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 Planning Analyst contributes to the overall financial analysis of the MEMIC Group including statutory business projections and analysis, the reinsurance renewal preparation, relationship and analysis, assisting in Enterprise Risk Management, support of the Annual AM Best Analysis and presentation as well as the support of the actuarial projections, reporting and analysis for the insurance entities of the MEMIC Group.

Principal Duties and Responsibilities

* Roll forward and associated reasonableness analysis for the MEMIC Group business projections for internal and external use for the Board of Directors, Senior Management, regulators, AM Best and all external financial statement auditors, investment managers and consultants.

* Facilitates the monthly and quarterly roll forward and updating of various Financial Statements and key metrics, including but not limited to Regional P&Ls, Business Segment P&Ls, ULAE reporting, and Loss and LAE reporting.

* Maintains, updates, and analyzes the Loss and IBNR position for each risk bearing entity, with collaboration from internal actuaries and members of the Financial Planning Team.

* Contributes to general risk management and business continuity, including maintenance and analysis of Risk Appetite Statement Dashboard and required compliance document, roll forward of call trees and continuity plans, and any required control testing, as needed.

* Assists in the updating of periodic loss development reporting for the risk bearing entities and coordinates with internal and external actuary. Supports the external actuarial review, as necessary in January and July, ensures timely and accurate data is provided.

* Supports Vice President, Risk Management with metrics associated with ORSA Executive Dashboard, analytics and updating, as needed.

* Prepares Annual Maine Bureau of Insurance or New Hampshire Insurance Department business projections, reporting and coordination of Form B, C, D or E support for external attorneys and associated filing and follow up.

Minimum Knowledge, Skills and Abilities

Bachelor’s degree with a minimum of one year work experience in finance or equivalent work and education experience.
Must have a sound understanding of complex accounting procedures, strong analytical skills and have ability to take initiative on projects requiring communication with internal or external sources.
Strong interpersonal, verbal and written communication skills at all levels across the organization as well as with external business partners a must.
Ability to work independently, support the CFO on various analysis and reporting to the Board of Directors, as necessary.
Willing to accept new responsibilities, work well under pressure, adjust to shifting priorities, and handle multiple tasks.
Strong time management skills.
Proficient in Microsoft Office, including Excel, Word, Access and PowerPoint, ability to explore PowerBI and other data related analytic software, as required.
Strong research skills and excellent analytical abilities to interpret the effects of complex accounting practices on all entities of the MEMIC Group.

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)
11 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.

Actuarial Jobs in Maine

Financial Planning Analyst

Financial Planning Analyst