Insurance Company Examiner I

State of North Carolina

1d • Hybrid

About The Position

The mission of the North Carolina Department of Insurance is to promote a stable insurance market through unbiased regulation and to protect the lives and property of every citizen in all 100 counties while fostering superior, user-friendly service, courtesy, and respect. Our agency licenses insurance agents, adjusters, bail bondsmen and more, along with investigating fraud matters involving insurance consumers and any entity or individual regulated by the Department. In an ever-changing environment, it is the vision of the Department of Insurance to maintain the stabilization of the insurance industry in order to provide more products, competitive prices and consumer protection.
Salary Recruitment Range: $47,703 - $69,680
Salary Grade: NC12
The posting will close at 11:59 p.m. the night before the closing date. This position currently qualifies for a hybrid telework option with routine office and remote workday. The NC Department of Insurance trusts our employees to be self-motivated and successful in hybrid/remote roles. Telework options are subject to change at the discretion of management.
Primary Purpose of the Organizational Unit: The Financial Analysis Division authorizes all insurers and similar or related entities to transact business in North Carolina, continuously monitors insurers and entities, identifies troubled insurers and entities, and takes timely and appropriate actions to protect the interest of North Carolina insurance consumers.
Primary Purpose of the Position: This is a key position in the Financial Analysis Division. This employee will conduct financial reviews of insurance companies domiciled and/or licensed in the State of North Carolina. Using automated financial analysis systems and procedures, this employee will monitor and analyze the financial solvency of insurance companies to protect the policyholders of North Carolina by conducting the following: • Determine if insurers are maintaining compliance with applicable laws, regulations, procedures, and statutory accounting practices required by this State. • Render an opinion on the financial health of each assigned company and recommend any appropriate corrective actions. • Evaluate company proposals such as changes of control, mergers, re-domestications, business plans, reinsurance transactions, and other material changes in operations, which require the approval of the Commissioner. This employee will have the opportunity to interact with people at all levels within the insurance companies as well as within the Department of Insurance. The work is guided by State laws and regulations, Departmental policies and procedures, and guidance provided by the National Association of Insurance Commissioners (NAIC).

Requirements

• Bachelor's degree from an appropriately accredited college or university, with the appropriate courses in accounting as defined in 21 NCAC 8A.0309 and other courses required to qualify as a candidate for the uniform certified public accountant examination, based on the examination requirements in effect at the time of graduation.

Nice To Haves

• Experience with and a basic knowledge of financial statements, financial ratios, and the impact of journal entries on financial statement components.
• Experience documenting facts, findings, conclusions, and recommendations.
• Experience working both independently and collaboratively with a team.
• Experience managing time effectively to ensure that multiple projects are completed in timely manner.
• Strong written and oral communication skills.
• Please provide a copy of your college transcripts with the application.

Responsibilities

• Conduct financial analysis work, in order to monitor the operations and financial condition of proposed and authorized regulated entities for compliance with the solvency laws of North Carolina.
• Work involves independently analyzing financial statements, mergers, acquisitions, independent auditor reports, actuarial reports, business plans, operations, and other proposed transactions.
• Employees interact with Department management and lower and mid-level staff of regulated entities.
• The position documents findings and makes recommendations on necessary and appropriate actions based on pre-established guidelines and State law.

Benefits

• 12 Annual paid Holidays
• North Carolina State Health Plan administered by AETNA
• Supplemental Benefits including Flexible Spending Accounts, Accident Insurance, Cancer & Specified Disease, Critical Illness, Dental and Vision
• NC State Retirement (TSERS)
• WeSave Employee Discounts

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Number of Employees: 1,001-5,000 employees