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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) 334-4298

EMAIL:
jobs@doi.idaho.gov 

Non-Classified Opening

Examiner Financial Analyst 1, 2 or 3

Non-Classified Classification

Department of Insurance

Open for Recruitment: November 14, 2017 - November 28, 2017
Announcement # NONCLS065364
Salary Range: $23.00 - $32.22 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 an Examiner Financial Analyst 1, 2 or 3 to join its team of professionals.

Note: This career ladder includes three levels within the Company Activities Bureau. The successful candidate will be hired at the level commensurate with qualifications.  Please see “Qualifications, Education and Experience for further details.

Description:

The Examiner Financial Analyst (EFA) protects Idaho policyholders by performing professional analysis work to ensure that insurance companies and other regulated entities comply with Idaho insurance laws and requirements of the National Association of Insurance Commissioners (NAIC). Work is performed in accordance with applicable laws, rules, procedures, guidance, administrative directives and national standards adopted by Idaho.

Responsibilities:
  • Performs in-depth review and analysis of regular periodic filings including, annual, quarterly and supplemental filings made by domestic insurance companies and related entities based on Idaho and national procedures manuals. 
  • Monitors financial solvency of Idaho licensed foreign insurance-related entities domiciled outside of Idaho.
  • Provides recommendations to supervisor regarding regulatory actions related to insurers’ financial performance. 
  • Ensures that the financial analysis performed meets national standards and accreditation standards of the NAIC. 
  • Conducts initial or second level review/analysis of self-funded health care plans registered in Idaho. 
  • 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.
  • May participate in examinations of domestic insurance companies or self-funded plans. 
  • Participates in training classes. 
  • Some travel will be required. 

Qualifications, Education and Experience:

Applicants must meet the specific education requirements, as well as adhere to assigned timelines to attain an AFE and CFE designations offered by the SOFE. An EFA level 1 employee is expected to earn the AFE designation within 36 months of hire; level 2 position requires an Accredited Financial Examiner (AFE) designation and will be expected to earn Certified Financial Examiner (CFE) designation within 36 months of hire; level 3 requires a CFE designation.  Full details are available at: www.sofe.org

Knowledge, Skills and Abilities:

  • Ability to properly research, interpret and consistently apply state insurance laws, rules, policies and procedures; become proficient in Idaho Code, Title 41.
  • Ability to quickly learn and implement governmental procedures, statutory accounting principles, and other authoritative material.
  • General understanding of GAAP; full performance level (2) and above, includes proficiency in SSAP.
  • Ability to use computers and databases to retrieve information and record analysis.
  • Ability to analyze and properly interpret various types of financial and statistical data and highly technical accounting reports.
  • Ability to write clear, concise work papers, analysis summaries and draft findings.
  • Ability to recognize deficiencies in accounting, compliance and management controls.
  • At upper levels: the ability to analyze all types of statutory financial statements and effectively recommend legal action to section supervisor and bureau chief. 

The Ideal Candidate Will Have:

  • Bachelor’s degree in accounting from an accredited college or university.  A degree major other than accounting, must provide transcripts that include: Accounting Fundamentals (6 semester hours); Finance or Economics (3); Business Law (3); Management (3). 
  • Certified Public Accountant license.
  • Knowledge of SSAP, NAIC Financial Analysis Handbook, and other insurance regulatory standards.
  • Regulatory/Insurance industry experience.
  • AFE or CFE designations as provided by the Society of Financial Examiners.

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 specific related course titles and credits completed.  See link for requirements: http://www.sofe.org/certification
  • Complete Job Application Form at:  https://dhr.idaho.gov/JobSeekers/JobForms.html.
  • A resume’ and at least three (3) professional references (include length/nature of association).
  • When applicable to the interview process for this position, candidate(s) may be required to provide proof of degree and unofficial transcripts.

Candidate information and related inquiries should be sent to:

Idaho Department of Insurance
Attn: Human Resources
PO Box 83720
Boise, ID 83720-0043
Email:
jobs@doi.idaho.gov
Fax: (208) 334-4298

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.