Financial Analyst I

$58,152 - $58,152/Yr

Unclassified - Oklahoma City, OK

Part-time,Full-time - Entry Level

Oklahoma City, OK

10,001+ employees

About the position

The Financial Analyst I position at the Oklahoma Insurance Department involves conducting financial and statutory reviews of licensed insurance companies and other entities. The role is focused on ensuring financial solvency for policyholders in Oklahoma by analyzing annual and quarterly statements in accordance with NAIC guidelines and state regulations. The analyst will collaborate with various stakeholders and produce reports to support the department's oversight responsibilities.

Responsibilities

• Review filings, approve/deny forms, and analyze financial filings for financial stability, solvency, and statutory compliance.
• Use NAIC tools and guidelines to perform analysis in accordance with the NAIC Financial Regulation Standards and Accreditation Program.
• Create Insurer Profile Summary (IPS) and Group Profile Summary (GPS) for distribution to other state departments of insurance.
• Correspond with other state insurance departments regarding Oklahoma companies.
• Identify concerns, recommend resolutions, and forward reports to the Chief Financial Analyst.
• Handle both oral and written correspondence with management, companies, regulators, and examiners.
• Produce material for examinations and attend examination meetings and interviews.
• Review initial application, admission documents, and financial reports; analyze company and parent; make recommendations to accept or deny the application.
• Review and approve securities and statutory deposits of insurers.
• Maintain continuing education to meet NAIC accreditation standards.
• Attend NAIC webinars, ICCIE or other insurance/financial analyst training.
• Perform related work and special projects as required or assigned by Chief Financial Analyst.

Requirements

• Bachelor's degree in accounting, economics, finance, or actuarial science.
• Zero to three years of experience in financial analysis, preferably in insurance financial analysis.
• Basic knowledge of insurance accounting, including statutory accounting principles and generally accepted accounting principles.
• Proficiency in Microsoft Office, specifically Excel, Word, and Outlook.
• Ability to understand statutes, policies, and procedures and apply them to the business of the Department.
• Good time management skills, with strong communication and organizational skills.

Nice-to-haves

• Preference for applicants holding designations such as CPA, CFE, AFE, CIE, AIE, FLMI, CPCU, or ICCIE (ACI or CCI).

Benefits

• Telework options after initial training (1-2 days a week).
• Access to employee benefits through the Office of Human Capital Management.