Insurance Financial Regulator

State of Indiana•Indianapolis, IN

3d•$59,800•Onsite

About The Position

The Indiana Department of Insurance (IDOI) aims to protect Hoosiers by overseeing insurance products to safeguard their assets and families. The department assists consumers with claims and policy understanding, and monitors the financial solvency of insurance companies domiciled in Indiana to ensure policy promises are honored. IDOI staff are dedicated to providing excellent customer service to both consumers and companies, maintaining fairness and objectivity in all matters within their jurisdiction.

Requirements

Thorough knowledge of, and ability to apply, general accounting principles.
Thorough knowledge of insurance accounting and applicable laws.
Extensive knowledge of, and ability to apply, financial analysis practices and procedures as used in insurance analysis.
Broad knowledge of the organization and practices of various types of insurance companies.
Broad knowledge of, and ability to apply, provisions of the law governing insurance companies, related legal opinions and court decisions, departmental policies, rules and regulations, and insurance industry standards as established by the National Association of Insurance Commissioners (NAIC).
Considerable knowledge of new insurance practices, trends, developments, and techniques.
Working knowledge of business law.
Ability to organize and plan work for oneself and others.
Ability to gather and analyze data and reach sound conclusions.
Ability to prepare clear, complete, and concise reports.
Effectively communicate, both orally and in writing.
At least 4+ years of experience applying the outlined knowledge, skills, and abilities in a similar role may be considered.
Individuals should have the ability to perform essential functions with or without reasonable accommodation.

Nice To Haves

A degree is not required.

Responsibilities

Determines significant solvency risks of the insurer through analysis and makes recommendations for regulatory action when appropriate.
Examines corporate records, policies, procedures, and treatment of policyholders to determine the effectiveness of company management and compliance with the insurance code and regulations.
Analyzes reinsurance treaties for their propriety of soundness in the spreading of risks.
Analyzes investment transactions for the legality, valuation, and proper classification and reporting of income received and accrued.
Analyzes, summarizes, and reviews data; reports findings, interprets results, and makes recommendations.
Writes or drafts correspondence, reports, documents, and/or other written material.
Ensures compliance with applicable federal and/or state laws, regulations, and/or agency rules, standards, guidelines, etc.
Gathers documentation to support negotiated resolution of non-compliance issues.
Conducts financial analysis and performs secondary reviews of analysis conducted by others, weighs the significant solvency risks of the insurer, and makes recommendations for regulatory action when appropriate.

Benefits

Competitive compensation
Robust benefits package
Commitment to work-life balance
Three (3) medical plan options (including RX coverage) as well as vision and dental plans
Wellness Rewards Program: Complete wellness activities to earn gift card rewards
Health savings account, which includes bi-weekly state contribution
Deferred compensation 457(b) account (similar to 401(k) plan) with employer match
Two (2) fully-funded pension plan options
150 hours of paid New Parent Leave and up to eight weeks of paid Childbirth Recovery Leave for eligible mothers
Up to 15 hours of paid community service leave
Combined 180 hours of paid vacation, personal, and sick leave time off
12 paid holidays, 14 on election years
Education Reimbursement Program
Group life insurance
Referral Bonus program
Employee assistance program that allows for covered behavioral health visits
Qualified employer for the Public Service Loan Forgiveness Program
Free Parking for most positions
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