[Remote] Regulatory Accounting Manager at Sidecar Health

Remote

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Health Insurance, HealthcareIndustries

Requirements

Bachelor's degree in Accounting, Finance, or related field required
CPA certification required (active and in good standing)
8+ years of progressive accounting experience in a regulated insurance entity
5+ years of hands-on experience with statutory accounting principles and NAIC reporting

Responsibilities

Prepare statutory basis financial statements and related regulatory filings in accordance with NAIC Statutory Accounting Principles (SAP) and state insurance department requirements
Ensure compliance with state-specific prescribed and permitted accounting practices
Maintain detailed understanding of both GAAP and STAT accounting frameworks and reconcile differences between the two
Monitor and implement changes to NAIC Accounting Practices & Procedures Manual and relevant SSAPs and assess impact on accounting treatments and reporting requirements
Oversee preparation and submission of Medical Loss Ratio (MLR) filings and rebate calculations in compliance with ACA requirements
Manage Risk-Based Capital (RBC) calculations and regulatory capital adequacy reporting
Coordinate and respond to external audit requests, including state insurance department audits, examinations, inquiries, and information requests
Aid in the preparation and filing of supplemental regulatory reports including management discussion and analysis
Maintain current knowledge of multi-state insurance regulatory requirements
Coordinate the preparation of federal and state income tax returns with external tax advisors for all regulated entities
Manage quarterly tax provision calculations and ensure proper documentation
Support tax audits and respond to information requests from taxing authorities
Monitor tax law changes affecting insurance entities and assess financial impact
Maintain and enhance internal controls over financial reporting (ICFR) for regulatory accounting processes
Support SOC 1 and SOC 2 compliance activities, including control documentation and testing
Coordinate with Internal Audit on control assessments and remediation activities
Mentor and develop accounting staff on statutory accounting principles and regulatory requirements, where appropriate
Partner with cross-functional teams to support business development initiatives
Foster a culture of accountability, continuous improvement, and regulatory excellence
Participate in recruiting and onboarding of finance team members

Skills

Key technologies and capabilities for this role

NAIC SAPStatutory AccountingGAAP ReconciliationRegulatory FilingsMLR CalculationsACA ComplianceSSAPInsurance ReportingState Regulations

Questions & Answers

Common questions about this position

What are the key responsibilities of the Regulatory Accounting Manager?

The role involves managing statutory accounting, regulatory reporting, and compliance, including preparing financial statements per NAIC SAP, overseeing MLR filings and RBC calculations, coordinating tax returns, and maintaining internal controls.

What expertise is required in accounting frameworks for this position?

Candidates need a detailed understanding of both GAAP and STAT accounting frameworks, with the ability to reconcile differences between them.

Who does the Regulatory Accounting Manager report to?

The position reports to the Director, Financial Accounting and Reporting.

Is this role remote or office-based?

This information is not specified in the job description.

What is the salary or compensation for this position?

This information is not specified in the job description.

Sidecar Health

Affordable health insurance with price transparency

About Sidecar Health

Sidecar Health provides health insurance plans that focus on affordability and transparency, including options compliant with the Affordable Care Act (ACA). The company allows members to see average cash prices for medical services upfront, helping them make informed decisions and avoid unexpected costs. Revenue is generated through member premiums, which cover medical expenses, while also benefiting from the difference between negotiated cash prices and premiums. Sidecar Health's goal is to empower members to take control of their healthcare expenses with straightforward and cost-effective insurance options.

El Segundo, CaliforniaHeadquarters

2018Year Founded

$319.1MTotal Funding

SERIES_DCompany Stage

Financial Services, HealthcareIndustries

201-500Employees

Benefits

Health Insurance

Dental Insurance

Vision Insurance

401(k) Retirement Plan

Paid Vacation

Paid Holidays

Stock Options

Company Equity

Risks

Increased competition from similar insurtech companies may erode market share.

Regulatory scrutiny on cash pay models could pose compliance challenges.

Economic downturns might reduce consumer spending on health insurance premiums.

Differentiation

Sidecar Health offers transparent pricing, empowering members with upfront healthcare cost information.

The company provides customizable plans, aligning with individual coverage needs and budgets.

Partnerships with institutions like Ohio State University enhance their fixed-price care model.

Upsides

Recent $165M Series D funding supports expansion and innovation in health insurance.

Partnership with Mark Cuban Cost Plus Drug Company lowers prescription drug costs for members.

ACA-compliant product line expansion increases market reach and consumer options.

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