Financial Analyst - Insurance Carrier Contingency

We’re Insurance Office of America, one of the nation’s largest privately held agencies. IOA was founded in 1988 with the idea that professional client service provided by knowledgeable, caring, and passionate people makes for a winning combination. Whether working at our home office in suburban Orlando, Florida, one of our branch offices across the US and Northern Ireland, or with one of our subsidiary companies, the continued growth of our over 1,300 team members is a testament to our belief that great things start with great people!
At IOA, we’re driven by our mission and core values. We work hard, but we have fun too. Workplace ideals like leading by serving, work/family life balance, and giving back to our community aren’t just clichés here – they’re a part of who we are. We believe in helping people grow, develop and achieve their professional goals, so when you join the IOA team you truly become a partner in our shared success.

Job SummaryThe Financial Analyst will be responsible for all financial activity related to agency profit sharing/contingencies/bonuses, including but not limited to receipt of payments, validating against contract terms and actual performance, and evaluate and model new agreements. As well as assisting the FP&A team in scheduled deliverables and exercising discretion and independent judgement regarding the day-to-day general finance and accounting functions of Insurance Office of America.

Key Responsibilities

• Collect, maintain, and interpret all agency profit sharing, bonus, and contingency agreements for payment structure and calculation. Evaluate and model new agreements and amendments against prior versions, acting as an advisor to senior leadership.
• Coordinate with internal data team to monitor production and other metrics and leverage key partnerships to identify current and future trends at the carrier and contract/code/line of business level.
• Utilize internal production and other metrics to generate current year reporting, dashboards, accruals, forecasting, and use for inputs into annual budget process.
• Coordinate with internal departments on all aspects of the profit sharing process and recommend efficiencies (Carrier Management, Carrier Administration, Legal, Accounting/Finance, Sales, Leadership, etc.).
• Analyze mid-year lock-in options and facilitate the entire process.
• Confirm accuracy of payments received in line with contract terms and actual performance metrics (growth, loss ratio, retention, new business, eligible written premium, etc.).
• Collaborate with internal stakeholders and external carrier partners during periodic/quarterly check-ins.
• Provide support and assistance to the FP&A team throughout the monthly close process (variance analysis, variance commentary, business reviews, etc.), annual budget process, and periodic forecasts.
• Ability to summarize large amounts of data into meaningful financial models to support business decisions.
• Complete ad hoc financial analysis and other requests as needed to support the business.

Required Competencies, Skills & Experience

• BS Finance or Accounting, MBA preferred.
• Several years of insurance industry experience strongly preferred, with a large national agency and/or carrier.
• Advanced knowledge of Microsoft Excel.
• Some experience with Power BI.

Job Type: Full-time

Pay: $80,000.00 - $100,000.00 per year

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Health insurance
• Life insurance
• Paid time off
• Referral program
• Retirement plan
• Vision insurance

Schedule:

• 8 hour shift
• Monday to Friday

Education:

• Bachelor's (Required)

Experience:

• Financial or Accounting: 3 years (Required)
• Carrier Contingency: 2 years (Preferred)
• Property & Casualty Industry: 1 year (Preferred)

Work Location: Remote