Insurance Company Examiner I

Insurance • Wake County, NC

5d • Hybrid

About The Position

This Financial Analyst position, which is part of the Captive Insurance Companies Division, will conduct financial analysis of North Carolina domestic captive insurance companies ("captive insurers") and captive insurer/captive management license applicants, utilizing the latest automated financial analysis systems and procedures intended to safeguard the financial solvency of these insurance companies. The position will evaluate applications to determine if the captive insurers or captive manager applicants meet the requirements for approval or licensing, and upon completion of each evaluation, this position will recommend appropriate North Carolina Department of Insurance ("Department") action. The position will also conduct financial analysis of licensed captive insurers to determine if they are compliant with applicable laws, regulations, procedures, and accounting practices required by this State. This position will render an opinion on the financial health of each assigned captive insurers, recommend any appropriate corrective actions, evaluate captive insurers proposals such as material business plans changes, dividend payments, and loans to or investment in affiliates, which require the approval of the Commissioner. The position will interact with people at all levels of experience within the captive insurer industry as well as within this Department. This interaction may include attendance at captive insurer conferences and events. The work is guided by state laws and regulations, Departmental policies and procedures, and guidance provided by the National Association of Insurance Commissioners.

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.
• Upload a copy of transcripts to demonstrate completion of required accounting courses.

Nice To Haves

• Basic knowledge of financial statements, financial ratios, and the impact of journal entries on financial statement components.
• Basic understanding of insurance concepts.
• Basic knowledge of generally accepted auditing standards (GAAS) and testing methods, generally accepted and statutory accounting principles (GAAP & SSAP), financial accounting concepts and theories and financial analysis procedures.
• Work experience communicating effectively in a clear and concise manner, in both oral and written form.
• Working knowledge of Microsoft Office Software.

Responsibilities

• Conduct financial analysis of North Carolina domestic captive insurance companies and captive insurer/captive management license applicants.
• Evaluate applications to determine if captive insurers or captive manager applicants meet requirements for approval or licensing.
• Recommend appropriate Department action upon completion of each evaluation.
• Conduct financial analysis of licensed captive insurers to determine compliance with applicable laws, regulations, procedures, and accounting practices.
• Render an opinion on the financial health of each assigned captive insurer.
• Recommend any appropriate corrective actions.
• Evaluate captive insurer proposals such as material business plans changes, dividend payments, and loans to or investment in affiliates, which require the approval of the Commissioner.
• Interact with people at all levels of experience within the captive insurer industry as well as within the Department.
• Attend captive insurer conferences and events.

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: Mid Level