Jobs in this family protect State financial customers by ensuring financial strength, solvency, and regulatory compliance of financial services companies through financial or market conduct examination and analysis. Employees may also assess the effectiveness of insurance markets, analyze insurance rate pricing, and promote the affordability and availability of insurance products.
Typical functionsThe functions within this job family will vary by level, but may include the following:
Positions allocated to this series may perform the duties described, or specialize in p roviding subject matter expertise in specific aspects of examining and evaluating insurance companies. The work assigned to positions in this series ranges from directly examining and evaluating insurance companies, to administrative work directing, planning, and coordinating the analysis and/or examination activities of insurance companies.
This is an entry-level financial or market conduct examination and analysis position accountable for examining and evaluating insurance and financial services companies to verify solvency and ensure that operations are in compliance with state laws and regulations. At this level, employees participate in all phases of financial and market conduct examinations independently or as part of a team. Reviews items such as company control environment, enterprise risk management, corporate governance structures, claims practices, underwriting, sales and advertising, insurance rates, policy provisions, and complaints resolution.
Knowledge, skills & abilitiesKnowledge of insurance examination and evaluation processes. Knowledge of state statutes, regulations, standards, and acceptable practices. Ability to meet and attain any designations required for accreditation or certification. Ability to analyze financial data, forecast trends, and identify outliers and prospective risks. Ability to travel extensively, operate a motor vehicle, and maintain a valid vehicle operator’s license.
Typical qualificationsBachelor’s degree and 0-1 year of relevant experience. ( Substitutions may be allowed. )
This is a accredited designation-level of financial or market conduct examination and analysis position. At this level, employees are expected to demonstrate a level of expertise in carrying out the job duties identified in the previous level, as well as additional moderately complex examination and analysis tasks assigned with minimal supervisory input.
Knowledge, skills & abilitiesIn addition to those identified in the previous level: Sufficient knowledge and experience to obtain the AFE or AIE designations.
Typical qualificationsBachelor’s degree and 2 or more years of relevant experience and achievement of the AFE or AIE designations. ( Substitutions may be allowed. )
This is a certified designation-level of financial or market conduct examination and analysis position. At this level, employees are expected to demonstrate a level of mastery in carrying out job duties identified in the previous levels, as well as additional complex examination and analysis tasks assigned with minimal supervisory input.
Knowledge, skills & abilitiesIn addition to those identified in the previous level: Sufficient knowledge and experience to obtain the CFE or CIE designations.
Typical qualificationsBachelor’s degree and 3 or more years of relevant experience and achievement of the CFE or CIE designations. ( Substitutions may be allowed. )
This is a highly experienced or specialized-level of financial or market conduct examination and analysis position accountable for professional and specialized work providing subject matter expertise in specific aspects of examining and evaluating insurance and financial services companies to verify acceptable practices and ensure that operations are in compliance with state laws and regulations. At this level, employees participate in specific aspects of financial and market conduct examinations and investigations, with a focus on assisting the team with specialized expertise. Employees in this classification may also utilize their specialized knowledge and training to assist the Examiner-in-Charge in the management of specific aspects of the examination, investigation or analysis.
Knowledge, skills & abilitiesIn addition to those identified in the previous level: Knowledge in specific aspects of insurance examination and evaluation processes. Knowledge of the National Association of Insurance Commissioners (NAIC) Financial Condition Examiners and Market Regulation Handbooks. Ability to prepare and present detailed examination reports and investigation findings.
Typical qualificationsBachelor’s degree and 3 or more years of relevant experience and achievement of a designation demonstrating a high or specialized level of insurance experience (e.g., ARe, AES, AIDM, AIT or AMCM). ( Substitutions may be allowed. )
Team lead position accountable for professional work in identifying, examining, and evaluating insurance and financial services companies to verify acceptable practices and ensure that operations are in compliance with state laws and regulations. Accountable for assigning market analysis projects and investigations to team members and determining priorities or supervising financial examination and analysis teams and drafting examination reports.
Knowledge, skills & abilitiesIn addition to those identified in the previous levels: Ability to manage an examination through completion. Ability to review and interpret detailed examination reports and investigation findings.
Typical qualificationsBachelor’s degree and 5 or more years of relevant experience. ( Substitutions may be allowed. )
Senior-level f inancial or market conduct examination and analysis position accountable for professional, administrative, and supervisory work directing teams in identifying, examining, and evaluating insurance and financial services companies to verify acceptable practices and ensure that operations are in compliance with state laws and regulations. Positions at this level oversee the analysis and examination activities of assigned units and supervise all levels of examiners. At this level, positions supervise staff members including hire recommendations, training, planning and assigning work, performance assessment, coaching, and progressive discipline. Supervision at this level also requires these positions to have the knowledge and skills to perform and review the work overseen.
Knowledge, skills & abilitiesIn addition to those identified in the previous levels: Ability to effectively supervise staff and oversee multiple projects. Ability to develop a plan and coordinate efforts through completion of project.
Typical qualificationsBachelor’s degree and 7 or more years of relevant experience. ( Substitutions may be allowed. )
Senior-level financial or market conduct examination manager position accountable for overseeing the financial or market conduct examination sections and directing, planning, and coordinating the analysis and examination activities of insurance companies to verify acceptable practices and ensure that operations are in compliance with state laws and regulations. This requires the coordination of multiple resources, and evaluation and summarization of findings to be presented to leadership for review. Positions at this level coordinate all efforts of the financial examination or market conduct section and supervise senior-level positions. Supervision includes hire recommendations, training, planning and assigning work, performance assessment, coaching, and progressive discipline. Supervision at this level also requires these positions to have the knowledge and skills to perform and review the work overseen.
Knowledge, skills & abilitiesIn addition to those identified in the previous levels: Ability to represent the department to other states and national associations. Ability to negotiate corrective action plans.
Typical qualificationsBachelor’s degree, 7 or more years of relevant experience, and 1-2 years of supervisory experience. ( Substitutions may be allowed ).