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MEMIC · 1 day ago

Financial Planning Analyst

Portland, ME

Full-time

Onsite

Entry Level

1+ years exp

MEMIC is dedicated to improving workers' compensation with a focus on compassion and safety. The Financial Planning Analyst plays a key role in financial analysis, supporting statutory business projections and assisting in enterprise risk management and actuarial projections for the MEMIC Group.

Financial ServicesInsurance

Responsibilities

Roll forward and associated reasonableness analysis for the MEMIC Group business projections for internal and external use for the Board of Directors, Senior Management, regulators, AM Best and all external financial statement auditors, investment managers and consultants

Facilitates the monthly and quarterly roll forward and updating of various Financial Statements and key metrics, including but not limited to Regional P&Ls, Business Segment P&Ls, ULAE reporting, and Loss and LAE reporting

Maintains, updates, and analyzes the Loss and IBNR position for each risk bearing entity, with collaboration from internal actuaries and members of the Financial Planning Team

Contributes to general risk management and business continuity, including maintenance and analysis of Risk Appetite Statement Dashboard and required compliance document, roll forward of call trees and continuity plans, and any required control testing, as needed

Assists in the updating of periodic loss development reporting for the risk bearing entities and coordinates with internal and external actuary. Supports the external actuarial review, as necessary in January and July, ensures timely and accurate data is provided

Supports Vice President, Risk Management with metrics associated with ORSA Executive Dashboard, analytics and updating, as needed

Prepares Annual Maine Bureau of Insurance or New Hampshire Insurance Department business projections, reporting and coordination of Form B, C, D or E support for external attorneys and associated filing and follow up

Qualification

Financial analysisComplex accounting proceduresAnalytical skillsMicrosoft ExcelPowerBIInterpersonal skillsCommunication skillsTime management

Required

Bachelor's degree with a minimum of one year work experience in finance or equivalent work and education experience

Must have a sound understanding of complex accounting procedures

Strong analytical skills and have ability to take initiative on projects requiring communication with internal or external sources

Strong interpersonal, verbal and written communication skills at all levels across the organization as well as with external business partners

Ability to work independently, support the CFO on various analysis and reporting to the Board of Directors, as necessary

Willing to accept new responsibilities, work well under pressure, adjust to shifting priorities, and handle multiple tasks

Strong time management skills

Proficient in Microsoft Office, including Excel, Word, Access and PowerPoint, ability to explore PowerBI and other data related analytic software, as required

Strong research skills and excellent analytical abilities to interpret the effects of complex accounting practices on all entities of the MEMIC Group