Assistant Controller

Assistant Controller

Our client is seeking an experienced and detail-oriented Assistant Controller to support the Controller in managing the financial operations of our Maryland-based automobile insurance company. This role is central to ensuring the integrity of financial and statutory reporting, maintaining compliance with GAAP and NAIC statutory accounting principles, and driving continuous improvement across the accounting function. The ideal candidate combines strong technical accounting skills with hands-on insurance industry experience — including Annual Statement preparation, investment accounting, and reinsurance accounting — along with a collaborative leadership style and a commitment to accuracy and timeliness.

Role Overview

Key Responsibilities

• Financial Reporting & Close (GAAP and Statutory)
• Assist the Controller in overseeing the month-end, quarter-end, and year-end close processes to ensure timely and accurate financial reporting under both GAAP and Statutory Accounting Principles (SAP).
• Manage start-to-finish preparation of financial statements, account reconciliations, and supporting schedules, ensuring consistency between GAAP books and statutory filings.
• Lead or support preparation of the NAIC Annual Statement and related Quarterly Statements, including all schedules, exhibits, interrogatories, and supplemental filings.
• Prepare and/or review Risk-Based Capital (RBC) calculations and related regulatory filings.
• Analyze financial results, identify variances between GAAP and statutory results, and communicate findings to management with clarity and insight.
• Coordinate preparation of internal and external financial reports, including board presentations and management packages.

• Investment Accounting
• Oversee accounting and reporting for the investment portfolio, including bonds, equities, and other invested assets, under both GAAP and SAP.
• Prepare and review investment schedules for the Annual Statement (e.g., Schedule D and related exhibits), including purchases, sales, maturities, and impairment analysis.
• Reconcile investment accounting records to custodian and investment manager statements, and coordinate with external investment advisors as needed.
• Monitor and account for realized/unrealized gains and losses, amortization of premium/discount, and other-than-temporary impairment (OTTI) considerations.

• Reinsurance Contract Management
• Administer accounting for ceded and assumed reinsurance contracts, including premium, loss, and commission accounting.
• Maintain reinsurance contract records, monitor treaty terms, and ensure accurate reflection of reinsurance recoverables and payables on both a GAAP and statutory basis.
• Prepare reinsurance-related schedules and disclosures for the Annual Statement and support reinsurance audits and reviews.
• Partner with actuarial and underwriting teams to ensure proper accounting treatment of new and renewing reinsurance agreements.

• General Ledger & Accounting Operations
• Oversee general ledger maintenance, ensuring all journal entries are accurate, properly documented, and appropriately approved.
• Review and approve account reconciliations across all balance sheet accounts, including premium, loss reserve, and reinsurance-related accounts, on a monthly basis.
• Manage and mentor accounting staff, providing guidance, training, and performance feedback.
• Identify and implement process improvements to enhance efficiency, accuracy, and scalability of accounting operations.

• Compliance & Internal Controls
• Maintain and strengthen internal controls over financial reporting, ensuring compliance with company policies and regulatory requirements.
• Support internal and external audit activities, including financial statement audits and NAIC/state insurance department examinations.
• Ensure compliance with Maryland Insurance Administration requirements and other applicable state, federal, and NAIC reporting standards.

• Budgeting & Forecasting
• Assist in the development and management of the annual budget and periodic forecasts.
• Partner with business unit leaders to analyze budget-to-actual variances and support sound financial decision-making.

• Systems & Special Projects
• Support accounting system enhancements, ERP and statutory reporting software implementations or upgrades, and other technology initiatives.
• Lead or contribute to ad hoc financial analysis projects and strategic initiatives as directed by the Controller or CFO.

Requirements

• Bachelor's degree in accounting, finance, or a related field; CPA preferred.
• 5+ years of progressive accounting experience, including 2 years in a senior accounting role.
• Solid knowledge of U.S. GAAP, financial reporting, and internal controls.
• Proven ability to manage and prioritize multiple deadlines in a fast-paced environment.
• Strong analytical, problem-solving, and organizational skills with exceptional attention to detail.
• Advanced Microsoft Excel skills.
• Excellent written and verbal communication skills, with the ability to present financial information clearly to both financial and non-financial audiences.
• High degree of integrity, professionalism, and discretion in handling sensitive financial information.

Preferred:

• Direct experience in the property & casualty / auto insurance industry, with hands-on knowledge of Statutory Accounting Principles (SAP/STAT) and NAIC Annual Statement preparation.
• Experience with investment accounting, including bond amortization, impairment analysis, and Schedule D reporting.
• Experience with reinsurance accounting, including ceded/assumed premium and loss accounting and treaty administration.
• Familiarity with loss and LAE reserving concepts and coordination with actuarial functions.
• Public accounting experience (Big 4 or regional firm), particularly within an insurance practice, is advantageous.
• Bachelor's degree in Finance, Accounting, or related field (or equivalent experience).

ATR is an Equal Opportunity Employer (EOE) who will provide equal employment opportunity to employees and applicants for employment without regard to race, ethnicity, religion, color, sex, pregnancy, national origin, age, veteran status, ancestry, sexual orientation, gender identity or expression, marital status, family structure, genetic information, or mental or physical disability.