Tax Accounting Specialist

SUMMARY:

CAMICO's Premium Tax Accounting Specialist is responsible for tax filings (premium, muni, & corporate) and payments, regulatory filings, and miscellaneous filings, for all licensed states. This position also includes maintaining custody reporting and general accounting functions of the Finance department and additional new responsibilities may be assigned. ESSENTIAL DUTIES AND RESPONSIBILITIES

include the following. Other duties may be assigned.

• Prepare premium tax payments and filings for all 50 states that CAMICO is licensed to write business, including hard copyfiling and e-filing
• Prepare municipal tax for six states including quarterly and annual filings
• Update filing instructions on changes and new requirements to ensure the company is in compliance
• Maintain tax filing calendars to ensure all deadlines are met
• Maintain all filing documents, such as forms, mail and proof of payments to avoid penalty
• Set up e-payment option as required, maintain e-filing and e-payment procedures by the state
• Coordinate with external tax consultants to ensure extensions, federal tax returns, and state corporate returns are filed on time, payments and refunds are accurate for both companies
• Attend annual tax software update webinars to keep current with enhancements

• Prepare statutory filings for 50 states' regulatory departments and various insurance rating bureaus, including reports, forms, fees, and assessment
• Research websites by state to obtain the most current information in addition to MPFP software
• Maintain statutory filing calendar to ensure all changes are updated, all mailings are logged, and all deadlines are met
• Maintain all filing documents, including forms, mail and proof of payments to avoid penalty
• Update permanent notes by state as required

• Organize documents and bank statements by the state, retrieved monthly online and follow up on missing statements
• Update and maintain pledged security asset spreadsheet as required
• Follow up on interest receivable and communicate with custodian banks' contact person
• Track interest income received from state deposits and notified investment accounting service on a monthly basis
• Coordinate with the Regulatory Department on new requirements and investment advisor on replacing maturing securities held by the state agencies

• Review system reports on state premium, fees surcharge and local tax surcharge to ensure accuracy
• Identify and report any discrepancies between reports and general ledger

• Prepare tax accrual account by state annually & prepare journal entries for the true up
• Reconcile general ledger accounts including tax accrual, prepayment, fees, assessment pass through accounts, premium and insurance guarantee fund accounts
• Reconcile tax, fees, assessment expense, and assessment pass through accounts, by state
• Prepare monthly DWP State Page for unearned premium and premium tax accrual & create journal entry (JE 29)
• Update worksheet for current year and prepare Muni Accrual (JE 30) monthly
• Prepare monthly journal entry (JE 61) for all the payments made
• Save assigned monthly journals and supporting documents on the Finance drive in electronic format
• Complete other account reconciliations as required and provide assigned external audit requests in a timely manner
• Prepare monthly reconciliation of monthly general ledger interface for Claims with system reports
• Assist Financial Analyst II with quarter-end reserve process by downloading data for Earned Premium Accruals, Reinsurance Report, Policy Data Extract, Claims payments and reserves detail.
• Download CMI Sweep account transaction to send to investment accounting provider to record the monthly transactions
• Send quarterly & annual statements to internal & external users and bind the annual statement for distribution

• Login to Concur to move current charges to current month
• Follow up credit card users for the support for each expense if not provided
• Check the GL code for the expenses charged
• Create the final report at the end of each month from Concur and save in Finance shared drive

This position has no supervisory responsibilities.

Two (2) + years of accounting and/or financial analysis

Bachelor's degree: majoring in Accounting, Finance or other quantitative discipline preferred

Proficiency in MS Excel including advanced functions such as pivot tables, look-ups…