INSURANCE COMPANY FINANCIAL EXAMINER TRAINEE
About The Position
The Department of Insurance is seeking to hire an Insurance Company Financial Examiner Trainee. Under immediate supervision, for a period of up to twelve months, the trainee receives training and is assigned various work assignments to develop the knowledge, understanding, skills and abilities required to conduct financial analysis of assigned insurance companies’ financial and non-financial documents to verify a company’s financial condition and to determine if all operations are in compliance with the Illinois Insurance Code and applicable laws, rules, regulations and current insurance accounting practices; completes a variety of assignments in the application of auditing and accounting techniques; assists financial analysts and specialists in various aspects of financial analysis; receives instruction in preparing analysis worksheets, documents and reports to document and support findings; completes agency training to develop and enhance knowledge of the analysis process. 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.
- Requires the ability to pass a background check.
Nice To Haves
- Prefers elementary knowledge of insurance accounting and auditing theories, methods, standards, and procedures.
- Prefers elementary knowledge of business administration practices as related to insurance companies.
- Prefers elementary knowledge of technology utilized by the insurance industry.
- Prefers ability to successfully complete on-the-job training assignments for the financial analysis of insurance companies.
- Prefers ability to prepare 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 ability to acquire knowledge in 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
- As a financial analyst team member, receives instruction and on-the-job training to learn the proper format and procedures to conduct financial analysis of assigned insurance companies’ financial and non-financial documents and records for property and casualty insurance companies.
- 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 financial analysts and specialists in various aspects of financial analysis such as reviewing financial statements, determining adequacy of premiums, and reviewing a company’s policies to develop knowledge, understanding and practical skills.
- Receives instruction in preparing analysis worksheets, documents, and reports to properly document and support findings and to illustrate compliance with agency guidelines.
- 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)
- Flexible work schedules may be available, dependent upon position
- Tuition Reimbursement Program and Federal Public Service Loan Forgiveness Program eligibility
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
