LAMMICO Featured Career

Senior Accountant - Reserves/Financial Analyst
Finance Department

Posted: March 28, 2022

Position Summary:
Responsible for all reserve analysis and reporting. Performs financial analysis and interprets financial reports. Develops data management and analysis tools and conducts data analysis to support organizational initiatives and regulatory requirements. Provides general supervision to Accounting Assistants. Assists in the preparation of Annual and Quarterly statements and the Annual Budget.

Reporting Relationship:
Reports directly to the Controller

Essential Functions/Responsibilities - General:

  • Works in a cooperative manner with management, coworkers, customers, and vendors; seeks to support  LAMMICO’s mission and vision in daily operations
  • Contributes to the development of the department’s strategic and operating planning and meets assigned target dates and objectives; helps ensure that department quality, service and productivity standards are met
  • Prepares the reserve (Schedule P) work papers for the Annual and Quarterly Statements
  • Prepares and reviews work papers for the Annual Budget and independent audits
  • Prepares assigned sections of the Management’s Discussion and Analysis for Annual Statement 
  • Performs technical review of certain other journal entries, work papers, bank reconciliations, and other documents prepared by Finance Department staff
  • Prepares and oversees the deductible billing process
  • Attends Investment & Budget Committee (usually 5 scheduled per year) and Audit Committee meetings (usually 5 scheduled per year)
  • Prepares the Key Performance Indicators at the Audit Committee meetings
  • Prepares the Discussion of Quarterly Results for the Audit Committee meetings
  • Prepares miscellaneous reconciliations, analyses and graphs as needed
  • Coordinates with outside actuarial consultants, by providing  claim data and assisting in claim and reserve analysis necessary for financial reporting
  • Responsible for working with outside auditing firm for the annual audit
  • Responsible for updating internal control memo used by outside auditors as it relates to reserves
  • Responsible for working with state examiners for the tri-annual state examination
  • Reviews reports related to claims and payments and works with IT and the Claims Director to resolve any issues
  • Works with IT to develop any reports that are necessary for reserves or preparation of Key Performance Indicators
  • Works in the budgeting and reporting software, as needed

Essential Functions/Responsibilities - Analyst:

  • Interprets and prepares analyses of financial and statistical data
  • Evaluates manual and automated financial accounting work processes, systems, and procedures for efficiency of workflow and conformance to principles of accounting
  • Interacts with IT staff to resolve issues and problems related to platforms to resolve issues and problems 
  • Analyzes premium information for committees and executives
  • Analyzes claim data and off balance data for actuaries
  • Develops and designs a high volume of ad hoc reports and analytical reports for actuaries and to support business decision making process
  • Analyzes sales tax data for compliance
  • Analyzes swing calculations for reinsurance agreements and prepares evaluation of collateral for reinsurance brokers
  • Analyzes and coordinates system reporting with the IT staff
  • Works with the business to understand current needs and how questions can be answered through reporting
  • Monitors data collection processes to ensure integrity and consistency of the data base
  • Provides training and assistance to internal business users in the utilization of reporting tools
  • Prepares insurance financial reports utilizing computer software and completing projects to ensure compliance with federal, state and other regulatory reporting requirements
  • Directs and devises the extraction and analysis of pertinent data that supports financial and regulatory needs of business
  • Involved in set up and report production from information in the Data Warehouse
  • Analysis of collateral requirement from reinsurers

Secondary Functions/Responsibilities:

  • Other responsibilities and special projects as assigned
  • Attends and participates in staff meetings
  • Serves on in-house committees for the Finance Department, as needed
  • Serves as lead on projects
  • Provides back-up support to Senior Accountant in running and maintaining Annual and Quarterly Statement software

Education, Experience and Skills Required:

  • Bachelor’s Degree and CPA required
  • Six years of experience in accounting or auditing
  • Three years of financial analytical experience
  • Strong analytical skills
  • Strong customer focus and team orientation
  • Ability to appropriately handle confidential and sensitive company information
  • Commitment to continuing industry and individual functional education
  • Strong decision making skills
  • Excellent communication skills with the ability to interact and work effectively with employees at all levels within the organization 
  • Ability to manage time, set priorities and work independently; ability to organize, analyze, and interpret information
  • Proficiency in the use of Microsoft Office Programs, including advanced proficiency in Excel
  • Experience with retrieving and processing data from data warehouse

Education, Experience and Skills Desired:

  • Insurance industry experience 
  • Experience with Solomon software 
  • One to two years public accounting experience, preferably with one of the “big four” firms

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