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Assistant Controller

Employer
New York State Insurance Fund
Location
New York, NY
Salary
$112,155 - $141,538
Closing date
Nov 21, 2021

View more

Category
Financial Services, Accounting
Job Type
Full Time
Career Level
Manager

Job Details

Assistant Controller
NYSIF
Salary Range: $112,155 - $141,538


Description:
The New York State Insurance Fund (NYSIF) is seeking an experienced financial professional to serve as Assistant Controller in our Finance and Accounting Department. Reporting to NYSIF’s Controller, the Assistant Controller will play an active role in the department’s preparation, analysis and reporting of NYSIF’s financial results. Responsibilities include, but are not limited to:

  • Oversee the Financial Reporting, Financial Planning and Analysis, Investment Back Office and Accounts Payable staff and functions
  • Assist in preparing NYSIF’s statutory annual and quarterly statements, (Yellow Book) for the Workers’ Compensation Fund and Disability Benefits Fund filed with the New York State Department of Financial Services and the NAIC
  • Oversees the closing of the General Ledger for the Workers’ Compensation Fund, Disability Benefits Fund and the Aggregate Trust Fund within 5 business days of month end.
  • Provide and prepare materials for the annual audit including the preparation of NYSIF’s audited financial statements and footnotes for the Workers’ Compensation Fund, Disability Benefits Fund and Aggregate Trust Fund on the statutory basis of accounting
  • Assist the Controller with the preparation of the quarterly reports for senior management and the Board of Commissioners such as financial summaries, segment profitability and reporting, rate, volume and mix analysis
  • Support the Investment Front Office in exploring accounting and implementation of new asset classes
  • Contribute to process improvements and automation of various strategic initiatives
  • Work in conjunction with Treasury and Legal to track and manage receivables aging
  • Identify risks and deficiencies of the business as illustrated by automated tools and KPI monitoring
  • Assist the preparation of the annual Workers’ Compensation Fund (WCF) and Disability Benefits Fund (DBF) budget. Forecast expenses, analytical comparisons of actual versus budget, budget versus forecast and actual versus forecast.


Basic Qualifications:
Bachelor's Degree in Accounting, Finance, or Business Administration and five years of experience in insurance accounting or auditing. Preference may be given to candidates with a Master’s degree in Business, Accounting or Finance and candidates who are Certified Public Accountants (CPAs) or have passed the Certified Public Accounting exam. Candidate must possess a background in finance and have experience with various accounting software systems and system implementations. Advanced Excel skills, including pivot tables, lookups and macros, required.


Preferred Qualifications:
Experience in insurance, financial services, investment accounting, public accounting and auditing is highly preferred. Experience with Oracle, Hyperion and financial project management are a plus. The ideal candidate will have excellent verbal and written communication skills and will be able to identify or troubleshoot complex business challenges while maintaining a good rapport with management staff and key stakeholders. Deep knowledge of Statutory Accounting Principles in accordance with the National Association of Insurance Commissioners (NAIC) strongly preferred.


Primary Location: Albany or New York City
Travel: Some travel required                                                                                                                   To Apply: Please email resume and cover letter to hrexec@nysif.com


NYSIF (The New York State Insurance Fund) was established in 1914 as part of the original enactment of the New York State Workers’ Compensation Law. NYSIF's mission is to guarantee the availability of workers’ compensation insurance at the lowest possible cost to all New York employers and to foster healthy outcomes with timely, appropriate indemnity and medical payments to injured workers, while maintaining a solvent fund. For more than a century, NYSIF has fulfilled the dual roles for which it was created: to compete with other carriers to ensure a fair marketplace and to be a guaranteed source of coverage for employers who cannot secure coverage elsewhere.

NYSIF is the largest workers’ compensation carrier in New York State and among the 10 largest in the nation, insuring more than 145,000 policyholders with over $1.4 billion in annual premium and $20 billion in assets. A self-supporting insurance carrier, NYSIF operates without taxpayer funding.

In addition to workers’ compensation insurance, NYSIF provides disability benefits coverage for off-the-job injuries to more than 65,000 New York employers. In 2018, NYSIF added Paid Family Leave as a component of its disability benefits solution providing New Yorkers with job-protected paid time away from work to care for their families.


Please note the following New York State Civil Service employment information:

  • Jurisdictional classification: Exempt
  • Bargaining unit: M/C
  • Civil Service title: Special Investment Officer

Company

The New York State Insurance Fund (NYSIF) was established in 1914 as part of the original enactment of the New York Workers' Compensation Law. The Fund's mission is to guarantee the availability of workers' compensation insurance at the lowest possible cost to employers, while maintaining a solvent fund, as well as to provide timely and appropriate indemnity and medical payments to injured workers. NYSIF is a self-supporting insurance carrier that competes with private insurers in both the workers' compensation and disability benefits markets in New York State.

Hires for a majority of positions are made according to merit as determined through competitive examinations administered by the New York State Department of Civil Service. Civil Service exams are held on a continuous basis for NYSIF positions including accountants and auditors, actuaries, information technology specialists, medical care representatives (registered nurses) and vocational rehabilitation specialists.

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