Financial Analyst

The Mission of The MEMIC Group is to make workers' comp work better with compassion, trusted partnerships, and relentless commitment to workforce safety. The secret to the success and longevity of great organizations is their shared vision and strong values. At MEMIC our values are to be conscientious, to be an expert, to be a partner, to be curious and to be transparent.

The Financial Analyst position contributes to many functions in the Finance and Risk departments, including but not limited to; dividend calculations, deductible billing and other accounting journal entries, transactions and associated reconciliations. Supports financial decision-making by collecting, analyzing, investigating, and reporting financial data.

Principal Duties and Responsibilities:

• **Prepares timely completion of the accounting, calculations, payment, plan and state specific compliance and preparation for policyholder dividends for MEMIC Indemnity and MEMIC Casualty.
• **Prepares payment requests and supporting documentation for approved out-of-state dividend calculations on a monthly basis.
• **With regard to policyholder dividends, acts as liaison to underwriting team and coordinates with underwriting compliance for resolving issues and timely and accurate payment of dividends, follow up reissuance, corrections, appropriate documentation in finance, ImageWright.
• **Responsible for monthly deductible billing process, ensures monthly bills and overdue statements are sent timely and accurately.
• **Supports large deductible related collateral requirements and prefunded plans including the tracking of adjustment schedules, calculating periodic collateral adjustments, and coordinating with underwriting, agents, and policyholders to ensure timely receipt/disbursement of collateral funds and coordinates underwriting, agents, and policyholders.
• **Prepares monthly reporting requirements for deductible billing aging reports and associated reporting of collateral, journal entries and associated reconciliations.
• **Provides customer service support for deductible billing and associated support to premium billing and underwriting teams.
• **Prepares general ledger journal entry and reconciliation including, but not limited to, the areas of accrued liabilities, prepaid expenses, paid losses and case reserves, reinsurance, premiums receivable, commissions, assessments, payroll and other statutory and GAAP related reconciliations for the workers’ compensation and EPLI lines of business.

Minimum Knowledge, Skills, and Abilities: 

1.Bachelor’s Degree with a minimum of 2 years’ work experience or equivalent work and education experience required. Finance or Underwriting experience strongly preferred.

2.Intermediate business perspective including some understanding of the political nature of the organization.

3.Ability to work well in tight timeframes and deadlines.

4.Intermediate to advanced data utilization skills to access and gather data, including a basic understanding of what the data represents.

5.Advanced problem solving and decision-making skills.

6.Ability to identify customers’ needs and takes appropriate action to meet those needs.

7.Advanced skill/competency level demonstrates advanced knowledge and ability; can apply the competency in new or complex situations.

8.Proficient in Microsoft Excel, Word, PowerPoint is must.

Working Conditions

1.Normal office environment with minimal exposure to excessive noise and temperature variations.

2.Willingness to travel among company sites as needed.

3.Will be required to stand and/or sit for extended periods.

4.Will be required to work with a Video Display Terminal.

5.May be required to do occasional reaching and bending.

6.May be required to occasionally exert physical effort (lifting/carrying) using appropriate equipment if needed.

7.Full-time is required.

Reporting Relationship Manager of Financial Accounting

**Denotes Essential Functions

Our comprehensive benefits package includes all traditional offerings such as:

• Health Insurance options, Dental Insurance options and Vision Insurance
• Employee Life Insurance/AD&D and Dependent Life Insurance options
• Short-term & Long-term Disability
• Health Savings Account with potential employer match
• Flexible Medical and Dependent Care Account
• Accident Insurance
• Critical Illness Insurance
• Employee Assistance Program
• Legal/Identify Theft Insurance options
• Long Term Care Insurance
• Pet Insurance
• 401 (k) Retirement Plan with match up to 5%, plus profit sharing & discretionary contributions (subject to vesting)
• 5 weeks of Paid Time Off (PTO)
• 10 paid holidays

We also offer other benefits to help foster a healthy, balance lifestyle such as:

• Flextime schedules
• Paid Parental Leave
• Student loan paydown and refinancing assistance
• Educational assistance for job related courses, seminars, certifications or degrees
• One paid day every year to volunteer for your non-profit of choice
• On-site fitness center (Maine & Virginia) or fitness reimbursement
• Subsidized parking
• Sit-Stand desks & daily stretch breaks

MEMIC is committed to a policy of nondiscrimination and equal opportunity for all employees and qualified applicants without regard to race, color, religious creed, national origin, ancestry, age, disability, genetics, gender identity, veteran's status, sexual orientation, or any other characteristic protected by law. MEMIC is an equal opportunity employer encouraging diversity in the workplace. '

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