Insurance Company Examiner - Insurance Company Financial Analyst

$56,306 - $65,832/Yr

State Of Maine - Gardiner, ME

Full-time - Entry Level

Gardiner, ME

Executive, Legislative, and Other General Government Support

About the position

The Insurance Company Examiner will work within the Bureau of Insurance to protect Maine consumers by conducting risk-focused financial examinations of insurance companies. This role involves analyzing financial statements, assessing compliance with regulations, and evaluating the financial stability of insurance entities.

Responsibilities

• Examine and analyze assets and liabilities, surplus and other funds, statements of income, cash flow, and supporting documents of insurance companies using NAIC prescribed analysis techniques.
• Analyze various statutory filings such as Management Discussion & Analysis, Statement of Actuarial Opinion, Corporate Governance Annual Disclosure, Group Capital Calculation filing, and Risk-Based Capital Reports.
• Review company compliance with applicable laws, rules, regulations, and standards, including Statutory Accounting Practices.
• Assess risks of insurance-related entities, including inherent risks, risk mitigation strategies, residual risk, and prospective risks.
• Evaluate investment portfolios to assess performance, accurate valuation, and compliance with investment laws and Statutory Accounting Practices.
• Assess financial stability to identify areas of concern or strength for financial analysis documentation.

Requirements

• A Bachelor's Degree in Accounting or a closely related field, or an acceptable four-year equivalent combination of education, training, and experience.
• Knowledge of Generally Accepted Accounting Principles (GAAP).
• Knowledge of proper business management procedures.
• Ability to prepare clear and comprehensive analysis documentation.
• Ability to analyze accounts, records, and documents for irregularities.
• Ability to analyze financial statements.
• Ability to produce high-quality work that meets or exceeds NAIC standards.
• Ability to establish and maintain effective working relationships.
• Ability to communicate clearly and effectively, both in writing and verbally.
• Ability to use applicable computer programs.

Nice-to-haves

• Accredited Financial Examiner or Certified Financial Examiner designation is preferred.

Benefits

• 13 paid holidays
• 12 days of sick leave
• 3+ weeks of vacation leave annually
• Health Insurance Coverage (State pays 85%-100% of employee-only premiums)
• Dental Insurance (State pays 100% of employee-only dental premiums)
• Retirement Plan (State contributes 13.41% or 18.21% of employee's pay towards MainePERS)