INSURANCE SENIOR EXAMINER
Little Rock, AR, US, 72202
Position Summary
The Financial Examiner Specialist is responsible for assisting in complex examination processes to ensure compliance with laws and regulations governing financial and securities institutions. This position is governed by the Arkansas Insurance Code, the guidelines of the National Association of Insurance Commissioners, state and federal law, and agency/institution policy.
Education and Professional Work Experience
Minimum Qualifications
The formal education equivalent of a bachelor’s degree in accounting, finance, or a related field; plus, three years of experience in financial examination or related area.
Knowledge, Skills, and Abilities
- Knowledge of the principles of regulatory accounting procedures.
- Knowledge of manual and automated accounting systems and procedures.
- Knowledge of Generally Accepted Accounting Practices and Principles (GAAP).
- Knowledge of financial examination procedures.
- Ability to interpret and apply rules, laws, and policies to specific situations. Ability to interpret and analyze automated accounting transactions.
- Ability to communicate orally and in writing.
- Ability to use standard office equipment and computer software programs to produce reports and correspondence.
Job Responsibilities and Expected Results
- Investigates and examines activities of institutions to enforce laws and regulations and ensure legality of transactions and operations or financial solvency.
- Reviews and analyzes new, proposed, or revised laws, regulations, policies, and procedures in order to secure correct interpretation and intent of language and subsequent impact on examination processes.
- Examines the minutes of meetings of various business entities in order to investigate specific authority extended at various levels of management.
- Prepares reports, exhibits, and other supporting schedules detailing an institution’s safety and soundness, compliance with laws and regulations, and recommends solutions to questionable financial conditions.
- Reviews balance sheets, operating income, expense accounts, and loan documentation to confirm institutional assets and liabilities.
- Reviews audit reports of internal and external auditors to monitor adequacy of scope of reports or to discover specific weaknesses in internal routines.
- Performs other duties as assigned.
Position Information
Class Code: A042C
Grade: GS09
FLSA Status: EXEMPT
Salary Range: $50,222.00 - $80,105.00
Summary
The Insurance Senior Examienr is responsible for planning and performing complex financial insurance examinations, examining company financial statements, and analyzing and evaluating company financial data and records. This position is governed by state and federal laws and agency policy.
Functions
Examines assets, liabilities, income, and expense items contained in insurance entities financial statements. Reviews and analyzes new, proposed, or revised laws, regulations, policies, and procedures in order to ensure compliance with laws and regulations. Performs financial insurance examinations based on the procedures and policy in accordance with NAIC Financial Condition Examiners Handbook. Communicates with officers of insurance entities concerning company operations and questions/raised during the examination process. Drafts and revises procedures for the finance division as needed to maintain accreditation. Assists in training entry level examiners. Peforms other duties as assigned.
Dimensions
Knowledge, Skills and Abilities
Knowledge of Arkansas insurance laws, regulations, and bulletins. Knowledge of organizational and management structure of insurance companies. Knowledge of National Associations of Insurance Commissioners (NAIC) guidelines. Knowledge of Generally Accepted Accounting Practices and Principles (GAAP). Knowledge of financial examination procedures. Ability to interpret and apply rules, laws, and policies to specific situations. Ability to interpret and analyze automated accounting transactions. Ability to communicate orally and in writing. Ability to use standard office equipment and computer software programs to produce reports and correspondence. Ability to assign and coordinate work activities and monitor the performance of co-workers.
Minimum Qualifications
The formal education of a bachelor's degree in accounting, finance, business administration, or a related field; plus four years of experience in finanical management, insurance company accounting, auditing, or related area. Additional requirements determined by the agency for recruiting purposes require review and approval by the Office of Personnel Management. 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. Z
Licenses
Nearest Major Market: Little Rock
