Location: Harrisburg, PA
Description: JOB DESCRIPTION
The Director of Financial Reporting is responsible for the management of the financial reporting and intercompany pooling accounting. The incumbent manages the preparation and analysis of internal and external financial reports, federal and state income taxes as well as state and local premium taxes.
COMPETENCIES AND ESSENTIAL DUTIES OF THE DIRECTOR OF FINANCIAL REPORTING
Competency Description of Duties Coaching & Influencing
•Develops, implements and monitors practices, procedures and guidelines for reporting, reconcilement, interpretation and analysis of accounting information.
•Ensures that staff completes ad hoc assignments or projects on time and with the appropriate level of resources and quality in order to optimally meet the objectives of the assignment.
•Must keep abreast of statutory reporting requirement changes, accounting automation concepts, GAAP practices and principles and industrial trends in order to be able to adequately lead or train staff, remain technologically current and apply the latest technology to an accounting system(s), procedural problem and issue of financial reports. Facilitating Change
•Responsible for the expense management function including the budget process, proper recording of actual expenses, analyzing results and providing narratives for material variances. Ability to Grow and Adapt
•Actively seeks information (from coworkers, leaders, customers, competition, technologies, and regulations) to understand the rationale and implications for changes.
•Treats new situations as opportunities for learning or growth; actively seeks to identify and communicate the benefits of changes; collaborates with others to implement changes.
•Quickly modifies daily behavior and tries new approaches to deal effectively with changes; does not persist with ineffective methods; leverages available resources to ease transition. Conflict Management
•Presents and seeks potential solutions or actions, building on others' ideas; asks questions to generate ideas and gets all parties involved in the solution; explores needed resources and support while ensuring that the conflicting parties take ownership for resolving the conflict. Strategic Planning
•Identifies and fills gaps in information required to understand business issues and opportunities.
•Organizes information and data to identify major trends and problems; compares and combines information to understand underlying issues and predict future trends.
•Generates and considers options for action to achieve a long-range goal; develops decision criteria considering factors such as cost, benefits, risks, timing, and buy-in; selects the strategy most likely to succeed.
•Identifies the key tasks and resources needed to achieve strategic objectives.
•Manages the corporate accounting function responsible for the Statutory and GAAP financial reporting including: individual company and combined financial statements; comprehensive internal results management and board of directors reporting; regulatory financial filings including quarterly and annual statements; audited financial statements; various general ledger entries and reconciliations; and proper allocation of expenses to line of business and expense groups.
•Manages the coordination of the federal tax return preparation with an external CPA firm in addition to the quarterly estimated tax payments. Also manages the calculation of the deferred income taxes and current expense on both a Statutory and GAAP basis. The incumbent manages the internal preparation of various state income, premium and local tax returns. Performs various projects requested or assigned by the Vice President and Controller.
CORPORATE CORE COMPETENCIES OF
THE DIRECTOR OF FINANCIAL REPORTING
Competency Proficiency Description Effectively Communicates and Connects
•Articulates and presents important information clearly and concisely across all levels of the organization; fostering a feedback loop around decisions made, status of initiatives, etc., to all contributors.
•Creates healthy tension by challenging ideas and assumptions that impact business results to drive improvement; embraces conflict.
•Shapes the opinions of senior individuals by presenting persuasive arguments; negotiates solutions to best meet business needs.
•Provides feedback to direct reports on an ongoing basis.
•Encourages individuals in the department to provide feedback and challenge others, justifying their reasoning. Customer Focused
•Predicts broad need across customer groups based on business, industry and economic trends.
•Develops strong relationships and proactively builds new relationships through responsiveness at all levels within the organization.
•Use customer experience to influence add-on offerings driving growth and profitability.
•Leads development of cross team, cutting edge solutions to address emerging customer needs.
•Recognizes and understands the customer needs to drive superior customer experience across the customer journey.
•Takes action to create a superior customer experience.
•Leads others to build relationships with key influencers. Talent Development Mindset
•Develop learning strategies that reinforce the importance of technical and personal development.
•Support continuing education, suggest and/or deliver training, and/or facilitate developmental experiences.
•Provide meaningful or challenging opportunities and delegate work to build others' skills; encourage teams to learn from each other and from others in the organization.
•Set clear performance expectations; reward and recognize individuals and teams for high performance, and encourage others to do the same.
•Finds opportunities to individually coach others, providing specific insights and tips to enhance skills, knowledge, or work performance.
•Identifies career paths and informs training/experience needed to move into other roles. Demonstrates Adaptability
•Generates numerous ideas and takes action on new approaches to address a range of departmental work areas; encourages others to generate ideas.
•Considers non-conventional ideas and approaches when developing solutions that have the potential to improve services delivered by the business.
•Launches a variety of initiatives that contribute to departmental success with cohesive purpose.
•Pursues success with tenacity and persistence, actively seeking feedback on where continuous improvement is needed and turning difficult situations into opportunities for growth.
•Advocates change initiatives and proactively develops and implements strategies to help others embrace change and overcome resistance to change. Demonstrates Accountability
•Collaborates to make critical decisions that have important outcomes for the business; takes full responsibility for decisions, ensuring resulting action is taken.
•Establishes departmental expectations and reputation for accountability by driving accurate and impactful work results and rewarding demonstrated behavior of ownership and accountability.
•Anticipates department deliverables, timelines and behaviors, setting expectations and priorities, allowing team members to meet objectives and operate effectively.
•Forecasts long-term needs for the business and establishes a plan to execute.
•Addresses and communicates difficult personnel and business scenarios.
SPECIAL RELATIONSHIPS FOR THE DIRECTOR OF FINANCIAL REPORTING
Develops relationships with internal and external customers such as division management, auditors, various state insurance departments, local municipalities, the IRS and rating agencies. Provides explanations to senior management and/or board members about financial consequences of decisions and educates company management about possible impacts of decisions on ratings.
QUALIFICATIONS FOR THE DIRECTOR OF FINANCIAL REPORTING Education/Credentials
•Bachelor's Degree in Accounting or Finance
•CPA, CPCU or MBA required Experience
•Minimum of 10 years of experience in public accounting (auditing insurance companies) and/or insurance company accounting.
•Experience in financial reporting in addition to federal, state and local taxes for insurance companies with property and casualty insurance being preferred.
•Previous supervisory or substantially similar work experience that displays the capability or skills of an effective manager. Technical / Professional Knowledge
•High level of knowledge relating to Statutory insurance accounting principles
•High level of knowledge relating to GAAP insurance accounting principles
•Basic knowledge of federal and state taxation for insurance companies
•Strong analytical and problem solving skills
•Strong organizational skills
•Strong communication skills with evidence of dedication to quality service and customer focus
•Proficiency in Microsoft Excel, Word, Outlook and Access
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