What are the responsibilities and job description for the Controller position at United Automobile Insurance Company?
COMPANY OVERVIEW: Founded in 1989, United Automobile Insurance Company is an innovative and established organization looking for a Controller to join our team. Family-owned, UAIC, is one of the largest privately held property and casualty insurance companies in the United States. The key to our growth and success is a commitment to providing quality service to our agents and customers, by providing disciplined underwriting, and strategic claims handling. Our ongoing efforts to invest substantial resources in personnel and technology are the foundation of our promise of assuring maximum efficiency and specialized operations in the industry. We are proud that our independent agents and customers have recognized our dedication by making UAIC the market leader in every state where we conduct business. SCOPE: As the Controller, you will play a crucial role in the financial management of UAIC. This position is responsible for overseeing all aspects of financial reporting, budgeting, forecasting, and internal controls within the organization. The Controller will work closely with the chief financial officer and other department heads to provide insightful financial analysis and ensure compliance with regulatory requirements. This position offers a remote work arrangement, allowing the ideal candidate to work from their preferred location within the Southeast region. Candidates must have prior experience in property and casualty insurance. DUTIES :
- Prepare accurate and timely monthly, quarterly, and annual financial statements in compliance with GAAP (Generally Accepted Accounting Principles) and regulatory guidelines.
- Analyze financial results, variances, and trends, and provide meaningful insights to support business decisions.
- Lead the budgeting process, working closely with department heads to develop realistic and achievable financial plans.
- Monitor budget performance, identify variances, and work with stakeholders to implement corrective actions.
- Prepare financial forecasts and projections to support strategic planning.
- Oversee day-to-day accounting operations, including accounts payable, accounts receivable, general ledger, and payroll.
- Ensure accurate and timely recording of financial transactions in compliance with GAAP and regulatory requirements.
- Reconcile bank statements and other key accounts.
- Ensure compliance with all applicable financial regulations, including statutory reporting and tax filings.
- Implement and maintain internal controls to safeguard company assets and ensure accurate financial reporting.
- Work with external auditors and regulators to facilitate audits and examinations.
- Identify opportunities for process optimization and automation within the finance department.
- Drive initiatives to enhance efficiency, accuracy, and effectiveness in financial operations.
- Foster a culture of continuous learning, professional development, and accountability.
- Consolidate financial results from various departments and subsidiaries.
- Develop annual budgets and long-term financial forecasts.
- Monitor budget performance and provide variance analysis.
- Establish and maintain robust internal control policies and procedures.
- Ensure compliance with industry regulations, statutory requirements, and accounting standards.
- Coordinate with internal and external auditors for periodic audits.
- Conduct in-depth financial analysis to identify trends, opportunities, and potential risks.
- Provide recommendations to improve financial performance and operational efficiency.
- Present financial insights to senior management and stakeholders.
- Manage cash flow, including receivables and payables, to ensure adequate liquidity for operations.
- Monitor investment portfolios and optimize returns while maintaining risk tolerance.
- Oversee insurance accounting processes, including premium recognition, claims reserves, and reinsurance accounting.
- Monitor and assess the adequacy of reserves and provide recommendations for adjustments as necessary.
- Lead and mentor a team of accounting professionals, providing guidance and support in their day-to-day responsibilities.
- Foster a culture of continuous learning and professional development.
- Participate in special projects related to financial systems implementation, process improvement, or strategic initiatives.
- Bachelor’s degree in accounting, finance, or related field required.
- CPA (Certified Public Accountant) designation preferred.
- Prior property and casualty insurance experience is required
- Minimum 4 years of experience in claims processing, auditing, or a similar role.
- 5 years of progressive experience in accounting and finance roles, preferably within the insurance industry, with a demonstrated track record of leadership.
- Strong knowledge of GAAP, IFRS, and regulatory compliance within the insurance industry.
- Proficiency in financial software and ERP systems (e.g., SAP, Oracle, QuickBooks).
- Excellent analytical, problem-solving, and communication skills.
- Ability to lead and develop a high-performing team.
- Experience with insurance-specific financial reporting and regulatory compliance is a plus.
- 401(k) Retirement Savings Plan with employer match.
- Comprehensive Medical, Prescription Drug, Vision, and Dental Insurance
- Paid Time Off, Holidays, and Leave programs.
- Flexible spending accounts
- Basic Life Insurance and Voluntary Life/ADD
- Short Term and Long-Term Disability
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