Finance Administrator- IT (Hybrid) - Selective Insurance Company of America
Branchville, NJ 07890
About the Job
At Selective, we don't just insure uniquely, we employ uniqueness.
Selective is a midsized U.S. domestic property and casualty insurance company with a history of strong, consistent financial performance for nearly 100 years. Selective's unique position as both a leading insurance group and an employer of choice is recognized in a wide variety of awards and honors, including listing in Forbes Best Midsize Employers in 2024 and certification as a Great Place to Work® in 2024 for the fifth consecutive year.
Employees are empowered and encouraged to Be Uniquely You by being their true, unique selves and contributing their diverse talents, experiences, and perspectives to our shared success. Together, we are a high-performing team working to serve our customers responsibly by helping to mitigate loss, keep them safe, and restore their lives and businesses after an insured loss occurs.
The IT Financial Analyst will assist the IT Financial Specialist in the IT Planning and Management organization with IT forecasting and budgeting activities as they relate to vendor software and maintenance contracts. Ensures the accurate cataloguing of all IT non-labor expense. Develop a good understanding of project variances and the ability to determine the cause of the variance. All job duties and responsibilities must be carried out in compliance with applicable legal and regulatory requirements.
Responsibilities:- Maintain inventory of existing subscription services, software, and hardware schedules, renewal dates, and contract provisions (e.g. tiering, CPI).
- Ensure invoices are received prior to expiration dates. Compares to budget and reconciles differences with cost center owners and vendors. Ensures coding of invoices aligns with project code and business domains.
- Manage alignment of IT expenses for business unit reporting. Works with IT budget owners and project managers to understand variances in project expense and the cause of the variance.
- Work with accounting to develop budget at account level based on rollup of detailed inventory for budget purposes. Modify forecast to reflect changes and update inventory to establish following year budget.
- Develop a good understanding of underlying data and relieves senior levels of detailed involvement. May assist in the preparation of information for journal entries for applicable IT services and cost sharing agreements.
- Work closely with the finance team to ensure accurate financial reporting.
- Develops and manage effective working relationships with IT budget owners.
- Runs reports, develops presentations, and understands the general ledger system.
Knowledge and Requirements
- Bachelor’s degree in Accounting, Finance, Information Technology, or Business Administration is preferred.
- 0-3 years’ work experience as a Budget Analyst, Accountant or equivalent experience is preferred.
- Ability to effectively use the general ledger system, MS Excel, Power Point, and budgeting tools.
- IT Background preferred.
Selective Insurance offers a total rewards package that includes a competitive base salary, incentive plan eligibility at all levels, and a wide array of benefits designed to help you and your family stay healthy, achieve your financial goals, and balance the demands of your work and personal life. These benefits include comprehensive health care plans, retirement savings plan with company match, discounted Employee Stock Purchase Program, tuition assistance and reimbursement programs, and paid time off plans. Additional details about our total rewards package will be provided during the recruiting process.
The actual base salary is based on geographic location, and the range is representative of salaries for this role throughout Selective's footprint. Additional considerations include relevant education, qualifications, experience, skills, performance, and business needs.
Selective is an Equal Employment Opportunity employer. That means we respect and value every individual’s unique opinions, beliefs, abilities, and perspectives. We are committed to promoting a welcoming culture that celebrates diverse talent, individual identity, different points of view and experiences – and empowers employees to contribute new ideas that support our continued and growing success. Building a highly engaged team is one of our core strategic imperatives, which we believe is enhanced by diversity, equity, and inclusion. We expect and encourage all employees and all of our business partners to embrace, practice, and monitor the attitudes, values, and goals of acceptance; address biases; and foster diversity of viewpoints and opinions.