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Insurance Data Analyst I or II

Company: National Indemnity Company
Location: Omaha
Posted on: January 9, 2021

Job Description:

Company:NICO National Indemnity CompanyAs a member of the Berkshire Hathaway group of insurance companies, we offer outstanding opportunities for professionals interested in working with a successful company. We offer unparalleled financial strength, stability and "large company" benefits, in addition to an exciting, friendly, "small company" atmosphere.Job Objective:Responsible for preparing, analyzing, and communicating working papers and statistical and management information related to several insurance and reinsurance operations and/or contracted insurance programs (i.e. "programs") within the responsibilities of the Insurance Data Management Unit ("Unit"), whether originating from Home Office or in other (non-Home Office) locations. The activities include but are not limited to insurance data collection, data transfers, data manipulation and/or analysis, accounting, cash activity, financial and statistical reporting of one or more current categories of Unit responsibility (i.e. BHSID, programs, data management, and data collection/reporting). Completes special reports required by States or agencies and compiles data for Finance personnel, Berkshire Hathaway Corporate personnel ("BH Corporate"), actuaries, auditors, examiners and Company managers under supervision and review of the Manager/Administrator.Major Duties:

  • Compiles, reviews, analyzes and reconciles, and interprets financial and insurance information from various sources and prepares working papers, supplementary schedules for one or more companies or programs and summarizes program underwriting results. This may include statutory annual statements and/or separate financial statement packages and information for assigned companies or programs.
  • Processes payment requests for funding programs and loss payments by obtaining and verifying approvals for payments and ensuring timely payments. Records cash receipts and payments for programs into control spreadsheets. Maintains controls and prepares reconciliations of cash for programs, updating general ledgers with coding and journal entries. Prepares intercompany cash settlements documents for programs and ensures that settlements are made and recorded properly.
  • Coordinates communication of daily, monthly, and year end accounting, and financial statement and/or program information between Stamford, Connecticut, Boston, Massachusetts and/or other program operating locations and Omaha. Responsible for review, analysis, and inquiries with respect to this information, including development and completion of management reports. Answers questions and provides information as needed to management, auditors, examiners, actuary and accountants.
  • May perform the duties of the Financial Database Coordinator under supervision of the Senior Finance Manager - FIS. Which includes but not limited to, coordinating with BH Systems and the Finance dept. to make updates in the Financial Database Systems, identifies potential program enhancements to existing applications or develops new applications, instructs programmers and Finance personnel about changes, and performs overall Financial Database balancing and control checks and determines overall Financial Database accuracy for the Finance Department to use. May prepare, balance, and determine overall completeness and correctness of the Page 14 databases quarterly.
  • May calculate and prepare supplemental reserves, IBNR factors and mainframe reserving system information used for completing supplemental reserves and IBNR allocations, according to management guidelines and internal controls. Instructs programmers on changes to programs that build supplemental reserves and IBNR allocations.
  • Assists in the development and maintenance of PC program applications using spreadsheet and/or database software to create processing systems and specific worksheets and databases used to meet various job duties. Assists in the development and maintenance of downloaded PC databases from mainframe computer systems as needed. May assist in development of mainframe computer systems for use with insurance company data and systems.
  • May compile and analyze historical and current financial, statistical, and insurance information for Company management including special one-time projects. May complete special reports required by States or agencies by assessing and gathering data from appropriate source and compiling information to send to States or agencies. May assist in preparation of insurance information schedules, including premium , loss and reserve summaries, paid loss, reserve and incurred developments, and historic and current summaries of companies' insurance data for review and use by company senior managers, BH Corporate, department managers, tax specialists, actuaries, examiners and IRS personnel for BH 10K reporting, management, tax, actuarial, audit and examination purposes.
  • Maintains current working knowledge of related insurance accounting and financial reporting developments by researching (reading related materials) and discussing with others.
  • Responds to inquiries from internal and external auditors regarding financial transactions, balances and procedures.
  • Performs duties of and trains or assists Insurance Data Analyst I as needed.
  • Performs special projects or related duties as assigned or as situation dictates.Qualifications:
    • Bachelor degree in accounting or related field or equivalent
    • Knowledge of general accounting principles
    • Personal computer, related software, and basic applications such as Excel and Word
    • Life or property casualty insurance accounting experience
    • 1-2 years related work experience
    • Company and department practices and proceduresPreferred Knowledge:
      • Knowledge of financial reporting
      • Knowledge of statutory accounting principles
      • Knowledge of Microsoft AccessA comprehensive benefits package is available for regular, full-time employees, including health, vision, dental, life and disability insurance as well as a 401(k) with company match. We also proudly offer 100% upfront tuition reimbursement to regular, full-time employees, to further your education. Our Omaha office boasts a complimentary state-of-the-art, on-site gym, a robust wellness program, low-cost downtown parking, and numerous volunteer and networking opportunities with other emerging professionals.

Keywords: National Indemnity Company, Omaha , Insurance Data Analyst I or II, Accounting, Auditing , Omaha, Nebraska

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