Director - Finance

About the role

The Director – Finance role supports the Assistant VP, EVP–CFO, and the Accounting Department by leading and contributing to complex accounting, compensation, and software-related projects and tasks. Key responsibilities include overseeing accounting planning and implementation for the creation of two new insurance subsidiary companies, completing a general ledger upgrade, reviewing long-term incentive and other non-qualified plan calculations, and preparing Annual Statements and Quarterly footnotes.

Responsibilities

• Assist and support the implementation of new accounting, tax, and financial software packages, including user testing, documentation, and end-user training as needed.
• Review monthly long-term incentive and other non-qualified plan accruals, quarterly participant statements and payment schedules; review Rabbi Trust custodial accounts and funding/payments; work with external CPA firm to ensure compliance with the Plans; prepare investment return exhibits for alternative investment options; assist with annual budget process for non-qualified compensation expenses; ensure internal documentation for future use is organized and up to date.
• Represent and help to execute accounting’s pre and post implementation needs on large accounting-related projects. Current projects include creation of two new insurance company subsidiaries for workers’ compensation pricing and other flexibility as well as obtaining licensure in new states for workers’ compensation (and other lines potentially). Also, assist with accounting software implementations and upgrades.
• Lead the annual contingent commission process in early to mid-January. This includes running specific computer jobs, reconciling schedules to key general ledger data, verifying statements/calculated amounts, and preparing accruals and account analyses. Requires coordination/communication with Distribution, Actuarial and IT. Prepare monthly contingent and special commission accruals and requests for quarterly payments, as needed.
• Assistance with documenting taxable compensation, travel, entertainment and gift deductions for board members and employees. Assist with year-end 1099 reconciliation, review, and issuance for key contractors.
• Coordinate the replacement of custodial bonds as they mature to support required state deposits.
• Prepare Quarterly and Annual Statement Notes, import data to update A.M. Best QAR/Galley file and complete Current Expected Credit Losses (CECL) review process for Accounts Receivable and Reinsurance Recoverable.
• Annually, perform the key reviews for reserve discounting workpapers, Annual Statement Notes and Schedule P, guaranty fund accrual, pools for actuarial, Reinsurance Summary, Management Discussion and Analysis (MD&A) and A.M. Best SRQ. This position also performs a peer company compensation analysis using insurance department filings.
• Serve as backup for daily underwriting profit calculation.
• Lead the required tri-annual Michigan Catastrophic Claims Association (MCCA) audit process from auditor selection and approval to receipt of report and resolution of findings or questions.
• Assess and communicate the impact of new statutory guidance for Disclosure Committee on a quarterly basis.
• Prepare draft materials and exhibits for meetings, and perform related reviews, reconciliations, and analyses as needed.
• Perform other duties as assigned.

Requirements

Regular and predictable attendance.

Qualifications

• Bachelor’s Degree in Accounting.
• CPA license required.
• Minimum of 5 to 7 years property and casualty insurance accounting (statutory and GAAP).
• Knowledgeable in both statutory and generally accepted accounting principles (GAAP), including preparing and reviewing Annual Statement schedules and Notes.
• Strong analytical and Excel skills, with a solid understanding of general ledger and related accounting systems, including reporting software.
• Experience working with non-qualified and deferred compensation plans.
• Proficiency with Microsoft Office 365, including Word and Teams.
• Strong critical-thinking and problem-solving skills are required; this role requires the ability to effectively handle tasks or issues new to the department/organization with minimum supervision.
• Maintain 100% confidentiality for sensitive data.
• Attention to detail and strong organizational skills.
• Able to meet deadlines accurately and efficiently.
• Excellent verbal and written communication skills, with ability to work effectively with all levels of the organization.
• Able to manage multiple responsibilities with competing priorities.
• Able to analyze financial and non-financial data.

Benefits

A comprehensive benefits package, including a generous 401(k) contribution, medical, dental, vision, life and disability insurance, paid time off, an Employee Assistance Program, and more.