The Controller plays a vital role in safeguarding the financial health of Gleaner Life Insurance Society by overseeing the general ledger, ensuring the accuracy of financial statements, and maintaining compliance with all regulatory requirements. The Controller supports this function by assisting in the preparation of monthly, quarterly, and annual financial statements, performing investment accounting, contributing to year-end audit readiness, and calculating the Asset Valuation Reserve (AVR) and Interest Maintenance Reserve (IMR). This role also requires developing a foundational understanding of reserve calculations for life and annuity products. As the organization grows, the Controller is expected to assume increased leadership responsibilities, including the potential supervision and development of finance staff
Essential Duties and Responsibilities
Financial Reporting and Analysis:
- Prepare, review, and analyze monthly, quarterly, and annual statutory financial statements.
- Ensure financial reporting complies with NAIC Statements of Statutory Accounting Principles and applicable regulatory requirements.
- Prepare and submit required statutory filings to NAIC and state insurance departments.
- Prepare financial schedules and support documentation for management, Board reporting, and rating agencies.
Regulatory Filings:
- Facilitate the timely and accurate preparation and submission of all required regulatory filings.
- Monitor, process, and reconcile periodic assessments, fees, and regulatory payments related to NAIC and state agencies.
- Maintain documentation to support regulatory examinations and inquiries.
Accounting Functions & Treasury Operations:
- Manage and maintain the general ledger, ensuring accuracy, completeness, and timely close processes.
- Perform investment accounting, including reconciliation and reporting of the investment portfolio.
- Calculate and maintain the Asset Valuation Reserve (AVR) and Interest Maintenance Reserve (IMR).
- Develop and maintain foundational understanding of reserve calculations for life and annuity products in coordination with actuarial partners.
- Complete monthly account reconciliations and maintain accurate asset accounting records.
- Oversee treasury operations, including ACH processing, positive pay files, wire transfers, and stop payment requests through online banking platforms.
Audit, Leadership, and External Coordination
- Coordinate interim and annual external audits and serve as the primary liaison with independent auditors.
- Collaborate with consulting actuaries, asset managers, and regulators to support financial and statutory reporting needs.
- Ensure audit readiness through maintenance of supporting schedules, reconciliations, and documentation.
- Provide functional guidance, training, and review of accounting activities performed by Finance Department staff.
- Participate in the development of accounting procedures, documentation, and internal controls in preparation for future team expansion.
Budgeting and Forecasting:
- Facilitate budget preparation, monitoring, and variance analysis.
- Partner with department leaders to support accurate forecasting and financial planning.
- Review daily, monthly, and annual accounting activities to ensure consistency and accuracy
Special Projects and Continuous Improvement:
- Act as a backup for key finance functions, including daily premium reporting, accounts payable, and check processing.
- Participate in special projects, system implementations, and process improvement initiatives as assigned
Supervisor Requirements
- This position does not currently have direct supervisory responsibility.
- As the Finance Department evolves, this role is expected to assume direct supervisory responsibility for accounting staff, including hiring, training, performance management, and workload oversight.
Language and Communication Skills
- Excellent verbal and written communication skills for effective interaction with members, agents, colleagues, management, and external business partners.
- Ability to clearly and tactfully explain financial and statutory information to audiences with varying levels of financial expertise.
Position Requirements
Education, Knowledge & Experience
- Bachelor’s degree in accounting, Finance, or a related field.
- Minimum of 5–7 years of progressive experience in accounting or financial reporting, preferably within the insurance industry.
- Knowledge of Statutory Accounting Principles and NAIC reporting requirements are highly preferred.
Mathematical Skills
- Advanced accounting and mathematical skills.
- Proficiency in algebra and financial calculations for analysis and problem-solving.
Computer Skills
- Advanced proficiency in Microsoft Office applications, particularly Excel.
- Experience with accounting systems such as Sage 300.
- Familiarity with industry and workflow tools including SOVOS, OnBase, and Workfront.
- Competence with online banking platforms and financial reporting systems.
Professional Designations
- CPA certification or equivalent experience is strongly preferred.
- Insurance-related designations (e.g., FLMI) are a plus.
Other Skills & Abilities
- Strong organizational skills and exceptional attention to detail.
- Ability to analyze, interpret, and synthesize complex financial data.
- Solid understanding of cash management and treasury practices.
- Self-directed with strong time management and prioritization skills.
- Demonstrated integrity and ability to maintain confidentiality.
- Proficiency in creating charts, graphs, and analytical presentations in Excel.
- Collaborative mindset with the ability to work effectively across departments
Work Conditions
- Primarily office-based with extended periods of sitting and computer use.
- Occasional off-shift work required during quarter-end, year-end, and audit periods.
- May involve occasional lifting, bending, and reaching.
