Job Description

Senior Financial Analyst (HYBRID MA) Worcester, MA, USA Req #18732 Tuesday, April 1, 2025

For more than 170 years, The Hanover has been committed to delivering on our promises and being there when it matters the most. We live our values every day, demonstrating we CARE through our values, ESG initiatives and IDE journey.

Our Claims Finance team is currently seeking a Senior Financial Analyst in our Worcester, MA location. Position is eligible for Hybrid work arrangement. This is a full time, exempt role.

POSITION OVERVIEW:

• Develops, interprets, and implements complex financial and accounting concepts, or techniques for financial planning and control, by performing the following duties.
• Assists with the annual budgeting process and provides ongoing forecasting and analysis to support strategic decision-making to ensure that ALAE, ULAE and indemnity spend are appropriately managed.
• Leads the build and monitoring of a claims staffing model to ensure that claim operations are right-sized based upon workload targets, operational improvements, etc.
• Responsible for internal management reporting, budget/plan monitoring, accounting close, and the delivery of timely and accurate financial reporting across the organization.
• Partner with the strategy team and claims leaders to build a portfolio and initiative monitoring process. This will include CBAs and an effective way to monitor short and long-term measures of success across the portfolio.
• Conducts special studies to analyze complex financial actions and prepares recommendations for policy, procedure, control, or action.
• Provides interpretation of financial policies, governmental legislation, accounting theory, or customer financial regulations.
• Analyzes financial information to determine present and future financial performance vs. historical trends, budget and for go-forward planning purposes.
• Identifies trends and recommends improvements accordingly.
• Evaluates complex profit plans, operating records, and financial statements.
• Directs preparation of studies, reports, and analyses in areas such as budgets, forecasts, financial plans, governmental requirements, statistical reports, cash flow projections, and business forecasts.
• Interprets and applies corporate financial policies, government legislation, and accounting theory.
• Establishes databases of pertinent information for use in analyzing future plans and forecasts.
• Makes recommendations to management regarding cost saving or profit generating opportunities and profitability improvement strategies.
• Coordinates with all levels of management to gather, analyze, summarize, and prepare recommendations regarding financial plans, acquisition activity, new business planning, trended future requirements, government requirements, and operating forecasts.
• Researches and prepares economic reports on subjects such as rate of return, depreciation, working capital requirements, investment opportunities, investment performance, and impact of governmental requirements.
• Assists organization's controller in the development of the budget, planning, and other corporate financial requirements.

IN THIS ROLE, YOU WILL:

• Within established guidelines, plans, conducts and may supervise assignments.
• Reviews progress and evaluates results.
• May train less experienced employees in technical complexities of assigned work.
• Recommends changes in procedures.
• Operates with substantial latitude for un-reviewed action or decision.
• Reviews progress with management.
• May be assigned to one or more larger projects and be accountable for reporting on project status.

WHAT YOU NEED TO APPLY:

• Typically has 4-6 years professional experience.
• Bachelor's degree or equivalent experience, preferably in accounting, finance, business analytics, actuarial science or another similar educational path.
• Higher level degree may be desired.

CAREER DEVELOPMENT:

Its not just a job, its a career, and we are here to support you every step of the way. We want you to be successful and fulfilled. Through on-the-job experiences, personalized coaching and our robust learning and development programs, we encourage you at every level to grow and develop.

BENEFITS:

We offer comprehensive benefits to help you be healthy, build financial security, and balance work and home life. At The Hanover, youll enjoy what you do and have the support you need to succeed.

Benefits include:

• Medical, dental, vision, life, and disability insurance
• 401K with a company match
• Tuition reimbursement
• PTO
• Company paid holidays
• Flexible work arrangements
• Cultural Awareness Day in support of IDE
• On-site medical/wellness center (Worcester only)

EEO statement:

The Hanover values diversity in the workplace and among our customers. The company provides equal opportunity for employment and promotion to all qualified employees and applicants on the basis of experience, training, education, and ability to do the available work without regard to race, religion, color, age, sex/gender, sexual orientation, national origin, gender identity, disability, marital status, veteran status, genetic information, ancestry or any other status protected by law.

Furthermore, The Hanover Insurance Group is committed to providing an equal opportunity workplace that is free of discrimination and harassment based on national origin, race, color, religion, gender, ancestry, age, sexual orientation, gender identity, disability, marital status, veteran status, genetic information or any other status protected by law.

As an equal opportunity employer, Hanover does not discriminate against qualified individuals with disabilities. Individuals with disabilities who wish to request a reasonable accommodation to participate in the job application or interview process, or to perform essential job functions, should contact us at: HRServices@hanover.com and include the link of the job posting in which you are interested.

Privacy Policy:

To view our privacy policy and online privacy statement, click here .

Applicants who are California residents: To see the types of information we may collect from applicants and employees and how we use it, please click here .

Other details:

• Pay Type Salary
• Required Education Bachelors Degree

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