Financial Analyst

About the role

To assist account handlers in processing daily account activity and provide technical support in accordance with company operating procedures.

Responsibilities

• Understand accounting rules and regulations in regards to International & Domestic GAAP Financial Statements
• Understand insurance accounting and its applicability to corporate financials, loans, investments and other financial matters
• Plan and schedule calendar in advance of reporting needs
• Prepare financial statements for captive insurance companies and risk retention groups
• Maintain a strong understanding of Quickbooks as an application platform, prepare financial statements using Quickbooks applications, and communicate that to internal employees as well as outside regulators, auditors and other interested parties
• Understand how to prepare and maintain a general ledger, balance sheet, income statement
• Use various domicile annual reporting systems
• Prepare premium tax returns for various domiciles
• Demonstrate knowledge and understanding of general business issues, including but not limited to, insurance, tax, legal issues, accounting trends
• Effectively monitor and document activity to prevent E&O and other problems and work with client to establish ongoing client service standards
• Maintain account folders in accordance with internal Quality Control guidelines
• Demonstrate high commitment to clients and be proactive in addressing client issues
• Check policy coverages and endorsement on all new business and renewals for accuracy and relevance
• Complete specs, prepare proposals, policy summaries and reviews
• Assist with the sales process where needed, including follow-up with clients, prospects, and outside advisors
• Process endorsements, placement requests and invoicing: Credit, Debit, Monthly reports
• Review policies for accuracy and adequacy of coverage, including rating calculations
• Assist with Accounting department on research and justification of premium charges as compared with endorsements and invoices
• Handle or refer insured's and underwriter's questions
• Perform other specific duties as directed by the Account Executive
• Pursue a program of professional development
• Begin studies for appropriate licenses

Qualifications

• Detail oriented with good mathematical and communication skills
• Ability to understand financial statements
• Good typing skills and computer literacy
• Ability to work within designated time frames
• Good interpersonal skills
• Accounting background preferred

Required Skills

• Strong computer skills; Excel & Word a must
• Quickbooks Experience Preferred

Requirements

• 5-7 years of relevant experience
• Required Travel: Negligible
• Required Education: High school or equivalent