Financial Regulator I

State of Utah Office of the Governor • Taylorsville, UT

7d • $29 - $45 • Hybrid

About The Position

Join the Utah Insurance Department’s Insurance Financial Regulation team to conduct examinations and analyses of insurance companies and ensure compliance with financial regulations. The role focuses on identifying solvency risks, evaluating insurers’ prospective financial stability, reviewing financial and regulatory filings, and assessing compliance with insurance accounting laws, rules, standards, Statutory Accounting Principles, and NAIC accreditation standards. The position also reviews company applications and holding company systems, analyzes financial models and risks, and documents findings and recommendations for regulatory action or negotiated resolutions.

The position is based at the Taylorsville State Office Building in Taylorsville, Utah, and offers a hybrid work arrangement. It is full-time and eligible for a full benefits package. The employee is required to earn the Certified Financial Examiner (CFE) designation within five years of hire; the role also promotes obtaining Accredited Financial Examiner (AFE) and CFE designations. A background check is required; a drug test is not required.

Requirements

• Bachelor’s degree in accounting, economics, business, finance, insurance, or actuarial science to meet the education requirement for Society of Financial Examiners (SOFE) designations.
• Earn the Certified Financial Examiner (CFE) designation within five years of hire; coursework is provided through SOFE.
• Ability to perform work in a standard office setting, including sitting comfortably, 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 prospective financial stability for current domestic and prospective insurance companies.
• Determine insurer compliance with insurance accounting laws, rules, standards, Statutory Accounting Principles, and NAIC accreditation standards.
• Assure compliance for new-company and re-domestication applications, including assessing the impact of holding company systems on insurer financial stability.
• Identify significant solvency risks, report findings, and make formal recommendations for regulatory action or negotiated resolutions of non-compliance issues.
• Review external reports filed with the Department, including quarterly and annual statements, holding company filings, and Own Risk and Solvency Assessments (ORSA).
• Review and evaluate requests involving intercompany transactions, permitted practices, surplus note and interest payments, extraordinary dividends, Form A filings, and primary or re-domestication applications according to procedures and deadlines.
• Analyze 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, independently or as part of a team.
• Summarize data, interpret results, write or draft correspondence, and prepare documentation supporting regulatory findings and resolutions.

Benefits

• Full benefits package eligibility.
• Job stability within a well-established organization.
• Career growth, valuable skill development, and opportunities for leadership.
• Meaningful work that benefits the community and supports organizational goals.
• Supportive work environment emphasizing cooperation, strong work ethics, and mutual support.
• Work/life balance is described as an important part of the organization’s culture.

What This Job Offers

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