What are the responsibilities and job description for the CONTROLLER position at Universal Insurance?
General Description:
This individual will oversee activities of the Corporate Accounting Department for the accurate and timely dissemination of financial management reports including, but not limited to, internal and external monthly financial statements, financial planning and analysis (FP&A) activities, and annual audits and annual budget. The individual will also oversee activities of the Premium Accounting Department for the timely processing of all cash receipts, refund and commission payments.
Essential Duties and Responsibilities:
Provide initial review and ensures timely submission of monthly financial statements on a statutory and GAAP basis
Provide initial review and ensures timely submission of quarterly and annual statutory financial statements.
Prepare the annual consolidated GAAP basis financial statements, and annual statutory financial statements, and related footnote disclosures.
Facilitate and assist the external auditors during the annual examination of the Company’s books and records.
Represent and serve as the main contact in the annual external audit
Work with internal auditor to assist in external audit and to complete and respond to internal audit reviews.
Ensure that reinsurance contracts are properly accounted for and recoveries of losses under such contracts are appropriately made. Assist in analysis of reinsurance strategies on a go forward basis.
Provide initial review and ensures timely submission of reports required by regulatory agencies and financial institutions.
Prepare or reviews FP&A reports to analyze the operations and foster strategic analysis to improve results.
Assist the AVP and/or VP of Finance in working closely with the executive group to understand the operations and assist in making decisions on strategic planning.
Help to create, review, and assure compliance with all Managing General Agency contracts.
Work with department heads to prepare, develop, implement, and maintain cost center budgets.
Prepare and continually monitor and review the results against consolidated budgets and forecasts.
Oversee and maintain systems and controls which verify the integrity of all systems processes and data and enhance the company value.
Provide first level review of budget vs. actual analyses on a monthly basis.
Continually evaluate cash processing and lockbox functions to ensure they are operating appropriately.
Monitor and forecast all cash activity to ensure sufficient and appropriate cash flows.
Review and oversee the preparation of the tax provisions on a quarterly and annual basis.
Ensure federal and state income taxes are accurate.
Devise cost saving and cost containment ideas for recommendations to Management.
Facilitate in a wide variety of special projects and compile a variety of special reports in an accurate and timely manner.
Respond to AVP-Finance and/or executive group as assigned with accurate and timely work to facilitate financial needs.
Mentor and train accounting staff to further develop skills and knowledge and provides leadership to accounting group.
Communicate with co-workers, management, clients, agents and others in a courteous and professional manner.
Perform other duties as required.
Supplemental Information:
This job description has been prepared to indicate the general nature and level of the work that the employees perform within their classification. This description is not and cannot be interpreted as an inventory of all the duties, tasks, responsibilities and qualifications required for the employees assigned to this job.
Education and / or Experience:
Bachelor’s degree in Accounting or related area required.
Certified Public Accountant (CPA license) preferred.
MBA and/or Masters of Accounting is highly valued.
Must have at least 7 years of accounting experience, at least 5- years of Property and Casualty insurance accounting experience, and at least 4 on a supervisory role; must have in-depth understanding of industry specific accounting rules and regulations. Thorough understanding of statutory accounting practices a must.
Strong conceptual understanding and practical knowledge of GAAP and regulatory accounting principles.
Must be proficient in Microsoft Office-Excel, PowerPoint and Word.
Must possess strong managerial and interpersonal skills with proven supervisory record.
Must possess strong analytical skills; strategic, problem solving and management skills.
Strong general ledger, financial statements, yellow books, FP&A, investments, income tax and treasury management knowledge.
Proficient computer knowledge-specifically with spreadsheets (hardware and software).
Strong knowledge of financial information systems. Crystal reporting experience a plus.
Ability to take ownership of assigned areas and projects, as well as the ability to work well under pressure.
Must be able to interface effectively and professionally with all levels of personnel.
Attention to detail; strong organizational skills.
Positive attitude and strong work ethic.
Excellent communication skills.
Licenses and / or Certifications:
CPA Desired
