Intern - Regulatory, Research & Compliance

Frankenmuth Insurance Company•Frankenmuth, MI

2d•Onsite

About The Position

Frankenmuth Insurance is seeking a motivated individual to join our Regulatory, Research & Compliance team in our Financial Planning, Analysis & Systems department for a part-time year-round internship opportunity, 20-25 hours per week. This is an in office position. As an intern at Frankenmuth Insurance, you will have a chance to gain hands on experience assisting the Regulatory, Research & Compliance team on a variety of projects. Primarily you will have the opportunity to assist with ensuring compliance with state and federal regulations through involuntary assessments, state filings, and other regulatory reporting requirements. You will support research initiatives to keep the company updated on relevant regulatory changes and help prepare required documentation for timely state filings. This role will involve collaborating with cross-functional teams, to address compliance needs and support the company’s commitment to maintaining accurate, transparent, and compliant business practices. May perform in one or more of the following Accounting functions such as Regulatory Research and Compliance, Financial Reporting, Investments, Reinsurance, and Accounts Payable & Receivable; responsibilities may include month-end and statutory accounting support. Under direct supervision and following standard procedures, compute, classify, record, and verify numerical data for use in maintaining accounting records by performing the following duties.

Requirements

Students should be currently enrolled and entering their sophomore-senior year in college
Ability to organize data, manage multiple tasks and make decisions independently
Able to communicate effectively
Ability to work legally in the United States

Nice To Haves

Preferred major is Accounting

Responsibilities

Prepare, compile, and sort documents and data substantiating business transactions, such as invoices, cash, checks, account statements, cost reports, revenue and balance sheets.
Verify, code, and post details of business transactions, such as funds received and disbursed; total accounts to ledgers or computer spreadsheets and databases; audit invoices against purchase orders, research discrepancies, approve for payment.
Assist in developing month-end and annual accounting cycles.
Reconcile bank statements and general ledger accounts with various registers; report/reconcile any discrepancies and problems.
Monitor accounts payable and receivable to ensure that payments are up-to-date.
Review, balance, and interpret computer reports, and make necessary corrections.
Promptly assist employees, vendors, clients, or customers by answering questions related to accounts, procedures, and services.
Perform other duties as assigned.
Assist with ensuring compliance with state and federal regulations through involuntary assessments, state filings, and other regulatory reporting requirements.
Support research initiatives to keep the company updated on relevant regulatory changes.
Help prepare required documentation for timely state filings.
Collaborate with cross-functional teams to address compliance needs.
Support the company’s commitment to maintaining accurate, transparent, and compliant business practices.