About Travelers

The Travelers Companies, Inc. (NYSE: TRV) is a leading property casualty insurer selling primarily through independent agents and brokers. The company's diverse business lines offer its global customers a wide range of coverage in the auto, home and business settings. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees and generated revenues of approximately $25 billion in 2010.

Sr Financial Consultant

Company Information
Solid reputation, passionate people and endless opportunities. That's Travelers. Our superior financial strength and consistent record of strong operating returns mean security for our customers - and opportunities for our employees. You will find Travelers to be full of energy and a workplace in which you truly can make a difference.

Job Summary
Under Moderate Supervision, responsible for conducting and documenting complex financial analysis projects/assignments. Position does not manage others, but may serve as a team lead. Team Lead: Directs daily work activities of a small group of employees. Works with higher level manager to set goals/objectives and provides input regarding performance of employees being led. Moderate Supervision: Incumbent performs standard and routine assignments independently to conclusion; unusual problems which may require exceptions to procedures or processes to set priorities and meet specific goals and objectives of the function or unit.

Primary Job Duties & Responsibilities
Responsible for the accounting of Loss Reporting, State mandated Pools and Associations and certain Financial Reporting functions.

This unit is responsible for maintaining control over the reporting of paid losses and case loss reserves from source claim systems to the PLW Loss Accounting System and to the General Ledger. This entails balancing daily incurred and paid activity from the claim system to PLW, developing monthly roll-up controls, and balancing the month-end PLW feed to the General Ledger.

This unit is also responsible for all accounting, reporting, and cash settlements related to Personal Lines' Pools and Associations. This function typically entails filing monthly or quarterly reports to state run associations, recording accounting entries to reflect this activity onto our financials, settling any cash payments associated with the filing. A list of reporting done in support of Pools & Associations include:
  • NC Automobile Reinsurance Facility, monthly ceded and quarterly assumed, and cash settlement.
  • NH Automobile Reinsurance Facility, monthly ceded and quarterly assumed, and cash settlement.
  • Quarterly Automobile JUA participation results and cash settlements (Hawaii, Florida, Missouri, Michigan).
  • Quarterly property Mine Subsidence Fund accounting, reporting and cash settlement in the states of Illinois, Kentucky, W. Virginia, Ohio, Virginia.
  • State automobile theft prevention fee reporting and cash settlement in NY, Texas, Minnesota, and California.
  • Michigan Catastrophic Claim Association assessment reporting and cash settlement.
  • Virginia Uninsured Motorist Fund distribution accounting.

For most of these state mechanisms there is a General Ledger account maintained to control the settlement due to/from balance. The unit maintains reconciliation control over these balances. Responsibilities would include, but are not limited to the following:

Prepare, evaluate and validate complex internal and/or external financial and operational reports, both routine and ad-hoc. Perform analysis and interpretation of trends and variances in business performance, interacting with cross functional peers on a frequent basis. Validate analyses. Identify and use appropriate tools to obtain, compile and analyze more complex data necessary to support more advanced financial reports and analysis, and provide input on potential tool utilization enhancements. Synthesize and present exhibits, results, observations, recommendations to direct manager, team members and/or cross functional peers. Prepare complex and review routine financial activities for various lines of business including journal entries and account reconciliation. Prepare external financial statements including, but not limited to GAAP (Generally Accepted Accounting Principles), SEC and STAT (Statutory Accounting Principles) . Perform financial controls in accordance with Sarbanes-Oxley requirements. Other duties as assigned.

Education, Work Experience & Knowledge
Bachelor's degree in finance or accounting preferred. Typically 3-4 years of related experience. General knowledge of Financial Analysis concepts and processes. General Knowledge: Possesses sufficient knowledge to perform most work in normal situations.

Job Specific & Technical Skills & Competencies
General knowledge of the insurance business. Intermediate analytic skills. General knowledge of accounting practices and principles. Intermediate data utilization skills to access and gather data, including a basic understanding of what the data represents. Intermediate written and verbal communication skills. Intermediate time management/ prioritization skills. Intermediate ability to solve problems and suggest solutions to problems. Takes responsibility for decisions and actions. Intermediate working knowledge of Microsoft Office (e.g. Excel, Word, Outlook). Intermediate project management skills. Ability to identify customers needs and take appropriate action to meet those needs. Ability to work well in tight timeframes and deadlines. Intermediate skill/competency level: demonstrates solid knowledge and ability; can apply the competency with minimal or no guidance, in the full range of typical situations. Requires guidance handling novel or more complex situations.

Physical Requirements
Operates standard office equipment (Frequently) Sitting (can stand at will) (Frequently)

Equal Employment Opportunity Statement
Travelers is an equal opportunity employer.
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