
- CPA preferred
SKILLS
- Insurance industry knowledge and a working knowledge of insurance systems (policy & claim) preferred
- Ability to multi-task and learn quickly
- Ability to self-start and research independently
- Ability to handle and resolve conflicts in a professional, tactful manner
- Excellent oral and written communication skills
- Attention to Attention to detail and organizational skills
- Strong sense of accountability, comfortable making recommendations and taking accountability for outcomes
- Working knowledge of transactional systems such as Microsoft GP, Prospero, W-Desk and Wings preferred
- Ability to meet deadlines in a multi-priority, fast-paced environment both independently and within a team environment
- Knowledge of best internal control practices, GAAP and STAT policies preferred
- Ability to define problems, collect and analyze data, establish facts, draw valid conclusions and recommend solutions
- Computer skills including knowledge of Microsoft Office
- Advanced skills in Excel (Formulas like INDEX-MATCH and OFFSET, Pivot Tables, Power Pivot, Power Query, reading and writing MACROS)
CONFIDENTIAL INFORMATION
All information (written, verbal, electronic, etc.) that an employee encounters while working at Trean is considered confidential.
WORKING CONDITIONS
This position is located in Wayzata, MN in a professional office environment. This role routinely uses standard office equipment and requires the physical demands of a normal office position with some light lifting. This is a full-time position with benefits. This position may require longer hours and weekend work when necessary. Some travel may be required.
DISCLAIMER
This job description is not a contract of employment. It represents the minimum requirements of the job and includes the major responsibilities but not all responsibilities. Trean will change and update this job description, as necessary.
Trean will not sponsor applicants for work visas.
Salary : $125,000 - $145,000