Financial Regulator I

State of Utah • Taylorsville, UT

5d • Hybrid

About The Position

The Financial Regulator I joins the Utah Insurance Department’s Insurance Financial Regulation team to conduct examinations and analyses of insurance companies and help ensure their compliance with financial regulations. The role focuses on identifying solvency risks and assessing insurers’ prospective financial stability, regulatory compliance, and financial condition. The employee is expected to earn the Certified Financial Examiner (CFE) designation within five years of hire; the posting also describes obtaining Accredited Financial Examiner (AFE) and CFE designations.

The position reviews insurer financial statements and other regulatory filings, evaluates transactions and applications, analyzes financial and risk models, and assesses governance, risk management, audit functions, investments, reinsurance, and counterparty risks. Work may be performed independently or as part of a team and includes documenting findings, drafting correspondence, and making recommendations for regulatory action or resolutions of non-compliance.

The position is full-time and hybrid, based at the Taylorsville State Office Building in Taylorsville, Utah. It offers an hourly salary range of $29.28 to $45.18 and is eligible for a full benefits package.

Requirements

• Bachelor’s degree in accounting, economics, business, finance, insurance, or actuarial science to meet the education requirement for Society of Financial Examiners designations.
• Earn a Certified Financial Examiner (CFE) designation within five years of hire; coursework is provided through the Society of Financial Examiners (SOFE).
• Ability to perform work in a standard office setting, including sitting, light walking, standing, bending, carrying light items, and driving.

Nice To Haves

• Knowledge of Statutory Accounting Principles, insurance laws, and NAIC accreditation standards.
• Experience evaluating complex financial statements, risk-based capital models, actuarial reserve projections, holding company structures, and reinsurance and counterparty risks.

Responsibilities

• Identify, assess, and evaluate solvency risks and the prospective financial stability of current domestic and prospective insurance companies.
• Determine insurer compliance with specialized insurance accounting laws, rules, standards, Statutory Accounting Principles, and NAIC accreditation standards.
• Assess compliance for new-company and re-domestication applications, including the impact of holding company systems on an insurer’s financial stability.
• Identify significant solvency risks, report findings, and recommend regulatory action or negotiated resolutions of non-compliance issues.
• Review quarterly and annual statements, holding company filings, Own Risk and Solvency Assessments (ORSA), and other external reports filed with the Department.
• Analyze requests involving intercompany transactions, permitted practices, surplus note and interest payments, extraordinary dividends, Form A filings, and primary or re-domestication applications.
• Evaluate financial data, pro forma projections, risk-based capital models, investment risks, and actuarial estimates for reserving.
• Evaluate corporate governance structures, risk management frameworks, internal and external audit functions, investments, reinsurance, and counterparty risks.
• Summarize data, interpret results, draft correspondence, and prepare documentation supporting regulatory findings and resolutions.

Benefits

• Full benefits package eligibility.
• Job stability within a well-established organization.
• Career growth, skill development, and opportunities for leadership.
• Meaningful work benefiting the community and supporting organizational goals.
• Supportive work environment emphasizing cooperation, strong work ethics, and mutual support.
• Work/life balance.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level