Sr Accountant, Financial Reporting - Regulatory

UFG Insurance; Cedar Rapids (IA); On-site; USD 71,000 - 94,000; Full time

Benefits offered by this job

Annual incentive

Health benefits

Retirement plan

Generous time off

Job summary

UFG Insurance seeks a Sr. Accountant to support the preparation, analysis, and reporting of statutory financial statements and regulatory filings. Collaborate with Finance teams to ensure accuracy and compliance with accounting principles and company policies.

The ideal candidate has strong statutory reporting skills, attention to detail, and the ability to work independently while contributing to a collaborative team. CPA or progress toward certification preferred.

Qualifications

• Bachelor's degree in Accounting is required.
• CPA or progress toward certification preferred.
• MBA or Master's in Accounting preferred.
• 5 years of financial reporting or insurance accounting experience.
• Experience with statutory financial statements and regulatory filings.
• Experience in property and casualty insurance preferred.

Responsibilities

• Prepare and review quarterly and annual statutory financial statements and regulatory filings.
• Analyze statutory results, variances and trends.
• Support capital adequacy calculations (RBC/BCAR) and disclosures.
• Assist with audit requests and internal controls testing.
• Support process improvements and automation in reporting.
• Mentor teammates and share statutory accounting best practices.

Skills

Statutory accounting

Analytical skills

Regulatory reporting

Excel proficiency

Cross-functional collaboration

Education

Bachelor's in Accounting

CPA or progress toward CPA

MBA/MSA preferred

Tools

Financial systems

Subledger systems

Job description

UFG is currently hiring a Sr. Accountant who will be responsible for supporting the preparation, analysis, and reporting of the Company’s quarterly and annual statutory financial statements, regulatory filings, capital calculations, and related regulatory reporting deliverables. This role ensures the accuracy, completeness, and integrity of financial information in accordance with statutory accounting principles, regulatory reporting requirements, and company policies.

Working closely with Financial Reporting leadership, Financial Accounting, Investments, FP&A, Actuarial, Reinsurance, Tax, and other Finance teams, the Senior Accountant supports the preparation of statutory financial statement disclosures, supporting schedules, regulatory filings, and capital adequacy calculations. This position also assists with statutory financial analysis, internal controls, process improvement initiatives, audit and regulatory examination support activities, and, as needed, statistical and premium tax filings. The ideal candidate demonstrates strong statutory financial reporting skills, attention to detail, analytical capabilities, and the ability to work independently while contributing to a collaborative team environment.

Essential Duties And Responsibilities

Financial Reporting - Regulatory

• Prepare and support the review of quarterly and annual consolidated financial statements, regulatory filings, financial statement disclosures, supporting schedules, capital adequacy calculations, and related reporting documentation, ensuring compliance with statutory accounting principles and regulatory reporting requirements.
• Analyze statutory financial results, balances, and trends and investigate unusual fluctuations or reporting variances.
• Prepare and support the review of assigned components of capital adequacy calculations and filings, including Risk-Based Capital (RBC) and Best’s Capital Adequacy Ratio (BCAR).
• Support assigned statistical and premium tax filing activities, as needed.
• Assist with implementation of new statutory accounting guidance, accounting policies, and regulatory reporting requirements.
• Prepare select journal entries and account reconciliations related to assigned financial reporting responsibilities.
• Prepare documentation supporting regulatory reporting conclusions, capital calculations, and disclosure requirements.
• Maintain current knowledge of statutory financial reporting requirements, regulatory developments, industry trends, and best practices.

Governance & Controls

• Maintain SOX-compliant documentation, ensuring adherence to company policies and internal control requirements.
• Assist with audit requests, including internal controls and testing evidence.

Collaboration & Process Improvement

• Participate in continuous improvement initiatives aimed at optimizing processes, standardizing reporting, and automating data flow.
• Mentor other team members by sharing knowledge and modeling best practices in statutory accounting and regulatory financial reporting.
• Support system enhancements and testing related to accounting or financial reporting applications.
• Collaborate with cross-functional teams including operations and IT to support finance transformation initiatives designed to modernize systems and standardize financial processes.
• Perform other duties as assigned to support the finance department and company goals.

Education

Job Specifications:

• Bachelor's degree in Accounting
• Certified Public Accountant (CPA) or progress toward certification preferred
• Master's degree in Accounting or MBA preferred

Experience

• 5 years of financial reporting or insurance accounting experience.
• Prior experience within property and casualty insurance preferred.
• Experience preparing or supporting statutory financial statements, regulatory filings, capital calculations, and related disclosures.

Knowledge, Skills & Abilities

• Strong understanding of statutory accounting principles and statutory financial statement presentation requirements.
• Knowledge of regulatory reporting requirements, capital adequacy calculations, and related disclosure practices.
• Strong analytical and problem-solving skills with attention to accuracy and detail.
• Advanced proficiency in Microsoft Excel (pivot tables, VLOOKUP, complex formulas).
• Experience with financial systems and subledgers desirable.
• Excellent communication and collaboration skills across cross-functional teams.
• Ability to manage multiple priorities, meet deadlines, and work effectively in a dynamic environment.
• Demonstrated ability to work both independently and collaboratively in a team setting.
• Process improvement mindset with ability to identify and implement efficiency enhancements.
• Critical thinking skills and sound professional judgment.
• Strong organizational skills and attention to detail.

Working Conditions

• General office environment
• Travel Requirements: Infrequent travel, only as needed

Pay Transparency Statement

UFG Insurance is committed to fair and equitable compensation practices. The base salary range for this position is $71,000 - $94,396 annually, which represents the typical range for new hires in this role. Individual pay within this range will be determined based on a variety of factors, including relevant experience, education, certifications, skills, internal equity, geography and market data.

In addition to base salary, UFG Insurance offers a comprehensive total rewards package that includes:

• Annual incentive compensation
• Medical, dental, vision & life insurance
• Accident, critical Illness & short-term disability insurance
• Retirement plans with employer contributions
• Generous time-off program
• Programs designed to support the employee well-being and financial security.

This pay range disclosure is provided in accordance with applicable state and local pay transparency laws.