Financial Analyst I

The work we do matters!

Hiring Agency:

Insurance - Agency 22

Location:

Lincoln, NE

Hiring Rate:

$24.808

Job Posting:

JR2024-00010459 Financial Analyst I (Open)

Applications No Longer Accepted On (If no date is displayed, job is posted as open until closed):

Job Description:

Insurance is a unique product in that an insurance company collects premiums upfront with the promise to pay in the future; as a result, there is strong need for financial regulations and related ongoing monitoring to ensure insurance companies remain solvent.

Our Financial Regulation Division is responsible for monitoring the financial solvency of one of the largest domestic industries in the country. As part of our financial solvency monitoring, we conduct ongoing analysis of quarterly financial statements and other statutory filings, and conduct on-site financial examinations every three to five years. We take a risk-focused approach and strive to identify financial issues early to address problems and/or rehabilitate companies prior to insolvency.

Our financial analysts are experts in monitoring the financial well-being and compliance for more than one hundred (100) insurance companies, which is a very important service to the citizens of Nebraska, as well as citizens in other states.

Please note this job is not eligible for remote work. Work is performed at our office location in Lincoln, NE.

Starting salary is $51,600.64/year. Advancement contingent upon satisfactory job performance and obtaining Society of Financial Examiners designations. Any applicants that already have an AFE (Accredited Financial Examiner) or CFE (Certified Financial Examiner) designation, salary will be adjusted to the minimum range: AFE - $60,471/annual and CFE - $77,403/annual.

Look at what we have to offer!

• 13 paid holidays
• Vacation and sick leave that begin accruing immediately
• Military leave
• 156% (that's not a typo!) state-matched retirement
• Tuition reimbursement
• Employee assistance program
• 79% employer paid health insurance plans
• Dental and vision insurance plans
• Employer-paid $20,000 life insurance policy
• Public Service Loan Forgiveness Program (PSLF) through the Federal government
• Wide variety and availability of career advancement as the largest and most diverse employer in the State
• Opportunity to be part of meaningful work and make a difference through public service
• Training and Development based on your career aspirations
• Fun, inviting teammates
• A safe and secure environment

At the State, we stand by our core values of treating others with dignity and respect, acting ethically in all situations, and creating an environment where our customer is our top priority. Apply to join our team today!

 

Job duties

Perform in-depth analysis of financial statements and supplemental filings to assess insurance company’s financial condition, to identify prospective risks and to detect possible regulatory/compliance violations.

• Review and interpret laws, regulations and statutory accounting principles as they apply to insurance companies.

• Complete work in conformance with the National Association of Insurance Commissioner’s (NAIC) timelines and best practices.

• Review independent rating agencies’ reports, SEC filings, holding company filings, current trade periodicals, news items, legislation, and NAIC tools, policies and guidelines.

• Correspond with company executives, department staff, and other regulators to discuss and evaluate compliance and whether regulatory actions are needed.

• Prepare and present summary reports and recommended actions to the Assistant Chief Examiner and other NDOI senior management as assigned.

• Organize and maintain files containing insurance company information and workpapers.

Requirements / Qualifications:

Minimum Qualifications:

Examiner I: Bachelor’s Degree from an accredited college or university in a business-related field (accounting, economics, finance, risk management, etc.) with a preference for accounting or finance courses including auditing. Accounting/auditing work experience is beneficial. In addition, applicant should have at least three hours of Business Law.

Examiner II: Bachelor’s Degree from an accredited college or university in a business-related field (accounting, economics, finance, risk management, etc.) with a preference for accounting or finance courses including auditing. Accounting/auditing work experience is beneficial. AFE Certification.

Examiner III: Bachelor’s Degree from