Statutory Reporting Specialist (NAIC Compliance – U.S. Health Insurance)

Early Career
Written By Kabilesh G

Job Description

As part of our delivery team supporting a top-tier U.S. health-insurance organization, you will serve as the Statutory Reporting & NAIC Compliance Specialist. You will execute end-to-end statutory financial reporting and regulatory submissions (including NAIC Annual & Quarterly Statements, Risk-Based Capital (RBC) filings, state insurance department schedules, holding company/affiliate disclosures) for one or more of the client’s U.S. health-insurance entities. You are required to  prepare exhibits and schedules to assist in fully compliant statutory filings, and to build process scalability, standardization and continuous improvement within the outsourced delivery framework.

Key Responsibilities

  • Prepare, review and deliver quarterly and annual statutory financial statements using the NAIC Health Annual Statement blank and related state attachments for the client’s health-insurance entities.

  • Compile, reconcile and submit state-insurance-department exhibits and schedules (investments, affiliation/holding company, intercompany, IBNR/reserves, etc.).

  • Liaise with the client’s actuarial, external audit, internal audit and corporate compliance teams to ensure assumptions, reserves, disclosures, and policy-changes are appropriately reflected in the statutory submission.

  • Maintain expertise and monitor changes in NAIC model laws/regulations (e.g., ORSA, Holding Company Model, Data Security Model Law), state insurance regulation, and statutory accounting principles (SAP) impacting health insurers.

  • Develop and maintain working-papers, reconciliations (SAP to GAAP/US-GAAP if applicable), and audit-ready documentation within the outsourcing engagement framework.

  • Drive continuous improvement: template standardization, automation of schedules, metrics tracking, outsourcing-delivery efficiencies, SLA adherence and quality control.

  • Serve as the primary escalation point within the outsourcing team for statutory/NAIC-related inquiries and assist in client/regulator inquiries or clarifications.

  • Provide training, mentoring and oversight of junior resources in the outsourcing delivery centre dedicated to these statutory/NAIC processes.

  • Working knowledge of SSAP’s

  • Participate in project work supporting new product lines, entity domiciles, acquisition/integration of licensed insurance entities, helping align statutory reporting design.

  • Ensure delivery under outsourcing service KPIs (timeliness, accuracy, cost-efficiency, client satisfaction) while complying with the client’s internal controls, audit and compliance standards.

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Education

  • Bachelor’s degree in Accounting, Finance, Actuarial Science or related discipline. Master’s or MBA a plus.

  • Minimum 5-8 years of experience in statutory reporting, regulatory accounting or insurance statutory finance; specifically, experience with U.S. health-insurance statutory filings preferred. For a more senior specialization role, 8-12 years.

  • Proven knowledge of: NAIC Health Annual Statement blanks, state insurance department statutory filings, RBC health model, statutory accounting principles (SAP) for U.S. insurers.

  • Experience working with U.S. domiciled health-insurance carriers (commercial, Medicaid, Medicare Advantage) or large managed-care organizations is highly desirable.

  • Strong analytical skills, attention to detail, ability to interpret regulatory requirements and translate into reporting deliverables.

  • Experience working in service delivery model (shared services, captive centre, BPO) preferred, understanding of SLAs, KPIs, delivery centre metrics.

  • Excellent stakeholder management and communication skills (working with client-finance, actuarial, auditors, offshore/onsite teams).

Job Location: Ambattur, Chennai, Tamil Nadu

Kabilesh G
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