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Investment Accounting Analyst II

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Quick Stats:


WI Madison Natl HQ

Job ID:

R2500 Investment Accounting Analyst II (Open)


Candidates with a CPA strongly preferred, along with 3-5 years of public accounting experience. Having prior exposure to investment accounting (banking, investments or insurance) a plus.

Offer to selected candidate will be made contingent on the results of applicable background checks.

Offer to selected candidate in contingent on signing a non-disclosure agreement for proprietary information, trade secrets, and inventions.

Our policy restricts consideration of applicants needing employment sponsorship (visas) to specialty occupations. Sponsorship will not be considered for this position.

Relocation assistance is available.

This position provides intermediate accounting, financial analysis, financial reporting and budgeting to the company. Ensures adequate level of internal controls over financial information. Works with all other divisions of the corporation to record, analyze and report financial information to management. Participates as a team member in divisional and cross-divisional projects. Assists in the training and development of entry level staff.
Job Description:

Primary Accountabilities
Financial & Management Reports (30%)

  • Prepares specialized reports based on the actual results. These reports are based on providing more detail and analyzing historical trends.
  • Prepares profit plans for the group of companies. Collects historical data and examines historical relationships to help forecast applications, policies in force, revenues and expenses. Frequently helps other divisions with their role in the profit planning process.
  • Maintains a working knowledge of the corporate expense budgeting system. Understands the basic theory behind the cost center and account code system and is able to apply it in practice to avoid potential problems. Assists cost center heads with problems or questions concerning the budgeting process.
  • Assists internal and external audit staffs with their annual financial audit, and with audits of specific systems or operations. Works with state insurance examiners to complete their audits.
  • Prepares peer group and other industry reports comparing the company to the industry on many measures of financial strength and operating efficiency.

Financial Accounting Close (20%)

  • Prepares monthly expense allocation billings between companies which includes identification of expenses subject to the allocation agreement, development of ratios that form the basis of the allocation, and reviews the actual results quarterly to ensure accuracy. Responsible for setting up required accrual entries and establishing the associated liabilities in order to finalize expenses and financial statements.
  • Utilizes the general ledger system to analyze account fluctuations and deviations from planned. Runs on-line queries, tags certain accounts or journals and creates reports to provide information on these fluctuations.
  • Accountable for the verification and reconciliation of output from corporate systems. Monitors the interface to general ledger to assure control over company assets.
  • Uses general knowledge of the Accounting Department's accounting systems to prepare financial information.
  • Demonstrates general knowledge of the major corporate operating systems and how they are interfaced into the general ledger system. Corporate systems include premium processing, claims processing and all other cash handling or account balancing systems.
  • Maintains procedures for all key responsibilities to support internal controls and annually reviews these procedures and updates them accordingly.

Technical Expertise (35%)

  • Keeps current on professional designations through efforts in continuing education. Stays abreast of industry developments by reading accounting related literature and attending seminars and conferences.
  • Develops strong understanding of statutory and GAAP accounting rules applicable to specific entities and transaction types. Applies knowledge of statutory and GAAP accounting rules to various management reports.
  • Researches moderately complex accounting issues and pronouncements.
  • Applies understanding to the National Association of Insurance Commissioners' (NAIC) Accounting Procedures and Practices manual. Keeps up-to-date on changing accounting rules and interpretations as directed by either the NAIC or Securities Valuation Office. Interprets insurance accounting regulatory requirements as promulgated by the states.
  • Represents division on corporate-wide committees and projects. Contributes accounting and financial expertise and reports back to management on the direction of the committee.
  • Identifies and leads department process improvement initiatives.

Statutory Reports and Other Required Filings (15%)

  • Prepares components of the insurance industry's primary financial and statistical report - the Annual Statement (A/S) and the associated supplemental filings. Completes exhibits and schedules for inclusion in the A/S. Files the completed statement with the Office of the Commissioner of Insurance in each of our operating areas.
  • Gathers information from other departments and divisions which is incorporated into the A/S. Includes losses and loss reserves, actuarial data, information concerning reinsurance and information about our investment portfolios.
  • Prepares and files the quarterly statutory reports. These reports are similar to the A/S, but are presented in a more summarized format. Calculates the company's Risk Based Capital and knows how this financial analysis tool is used by the NAIC and state insurance departments.
  • Interprets insurance accounting regulatory requirements as promulgated by the states.
  • Applies understanding to the National Association of Insurance Commissioners' (NAIC) Accounting Procedures and Practices manual. Keeps up-to-date on changing accounting rules and interpretations as directed by either the NAIC or Securities Valuation Office.
  • Prepares and files information with the NAIC, AM Best and other rating agencies. Files data with numerous insurance and statistical services. Contacts the agency for clarification of instructions or to respond to questions about the field data.


Specialized Knowledge and Skills Requirements
  • Demonstrated experience providing customer-driven solutions, support or service
  • Basic knowledge and understanding of financial reporting, financial analysis, budget and forecasting techniques or internal controls.
  • Demonstrated experience utilizing concepts related to accounting, accounting systems, budget, or tax.
  • Demonstrated experience with spreadsheet utilization and development.
  • Solid knowledge and understanding of accounting, accounting systems, budget, or tax concepts.

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