Financial Accountant

MEMIC | Portland, ME

Posted Date 10/09/2019

The Financial Accountant position contributes to many functions in the Financial Reporting and Treasury and Operations Departments of finance, including but not limited to; cash management, budgetary preparation, analysis and reporting, abandoned property, 1099 filings, dividend calculations, deductible billing and other accounting journal entries, transactions and associated reconciliations. Supports financial decision-making by collecting, analyzing, investigating, and reporting financial data.

  • Prepares daily cash journal entries into general ledger and associated daily or monthly and year-end account general ledger account reconciliations and journal entries for the MEMIC Group, including but not limited to, paid and case reserve losses, chargebacks, write-offs, reinsurance, written and ceded premium, commissions, premiums receivable, installment fees, other accruals and prepaids. Assists in general accounting, billing, reconciliation, and reporting functions of the Company as required for all MEMIC Group Entities.
  • Communicates regularly through email and phone to resolve any issues with external banking contacts, internal colleagues, agents, or policyholders for treasury management, employee expenses reports, dividends or deductible billing.
  • Assists with compliance and timely filing of 1099’s and abandoned property for MEMIC group.
  • Support Statutory Reporting Lead in research, calculation and preparation of monthly policyholder dividends including timely preparation, communication to underwriting and follow through on any necessary corrections.
  • Oversees accuracy of employee expense report for timely and accurate general ledger coding and adherence to MEMIC Group policy. Follows up as necessary.
  • Oversees accuracy of deductible billing, timely reporting of aging balances, communication to billing and underwriting team, follows through on any necessary corrections in the deductible billing system.
  • Prepares monthly reconciliations or reports by collecting data; analyzing and investigating variances; summarizing data, information, and trends.
  • Responds to financial inquiries from internal and external business partners by gathering, analyzing, summarizing, and interpreting data.
  • Provides financial advice by studying operational issues; applying financial principles and practices; developing policy and procedures or reconciliation recommendations.
  • Prepares and supports monthly, quarterly and annual financial reporting, budgeting and forecasts, as necessary. Participates in preparation and analysis of annual budget.
  • Updates job knowledge by keeping current with financial regulations and accepted practices; participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
  • Obtains knowledge of insurance statutory reporting requirements by researching appropriate accounting literature and attending insurance accounting seminars as necessary.
  • Act as a consultant to managers and analyzes financial trends.


  • Bachelor’s degree in Accounting, Finance or related field with 2-3 years of general ledger accounting experience and industry experience or equivalent work and education experience.
  • Must have a sound understanding of accounting procedures and strong analytical skills.
  • Ability to work independently while demonstrating initiative and creativity.
  • Ability to complete projects on a timely basis, identify problems and bring them to the attention of supervisor.
  • Strong verbal and written communication skills required.
  • Must be proficient in Microsoft Office and Excel.
  • Excellent math skills with a high attention to detail.

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.

Geographic Region
Greater Portland/Casco Bay

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