Department : Finance
SUMMARY : CAMICO's GAAP & Internal Reporting Manager is responsible for:
This position’s primary responsibility is the day to day accounting underlying all aspects of the GAAP & Internal financial reporting function for CAMICO and its wholly owned subsidiary CAMICO SERVICES INC. (dba-CSI). The position includes providing hands on accounting support for the GAAP & internal accounting and budget function, cash management and banking function, accounts receivable/payable functions, reinsurance accounting, as well as supervising the staff working in these functions.
The position reports to the CFO and includes other responsibilities as assigned by the CFO.
This is a hands-on manager position. It has the responsibility for both doing the work personally and by personal example, leading and managing the work of others.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.
• People Management -To ensure an effective department structure. To ensure proper staffing, monitoring of workflow and development of direct reports. To lead, motivate, support, and evaluate direct reports in the fulfillment of their responsibilities and achievements of their goals both individually and collectively.
• Financial Management & Reporting - To provide high quality (accurate, timely, purposeful, complete) GAAP & internal financial reporting to users. This position will assist the Manager of Statutory Accounting with the fulfillment of all statutory reporting to the Departments of Insurance, including the maintenance of a 1,200 required report filing calendar as required.
- Management and other internal users – budget to actual & financial analysis.
- Other external users (reinsurers, investment counsel, bankers, tax authorities) independent and Department of Insurance auditors, Board of Directors.
To lead, manage and report on the budget process including, planning & design, execution & presentation, variance reporting, forecasting and capital planning.
To assist in financial modeling, historical and proforma for the purpose of decision making in the areas of insurance, investment, tax, reinsurance, product, territory, etc.
Assist and support the CFO on all financial regulatory and operational matters, including assisting the CFO in fulfilling responsibilities as treasurer.
Support and lead as needed the Statutory Accounting Manager with the third-party audits including annual independent, Department of Insurance, reinsurers, etc.
Support the CFO as needed for the Investment and Audit Committees.
• Billings & Collections - Oversee the deductible billing function and report on activities and results. Ensure adherence of policies and procedures and to coordinate activities inter-departmentally. Ensure all cash is applied correctly and receivables are balanced and to establish and manage relationships with third party collection services.
• Cash Management Function - Direct, maintain and evaluate banking relationships for the purposes of custodianship, operations, lock box, payroll, employee benefits, etc.
Meet the cash flow requirements of the Company and prepare cash flow forecasts for Senior Management, Investment Managers, and the Investment Committee.
• Systems Development - Ensure adequate controls are in place for financial integrity and reporting in CAMICO’s policy processing and financial systems.
• Reinsurance – Manage and backup the ongoing reinsurance function, including the calculation of ceded premium and quarterly reinsurance billings, as well as the contingent commission calculations. Follow up on past due reinsurance recoverable and participate in the selection of reinsurers.
• Account Reconciliation – Review all account reconciliations including bank reconciliations and approve all journal entries as appropriate in conjunction with the Manager of Statutory Accounting.
Directly supervises employees in the GAAP & internal accounting, budget & cash management, A/R & A/P, and reinsurance functions. Is responsible for the overall direction, coordination, and evaluation of this unit. Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, hiring, and training employees as needed; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.
EDUCATION and/or EXPERIENCE:
Four-year college or university program certificate; at least five years related experience and/or training; or equivalent combination of education and experience. CPA Preferred.
Understanding financial analysis, accounting, federal income tax & premium tax and GAAP & STAT reporting.
Makes good decisions (without considering how much time it takes) based upon a mixture of analysis, wisdom, experience, and judgment; most of his/her solutions and suggestions turn out to be correct and accurate when judged over time; sought out by others for advice and solutions.
Ethics and Values
Adheres to an appropriate (for the setting) and effective set of core values and beliefs during both good and bad times; acts in line with those values; rewards the right values and disapproves of others; practices what he/she preaches.
Integrity and Trust
Is widely trusted; is seen as a direct, truthful individual; can present the unvarnished truth in an appropriate and helpful manner; keeps confidences; admits mistakes; does not misrepresent him/herself for personal gain.
Creates a climate in which people want to do their best; can motivate many kinds of direct reports and team or project members; can assess each person’s hot button and use it to get the best out of him/her; pushes tasks and decisions down; empowers others; invites input from each person and shares ownership and visibility; makes each individual feel his/her work is important; is someone people like working for and with.
Dealing with Ambiguity
Can effectively cope with change; can shift gears comfortably; can decide and act without having the total picture; isn’t upset when things are up in the air; doesn’t have to finish things before moving on; can comfortably handle risk and uncertainty.
Knows how businesses work; knowledgeable in current and possible future policies, practices, trends, technology, and information affecting his/her business and organization; knows the competition; is aware of how strategies and tactics work in the marketplace.
Relishes leading; takes unpopular stands if necessary; encourages direct and tough debate but isn’t afraid to end it and move on; is looked to for direction in a crisis; faces adversity head on; energized by tough challenges.
Learns quickly when facing new problems; a relentless and versatile learner; open to change; analyzes both success and failures for clues to improvement; experiments and will try anything to find solutions; enjoys the challenge of unfamiliar tasks; quickly grasps the essence and the underlying structure of anything.
See ahead clearly; can anticipate future consequences and trends accurately; has broad knowledge and perspective; is future oriented; can articulately paint credible pictures and visions of possibilities and likelihoods; can create competitive and breakthrough strategies and plans.
Managing Vision and Purpose
Communicates a compelling and inspired vision or sense of core purpose; talks beyond today; talks about possibilities; is optimistic; creates mileposts and symbols to rally support behind the vision; makes the vision sharable by everyone; can inspire and motivate entire units or organizations.
San Mateo, California
CAMICO's Professional Liability Claims Specialists are responsible for investigating, evaluating and resolving accountant professional liability claims and employment practice liability claims and assisting policyholders with potential claims in conformance with CAMICO’s claim handling philosophy and guidelines.
This is a position specialized in risk management and dispute resolution for Certified Public Accountants, however our policyholders provide a wide range of professional services to their clients, including tax preparation, tax compliance, bookkeeping, audits, financial planning, investment advice, trustee services, executor services, consulting and litigation support.
This position is available in our San Mateo, CA office.
Essential Duties And Responsibilities
• Manage an inventory of accountant professional liability claims and employment practice liability claims (including demands, tolling agreements, arbitrations and litigation) and other matters (including regulatory proceedings and disciplinary hearings) in all jurisdictions around the United States. Manage claims from notice to resolution, including investigating, evaluating and communicating: background; allegations; coverage; retention of defense counsel; liability; damages; exposure; reserves; disposition plan; settlement negotiations; and trial resolution.
• Possibly manage a small number of employment practice liability claims.
• Provide subpoena services and handle potential claims through our Claims hotline, providing direct assistance and guidance to our policyholders.
• Demonstrate strong communication skills with policyholders, claimants, attorneys and experts to ensure superior customer service and policyholder support.
• Comply with internal guidelines and statutory requirements for claims handling.
• Work closely with other Departments, including Loss Prevention, Underwriting, Sales, Marketing, Finance, Customer Support, Information Technology and Human Resources.
• Maintain up to date knowledge of legal, insurance and accounting developments.
• Key competencies include: - Policyholder Focus; Ethics and Values; Integrity and Trust; Action Oriented; Problem Solving; Decision Quality; Dealing with Ambiguity; Negotiating; Composure; Conflict Management; and Presentation Skills.
This job has no direct supervisory responsibilities, although it will be necessary to provide other staff members and outside vendors with guidance, assistance, mentoring and/or direction as appropriate.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.
Required Education, Experience and/or Qualifications
• College degree or university program certificate.
• Minimum of 5+ years of experience in insurance or legal environment.
• Third party insurance claims handling experience, preferably with experience in professional liability claims, or equivalent business, accounting or legal experience.
• Coverage experience, preferably with experience on professional liability claims or on ‘claims made and reported’ policy forms, including ability to prepare coverage letters.
• Knowledge of legal processes and principles of professional liability laws is preferred. • Understanding of accounting and/or tax terminology is preferred.
Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write reports, business correspondence, and procedure manuals. Ability to effectively present information and respond to questions from managers, clients, customers, and the general public.
Ability to work with mathematical concepts such as probability and statistical inference. Ability to apply concepts such as discounts, interest, fractions, percentages, ratios, and proportions. Ability to understand and report financial reserve and payment information.
Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with abstract and concrete variables. Ability to integrate data into valid plans of action and lead them to conclusion.
CERTIFICATES, LICENSES, REGISTRATIONS:
Required if handling claims in certain jurisdictions.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.br />
While performing the duties of this job, the employee is regularly required to walk; use hands to finger, handle, or feel; reach with hands and arms; and talk or hear. The employee frequently is required to sit. The employee is occasionally required to stand and walk.
The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, perception vision, and ability to adjust focus.
Employees in this position are occasionally required to travel by car and/or airplane on business related matters.
* Telephoning - transmitting as well as receiving
* Use of PC for an extended period
* Nonsmoking area
* Professional appearance
* Writing and typing abilities
* Ability to use office machines - ie. copy machines, scanners, printers
* Use of public transportation (rental car, bus, taxi, airplane, and train)
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate.
CAMICO encourages the health and financial well-being of its employees by providing a comprehensive benefits program to meet the personal needs of its employees and their families. A partial list of CAMICO's comprehensive benefit program includes:
- Medical (Blue Cross PPO plans, HSA Plans & Kaiser HMO & HSA)
- Group Life
- Voluntary Term Life Insurance
- Flexible Spending Account
- 401(k) Savings Program with Employer Match
- 9 paid holidays plus 1 floater