[Hiring] VP of Statutory Reporting @Palomar

Role Description

Palomar Holdings is seeking a VP of Statutory Reporting to provide strategic leadership for our Statutory Reporting function. This executive will oversee all statutory financial reporting activities, drive process improvements, manage regulatory filings, and ensure compliance with NAIC and state insurance regulations.

What will you do:

• Leadership & Team Development:
  • Provide strategic leadership, mentorship, and oversight for the Statutory Reporting function.
  • Foster a culture of accountability, collaboration, and continuous improvement.
  • Recruit, develop, and retain a high-performing team.
  • Establish scalable processes to support organizational growth.
• Financial Reporting & Controls:
  • Lead the statutory close and reporting processes.
  • Ensure timely and accurate preparation of monthly, quarterly, and annual financial results.
  • Maintain a strong internal control environment.
  • Drive process optimization initiatives to enhance reporting efficiency, scalability, and compliance.
• Statutory Reporting & Regulatory Compliance:
  • Oversee the preparation, review, and submission of all statutory reporting requirements, including:
    • NAIC and state regulatory Quarterly and Annual Statements
    • Supplemental regulatory filings and schedules
    • Audited statutory-basis financial statements
    • Group Capital Calculation filings, AM Best Supplemental Rating Questionnaires, and other required regulatory submissions
  • Ensure compliance with statutory accounting principles (SAP), NAIC guidance, and state insurance regulations.
• Cross-Functional Partnership:
  • Serve as a key finance partner to various teams to ensure accuracy and completeness of statutory reporting.
  • Collaborate with senior leadership to evaluate statutory implications of business initiatives.
• Technical Accounting & Regulatory Change Management:
  • Provide subject matter expertise on Statutory Accounting Principles (SSAP) and evolving regulatory requirements.
  • Monitor industry developments and regulatory changes.
  • Develop and maintain accounting policies, reporting procedures, and governance frameworks.
• Capital Management & Risk Oversight:
  • Lead preparation and analysis of Risk-Based Capital (RBC) calculations.
  • Deliver insights and recommendations regarding capital adequacy and regulatory trends.
• External Audits & Regulatory Relations:
  • Serve as the primary liaison with external auditors and regulatory agencies.
  • Lead responses to regulatory inquiries and audits.
  • Build and maintain relationships with regulatory bodies and external partners.

Qualifications

• Strong understanding of GAAP and SAP.
• Expertise in accounting and regulatory matters.
• Effective communication skills.
• Proficiency in complex statutory accounting and capital requirements.
• A team-oriented leader who mentors and leads by example.

Requirements

• Bachelor’s degree in accounting (minimum requirement).
• 10+ years of progressive experience in NAIC insurance filings.
• 5+ years of supervisory experience in a similar role.
• Strong analytical skills and attention to detail.
• Ability and desire to be a problem-solver.
• Proficiency in MS Office (Excel, Word, PowerPoint).

Benefits

• Full Suite of Medical Benefits
• Long Term Financial Incentives – STOCK!
• 401k with 3.5% Automatic Fully Vested Employer Contributions
• Competitive PTO + Holiday Program
• Lifestyle Spending Allowance
• Professional Development Assistance
• Career Exploration Opportunities
• Regular company-wide social events (even virtually!)