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People Making
A Difference!

Idaho
State Government

Department
of Insurance

PO Box 83720
Boise ID 83720-0043

WEBSITE:
http://www.doi.idaho.gov/

FAX:
(208) 334-4398

EMAIL:
jobs@doi.idaho.gov 

Non-Classified Opening

Insurance Financial Examiner

Non-Classified Classification

Department of Insurance

Open for Recruitment: July 13, 2017 - Open until further notice
Announcement # NONCLS051677
Salary Range: $27.16 - $38.80 per hour -Plus Competitive Benefits!

Location(s): Boise

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

The Department of Insurance is the state agency that regulates Idaho’s insurance industry and protects consumers by monitoring and enforcing insurers’, insurance professionals’, and other related entities’ compliance with state law. Idaho’s Department of Insurance is currently looking for two (2) Insurance Financial Examiners to join its team of qualified professionals.

Description:

This position conducts financial condition examinations in a manner consistent with the procedures, duties and responsibilities of an examiner in accordance with the NAIC Financial Condition Examiners Handbook and the State of Idaho laws and rules and performs related work.  Some work related travel is required, and the selected candidate may need to successfully pass a background check. 

Responsibilities:

  • Review and gain an understanding of insurer operations, including its corporate governance structure and its enterprise risk management framework through a review of regulatory filings, discussions with Department staff, discussions with company personnel, review of public information, review of industry trends and other sources of information as applicable.
  • Exercise judgment to identify and assess solvency risks facing the company, from both a current and prospective risk perspective.
  • Review and assess the effectiveness of the insurer’s audit function (internal and external) as well as the enterprise risk management function to leverage existing work and gain efficiency in conducting examinations, where appropriate.
  • Identify relevant controls and/or risk mitigation strategies to address risks identified and perform tests of controls to evaluate their effectiveness, as appropriate.
  • Apply professional skepticism when assessing the strength of controls and/or risk mitigation strategies.
  • Examine insurer records, practices and activities to appropriately determine insurer compliance with state laws, rules, and NAIC standards and guidelines.
  • Research complex issues relating to state law, state rules, statutory accounting principles, etc.
  • Prepare examination work papers to provide accurate and complete documentation of observations, work performed and examination findings in accordance with Department and NAIC standards and guidelines.
  • Effectively communicate to the insurer, both verbally and in writing, regarding the details of exam findings through exam reports, management letters, and exit conferences.
  • Effectively manage time and expenses against budget.
  • Attain/maintain the Certified Financial Examiner (CFE) designation as directed.  Use link to obtain information regarding educational requirements offered by the Society of Financial Examiners: Accredited Financial Examiner .  

Qualifications, Education and Experience:

Applicants must have background that has prepared them with the necessary knowledge, skills, and abilities to succeed in a fast paced environment, quickly learn statutory accounting, insurance regulation, and standard procedures.

Knowledge, Skills and Abilities:

  • Strong communications skills (both written and oral).
  • Ability to participate in presentations discussing examination findings.
  • Ability to understand and evaluate the enterprise risk management functions of insurers.
  • Ability to think critically and make decisions based on reasonable and timely analysis.
  • Ability to understand and evaluate risks, as well as risk mitigation strategies and controls.
  • Ability to follow ad hoc instructions on occasional and unfamiliar projects.
  • Proficient with MS Word, Excel, and other related tools.
  • Ability to use electronic workpaper documentation tools.
  • Ability to properly research, interpret and apply laws, rules, policies and procedures and to become proficient in Idaho Code, Title 41.
  • Ability to quickly learn and implement governmental procedures, statutory accounting and examinations and other authoritative material.
  • Ability to properly interpret various types of financial data and highly technical accounting reports.
  • Desire and aptitude to attain and maintain Certified Financial Examiner designation from the Society of Financial Examiners as required. 

The ideal candidate will have:

  • Certified or Accredited Financial Examiner designation.
  • Certified Public Accountant license.
  • Obtain relevant designations that enhance examiner’s ability to perform and lead examinations such as CFE, PIR, MAAA or AIAF.
  • Knowledge of Statutory Accounting Principles, NAIC Financial Examiners’ Handbook, and other insurance regulatory standards. 

How to Apply:

After careful review of this announcement, please submit a cover letter which details how your individual background and experience makes you qualified for this position, including whether you meet specific SOFE educational requirements.  As indicated earlier--see link for requirements:  Accredited Financial Examiner.  Your submitted information should also include a resume and at least three (3) professional references.  Please include the nature of the professional association along with the length of time you’ve known the individual. When applicable to the interview process for this position, candidate(s) will be required to provide proof of degree with transcripts. Candidate information should be sent to:

Idaho Department of Insurance
Attn: Human Resources

PO Box 83720
Boise, ID 83720-0043
Email:
jobs@doi.idaho.gov 
Phone: (208)334-4250  Fax: (208) 334-4398

Thank you for your interest in employment with the
Idaho’s Department of Insurance!
 

Hiring is done without regard to race, color, religion, national origin, sex, age or disability. In addition, preference may be given to veterans who qualify under state and federal laws and regulations. If you need special accommodations to satisfy testing requirements, please contact the Division of Human Resources.