FINANCIAL EXAMINER SPECIALIST

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.