Statutory Reporting Specialist (NAIC Compliance – U.S. Health Insurance)

Key Responsibilities

• Prepare, review and deliver quarterly and annual statutory financial statements using the NAIC Health Annual Statement blank and related state attachments for the client’s health-insurance entities.
• Compile, reconcile and submit state-insurance-department exhibits and schedules (investments, affiliation/holding company, intercompany, IBNR/reserves, etc.).
• Liaise with the client’s actuarial, external audit, internal audit and corporate compliance teams to ensure assumptions, reserves, disclosures, and policy-changes are appropriately reflected in the statutory submission.
• Maintain expertise and monitor changes in NAIC model laws/regulations (e.g., ORSA, Holding Company Model, Data Security Model Law), state insurance regulation, and statutory accounting principles (SAP) impacting health insurers.
• Develop and maintain working-papers, reconciliations (SAP to GAAP/US-GAAP if applicable), and audit-ready documentation within the outsourcing engagement framework.
• Drive continuous improvement: template standardization, automation of schedules, metrics tracking, outsourcing-delivery efficiencies, SLA adherence and quality control.
• Serve as the primary escalation point within the outsourcing team for statutory/NAIC-related inquiries and assist in client/regulator inquiries or clarifications.
• Provide training, mentoring and oversight of junior resources in the outsourcing delivery centre dedicated to these statutory/NAIC processes.
• Working knowledge of SSAP’s
• Participate in project work supporting new product lines, entity domiciles, acquisition/integration of licensed insurance entities, helping align statutory reporting design.
• Ensure delivery under outsourcing service KPIs (timeliness, accuracy, cost-efficiency, client satisfaction) while complying with the client’s internal controls, audit and compliance standards.

Requirements

• Bachelor’s degree in Accounting, Finance, Actuarial Science or related discipline. Master’s or MBA a plus.
• Minimum 5-8 years of experience in statutory reporting, regulatory accounting or insurance statutory finance; specifically, experience with U.S. health-insurance statutory filings preferred. For a more senior specialization role, 8-12 years.
• Proven knowledge of: NAIC Health Annual Statement blanks, state insurance department statutory filings, RBC health model, statutory accounting principles (SAP) for U.S. insurers.
• Experience working with U.S. domiciled health-insurance carriers (commercial, Medicaid, Medicare Advantage) or large managed-care organizations is highly desirable.
• Strong analytical skills, attention to detail, ability to interpret regulatory requirements and translate into reporting deliverables.
• Experience working in service delivery model (shared services, captive centre, BPO) preferred, understanding of SLAs, KPIs, delivery centre metrics.
• Excellent stakeholder management and communication skills (working with client-finance, actuarial, auditors, offshore/onsite teams).