Controller - Statutory Accounting opening
Posted 1 day ago by R Systems, Inc.
Negotiable
Undetermined
Remote
Remote
Summary: The Controller - Statutory Accounting role at R Systems involves preparing and filing statutory financial statements, maintaining the general ledger, and ensuring compliance with accounting principles for insurance companies. The position requires collaboration with external auditors and tax advisors, as well as managing internal accounting controls. Candidates must possess a CPA and have significant experience in statutory accounting for life and annuity insurers. This remote position offers opportunities for professional growth within a dynamic and innovative environment.
Key Responsibilities:
- Prepare and file TDI quarterly and annual statutory financial statements in accordance with NAIC Statutory Accounting Principles (SAP)
- Maintain the general ledger and chart of accounts using NetSuite (the company s selected ERP platform)
- Coordinate with the outside statutory accounting firm during the initial engagement period and manage the transition to full internal ownership
- Prepare GAAP/STAT reconciliations and support the annual financial audit
- Manage premium tax filings and coordinate on federal income tax compliance for insurance companies
- Establish and maintain internal accounting controls, policies, and procedures appropriate for a TDI-regulated insurer
- Support the preparation of financial projections, management reporting, and Board financial presentations
- Coordinate with the Staff Actuary on reserve entries, actuarial adjustments, and the statutory balance sheet
- Manage accounts payable and receivable processes, including commission settlements with distribution partners
- Support TDI financial examinations and respond to regulatory inquiries related to financial reporting
- Monitor NAIC SAP updates and TDI guidance and ensure timely adoption of applicable accounting changes
Key Skills:
- CPA required
- 5 10 years of accounting experience; statutory accounting (SAP) for life and annuity insurers required
- Direct experience preparing or overseeing TDI or comparable state insurance department financial statement filings
- Familiarity with NAIC Annual Statement filing requirements and statutory accounting for fixed annuity products
- Experience with NetSuite or comparable cloud-based ERP platform preferred
- Working knowledge of GAAP/STAT differences applicable to life insurers
- Strong attention to detail and demonstrated experience building and maintaining internal financial controls in a regulated environment
- Experience working with external auditors and tax advisors in an insurance company context
Salary (Rate): undetermined
City: undetermined
Country: undetermined
Working Arrangements: remote
IR35 Status: undetermined
Seniority Level: undetermined
Industry: Other
About R Systems:
R Systems is a leading digital product engineering company that designs and develops chip-to-cloud software products, platforms, and digital experiences that empower its clients to achieve higher revenues and operational efficiency. Our product mindset and engineering capabilities in Cloud, Data, AI, and CX enable us to serve key players in the high-tech industry, including ISVs, SaaS, and Internet companies, as well as product companies in telecom, media, finance, manufacturing, and health verticals. We Are Great Place to Work Certified in 10 countries with a full-time workforce [India, USA, Canada, Poland, Romania, Moldova, Indonesia, Singapore, Malaysia & Thailand]! We are recognized as one of the Best Tech Brands 2024 by the Times Group and India's Top 500 Value Creators 2023 by Dun & Bradstreet.
Company Link:
Job Description
Key Responsibilities
- Prepare and file TDI quarterly and annual statutory financial statements in accordance with NAIC Statutory Accounting Principles (SAP)
- Maintain the general ledger and chart of accounts using NetSuite (the company s selected ERP platform)
- Coordinate with the outside statutory accounting firm during the initial engagement period and manage the transition to full internal ownership
- Prepare GAAP/STAT reconciliations and support the annual financial audit
- Manage premium tax filings and coordinate on federal income tax compliance for insurance companies
- Establish and maintain internal accounting controls, policies, and procedures appropriate for a TDI-regulated insurer
- Support the preparation of financial projections, management reporting, and Board financial presentations
- Coordinate with the Staff Actuary on reserve entries, actuarial adjustments, and the statutory balance sheet
- Manage accounts payable and receivable processes, including commission settlements with distribution partners
- Support TDI financial examinations and respond to regulatory inquiries related to financial reporting
- Monitor NAIC SAP updates and TDI guidance and ensure timely adoption of applicable accounting changes
Qualifications
- CPA required
- 5 10 years of accounting experience; statutory accounting (SAP) for life and annuity insurers required
- Direct experience preparing or overseeing TDI or comparable state insurance department financial statement filings
- Familiarity with NAIC Annual Statement filing requirements and statutory accounting for fixed annuity products
- Experience with NetSuite or comparable cloud-based ERP platform preferred
- Working knowledge of GAAP/STAT differences applicable to life insurers
- Strong attention to detail and demonstrated experience building and maintaining internal financial controls in a regulated environment
- Experience working with external auditors and tax advisors in an insurance company context
- Frequent Internal Hackathons: Engage in dynamic competitions with exciting prizes to keep your skills sharp.
- Cultural Celebrations: Strengthen our familial bonds through shared celebrations, fostering a sense of community.
- Diverse Project Exposure: Work on a variety of projects across sectors like Healthcare, Banking, e-commerce, and Retail, collaborating with leading global brands.
- Centre of Excellence (COE): Benefit from technical guidance and upskilling opportunities provided by our team of technology experts, helping you navigate your career path.
- E-Learning Platform: Gain access to comprehensive e-learning platforms coupled with a robust mentorship program to enhance your skills.
- Open Door Policy: Embrace a culture of mutual support, respect, and open dialogue, promoting a collaborative work environment.