EY- Assurance – Senior/Assistant Manager- FAAS – Statutory/NAIC  Accounting & Reporting

As part of our EY-Assurance Team, the Senior/Assistant Manager will be responsible for working closely with FAAS managers and Senior Managers on clients and engagements across Americas for accounting and reporting as per the Statutory Accounting Principal of NAIC.

The opportunity

We’re looking for incumbents who is responsible for the timeliness and quality of the work as per Project requirements for our FAAS team and possess good accounting knowledge under US GAAP and Statutory Accounting Principal of NAIC. The role requires prior experience and knowledge of accounting and reporting as per the US GAAP and Statutory Accounting Principal of NAIC.

Your key responsibilities

• Prepare and review quarterly and annual statutory financial statements, including Risk-Based Capital (RBC) filings, April supplementals, and other NAIC-required schedules.
• Preparation of statutory filing with state regulators.
• Compile and validate supporting schedules, exhibits, and footnotes for NAIC filings.
• Ensure compliance with NAIC Accounting Practices and Procedures Manual and state-specific requirements.
• Maintain documentation of differences between US GAAP and NAIC SAP and perform GAAP-to-STAT adjustments.
• Ensure maintaining accurate financial records for regulatory reporting.
• Collaborate with external auditors and regulators during statutory audits and respond to inquiries related to statutory financial reporting.
• Monitor changes in statutory accounting regulations and standards to ensure ongoing compliance
• Collaborate in responding regulatory comments and ongoing communication with state insurance departments
• Assistance in development of internal documents, processes, controls, SOPs, flow charts, checklists, etc. to ensure training and support smooth processing of transactions.
• Identify scope for automation of activities and suggest tools and solutions
• Ensure adherence and meeting the KPIs and SLA
• Receive direction from the Manager and Senior Manager
• Maintain effective coordination with multiple stakeholders
• Build the necessary documents like SOPs and other end user training materials
• Ensure quality in delivering client service by directing daily progress of fieldwork, informing Supervisors of engagement status
• Follow through on client requests in a timely fashion, and manage expectations regarding the timing of

deliverables and reports

• Supporting the development and management of the relationships with external and internal (EY) clients
• Demonstrate a good understanding of accounting concepts; stay informed of professional standards and firm policies (e.g., guidelines of the EY FAAS Policy Manual); and effectively apply this knowledge to moderately difficult and/or complex client situation

Skills and attributes for success

• Experience with insurance statutory financial reporting including familiarity with NAIC reporting schedules, risk-based capital calculations, and audit support.
• Knowledge of key important concept of insurance reporting (e.g., Reinsurance, Type of Reinsurance, Separate Accounts, General Account, Asset Valuation Reserve, Interest Maintenance Reserve and Protected Accounts) will be value added

• Understanding of reinsurance accounting, loss reserves, premiums, and operational expenses according to statutory requirements.
• Experience with accounting software(e.g., SAP, Oracle) and reporting systems (e.g., GAIN, Wings) is advantageous.
• Ability to work in a deadline-driven environment, manage regulatory compliance, and maintain high accuracy.
• The ability to work independently in a fast-paced, dynamic team-oriented environment.
• Strong communication skills for collaboration with management, auditors, regulators, and internal stakeholders
• Analytical skills to interpret complex financial data and prepare detailed financial and regulatory reports.

• Ability and comfort level in researching client inquires and emerging issues, including regulations, industry practices and new technologies

To qualify for the role, you must have

• CA, Semi Qualified CA, ACCA (UK), B.Com, M.Com, MBA or other relevant qualification
• 3- 6 years relevant experience including experience in Financial Reporting(US GAAP/Statutory Accounting Principal

Ideally, you’ll also have

• Proficiency in MS – Excel, MS – Office.
• Knowledge on any Data analytics/visualisation tools will be additional advantage.
• Flexibility and willingness to travel on short notice, as necessary
• Good communication, Interpersonal, Analytical Skills & highly proactive in approach

About EY

EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.

About EY Global Delivery Services (GDS) Assurance

EY Global Delivery Services (GDS) Assurance practice supports global EY client–serving teams with their reviews across industry sectors, including financial services, manufacturing and technology, among others. Through the right multidisciplinary team of professionals with the sector knowledge and subject matter expertise, EY GDS Assurance enables EY client teams in over 30 countries to help world’s leading companies meet their assurance requirements.

What we look for

• A Team of people with commercial acumen, technical experience and enthusiasm to learn new things in this fast-moving environment
• An opportunity to be a part of market-leading, multi-disciplinary team of 7200 + professionals, in the only integrated global assurance business worldwide.
• Opportunities to work with EY GDS Assurance practices globally with leading businesses across a range of industries