Insurance Financial Analyst IV

State of Delaware • Dover, DE

2d

About The Position

This position provides first-line supervision and financial analysis, requiring the highest level of technical expertise at the state, regional, and national levels. The role reports to a technical superior. The position reviews and analyzes insurer financial statements and related records, assesses financial condition and potential solvency issues, evaluates company applications and transactions, prepares reports, and may provide testimony at public hearings and in legal actions. The class description is not exhaustive; incumbents may perform other similar duties.

Requirements

• Bachelor’s degree or higher in Accounting, Finance, Business Administration, or a related field.
• Accredited Financial Examiners (AFE) certificate.
• Three years of experience in financial analysis of insurance companies to determine resulting ratios, statistical comparisons, disclosure omissions, misstatements, and other irregularities applicable to insurance operations.
• Three years of experience interpreting and analyzing financial reports.
• Three years of experience recognizing deficiencies in accounting procedures and management controls.
• Three years of experience interpreting insurance-industry laws, rules, regulations, standards, policies, and procedures.
• Coursework, training, and/or work experience in staff supervision, which may include serving as a lead worker overseeing others’ work.
• Applicants must be legally authorized to work in the United States.
• Merit-only posting: applicants must be current State of Delaware employees in a Merit System-covered position who have completed their initial probationary period.

Responsibilities

• Review and analyze annual and quarterly financial statements, trend analyses, SEC filings, audit reports, and holding-company information, including reinsurance, service, tax-allocation, and other inter-company agreements.
• Apply SAP accounting principles, practices, methods, and techniques when reviewing financial and management issues.
• Compute and interpret financial ratios to identify hazardous or potentially hazardous financial conditions.
• Research and analyze financial transactions between parent companies, affiliates, and subsidiaries.
• Research and analyze transactions involving acquisitions and mergers.
• Review licensed companies’ requests to add lines of business and defend recommendations for approval or disapproval.
• Review applications for re-domestication and applications to conduct business in Delaware, considering the financial condition of the company and/or parent company, expertise, and business size.
• Review consumer complaints to identify solvency issues or patterns of regulatory violations.
• Complete analyses for assigned companies and prepare summary reports, including NAIC questionnaires, for review by the Director and Commissioner.
• Provide testimony during public hearings and legal actions.
• Perform first-line supervision or lead-worker duties, including overseeing the work of others.

Benefits

• The posting refers applicants to the State of Delaware benefits website for information about its comprehensive benefit package; specific benefits are not listed.

What This Job Offers

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