Statutory Accountant II

Security First Insurance; Ormond Beach (FL); On-site; USD 65,000 - 85,000; Full time

Job summary

Security First Insurance is seeking a Statutory Accountant II in Ormond Beach, Florida. This role involves professional accounting activities related to statutory and reinsurance accounting, financial statement preparation and regulatory reporting. Key responsibilities include preparing NAIC statements and ensuring compliance with regulatory standards.

The ideal candidate will have a Bachelor’s degree in accounting and at least five years of experience in the insurance industry. Collaboration with controllers and external actuaries is essential for success in this role.

Qualifications

• Requires a Bachelor's degree in accounting.
• Five or more years of accounting experience, particularly in the insurance sector.
• Significant knowledge in statutory accounting is essential.

Responsibilities

• Prepare and submit NAIC quarterly and annual statutory statements.
• Record and reconcile reinsurance payables and related accounts.
• Assist with month-end and year-end close processes.

Skills

Statutory accounting

Reinsurance accounting

Financial statement preparation

Regulatory reporting

Risk management

Education

Bachelor’s degree in accounting

Five years of accounting experience

Job description

The Statutory Accountant II performs professional accounting activities for Security First Managers related to statutory and reinsurance accounting, financial statement preparation, and regulatory reporting. This role works closely with the Controller / Chief Financial Officer to determine and record appropriate Incurred But Not Reported (IBNR) liabilities and exposure reserves in the general ledger. The position partners with outside reinsurance intermediaries and actuaries as needed and collaborates with members of the accounting team to support monthly and annual close processes, as well as the preparation of National Association of Insurance Commissioners (NAIC) quarterly and annual statements.

Essential Job Functions Including But Not Limited To

• Record and reconcile net earned premium, written premiums, claims adjusting fees, and related items for EMPA, FIGA, FHCF, CPIC, and MGA activity within the general ledger
• Reconcile and remit CPIC and FHCF assessments
• Record and reconcile reinsurance payables for excess per risk, FHCF, excess of loss, and quota share reinsurance treaties
• Prepare and record monthly reinsurance-related journal entries
• Record and reconcile premium tax payable accounts
• Record net incurred losses and loss adjustment expenses
• Record reinsurance recoverables in the general ledger and provide reimbursement summaries
• Prepare NAIC quarterly and annual statutory statements
• Review accounts receivable balances over 90 days and $500 to ensure statutory compliance and system accuracy; refer eligible balances to collections
• Initiate premium adjustments as necessary
• Prepare and distribute Summary of Results and financial statements for SFIC
• Prepare and submit required regulatory filings
• Assist with timely month-end and year-end close processes
• Support interim and annual audit activities
• Identify and manage existing and emerging risks related to business activities and the role
• Ensure risks are appropriately identified, measured, monitored, and managed in accordance with company policies
• Follow established risk management, compliance, and internal control policies and procedures

Minimum Requirements

• Bachelor’s degree in accounting
• Five (5) years of progressively responsible accounting experience with significant experience in the insurance industry with statutory exposure
• Or an equivalent combination of education, certification, training, and/or experience