What are the responsibilities and job description for the Chief Accounting Officer position at Princeton Peak Advisory?
Job Summary:
We are seeking a highly skilled and detail-oriented Chief Accounting Officer to oversee and manage the financial operations of our client's organization. The CAO will be responsible for overseeing all financial and accounting activities within the insurance company, with a strong focus on statutory accounting principles (SAP) as required by regulatory bodies.
Key Responsibilities:
- Financial Management: Oversee accounting functions and ensure timely, accurate financial statements.
- Leadership: Lead the accounting department and ensure the team is up to date on training in statutory accounting regulations. Provide strategic financial advice to the leadership team regarding statutory and GAAP reporting impacts on business decisions.
- Regulatory Compliance: Ensure the company complies with all insurance-related financial regulations, including solvency requirements, capital adequacy, and reserving.
- Financial Reporting: Prepare and oversee the preparation of accurate and timely financial statements in accordance with Statutory Accounting Principles (SAP). Ensure compliance with NAIC (National Association of Insurance Commissioners) reporting requirements.
- Budgeting and Forecasting: Develop budgets, monitor performance, and analyze variances.
- Internal Controls & Compliance: Maintain internal controls, manage audits, and ensure regulatory compliance.
- Cash Flow Management: Monitor cash flow and optimize working capital.
Qualifications:
- Bachelor’s degree in Accounting, Finance, or related field
- CPA Required
- Property & Casualty Insurance experience is required
- 5 years of experience in accounting or finance, within the insurance industry
- Strong knowledge of GAAP, SAP, ERP systems, and financial software.
- Excellent analytical, problem-solving, and communication skills.
- Ability to manage multiple priorities in a dynamic environment.
