What are the responsibilities and job description for the Senior Financial Analyst (HYBRID MA) position at The Hanover Insurance Group?
Our Claims Finance team is currently seeking a Senior Financial Analyst in our Worcester, MA location. Position is eligible for Hybrid work arrangement. This is a full time, exempt role.
POSITION OVERVIEW:
Develops, interprets, and implements complex financial and accounting concepts, or techniques for financial planning and control, by performing the following duties.
Assists with the annual budgeting process and provides ongoing forecasting and analysis to support strategic decision-making to ensure that ALAE, ULAE and indemnity spend are appropriately managed.
Leads the build and monitoring of a claims staffing model to ensure that claim operations are right-sized based upon workload targets, operational improvements, etc.
Responsible for internal management reporting, budget/plan monitoring, accounting close, and the delivery of timely and accurate financial reporting across the organization.
Partner with the strategy team and claims leaders to build a portfolio and initiative monitoring process. This will include CBAs and an effective way to monitor short and long-term measures of success across the portfolio.
Conducts special studies to analyze complex financial actions and prepares recommendations for policy, procedure, control, or action.
Provides interpretation of financial policies, governmental legislation, accounting theory, or customer financial regulations.
Analyzes financial information to determine present and future financial performance vs. historical trends, budget and for go-forward planning purposes.
Identifies trends and recommends improvements accordingly.
Evaluates complex profit plans, operating records, and financial statements.
Directs preparation of studies, reports, and analyses in areas such as budgets, forecasts, financial plans, governmental requirements, statistical reports, cash flow projections, and business forecasts.
Interprets and applies corporate financial policies, government legislation, and accounting theory.
Establishes databases of pertinent information for use in analyzing future plans and forecasts.
Makes recommendations to management regarding cost saving or profit generating opportunities and profitability improvement strategies.
Coordinates with all levels of management to gather, analyze, summarize, and prepare recommendations regarding financial plans, acquisition activity, new business planning, trended future requirements, government requirements, and operating forecasts.
Researches and prepares economic reports on subjects such as rate of return, depreciation, working capital requirements, investment opportunities, investment performance, and impact of governmental requirements.
Assists organization's controller in the development of the budget, planning, and other corporate financial requirements.
IN THIS ROLE, YOU WILL:
Within established guidelines, plans, conducts and may supervise assignments.
Reviews progress and evaluates results.
May train less experienced employees in technical complexities of assigned work.
Recommends changes in procedures.
Operates with substantial latitude for un-reviewed action or decision.
Reviews progress with management.
May be assigned to one or more larger projects and be accountable for reporting on project status.
WHAT YOU NEED TO APPLY:
Typically has 4-6 years professional experience.
Bachelor's degree or equivalent experience, preferably in accounting, finance, business analytics, actuarial science or another similar educational path.
Higher level degree may be desired.