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Work at MEMIC


Job Openings

Statutory Financial Analyst

Location: Portland, ME 

General Description:
The Statutory Financial Analyst’s primary responsibilities include insurance related financial regulatory compliance. This includes preparing and submitting quarterly and annual regulatory filings; preparation of quarterly pass thru assessments; financial call research; testing and preparation for NCCI and other rating agencies; as well as miscellaneous statutory, regulatory and other license-related applications and filings.


Responsibilities:
  • Responsible for quarterly pass-thru assessment payment and reconciliation of periodic general ledger to the various state regulatory agencies and any associated follow-up.
  • Interprets and researches various state-related financial call components, filings, confirms loss cost multipliers and other applicable considerations with NCCI and various state rating agencies; coordinates with the underwriting compliance department and performs interim and year-end testing.
  • Follows up on any financial call-related inquiries from NCCI and other independent rating boards to resolve in a timely manner. 
  • Prepares various state regulatory miscellaneous filings in applicable states and monitors appropriate due dates.
  • Maintains inventory, filing and payment of all certificates of authorities to conduct insurance business for risk bearing entities and the MEMIC Agency.
  • Responsible for premium, commission and/or assessment related accruals and reporting as well as reconciliation for workers' compensation as it pertains to state-specific accruals.
  • Attends industry and Company events as well as internal meetings upon request.
  • Responds to internal and external inquiries using problem solving and independent judgment.

Requirements:

  • Bachelor's degree with 3-5 years of proven experience in finance, insurance or compliance or an equivalent combination of work and education experience. 
  • Strong working knowledge of Microsoft Excel functions and formatting.
  • Strong research skills and excellent analytical abilities to interpret the effects of complex accounting practices on combined companies is a must.
  • Strong interpersonal and customer skills, including the ability to listen and communicate clearly.
  • Sound independent judgment, critical thinking, problem solving and decision making skills.
  • Must be self-motivated, able to work independently and results driven.
  • Strong organization and time management skills along with strong attention to detail are necessary.
  • Willing to accept new responsibilities, work well under pressure, adjust to shifting priorities, and handle multiple tasks.

How to Apply: 

  Apply by emailing resume to hr@memic.com. You can also reach us by calling 1-800-660-1306.