Senior/Assistant Manager - Financial Accounting and Advisory Services (Statutory Accounting & Reporting)

FAAS-Senior-ECRA-Insurance At EY, we’re all in to shape your future with confidence. We’ll help you succeed in a globally connected powerhouse of diverse teams and take your career wherever you want it to go. Join EY and help to build a better working world. 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 high-quality client service by overseeing and guiding the daily progress of project activities 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 Responsible for decision-making, optimizing processes, resource management, and overseeing team management as needed for task execution. Accountable for allocating personnel, supervising team members, assigning tasks, ensuring that the team has the necessary tools and support to succeed in their roles and optimizing and evaluating their performance to meet organizational goals. Skills and attributes for success Experience with insurance statutory financial reporting including familiarity with NAIC reporting schedules, risk-based capital calculations, and audit support. Strong knowledge of Insurance accounting, Insurance product, type of insurance business (P&C, L&H), line of business of insurance, life cycle of insurance business, 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, ACCA (UK), CPA, 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 EY | Building a better working world EY is building a better working world by creating new value for clients, people, society and the planet, while building trust in capital markets. Enabled by data, AI and advanced technology, EY teams help clients shape the future with confidence and develop answers for the most pressing issues of today and tomorrow. EY teams work across a full spectrum of services in assurance, consulting, tax, strategy and transactions. Fueled by sector insights, a globally connected, multi-disciplinary network and diverse ecosystem partners, EY teams can provide services in more than 150 countries and territories. Experience Level Senior Level