Statutory Financial Reporting Analyst

Hawaii Medical Service Association; Honolulu (HI); On-site; USD 70,000 - 90,000; Full time

Job summary

Hawaii Medical Service Association is seeking a Statutory Financial Reporting Analyst / Financial Reporting Specialist in Honolulu, HI. The role prepares statutory financial statements, quarterly reports and supplemental schedules in compliance with SAP and GAAP, coordinating with underwriting and accounting teams.

Responsibilities include maintaining SAP records, recording journal entries, and assisting auditors with detailed schedules.

Qualifications

• Bachelor's degree in Accounting or related field required.
• Knowledge of GAAP and SAP accounting principles required.
• Effective verbal and written communication skills.
• Financial analysis skills.
• Project coordination and documentation skills.
• Intermediate MS Office knowledge (Word, Outlook, Excel, PowerPoint).
• Familiarity with database manipulation software or data entry experience.

Responsibilities

• Prepares the Annual Statement for the State of Hawaii Insurance Division (DCCA) with SAP principles.
• Prepares Quarterly Statements for 1st, 2nd, and 3rd quarters and ensures timely filing.
• Prepares supplemental reports (RBC, MD&A, etc.) for both quarterly and annual filings.
• Maintains SAP-based accounting records and prepares related journal entries; reconcile GAAP to SAP balances.
• Produces reports for BCBSA (QFR, liquidity ratio, RBC, budget) and assists with online submissions.
• Provides auditors with schedules and explanations for GAAP to SAP adjustments; supports audit processes.
• Performs other duties as assigned.

Skills

Financial reporting

Accounting knowledge

Communication skills

MS Office proficiency

Education

Bachelor's degree in Accounting or related field

Two years of related work experience

Job description

Statutory Financial Reporting Analyst

2026-11-06 Hawaii Medical Service Association Honolulu,HI

Description:

Financial Reporting Specialist

Prepares the financial reporting requirements for the State of Hawaii Insurance Division (DCCA) in accordance with the NAIC Accounting Practices and Procedures manual:

• Prepares the "Annual Statement" for the Association and ensure timely filing of all required reports. Applies thorough knowledge of Statutory Accounting Principles (SAP). Maintains PC-based software to prepare reports and resolve any validation errors. Develop working relationships with the Underwriting, Government Accounting & Reporting, and other F&A units in order to obtain proper and timely information. Applies systematic, logical analysis, and judgement to solve problems, research, and collect relevant information.
• Prepares "Quarterly Statements" for the 1st, 2nd, and 3rd quarters. Ensure that all these reports are filed in a timely manner. These quarterly reports are similar to the annual filings but modified for quarterly data only.
• Prepares supplemental reports that are required for both the quarterly and annual filings. These included, but are not limited to, the Risk Based Capital (RBC) report, supplemental investment schedules, management discussion and analysis (MD&A), etc.

Maintains a separate set of accounting records based on SAP. Prepares journal entries related to preparation of SAP financials. HMSA's accounting records are maintained using Generally Accepted Accounting Principles (GAAP). The SAP accounting records will be maintained separately from HMSA's Accounting ERP and maintained in Excel. Converts the GAAP balances by developing and documenting adjustments to derive the SAP accounting balances. Detailed knowledge of both GAAP and SAP rules are required and adjustments will be sufficiently documented. Remains current on legislation and accounting guidance related to SAP accounting rules and bring changes to accounting guidance to the attention of management and team.

Prepares quarterly, semi-annual, and annual reports for the BCBSA, such as the quarterly financial report (QFR) and liquidity ratio (LR), RBC, and annual budget report. Assist with online submission of reports from other areas to the BCBSA, as needed.

Provides internal and external auditors with supporting schedules and worksheets to describe balances in the various general ledger accounts. Provides explanations for the GAAP to SAP adjustments. Communicates with auditors and provide a clear understanding of HMSA's adjustments and balances.

Performs all other miscellaneous responsibilities and duties as assigned or directed.

Bachelor's degree in Accounting or related field and two (2) years of related work experience; or an equivalent combination of education and related work experience.

Knowledge of Generally Accepted Accounting Principles (GAAP)

Knowledge of Statutory Accounting Principles (SAP), and/or government accounting/reporting.

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Effective verbal and written communication skills

Financial analysis skills

Project coordination and documentation skills

Intermediate working knowledge of Microsoft Office applications, including but not limited to Word, Outlook, Excel, and PowerPoint

Database manipulation software familiarity or relevant experience with data entry