Insurance Accounting Manager, Statutory

Job Title: Insurance Accounting Manager, Statutory  

Location: United States  

Workplace Type: Remote

Job Summary

The future is bright for the Porch Group, and we’d love for you to be a part of it as our Insurance Accounting Manager, Statutory 

The Insurance Accounting Manager, Statutory is responsible for overseeing and managing all aspects of statutory reporting operations within the HOA insurance company. HOA is part of the Porch Group of companies.  This role requires a deep understanding of statutory accounting principles, regulatory requirements, reinsurance contracts, and financial reporting standards specific to the insurance industry. The Insurance Statutory Manager ensures accurate and timely financial reporting, maintains compliance with regulatory bodies, manages reinsurance relationships, and implements effective internal controls.  The Insurance Statutory Manager leads a team of accounting professionals. 

What you will do as an Insurance Accounting Manager, Statutory 

• Lead and oversee a team of employees, providing guidance, support, and mentorship to ensure their success and professional growth. 
• Set clear goals and expectations for team members, and regularly monitor performance to ensure objectives are met. 
• Foster a positive and inclusive work environment, promoting collaboration, open communication, and mutual respect among team members and champion company values.  
• Prepare and review financial statements, including balance sheets, income statements, and cash flow statements, in accordance with statutory accounting principles and regulatory requirements. 
• Responsible for Annual Statement filing, Quarterly Statutory Filings, and monthly Statutory analyses, including MD&A, IRIS and RBC ratios and other related filings.   
• Prepare Federal Income Tax Accrual, review and analyze related accounts and reconciliations for (GAAP and STAT)   
• Responsible for State Premium Taxes, review and analyze returns related general ledger accounts.   
• Investment accounting responsibility   
• Ensure accuracy, completeness, and integrity of financial data and reports. 
• Stay current with regulatory changes and requirements imposed by regulatory bodies such as the Insurance Regulatory Authority. 
• Ensure compliance with statutory reporting requirements and deadlines. 
• Help manage reinsurance contracts and relationships with reinsurers. 
• Coordinate the placement of reinsurance coverage and negotiate reinsurance terms and pricing. 
• Help monitor reinsurance recoverables and ensure timely settlement of reinsurance claims. 
• Develop, implement, and monitor internal controls related to statutory reporting and support reinsurance operations.
• Conduct periodic reviews and assessments of internal controls to identify weaknesses and implement improvements. 
• Coordinate and manage the external audit process with independent auditors. 
• Provide support and documentation during audits and address any audit findings or recommendations related to statutory reporting and reinsurance operations.
• Collaborate with other departments including actuarial, underwriting, and claims to gather necessary data and information for financial reporting and reinsurance operations. 
• Analyze financial data and trends to provide insights into the financial performance of the company and the effectiveness of reinsurance programs. 
• Interpret financial results and communicate findings to senior management and stakeholders. 
• Maintain documentation of accounting policies, procedures, reinsurance contracts, and practices. 
• Prepare and distribute financial reports and reinsurance statements to internal stakeholders and regulatory authorities as required.
• Continuously evaluate and streamline financial reporting and reinsurance processes to improve efficiency and accuracy.  

  

What you will bring as an Insurance Accounting Manager, Statutory  

• Bachelor’s degree in accounting, Finance, or related field. CPA or equivalent certification required. 
• 8+ years of progressive experience in financial reporting and reinsurance operations, in the insurance industry, preferably property and casualty.   
• Strong knowledge of statutory accounting principles, regulatory requirements, reinsurance contracts, and financial reporting standards. 
• Experience with insurance-specific accounting software and reinsurance systems. 
• Excellent analytical, problem-solving, and communication skills. 
• Ability to work effectively in a fast-paced environment and meet tight deadlines. 
• Strong attention to detail and accuracy. 
• Proficiency in Microsoft Office products. NetSuite General Ledger and Oasis knowledge preferred.   

 

The application window for this position is anticipated to close in 2 weeks (10 business days) from April 22, 2024. Please know this may change based on business and interviewing needs.

At this time, Porch Group does do not operate in or consider applicants from the following states for remote positions: Alaska, Arkansas. Delaware. Hawaii, Iowa, Maine, Mississippi, New Hampshire, and West Virginia.

What You Will Get As A Porch Group Team Member 

Pay Range*: $132,000.00 - $184,400.00 annually.

*Please know your actual pay at Porch will reflect a number of factors among which are your work experience and skillsets, job-related knowledge, alignment with market and our Porch employees, as well as your geographic location.  
 
Additionally, you will be eligible to receive long-term incentive awards, subject to program guidelines and approvals. 
 
You will also be eligible to receive an annual bonus based on individual and company performance, subject to program guidelines and approvals. 

Our benefits package will provide you with comprehensive coverage for your health, life, and financial wellbeing.  

• Our traditional healthcare benefits include three (3) Medical plan options, two (2) Dental plan options, and a Vision plan from which to choose.
• Critical Illness, Hospital Indemnity and Accident plans are offered on a voluntary basis.
• We offer pre-tax savings options including a partially employer funded Health Savings Account and employee Flexible Savings Accounts including healthcare, dependent care, and transportation savings options.
• We provide company paid Basic Life and AD&D, Short and Long-Term Disability benefits. We also offer Voluntary Life and AD&D plans.
• Both traditional and Roth 401(k) plans are available with a discretionary employer match.
• Headspace is part of our employer paid wellbeing program and provides employees and their families access to on demand guided meditation and mindfulness exercises, mental health coaching, clinical care and online access to confidential resources including will preparation.
• Brio Health is another employer paid wellbeing tool that offers quarterly wellness challenges and prizes.
• LifeBalance is a free resource to employees and their families for year-round discounts on things like gym memberships, travel, appliances, movies, pet insurance and more.
• Our wellness programs include flexible paid vacation, company-paid holidays of typically nine per year, paid sick time, paid parental leave, identity theft program, travel assistance, and fitness and other discounts programs.

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