FINANCIAL EXAMINER/ANALYST SUPV-SES - 43001563

State of Florida•TALLAHASSEE, FL

48d•Onsite

About The Position

The Florida Office of Insurance Regulation (OIR), Bureau of Life & Health Financial Oversight, is hiring a supervisor for the Financial Analysis subdivision of the Health Care Section in Tallahassee, Florida. OIR regulates Florida’s insurance market and has approximately 250 staff members. The supervisor directs and oversees analysts’ financial analysis and contract review work, ensuring that reviews are thorough, appropriately documented, timely, and tailored to each insurer’s size, risk, and complexity. The role also involves assessing insurer solvency and compliance, coordinating with other regulators and regulatory functions, and communicating with company executives and professional advisers. The supervisor manages analyst assignments, workflow, performance, development, and training. Responsibilities include hiring recommendations, employee evaluations, feedback, performance improvement and disciplinary recommendations, and maintaining related records. The supervisor also contributes to personnel policies, legislative proposals, public representation, and administrative matters as assigned. The position requires ongoing attention to insurance industry developments and participation in relevant training. The position requires a bachelor’s degree or higher in accounting, finance, business, risk management and insurance, or actuarial science. Applicants will complete an exam or work sample assessing insurance knowledge and the ability to read, comprehend, and apply Florida statutes. The stated starting annual salary is $72,000.04.

Requirements

Bachelor’s degree or higher from an accredited college or university, majoring in accounting, finance, business, risk management and insurance, or actuarial science.
Strong written and oral communication skills.
Advanced understanding of insurance operations, risk, risk management techniques, and transaction flows.
Advanced understanding of risks that may arise from a group’s non-insurance operations.
Strong analytical skills, including the ability to combine current financial information with projections and narrative reports such as business plans, Form F, MD&A, and ORSA into analyst summaries and conclusions.
Accountability for solvency monitoring of assigned companies.
Ability to exercise objectivity, fairness, sound judgment, and courtesy, and to draw reasonable conclusions.
Ability to research and apply state laws, insurance department regulations, procedures and practices, GAAP, and NAIC statutory accounting practices.
Ability to understand and evaluate insurers’ enterprise risk management functions.
Ability and desire to develop staff and supervise staff examiners.
Ability to review and challenge others’ work and conclusions and provide constructive feedback.
Ability to make decisions based on reasonable and timely analysis and to evaluate and challenge information provided by companies.
Ability to multitask, manage multiple projects and time effectively, and adapt to changing expectations and environments.
Proficiency with Microsoft Word, Excel, and related tools, and with electronic work-paper documentation tools.
Applicants must complete an exam or work sample evaluating insurance knowledge and skills in reading, comprehension, and application of Florida statutes.

Nice To Haves

One year of supervisory experience.
One year of financial analysis, public accounting, or similar experience specializing in the insurance industry.
Relevant designations, such as AFE, CFE, CPA, CPCU, FLMI, PIR, or APIR.

Responsibilities

Supervise the Financial Analysis subdivision by directing analysts and reviewing the quality, depth, documentation, and resolution of their financial analyses and contract reviews.
Ensure analyses incorporate company filings, internal and external information, and NAIC tools, and are appropriately customized to insurer size, risk, and complexity.
Oversee financial analysis and contract review workflow and compliance with applicable timeliness guidelines, NAIC accreditation requirements, and SMART Goals.
Communicate with company executives, department staff, and other regulators to investigate issues and assess whether further regulatory action is warranted.
Review insurer priority-level conclusions and determine whether modifications are needed.
Review and, where appropriate, revise Insurer Profile Summaries and Group Profile Summaries to ensure risks and monitoring are communicated to other regulators.
Review conclusions about insurer compliance with state laws, regulations, NAIC standards, and Office standards and guidelines.
Assign insurers and insurance groups to analysts and determine the level of analyst oversight based on risk, complexity, and staff abilities.
Coordinate work with other regulatory functions to avoid duplicated efforts or requests; research complex legal, regulatory, accounting, and other issues.
Recommend hiring decisions, including reviewing applications, selecting candidates for work samples and interviews, interviewing, and preparing hiring recommendation memos.
Train new employees and instruct analysts in risk-focused surveillance concepts and advanced analytical skills.
Maintain employee schedules, review-timeline records, productivity and efficiency files, performance feedback documentation, and work assignments.
Provide oversight to poorly performing analysts, including performance improvement plans, discipline, and recommendations for disciplinary action.
Recommend employee termination, advancement, promotion, or other status changes, and evaluate employee performance under OIR procedures.
Guide staff to adapt analytical approaches based on findings and to apply professional skepticism and critical thinking when investigating issues and reviewing insurer information.
Attend meetings and hold conferences with companies, analysts, accountants, attorneys, actuaries, consultants, and others to resolve issues relating to financial reports, investigations, or audits.
Assist with administration and development of bureau personnel policies.
Identify external training opportunities and develop and conduct internal training as needed.
Propose legislative changes to statutes and represent the Department at public functions when directed.
Assist with administrative matters as directed by the Director or Chief, and perform related duties as required.
Monitor industry trends through business journals and other publications and assess their implications for insurers and the financial analysis process.
Maintain relevant professional designations and participate in training, identifying implications for analysis and additional training needs for the state.