Insurance Company Financial Examiner Trainee

State of Illinois • Springfield, WA

12h • Onsite

About The Position

The Illinois Department of Insurance is seeking to hire an Insurance Company Financial Examiner Trainee. Under immediate supervision, for a period of up to twelve months, this position receives training and work assignments to develop knowledge, understanding, skills, and abilities required to review and analyze insurance companies and insurance group holding companies per established procedures and guidelines. We invite all qualified applicants to apply.

Requirements

• Requires a bachelor’s degree with coursework in accounting, business, economics, finance, insurance, information technology, risk management, or a closely related field.

Nice To Haves

• Prefers elementary knowledge of business administration practices as related to insurance companies.
• Prefers elementary knowledge of how the insurance industry is utilizing technology and the risks created through the use of that technology.
• Prefers ability to successfully complete on-the-job training assignments for the analysis of insurance companies.
• Prefers one (1) year of work experience preparing documentation and reports of analysis findings in a logical and concise manner.
• Prefers ability to learn and retain knowledge of the Illinois Insurance Code and all applicable laws, rules, regulations, and current accounting practices the govern the insurance industry.
• Prefers elementary knowledge of the structure, operation, and management of insurance companies.
• Prefers ability to establish effective working relationships with agency staff and insurance company officials and representatives.
• Prefers ability to perform duties in a professional, efficient, and ethical manner and to maintain the confidentiality of the company’s information that is obtained during the analysis process.

Responsibilities

• Under immediate supervision, receives instruction and on-the-job training, for a period of up to twelve months, in the review and analysis of insurer filings under review, including Own Risk and Solvency Assessment (ORSA), Corporate Governance Annual Disclosure (CGAD) and Group Capital Calculation (GCC) filings and financial statements and non-financial documents and records, per the current agency established procedures and guidelines.
• Completes a variety of assignments in the application of auditing and accounting techniques, including the analysis of the company’s financial and non-financial documents.
• Assists Group Supervision analysts and specialists in various aspects of analysis.
• Receives instruction in reviewing various contracts and holding company filings.
• Completes agency training assignments or other formal training designed to develop and enhance knowledge of the analysis process, the operations of insurance companies and all applicable law, rules, regulations, and current accounting practices.
• Performs other duties as required or assigned which are reasonably within the scope of the duties enumerated above.

Benefits

• Health, Life, Vision, and Dental Insurance
• 13 Paid Holidays annually, 14 on even numbered years
• 10-25 days of Paid Vacation time annually - (10 days in year one of employment)
• 12 Paid Sick Days annually (sick days carry over from year to year)
• 12 Weeks Paid Maternity/Paternity Leave
• 3 Paid Personal Days annually
• Pension Plan
• Deferred Compensation Program and other pre-tax benefit programs (Medical/Daycare)
• Tuition Reimbursement Program and Federal Public Service Loan Forgiveness Program eligibility

What This Job Offers

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