Senior Financial Analyst

Insurance • Wake County, NC

4h • Hybrid

About The Position

The mission of the North Carolina Department of Insurance is to promote a stable insurance market through unbiased regulation and to protect the lives and property of every citizen in all 100 counties while fostering superior, user-friendly service, courtesy, and respect. Our agency licenses insurance agents, adjusters, bail bondsmen and more, along with investigating fraud matters involving insurance consumers and any entity or individual regulated by the Department. In an ever-changing environment, it is the vision of the Department of Insurance to maintain the stabilization of the insurance industry in order to provide more products, competitive prices and consumer protection.
This position currently qualifies for a hybrid telework option with routine office and remote workday. The NC Department of Insurance trusts our employees to be self-motivated and successful in hybrid/remote roles. Telework options are subject to change at the discretion of management.
The North Carolina Department of Insurance's mission is to promote a stable insurance market through unbiased regulation and to protect the lives and property of every citizen in all 100 counties while fostering superior, user-friendly service, courtesy, and respect.
North Carolina Department of Insurance offers rewarding careers in a number of different fields that helps us protect consumers and regulate the insurance industry in North Carolina. But that’s not all that we do! NCDOI also investigates insurance fraud. We set standards for and inspect fire stations, regulate engineering codes and work with building inspectors in every corner of North Carolina. If you’re interested in a career that will help make North Carolina a safer and better place to live while working with some of the best professionals in the industry, apply today!
This is a key position working in the Financial Analysis Division. The Financial Analysis Division is primarily responsible for the continuous monitoring, through financial analysis, of all insurers authorized to transact business in North Carolina. Upon the identification of issues, the Division is responsible for taking timely and appropriate action to protect the interests of North Carolina insurance consumers. The primary purpose of this position is to conduct financial reviews of insurance companies domiciled and/or licensed in the State of North Carolina. The position will determine if insurers are maintaining compliance with applicable laws, regulations, procedures, and statutory accounting practices required by this State. The position will have the opportunity to interact with people at all levels within the insurance companies as well as within this Department. The work is guided by State laws and regulations, Departmental policies and procedures, and guidance provided by the National Association of Insurance Commissioners. The position has direct supervision of two employees. This position will be responsible for coordinating the work of other analysts, including directing and training staff, conducting second level reviews of analyses, evaluating courses of action recommended by staff, and reporting on current activities each month. This position also renders an opinion on the financial health of each assigned company; recommends any appropriate corrective actions; and evaluates company proposals such as changes of control, mergers, re-domestications, business plans, reinsurance transactions, and other material changes in operations, which require the approval of the Commissioner.

Requirements

• Bachelor's degree from an appropriately accredited college or university, with the appropriate courses in accounting as defined in 21 NCAC 8A.0309 and other courses required to qualify as a candidate for the uniform certified public accountant examination, based on the examination requirements in effect at the time of graduation and two years of experience in auditing insurance company operations or closely related accounting or auditing work; or an equivalent combination of training and experience.

Nice To Haves

• Demonstrated experience conducting and/or supervising financial analysis and financial risk assessment, financial statement audits, financial statement preparation, or closely related accounting work, including the ability to identify areas of concern and document facts, findings, conclusions and recommendations.
• Considerable knowledge of the insurance industry; generally accepted accounting principles; statutory accounting principles; financial analysis procedures and guidelines; and State laws and regulations.
• Ability to apply knowledge independently, as well as to provide guidance and direction to others, serving as a technical resource.
• Ability to manage time effectively, ensuring projects are completed in a timely manner, and effectively oversee work performed by others.
• Excellent decision-making skills, including the ability to be decisive in formulating and executing those skills, and excellent communication skills, both verbal and written.

Responsibilities

• Coordinating the work of other analysts, including directing and training staff
• Conducting second level reviews of analyses
• Evaluating courses of action recommended by staff
• Reporting on current activities each month
• Rendering an opinion on the financial health of each assigned company
• Recommending any appropriate corrective actions
• Evaluating company proposals such as changes of control, mergers, re-domestications, business plans, reinsurance transactions, and other material changes in operations, which require the approval of the Commissioner.

Benefits

• 12 Annual paid Holidays
• North Carolina State Health Plan administered by AETNA
• Supplemental Benefits including: Flexible Spending Accounts, Accident Insurance, Cancer & Specified Disease, Critical Illness, Dental and Vision
• NC State Retirement (TSERS)
• WeSave Employee Discounts

What This Job Offers

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