Insurance Examiner (Examination And Market Conduct) #260824-4998AR-001

About the Role

The Insurance Examiner (Examination And Market Conduct) will work within the Financial Regulation Division, and will be assigned to one of the field financial exams of an insurance entity that is underway, as part of the exam team. The successful incumbent will report directly to the Examiner-in-Charge of the exam assigned to. Once an exam ends, you will be assigned to another exam. The Insurance Examiner (Examination And Market Conduct) will assist on a "key activity" with a more experienced Examiner. This includes examining items such as investments, premiums, claims, etc. There will be both formal training and on-the-job training.

Responsibilities

• Participates in examinations of insurance companies' records
• Traces each item of a financial statement to original sources
• Verifies and computes liabilities
• Verifies cash and bank balances
• Verifies annual statements and reports submitted to the Insurance Commissioner
• Verifies proper market conduct including rates charged and claims paid
• Prepares or assists in preparing examination reports
• May conduct office audits of annual statements of licensed insurance companies and complaint registers
• May assist in the preparation of hearing materials
• Performs related duties as required

Qualifications

General Experience: Six (6) years of experience in one or more of the following areas: governmental examination of financial condition or market conduct of insurance companies, accounting, auditing or actuarial work.

Special Experience: Two (2) years of the General Experience must have been at the paraprofessional level. This experience is interpreted as work requiring the exercise of some independent judgment in the application of basic principles and practices of governmental examination of financial condition or market conduct of insurance companies, accounting, auditing or actuarial work.

Substitutions Allowed

• Successful completion of an Accounting Careers Trainee program approved by the Department of Administrative Services may be substituted for the General Experience and Special Experience.
• College training with courses in accounting may be substituted for the General Experience on the basis of fifteen (15) semester hours equalling one-half (1/2) year of experience to a maximum of four (4) years for a Bachelor's degree.
• A Master's degree in accounting, insurance, business or economics may be substituted for one (1) additional year of the General Experience.
• Certification in any of the following may be substituted for one (1) additional year of the General Experience: Certified Public Accountant, Certified Internal Auditor.

Preferred Qualifications

• Experience identifying an organization's key risks and assessing the effectiveness of its internal control environment.
• Experience in reviewing and analyzing financial statements to verify the accuracy and completeness of an organization's financial records.
• Experience identifying and documenting audit or examination issues and communicating those findings to the organization being audited or examined.
• Experience communicating with stakeholders, both in writing and verbally.

Knowledge, Skill and Ability

• Knowledge of accounting and auditing principles and practices; the organization, terminology and business practices of insurance companies; life actuarial reserves
• Knowledge of and ability to interpret and apply insurance statutes, regulations and bulletins and the Uniform Administrative Procedures Act
• Oral and written communication skills; interpersonal skills
• Ability to analyze and evaluate insurance company financial records and statements; calculate complex mathematical formulas; utilize computer software

Schedule

• Monday - Friday, 8:00 AM to 4:30 PM
• Full Time, 40 hours per week
• Hybrid (combination of in-office/telework)
• Location: 280 Trumbull Street in Downtown Hartford, Connecticut

Special Requirements

• Incumbents in this class may be required to travel.
• Incumbents in this class may be required to possess and retain a valid Motor Vehicle Operator's license.