Investigator (Rate/Financial Analyst II) - DORA: DOI Hybrid

State of Colorado•Denver, CO

3d•Hybrid

About The Position

The Colorado Division of Insurance (DOI) regulates the insurance industry in Colorado. DOI helps consumers by answering their questions, investigating their complaints, and helping them to understand their insurance. The division regulates and monitors insurance companies in Colorado, as well as insurance agents, ensuring all are following the law. The Producer Licensing and Enforcement work unit ensures that regulated entities and individuals comply with Colorado insurance producer laws and regulations. The enforcement section investigates allegations of insurance producer misconduct and complaints about unlicensed insurance activity, reviews insurance producer license applications that require investigative scrutiny, initiates enforcement actions as needed, and refers applicable matters to law enforcement and other agencies. The licensing section reviews insurance producer license applications, manages the license examination, pre-licensing education, and continuing education programs, and oversees the licensing vendor. This work unit educates and informs consumers, other regulators, law enforcement, legislators, stakeholder groups, and the insurance industry about producer licensing and enforcement matters. Additionally, it researches, reviews, updates, and promulgates regulations and bulletins relevant to insurance producer licensing and enforcement. This position investigates allegations of insurance producer misconduct and complaints about unlicensed insurance activity, reviews insurance producer license applications that require investigative scrutiny, initiates enforcement actions as appropriate, and refers applicable matters to law enforcement and other agencies. This position educates and informs consumers, other regulators, law enforcement, legislators, stakeholder groups, and the insurance industry about producer licensing and enforcement matters. Additionally, this position researches, reviews, updates, and promulgates regulations and bulletins relevant to insurance producer licensing and enforcement.

Requirements

Six (6) years of relevant full-time professional experience in at least one (1) of the following three (3) areas: Auditing, investigative, or compliance experience with violations of the insurance or financial statutes and regulations and/or insurance claims complaints in the insurance industry; Experience working in a compliance or regulatory risk unit, including identifying trends or patterns that lead to the discovery of problematic activity; Conducting audits of financial records, establishing rates, handling claims, and policy services (involving interpreting and answering in-depth questions on policy provisions).
Associate’s Degree and Four (4) years of relevant full-time professional experience in at least one (1) of the following three (3) areas: Auditing, investigative, or compliance experience with violations of the insurance or financial statutes and regulations and/or insurance claims complaints in the insurance industry; Experience working in a compliance or regulatory risk unit, including identifying trends or patterns that lead to the discovery of problematic activity; Conducting audits of financial records, establishing rates, handling claims, and policy services (involving interpreting and answering in-depth questions on policy provisions).
Bachelor’s Degree and Two (2) years of relevant full-time professional experience in at least one (1) of the following three (3) areas: Auditing, investigative, or compliance experience with violations of the insurance or financial statutes and regulations and/or insurance claims complaints in the insurance industry; Experience working in a compliance or regulatory risk unit, including identifying trends or patterns that lead to the discovery of problematic activity; Conducting audits of financial records, establishing rates, handling claims, and policy services (involving interpreting and answering in-depth questions on policy provisions).
Certification, registration, or licensure related to the work assigned, including certification as a Certified Internal Auditor (CIA) or a Certified Fraud Examiner (CFE) will count for one (1) year of the requirement.
Demonstrated written communication skills, including the ability to convey information to various stakeholders in a clear, accurate, and concise written manner
Demonstrated verbal communication skills, including the ability to effectively convey information to audiences in a concise manner
Demonstrated attention to detail
Demonstrated critical thinking and analytical skills, including having the ability to evaluate information in order to apply knowledge and to decide on the most appropriate course of action
Demonstrated research skills, including the ability to problem-solve complex matters
Demonstrated interpersonal skills, including the ability to collaborate with various stakeholders and work as part of a team
Demonstrated organizational skills, including the ability to manage shifting priorities
Demonstrated prioritization skills, including planning, organizing tasks, and managing work assignments
Demonstrated time management skills, including the ability to multi-task to effectively manage competing and constantly changing priorities in order to meet tight deadlines
Demonstrated ability to understand and abide by workplace principles, practices and behaviors as internally identified and defined by the division and department
Demonstrated ability to read, understand, interpret, apply, and explain laws, rules, policies, and procedures
Sound judgment and the confidence to make decisions on a routine basis
Ability to travel independently, including work in-office, as required by business needs and scheduled by the supervisor
Integrity and high ethical standards
Accountability, reliability, including attendance
Ability to maintain confidential, controversial, or sensitive information
Self-starter, including the ability to work independently, learn new processes, utilize own knowledge and that of supervisor, and complete work with minimal supervision
Demonstrated professional demeanor
Knowledge and understanding in the use of PC software applications including Microsoft Office (Access, Word, Excel, etc.), and Google Suite (Doc’s, Sheets, Slides, Calendar, etc)

Nice To Haves

Demonstrated experience working in a government position investigating matters of administrative, civil, or insurance law and/or regulations
Demonstrated experience performing financial analysis in situations involving the misappropriation of funds
Demonstrated professional experience analyzing and interpreting Colorado insurance statutes, regulations, bulletins, and the National Association of Insurance Commissioners (NAIC)
Demonstrated professional experience utilizing investigative databases
Demonstrated professional experience coordinating and corresponding with insurance industry representatives and stakeholders
Demonstrated professional experience gathering information and researching regulations and/or laws to inform decisions

Responsibilities

Investigating allegations of insurance producer misconduct and complaints about unlicensed insurance activity
Researching, reviewing, updating, and promulgating regulations and bulletins relevant to insurance producer licensing and enforcement
Responding timely and accurately to time-sensitive information requests in accordance with Colorado’s open records laws and maintaining awareness of legal and regulatory changes
Training other Division staff on insurance producer licensing and enforcement matters
Recommending that an administrative enforcement action be taken against a licensee, completing a request for a legal services form that requires multiple levels of management approval
Answering questions received from consumers, industry, and the general public concerning compliance with Colorado insurance producer laws and regulations, including responding to open-records requests

Benefits

Employer-sponsored RTD EcoPass
Flexible schedules
Training and professional development opportunities
Employee wellness programs
Colorado State Employee Assistance Program (CSEAP)
Bike-to-work programs, including access to storage lockers and bike racks
Flexible retirement benefits, including a choice of the PERA Defined Benefit Plan or the PERA Defined Contribution Plan, plus optional 401K and 457 plans
Medical and Dental Health Insurance for employees and optional coverage for their dependents
Life Insurance for employees, and optional coverage for their dependents
Paid Time Off, including 11 paid holidays
Short- and long-term disability coverage
Tuition assistance program