FAAS-Senior Manager-ECRA-Stat Reporting

EY- Assurance –Senior Manager - FAAS – Statutory/NAIC Accounting & Reporting

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About Global Delivery Services

Global Delivery Services refers to EY's worldwide network of service delivery centers. The GDS team plays an important role in EY’s strategy by ensuring effective support to EY’s growth agenda.

Our journey started in 2002 with approximately 200 people. Today we stand at 80,000+ professionals in ten locations around the world. We operate in Argentina, China, Hungary, India, Philippines, Poland, Sri Lanka, Mexico, Spain and the United Kingdom.

Client service is focused on providing Consulting, Assurance, Tax, Strategy & Transactions, and Knowledge support to our clients around the world. The teams enable account teams worldwide to provide seamless, high-quality, value-added support, helping deliver exceptional client service.

Enablement Services provides cost-effective, high-skilled, and innovative services to support EY’s global and local enablement teams. Markets, BMC, AWS, Finance and Accounting, Risk Management, Procurement, People Shared Services, IT Service Delivery and IT Global Infrastructure services, are among the services offered by Enablement Services.

Our innovation specialists serve the GDS Client Service and Enablement Services teams, along with Service Lines, Core Business Services and Sectors. The team brings the desired environment, technologies and skilled teams together for facilitation, rapid prototyping and innovative thinking. The competencies offered include analytics, digital, user experience, mobile technology, infrastructure, Microsoft technologies and open innovation.

The Opportunity

We’re looking for incumbents who is responsible for the timeliness and quality of the work as per Project requirements for our FAAS team and possess strong accounting knowledge under US GAAP and Statutory Accounting Principal of NAIC. The role requires prior experience and knowledge of leading project of accounting and reporting as per the US GAAP and Statutory Accounting Principal of NAIC

Your Key Responsibilities

• Prepare and review quarterly and annual statutory financial statements, including Risk-Based Capital (RBC) filings, April supplementals, and other NAIC-required schedules.


• Compile and validate supporting schedules, exhibits, and footnotes for NAIC filings.


• Exhibit controllership skills to ensure compliance with NAIC Accounting Practices and Procedures Manual and state-specific requirements.


• Maintain documentation of differences between US GAAP and Statutory Accounting Principal of NAIC and perform GAAP-to-STAT adjustments.


• Ensure maintaining accurate financial records for regulatory reporting.


• Collaborate in responding regulatory comments and ongoing communication with state insurance departments


• Monitor changes in statutory accounting regulations and standards to ensure ongoing compliance


• Lead in responding regulatory comments and ongoing communication with state insurance departments.


• Ensuring timely resolution of customer, clients and other stakeholder queries related to sales and order activities.


• Ensure adherence and meeting the KPIs and SLA and escalation management if any


• Ensuring compliance with the control procedures within the entire accounting and reporting function and compliance with relevant regulatory requirements, if any


• Analyse best practices of the industry and incorporate insights from benchmarking into process improvements.


• Development of internal documents, processes, controls, SOPs, flow charts, checklists, etc. to ensure training and support smooth processing of transactions


• Identify scope for automation of activities and suggest tools and solutions


• Leading a team of 10-15 team members including engagement PMO activities


• Receive direction from the Partner and leadership and Support PPED in business development activities


• Maintain effective coordination with multiple stakeholders


• Detailed review of work performed by team members


• Analytical Review and provide necessary commentary


• Build the necessary documents like SOPs and other end user training materials


• Use the available guidance’s on USGAAP/NAIC Accounting Principal for providing technical support, as and when required


• Designs and delivers engaging training sessions to enhance team capabilities and performance


• Ensure high-quality client service by overseeing and guiding the daily progress of engagement tasks


• Supporting the development and management of the relationships with external and internal (EY) clients


• Engaged in hiring of team members, structured learning path and operations mentor for the team


• Follow through on client requests in a timely fashion, and manage expectations regarding the timing of deliverables and reports


• Demonstrate a good understanding of accounting concepts; stay informed of professional standards and firm policies (e.g., guidelines of the EY FAAS Policy Manual); and effectively apply this knowledge to moderately difficult and/or complex client situation

Skills and attributes for success

• Strong knowledge and experience of Insurance accounting, Insurance product, type of insurance business (P&C, L&H), line of business of insurance, life cycle of insurance business,


• Experience with insurance statutory financial reporting including familiarity with NAIC reporting schedules, risk-based capital calculations, and audit support.


• Good knowledge of key important concept of insurance reporting (e.g., Reinsurance, Type of Reinsurance, Separate Accounts, General Account, Asset Valuation Reserve, Interest Maintenance Reserve and Protected Accounts)


• Demonstrates exceptional verbal and written communication skills to convey complex ideas clearly and persuasively.


• A dedication to teamwork and leadership


• Communicate effectively with clients to understand requirements and provide timely updates.


• Lead the preparation and review of financial statements and disclosures in accordance with Statutory Accounting Principal of NAIC.


• Ability to conduct detailed variance analysis to enable management reporting and audit readiness


• Strong proficiency with accounting software & reporting tools (e.g., SAP, Oracle, Oracle Financials, GAIN, Wings, CDM, Workiva and similar applications) and advanced Excel skills. Familiarity with financial reporting tools and the ability to participate in system upgrades and testing.


• Contribute to the automation of accounting processes to improve efficiency and reduce manual intervention. Drive the standardization of accounting schemas and accounting practices across multiple legal entities


• The ability to work independently in a fast-paced, dynamic team-oriented environment


• Manage and mentor a high-performing finance team, conducting regular performance appraisals and career development planning.


• Exhibit controllership skills and to provide relevant inputs to client for process efficiency


• Ability and comfort level in researching client inquires and emerging issues, including regulations, industry practices and new technologies

To qualify for the role, you must have

• CA , ACCA (UK), CPA or other relevant qualification


• 10-15 years relevant experience including experience in Financial Reporting (US GAAP/Statutory Accounting Principal

Ideally, you’ll also have

• Proficiency in MS – Excel, MS – Office.


• Knowledge on any Data analytics/visualisation tools will be additional advantage.


• Flexibility and willingness to travel on short notice, as necessary


• Strong communication, Interpersonal, Analytical Skills & highly proactive in approach

What we offer you

At EY, we’ll develop you with future-focused skills and equip you with world-class experiences. We’ll empower you in a flexible environment, and fuel you and your extraordinary talents in a diverse and inclusive culture of globally connected teams. Learn more.

Are you ready to shape your future with confidence? Apply today. 

To help create an equitable and inclusive experience during the recruitment process, please inform us as soon as possible about any disability-related adjustments or accommodations you may need.

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