Insurance Licensing Examiner

Government of the Virgin Islands

3d • Hybrid

About The Position

Under the general supervision of the Chief Insurance Licensing Examiner or a higher-level officer, the Insurance Licensing Examiner is responsible for reviewing and analyzing applications for the licensing of insurance companies, insurance-related businesses, banks, and small loan companies within the Division of Banking, Insurance, and Financial Regulation. Work is reviewed for adherence to established regulations and procedures. This position is primarily responsible for reviewing and analyzing applications for licensure, and issuing licenses and certificates of authority to individuals and entities under the Division's purview, including banks, insurance companies and producers, adjusters, premium finance companies, air ambulance services and representatives, debt management services providers, small loan companies, mortgage lenders and brokers, money transmitters, non-bank ATMs, and Third-Party Administrators.

Requirements

• Bachelor's degree in Business Administration, Finance or a closely related field, with a minimum of six (6) credits in accounting.
• OR High School Diploma or its equivalent from an accredited institution and four (4) years of administrative experience.
• Knowledge of banking and/or insurance practices, procedures and laws.
• Knowledge in the areas of banking, insurance, securities and/or other financial services.
• Knowledge of basic financial information.
• Skill with Microsoft Office programs, e.g. Word and Excel.
• Ability to understand and apply legislation, rules, and regulations as they relate to the insurance, banking, and financial services industries.
• Ability to prepare clear and concise written reports.
• Ability to communicate professionally with all individuals contacted during work.
• Ability to communicate effectively, both orally and in writing.
• Ability to interpret basic financial information in a company’s financial statement. e.g. calculating the company’s net worth.
• Possession of a valid Virgin Islands driver’s license.

Responsibilities

• Accepts, reviews and processes applications for new and renewal licenses for insurance companies, resident and nonresident insurance producers, solicitors, adjusters, Third Party Administrators and premium finance companies, air ambulance services and representatives, debt management services providers, and other financial services entities.
• Examines and reviews files of licensees to ensure compliance with statutory licensing requirements.
• Reviews annual statements and other financial documents of insurance companies and other financial services entities to determine compliance with statutory capital and surplus requirements for license renewal.
• Conducts field inspections of places of business for appropriate licensees to ensure compliance with the insurance laws.
• Administers and corrects insurance licensing examinations.
• Responds to requests for letters of good standing, verifications and any other requests for information concerning licensed insurance companies, insurance related businesses, banks, small loan companies and other financial services entities.
• Performs other related duties as required.

What This Job Offers

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