Insurance Examiner II

State of Vermont • Calais, VT

3d

About The Position

The Insurance Examiner II works in the Department of Financial Regulation’s Insurance Division under moderate supervision, assisting with examinations and ongoing analysis of traditional insurance companies. Using a risk-focused approach, the examiner tests and evaluates insurers’ business processes and controls, including corporate governance, strategy, financial reporting, and regulatory compliance, to assess their ability to meet obligations and comply with applicable laws and regulations.

The role also includes off-site monitoring of insurers’ financial condition through review of quarterly financial statements and other required filings for trends and solvency concerns. The examiner reviews, analyzes, and evaluates the financial and operational condition of licensed traditional insurance companies; collects and analyzes data; prepares workpapers and reports; and supports senior examiners in identifying potential risks or irregularities. The position develops knowledge of insurance accounting, regulatory requirements, and examination methods while contributing to consumer protection and the integrity of the insurance marketplace.

Work is performed primarily in a normal office setting at the office of the insurer being examined. Those offices may be anywhere in the country, requiring travel and extended absences from Vermont. Work hours vary according to examination and workload needs. Employees must obtain a CPA or Accredited Financial Examiner (AFE) designation within four years of hire or promotion, not to exceed six years.

Requirements

• Master’s degree in finance, accounting, business administration, or a closely related field; or a bachelor’s degree and at least two years at or above a technical level in accounting, auditing, or financial examination; or at least 18 months as an Insurance Examiner I with satisfactory completion of departmental performance requirements.
• Strong analytical skills, sound professional judgment, and an understanding of insurance accounting principles, regulatory frameworks, and examination methodologies.
• Must obtain a CPA or Accredited Financial Examiner (AFE) designation within four years of hire or promotion, not to exceed six years.

Responsibilities

• Assist in conducting examinations and ongoing analysis of traditional insurance companies.
• Test and evaluate insurers’ business processes and controls, including corporate governance, strategy, financial reporting, and regulatory compliance.
• Review quarterly financial statements and other required filings to monitor insurers’ financial condition and identify trends or solvency concerns.
• Review, analyze, and evaluate the financial and operational condition of licensed traditional insurance companies.
• Collect and analyze data and prepare workpapers and reports.
• Support senior examiners in identifying potential risks or irregularities.

Benefits

• 80% state-paid medical premium and a dental plan at no cost for employees and their families
• 12 paid holidays each year and a generous leave plan
• State-paid Family and Medical Leave Insurance (FMLI)
• State defined-benefit pension plan and deferred compensation 457(b) plan
• Tuition reimbursement
• Flexible spending healthcare and childcare reimbursement accounts
• Low-cost group life insurance
• Incentive-based wellness program
• Qualified employer for the Public Service Student Loan Forgiveness Program

What This Job Offers

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