Page 1 01/1/2013 DEPARTMENT: Accounting CLASSIFICATION: Exempt JOB DESCRIPTION SUMMARY: Accomplishes the plans, goals and objectives established for the position; prepares and reconciles all financial data. REPORTING RELATIONSHIPS: The Financial Accountant reports directly to the Accounting Manager. There are no positions reporting directly to the Financial Accountant. REQUIREMENTS: Education: Required: Preferred: High School diploma or its equivalent and a working knowledge of Accounting Principles. Completion of AINS 21 and Ethics 311 required within one year of employment or transfer. Advancement to Senior position requires AIAF or ARM designation. Bachelor s Degree in Accounting Licensing/Registration/Certification: Required: Valid Driver s License with acceptable driving record Preferred: None Skills, Knowledge and Abilities: All accounting transactions require skills, knowledge and abilities for Insurance Companies and General Agency. Ability to accomplish goals and objectives; Possess effective people skills; Understanding of internal controls and separation of duties; Ability to calculate adjustments, accruals, and reconcile data accurately while maintaining adequate documentation; Excellent telephone skills; Excellent time management skills; Working knowledge of software and its uses. Physical: Body positions: Body movements: Body senses: Sitting or standing in office. Must have ability to spend extensive time talking to insurance producers and companies, banking personnel, reinsurance broker personnel, TDI examiners, and auditors on the telephone and working on the computer. Must have physical dexterity to move through office, talk on the telephone while writing and/or keying information into computer. Must be able to see and hear, have full power of speech for communication with office personnel, outside contacts, and management, as well as communicate on the telephone with office personnel, and outside contacts. Must be able to see to read correspondence and related documents for completion of tasks.
Page 2 01/1/2013 Mental Requirements: Mathematics: Language: Computer: Ability to calculate adjustments and accruals of data applying accounting concepts and basic math (add, subtract, multiply, divide). Must be able to communicate in English. Communication must be effective in both the verbal and written modes, interact with office personnel and business associates. Ability to read, analyze and interpret insurance data results. Effectively present information to auditors, examiners, agencies, insurance companies, reinsurance broker, banks, vendors, and management. Ability to work in a Windows environment, communicate via e-mail, and learn the uses of all required software to complete tasks. Working Conditions: Primarily an office setting, requiring sitting extended periods of time. Occasional travel to various meetings and training classes, requiring driving/riding company vehicles. ESSENTIAL FUNCTIONS Duties and Tasks: General Ledger: After reconciliation of prior days data, post all entries daily into General Ledger with 100% accuracy Process all void and stop payment check requests daily with 100% accuracy Prepare deposits with 100% accuracy and deliver to local bank by 3:00 p.m. daily Update check disbursements, voids, and stop payments into daily log for weekly interface of systems data Prepare daily file for download of claims data with 100% accuracy Prepare daily file for download of checks issued to Wells Fargo bank disbursement account with 100% accuracy Reconcile premium and submit check requests for premium splits between related companies Reconcile salvage and subrogation deposits to claims data base and address differences within 2 business days Reconcile claims database with general ledger monthly and address differences within 2 business days Reconcile loss ratio data and address differences within 2 business days Process all calculations and monthly adjustments with 100% accuracy Complete accounting for and reconciliation of monthly financial data by 20 th of following month Reconcile and Record all General Agency accounting transactions: Process all calculations and monthly adjustments with 100% accuracy Prepare and distribute requested reports to Marketing Manager, Vice President of Marketing, and
Page 3 01/1/2013 IMU Underwriters on the 1 st business day following month-end Prepare and distribute Income Statement and Balance Sheet to IMU and Secretary/Treasurer by 15 th of month Update premium by product line spreadsheet by 10 th of month following quarter end Prepare and mail Account Current Statements to specific companies by the 10 th of month Prepare and mail letters to producers for return commission due on or before 10 th of month Reconcile general ledger accounts with their respective sub ledger as established with internal controls Record adjusting journal entries for year-end and verify accounts on year-end Trial Balance, Balance Sheet, and Income Statement Process General Agency Commission Statements Mark all reconciled open items within 5 business days Address discrepancies within 2 business days Accounts Payable: Prepare, code, and enter invoices daily to establish accounts payable with 100% accuracy Disburse payments in compliance with specified terms of vendor Maintain claim vendor database: add EFT/W9 information Initiate weekly Interface Process of systems data, reconcile, and file related reports for record keeping Interface Wells Fargo electronic paid file into Freedom software and verification of data between Wells Fargo and Freedom. This process completed by the 10 th of month. Process monthly commissions Process annual agent contingency commissions Process annual member dues Verify Insurance Company statements for the General Agency and address discrepancies within 2 business days Mark open items and disburse payments for General Agency as specified by the terms of the Insurance Company 1099: Prepare, enter, and disburse 1099 forms (federal reporting) by January 31 of each calendar year Prepare and reconcile 1099 data (federal reporting) for submission to the Internal Revenue Service by February 28 of each calendar year Prepare and update commission paid spreadsheet for General Agency 1099 reporting purposes Filings: Prepare all required filings with 100% accuracy and report data by the specified due date Prepare and complete Annual Statement and all related annual filings by due date Prepare and complete Quarterly filings and all related quarterly filings no later than 45 days after the close of the quarter Prepare and complete Combined Statement by May 15 th of each year Prepare and provide Budget to Actual reports 30 days after the close of the quarter Prepare Financial Statements by the 20 th of each month
Page 4 01/1/2013 Prepare and complete Tax Renditions by April 15 th of each year Prepare and complete all Special Call filings by the due date Prepare and complete annual unclaimed property filing by the due date Prepare and complete Annual Operation Report by the due date Prepare and complete Form B filing by the due date Depreciable Assets: Maintain Fixed Assets Reconcile and prepare depreciation schedules by the 10 th of the month following activity Reinsurance: Calculate reinsurance adjustments for all applicable programs by the 10 th of the following month Submit applicable reinsurance recoveries monthly to Reinsurance Broker per contract terms Apply reinsurance recovery payments to corresponding loss Calculate all reinstatement premiums on the Cat Excess program monthly when applicable Calculate and process contractual settlement Content Manager: File all related documentation for record keeping Manage stored data Maintain and enhance current applications to existing and new workflows Investments: Coordinate all aspects of general ledger accounting for investments by interfacing with external investment management firm and custodian bank Import monthly general ledger file for each business entity into Excel interface template. Import Excel interface file and supporting documentation into Content Manager Post transactions into general ledger utilizing Excel interface file Reconcile general ledger to monthly custodian statements and to investment portfolio manager reports by 10 th of month for timely distribution of financial results to management Import quarterly and year-end investment data and disclosures into Booke reporting software Research and reconcile any crosscheck issues on the quarterly/year-end regulatory reports Register bonds or stocks that require NAIC registration within 120 days of purchase Perform a quarterly impairment analysis of all securities and provide results and recommendations to management Analyze investment data through the use of external investment management firm s client portal and other various sources. Discuss results with Secretary/Treasurer at least once per quarter Organize and coordinate Investment Team projects and meetings Take required action on all mail received. Review annual commission rate changes for new year and update system as necessary (Marketing to send notifications to agents).
Page 5 01/1/2013 Verify inventory of equipment by physical count and report quarterly Prepare and process unclaimed property data utilizing Tracker software Work as needed, with software technical support staff to ensure accuracy of data input and reporting. Perform miscellaneous tasks assigned by manager, verbally or in writing, substituting for absent workers and performing any additional tasks necessary to provide data to other office personnel, outside contacts (banks, reinsurance brokers, insurance companies, auditors, etc.). The points addressed in this description outline the general duties of the position and are not meant to be all-inclusive. Additional duties may be assigned either on a temporary or permanent basis to an individual functioning in this position. The additional duties will be performed along with those addressed in this description. OTHER JOB CRITERIA: Judgment and Decision Making: Seek guidance and direction as necessary for performance of duties. Demonstrate good judgment in investigating problems. Respect the confidentiality of company information. Relationship to Others: Maintain cooperative working relationship with manager and other employees Demonstrate ability to tactfully handle difficult situations. Planning and Time Utilization: Manage time efficiently in order to meet deadlines. Consistently demonstrate ability to recognize and deal with priorities. Fully understand and responsibly utilize flextime and leave of absence. Provide proper notice of absence. Initiative: Perform all duties in an independent manner with little supervision. Recognize and perform duties that need to be performed although not directly assigned - assist others as needed. Demonstrate through daily actions the application and use of training provided. Other: Maintain a neat and organized work area. Assume a responsibility for employee morale by supporting management and presenting a positive attitude. Represent the company in a professional and respectable manner with regard to personal appearance, written and verbal communication and conduct.
Page 6 01/1/2013 This job description is given during the job interview process in order that applicants may carefully review the responsibilities, requirements and essential functions of the job for which they are applying. Do you understand the essential functions? Can you perform the essential functions of this job with or without reasonable accommodation? This is not an offer of employment nor does it comprise an employment contract. APPLICANT DATE