INSURANCE EXAMINER SUPERVISOR/EXPERT

State of Arkansas•Little Rock, AR

2d•$103,991 - $153,907•Onsite

About The Position

The Insurance Examiner Supervisor / Expert is a highly skilled professional responsible for leading complex examinations of insurance companies to ensure financial stability, regulatory compliance, and adherence to industry’s best practices. This role involves assessing intricate financial data, evaluating operational risks, and providing strategic recommendations to protect policyholders and the public. The Insurance Examiner Supervisor / Expert acts as a subject matter expert, guiding examination teams and advising on high-level regulatory decisions. This position requires on-site employment with no remote or hybrid options available.

Requirements

A bachelor’s degree in accounting, finance, actuarial science, business administration, or a related field is required.
Minimum of 14 years of progressively responsible experience in insurance examinations, financial audits, or regulatory compliance.
Demonstrated expertise in interpreting complex financial and actuarial data, as well as evaluating regulatory compliance in the insurance industry.
Extensive experience leading examination teams and managing complex cases.
Proven track record of providing strategic recommendations and contributing to high-level regulatory decisions.
Strong leadership and team management skills.
Advanced analytical and critical-thinking abilities for interpreting complex financial and operational data.
In-depth knowledge of insurance laws, regulations, and financial principles.
Excellent written and verbal communication skills for preparing reports and engaging with a variety of assorted personnel.
Proficiency in relevant financial and analytical software tools.
High adaptability to evolving regulatory landscapes and industry developments.

Nice To Haves

Experience of financial analysis/examination work in insurance departments, insurance companies, or CPA firms.
Professional certifications such as Certified Financial Examiner (CFE), Accredited Insurance Examiner (AIE), Certified Public Accountant (CPA), or Associate of the Society of Actuaries (ASA) may be required.

Responsibilities

Supervising, directing, and planning the work of the financial analysis functions to ensure the financial health and stability of the insurance entities conducting business in the state of Arkansas.
Organizing staff, formulating procedures, allocating workloads, and coordinating with other functions to ensure the successful achievement of critical national accreditation.
Advising staff of various levels of analysts and/or examiners when problems arise or when additional procedures need to be performed. Allocating work assignments based on expertise and workload; training, developing and motivating staff; preparing performance evaluations; personnel actions including hiring; disciplinary actions; and other responsibilities.
Reviewing and analyzing work performed by analysts and examiners on financial statements and other information submitted by insurance entities to determine financial health and transaction appropriateness and determine the level of priority attention.
Reviewing, analyzing certain types of material corporate transactions and/or agreements involving insurance entities, and evaluating the analysis work and conclusion of other analysis staff. These transactions/agreements include Mergers & Acquisitions, Reinsurance Contracts, Dividends and/or Extraordinary Dividend Payments, Affiliated Agreements, Service Contracts, and Cost-Allocation Arrangements, Affiliated Sales, Purchases, Exchanges, Loans, or Extensions of Credit, Guarantees or Investments, Admission for Licensure - Foreign Companies, Formation of Domestic Insurance Entities, and Other Material Transactions.
Making recommendations to the Deputy Commissioner for Financial Regulation and the Commissioner regarding proposed solutions to problems, actions necessary to address issues and actions necessary to address troubled insurance companies, etc.
Communicating and meeting with insurance entity management and its representatives such as their attorneys, independent accountants and actuaries regarding transactions, concerns, outstanding issues, Departmental interpretations of laws, regulations and bulletins and other matters.
Proposing revisions to the laws and regulations necessary to promote the health and vitality of the insurance market in the state.
Performs other duties as assigned.
Plan, coordinate, and lead advanced examinations of insurance companies, focusing on financial solvency, compliance, and operational practices.
Analyze complex financial statements, actuarial reports, reserves, and reinsurance arrangements to identify risks and irregularities.
Evaluate company governance, risk management, and internal control systems to ensure alignment with regulatory standards.
Prepare detailed and high-level examination reports, summarizing findings, recommendations, and required corrective measures.
Collaborate with insurance company executives and boards to address identified issues and develop improvement strategies.
Provide technical guidance and mentorship to junior and mid-level examiners.
Act as a subject matter expert in specialized areas such as actuarial science, risk modeling, or cybersecurity within the insurance sector.
Represent the agency at interagency meetings and industry conferences.
Stay abreast of legislative changes, industry trends, and emerging risks to enhance examination methodologies.