Financial Analyst I

Hanover Insurance Group

Full-time - Entry Level

Insurance Carriers and Related Activities

About the position

The Financial Analyst I position at The Hanover involves developing, interpreting, and implementing complex financial and accounting concepts for financial planning and control. This role is essential for analyzing financial information, preparing recommendations, and supporting management in decision-making processes related to financial performance and strategy.

Responsibilities

• Conduct special studies to analyze complex financial actions and prepare recommendations for policy, procedure, control, or action.
• Provide interpretation of financial policies, governmental legislation, accounting theory, or customer financial regulations.
• Analyze financial information to determine present and future financial performance.
• Identify trends and recommend improvements accordingly.
• Evaluate complex profit plans, operating records, and financial statements.
• Direct preparation of studies, reports, and analyses in areas such as budgets, forecasts, financial plans, governmental requirements, statistical reports, cash flow projections, and business forecasts.
• Interpret and apply corporate financial policies, government legislation, and accounting theory.
• Establish databases of pertinent information for use in analyzing future plans and forecasts.
• Make recommendations to management regarding cost saving or profit generating opportunities and profitability improvement strategies.
• Coordinate 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.
• Research and prepare economic reports on subjects such as rate of return, depreciation, working capital requirements, investment opportunities, investment performance, and impact of governmental requirements.
• Assist the organization's controller in the development of the budget, planning, and other corporate financial requirements.

Requirements

• Typically has 0-2 years related experience.
• Bachelor's degree or equivalent.
• Broad knowledge of principles, practices, and procedures of financial analysis.

Benefits

• 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)