Position Summary
The Insurance Examiner II evaluates the financial stability, regulatory compliance, and operational integrity of insurance companies. This role involves conducting audits, analyzing financial records, and ensuring that insurers adhere to pre-determined state and federal regulations. The Insurance Examiner II plays a vital role in protecting policyholders and maintaining public confidence in the insurance industry by identifying risks and recommending corrective actions.
This position requires on-site employment with no remote or hybrid options available.
Job Responsibilities and Expected Results
Key Business Processes/ Duties
Examines assets, liabilities, income, and expense items contained in insurance entities financial statements.
Performs financial insurance examinations or analysis based on the procedures and policies in accordance with NAIC Financial Condition Examiners Handbook and Financial Analysis Handbook in order to maintain national accreditation.
Communicates with officers of insurance entities concerning company operations and questions/raised during the examination or analysis process.
Gather data and research technical information for reports and present to appropriate authorities.
Assist in training entry level examiners.
Reviews and analyze new, proposed, or revised laws, regulations, policies, and procedures in order to promote healthy insurance market and financial soundness of insurance providers.
Performs other duties as assigned.
Position Information
Job Series: Financial – Insurance Financial Examiners
Classification: Insurance Examiner II
Class Code: FIF04P
Pay Grade: SPC03
Salary Range: $71,027 – $105,120
Job Summary
The Insurance Examiner II evaluates the financial stability, regulatory compliance, and operational integrity of insurance companies. This role involves conducting audits, analyzing financial records, and ensuring that insurers adhere to pre-determined state and federal regulations. The Insurance Examiner II plays a vital role in protecting policyholders and maintaining public confidence in the insurance industry by identifying risks and recommending corrective actions.
Primary Responsibilities
Perform on-site and off-site examinations of insurance companies to assess their financial condition and regulatory compliance.
Analyze financial statements, reserves, claims practices, and underwriting procedures to identify abnormalities, irregularities, or risks.
Review company operations to ensure adherence to legal and regulatory requirements.
Evaluate the adequacy of reserves and reinsurance programs to protect policyholder interests.
Prepare comprehensive examination reports, summarizing findings and recommendations for corrective actions.
Collaborate with insurance company managerial personnel to address identified issues and monitor progress on corrective measures.
Stay informed about changes in insurance laws, regulations, and industry trends.
Participate in training programs to stay updated on examination best practices and methodologies.
Knowledge and Skills
Strong analytical and problem-solving skills.
Knowledge of insurance laws, regulations, and financial principles.
Excellent communication and report-writing skills for presenting findings and recommendations.
Attention to detail and the ability to interpret complex financial data.
Proficiency in software tools for financial analysis and reporting.
Willingness to travel for on-site examinations.
Minimum Qualifications
A bachelor’s degree in accounting, finance, business administration, economics, or a related field.
Minimum of 6 years of experience in accounting, auditing, or financial analysis, such as reviewing financial records or analyzing budgets.
Specialized experience in insurance operations, regulatory compliance, or financial examinations.
Professional certifications such as Certified Public Accountant (CPA), Accredited Insurance Examiner (AIE), or Certified Financial Examiner (CFE) may substitute for some experience requirements.
Licensure/Certifications
N/A
OTHER JOB RELATED EDUCATION AND/OR EXPERIENCE MAY BE SUBSTITUTED FOR ALL OR PART OF THESE BASIC REQUIREMENTS, EXCEPT FOR CERTIFICATION OR LICENSURE REQUIREMENTS, UPON APPROVAL OF THE QUALIFICATIONS REVIEW COMMITTEE.
