Statutory Financial Reporting Analyst

United States·Hmsa Bldg-Hms-Oahms - HonoluluNormalmid

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Requirements Summary

Prepares the "Annual Statement" for the Association and ensure timely filing of all required reports. Applies thorough knowledge of Statutory Accounting Principles (SAP).

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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.
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