Examiner Financial Analyst

Description

Idaho Department of Insurance Opportunity

Applications will be accepted through 4:59 PM MST on the posting end date.

The Idaho Department of Insurance (DOI) is seeking to fill a full-time, exempt Examiner Financial Analyst (EFA) to join its team of professionals

We are looking for an individual who understands the insurance industry, financial analysis, and a passion for consumer protection. As part of the Company Activities Bureau, this position protects Idaho policyholders by performing professional analysis work to ensure that insurance companies and other regulated entities remain solvent and comply with Idaho insurance laws, rules, procedures, guidance, administrative directives, and requirements of the National Association of Insurance Commissioners (NAIC). Examiner Financial Analysts are required to earn the regulatory designations from the Society of Financial Examiners (SOFE); the Accredited Financial Examiner (AFE) which merits an increase to Pay Grade M, and the Certified Financial Examiner (CFE) which merits an increase to Pay Grade N. The Department pays for associated fees, materials, and study time.

HOW TO APPLY:

• A cover letter – detailing your position-related background and experience, including:

• A self-rated skill level with Generally Accepted Accounting Principles ("GAAP") and/or Statutory Accounting Principles ("SAP") as beginner, proficient or advanced with an example that demonstrates the reason for your self-rating.

• The length of time you have professionally been using GAAP and/or SAP.

• The qualified educational requirements that you have successfully completed, as listed in the minimum qualification and on the SOFE website:

• Note: If you meet all the position's expectations and yet lack some of the educational requirements, per SOFE, you are still encouraged to apply. However, please list the names of missing courses in your cover letter.

• A resume – relevant to this position

• A list of three (3) professional references – detailing the length and nature of your association including email addresses.

RESPONSIBLITIES:

• Monitors financial solvency of Idaho licensed domestic and foreign insurance-related entities by performing in-depth review and analysis of regular periodic filings based on Idaho and national procedures manuals.
• Conducts initial level review/analysis of self-funded health care plans registered in Idaho.
• Provides recommendations to the supervisor regarding regulatory actions related to insurers' financial performance.
• Ensures that the financial analysis performed meets national standards and accreditation standards of the NAIC.
• Monitors changes to Statements of Statutory Accounting Principles (SSAP), model laws and other activities of the NAIC, which affect financial reporting and regulation of insurance companies.
• Participates in all assigned training classes.
• Occasional work-related travel (+/-10%) and some overtime may be required by this position throughout the year.
• An EFA employee is required to earn the AFE designation within 3 years of hire; and will be required to earn the CFE designation within 3 years after the AFE designation

MINIMUM QUALIFICATIONS:

A bachelor's degree in accounting from an accredited college or university, OR a bachelor's degree in another field of study from an accredited college or university and have successfully completed ALL of the following courses (a copy of school transcripts MAY be requested during the interview process):

• Accounting Fundamentals (6 semester hours)
• Finance or Economics (3 semester hours)
• Business Law (3 semester hours)
• • The three (3) semester hours of business law requirement may be met through the successful completion of the college level law courses offered by LOMA, CPCU, or CLU, may be substituted for the required semester hours (you must provide documentation from LOMA, CPCU, or CLU to verify this course).
• Management course (3 semester hours)

The Ideal Candidate has:

• Compelling customer service, positive attitude and a desire to assist Idahoans.
• Working knowledge and experience with Generally Accepted Accounting Principles (GAAP), reviewing financial statements, and familiarity with auditing procedures.
• Knowledge of Statutory Accounting Principles (SAP) and financial analysis, and insurance regulatory standards.
• Professional experience researching, interpreting, and applying laws and authoritative standards.

This position has a career ladder of three levels within the Company Activities Bureau. The successful candidate will be hired at a commensurate level with qualifications.

SUPPLEMENT INFORMATION:

The DOI is the executive agency that regulates the business of insurance in Idaho, as part of the U.S. insurance regulatory framework designed to protect policyholders and to serve the greater public interest.

This position is exempt from classified state service and the rules of the Division of Human Resources and the Idaho Personnel Commission.

The mission of the Department of Insurance is to serve and protect Idahoans by equitably, effectively, and efficiently administering the Idaho Insurance Code and the International Fire Code.

The Department of Insurance is in downtown Boise across the street from the state's Capitol Building. Boise, Idaho has consistently received top billing as one of the best places to live in the country To learn more about Idaho DOI and the important work we do, go to the DOI website, and follow us on Facebook, X (Formerly Twitter), LinkedIn, and Instagram

Working in public service provides staff members with a significant source of personal fulfillment and sense of purpose, as we strive daily to make a measurable difference in the lives of Idahoans. The agency believes in and invests in staff development and encourages all employees to seek out professional development opportunities.

BENEFITS:

This benefited position enjoys:

• Excellent medical, dental, and vision insurance health plans
• Nationally recognized PERSI retirement benefits
• Paid sick and vacation leave accrual upon hire
• Paid parental leave
• 11 paid holidays annually
• A healthy work-life balance
• Career growth and professional development opportunities

For additional information related to benefits and/or State programs visit:

EEO/ADA/VETERAN:

The State of Idaho is committed to providing equal employment opportunities and prohibit discrimination against qualified individuals based on their status as protected veterans or individuals with disabilities and prohibit discrimination against all individuals based on their race, color, religion, political affiliation or belief, sex, national origin, genetics, or any other status protected under applicable federal, state, or local laws.

The State of Idaho is committed to access and reasonable accommodations for individuals with disabilities, auxiliary aids and services are available upon request. If you require an accommodation at any step in our recruitment process, you are encouraged to contact TTY/TTD: 711), or email

Preference may be given to veterans who qualify under state and federal laws and regulations.