Senior Financial Analyst - Insurance Company Examiner II

Title: Senior Financial Analyst - Insurance Company Examiner II

Locations Wake County, NC

Full time

Job requisition id JR-120224

Agency Dept of Insurance

Division Company Services Group

Job Classification Title Insurance Company Examiner II (NS)

Position Number 60013359

Grade NC17

About Us

The mission of the North Carolina Department of Insurance is to promote a stable insurance market through unbiased regulation and to protect the lives and property of every citizen in all 100 counties while fostering superior, user-friendly service, courtesy, and respect. Our agency licenses insurance agents, adjusters, bail bondsmen and more, along with investigating fraud matters involving insurance consumers and any entity or individual regulated by the Department. In an ever-changing environment, it is the vision of the Department of Insurance to maintain the stabilization of the insurance industry in order to provide more products, competitive prices and consumer protection.

Description of Work

Insurance Company Examiner - 60013359
Salary Recruitment Range: $60,881 – $83,000
Salary Grade: NC 17

The posting will close at 11:59 p.m. the night before the closing date.

This position currently qualifies for a hybrid telework option with routine office and up to one remote workday per week. The NC Department of Insurance trusts our employees to be self-motivated and successful in hybrid/remote roles. Telework options are subject to change at the discretion of management.

This is a key position working in the Financial Analysis Division. The Financial Analysis Division is primarily responsible for the continuous monitoring, through financial analysis, of all insurers authorized to transact business in North Carolina. Upon the identification of issues, the Division is responsible for taking timely and appropriate action to protect the interests of North Carolina insurance consumers.

The primary purpose of this position is to conduct financial reviews of insurance companies domiciled and/or licensed in the State of North Carolina. The position will determine if insurers are maintaining compliance with applicable laws, regulations, procedures, and statutory accounting practices required by this State. The position will have the opportunity to interact with people at all levels within the insurance companies as well as within this Department. The work is guided by State laws and regulations, Departmental policies and procedures, and guidance provided by the National Association of Insurance Commissioners.

The position has technical supervision of two employees. The position will be responsible for coordinating the work of other analysts, including directing and training staff, conducting second level reviews of analyses, evaluating courses of action recommended by staff, and reporting on current activities each month. This position also renders an opinion on the financial health of each assigned company; recommends any appropriate corrective actions; and evaluates company proposals such as changes of control, mergers, re-domestications, business plans, reinsurance transactions, and other material changes in operations, which require the approval of the Commissioner.

Duties include the supervising and conducting financial analysis work in order to monitor the operations and financial condition of proposed and authorized regulated entities for compliance with the solvency laws of North Carolina. Work involves independently analyzing and conducting supervisory reviews of financial statements, mergers, acquisitions, independent auditor reports, actuarial reports, business plans, operations, and other proposed transactions. Employee interacts with Department management and all levels of staff of regulated entities. The position documents findings and makes recommendations on necessary and appropriate actions based on pre-established guidelines and State law.

Knowledge Skills and Abilities/Management Preferences

• Demonstrated experience conducting and/or supervising financial analysis and financial risk assessment, financial statement audits, financial statement preparation, or closely related accounting work, including the ability to identify areas of concern and document facts, findings, conclusions and recommendations.
• Considerable knowledge of the insurance industry; generally accepted accounting principles; statutory accounting principles; financial analysis procedures and guidelines; and State laws and regulations.
• Ability to apply knowledge independently, as well as to provide guidance and direction to others, serving as a technical resource.
• Ability to manage time effectively, ensuring projects are completed in a timely manner, and effectively oversee work performed by others.
• Excellent decision-making skills, including the ability to be decisive in formulating and executing those skills, and excellent communication skills, both verbal and written.

Minimum Education and Experience

Some state job postings say you can qualify by an “equivalent combination of education and experience.” If that language appears below, then you may qualify through EITHER years of education OR years of directly related experience, OR a combination of both. See the Education and Experience Equivalency Guide for details.

Bachelor's degree from an appropriately accredited college or university, with the appropriate courses in accounting as defined in 21 NCAC 8A.0309 and other courses required to qualify as a candidate for the uniform certified public accountant examination, based on the examination requirements in effect at the time of graduation and two years of experience in auditing insurance company operations or closely related accounting or auditing work; or an equivalent combination of training and experience.

Benefits of NC State Employment:

We value our employees and offer a wide variety of competitive and family-friendly benefits. Benefits include:

• 12 Annual paid Holidays
• North Carolina State Health Plan administered by AETNA 
• Supplemental Benefits including: Flexible Spending Accounts, Accident Insurance, Cancer & Specified Disease, Critical Illness, Dental and Vision
• NC State Retirement (TSERS)
• WeSave Employee Discounts

Learn more about employee perks/benefits:

• Why Work For NC?
• NC OSHR: Benefits

Supplemental and Contact Information:

For consideration for this vacancy, all applicants must complete an online application using the “APPLY” button above.

 
To receive credit for your work history and credentials, you must list the information on the State Application. Any information omitted from your application cannot be considered for qualifying credit.
***Applications with "see attached" or resumes in lieu of completed education and work experience on the formal application will be deemed incomplete and will not be eligible for consideration for the vacancy***

Applications for positions requiring specific coursework must be accompanied by a copy of the applicant's transcript. 
The Department of Insurance/Industrial Commission may conduct criminal history checks of all job applicants recommended for employment. Failure to accurately acknowledge information on criminal convictions on the state application form will be grounds for non-consideration of applications, disciplinary action, and possible criminal prosecution.
  
The Department of Insurance/Industrial Commission is an Equal Employment Opportunity employer and uses the merit-based recruitment and selection plan to fill positions subject to the State Personnel Act with the most qualified individuals.

• Academic Degrees must be from appropriately accredited institutions and will be verified. If you are selected for a position at DOI/IC, your academic credentials will be verified.
• Applicants requesting and receiving an accommodation under the Americans with Disabilities Act (ADA) are eligible to submit paper applications via mail or by fax.
• Applicants seeking Veteran's Preference under N.C.G.S .126 must submit a DD Form 214, Certificate of Release or Discharge from Active Duty. This information may be attached to the online application or be faxed on or before the closing date.

Applicants may check the status of their application for a vacancy at any time by logging in to the government jobs system. Once the applicant has logged in, the status of each submitted application is documented next to each vacancy for which they have applied.

EEO Statement

The State of North Carolina is an Equal Employment Opportunity Employer and dedicated to providing employees with a work environment free from all forms of unlawful employment discrimination, harassment, or retaliation. The state provides reasonable accommodation to employees and applicants with disabilities; known limitations related to pregnancy, childbirth, or related medical conditions; and for religious beliefs, observances, and practices.

Recruiter:

Jennifer C Huber

Recruiter Email:

JENNIFER.HUBER@NCDOI.GOV