Financial Controller

Controller

The Controller will be responsible for managing financial statements, utilizing analytical skills, overseeing financial reporting, overseeing (3) Accounting Staff, and handling accounting tasks daily.

Position Summary 

The Financial Controller is responsible for overseeing all financial and accounting activities within the insurance company, with a strong focus on statutory accounting principles (SAP) as required by regulatory bodies. This role ensures that financial statements comply with statutory guidelines, monitors compliance with all regulatory requirements, and provides leadership to the accounting team. The Controller will work closely with senior management, auditors, and regulatory authorities to maintain accurate financial reporting and ensure the company meets all statutory obligations.

Primary Responsibilities

• Prepare and oversee the preparation of accurate and timely financial statements in accordance with Statutory Accounting Principles (SAP).
• Ensure compliance with NAIC (National Association of Insurance Commissioners) reporting requirements.
• Coordinate the preparation and submission of quarterly and annual statutory financial reports.
• Collaborate with external auditors and regulatory bodies during audits and examinations.
• Ensure the company complies with all insurance-related financial regulations, including solvency requirements, capital adequacy, and reserving.
• Stay updated on changes in statutory regulations and make necessary adjustments to accounting practices.
• File necessary documentation with state insurance departments and other regulatory bodies as required.
• Maintain and oversee the general ledger system, ensuring the accuracy of all entries and compliance with both statutory and GAAP (Generally Accepted Accounting Principles) standards.
• Implement and monitor internal financial controls and processes to safeguard the company’s assets.
• Manage reconciliations of statutory balances and reserves, ensuring proper valuation and compliance with regulatory standards.
• Lead the accounting department and ensure the team's training in statutory accounting principles and regulations.
• Provide strategic financial advice to the leadership team regarding statutory and GAAP reporting impacts on business decisions.
• Work closely with other departments such as underwriting, claims, and actuarial to ensure accurate financial reporting.

Qualifications

• Bachelor’s degree in Accounting, Finance, or a related field with CPA designation.
• 5+ years of experience in accounting or finance within the property and casualty insurance industry.
• Strong knowledge of Statutory Accounting Principles (SAP) and GAAP.
• Familiarity with NAIC requirements and insurance regulatory environments.
• Experience with general ledger systems and financial reporting software.
• Excellent leadership, organizational, and analytical skills.
• Strong attention to detail and the ability to communicate complex financial information clearly.