Insurance Company Examiner - Insurance Company Financial Analyst

Location: Gardiner,Maine,United States

Department of Professional and Financial Regulation (and Boards) - Bureau of Insurance/Financial Analysis Division
Job Class Code: 0366
Grade: 22 (Professional/Technical)
Salary: $27.07 - $31.65 (Hourly)
Location: Gardiner, ME
Opening Date: October 29, 2024
Closing Date:  November 12, 2024

As a public servant within the Bureau of Insurance, the Insurance Company Examiner will contribute to the Bureau's mission to protect Maine consumers by performing risk focused financial examinations of insurance companies. Up to a 21% stipend for employees who maintain CPA or CFE designations. 

Primary responsibilities include:  

• Examines and analyzes assets and liabilities, surplus and other funds, statements of income, cash flow, as well as supporting exhibits, schedules, and notes to the financial statements of insurance companies using NAIC prescribed analysis techniques and standards.
• Analyzes various statutory filings such as the Management Discussion & Analysis, Statement of Actuarial Opinion, Corporate Governance Annual Disclosure, Group Capital Calculation filing and Risk-Based Capital Reports using NAIC prescribed analysis techniques and standards.
• Reviews company compliance with applicable laws, rules, regulations and standards, including Statutory Accounting Practices.
• Assesses risks of insurance related entities, including inherent risks, risk mitigation strategies, residual risk, and prospective risks in order to determine appropriate financial analysis procedures.
• Evaluates investment portfolios to assess investment performance, accurate valuation, and compliance with investment laws and Statutory Accounting Practices.
• Assesses financial stability in order to identify areas of concern or strength for incorporation in financial analysis documentation.

Skills or knowledge required:

• Knowledge of Generally Accepted Accounting Principles (GAAP).
• Knowledge of proper business management procedures.
• Ability to prepare clear and comprehensive analysis documentation.
• Ability to analyze accounts, records, and documents for irregularities.
• Ability to analyze financial statements.
• Ability to produce high quality work that meets or exceeds NAIC standards.
• Ability to establish and maintain effective working relationships.
• Ability to communicate clearly and effectively, both in writing and verbally.
• Ability to use applicable computer programs.

Minimum qualifications:

A Bachelors Degree in Accounting or closely related field -OR- an acceptable four (4) year equivalent combination of education, training, and experience. 

Preference will be given to those applicants:

Accredited Financial Examiner or Certified Financial Examiner designation is preferred. 

Contact information:

Questions about this position should be directed to Vanessa Sullivan at 207-624-8452 at vanessa.j.sullivan@maine.gov.

Application Instructions:

Interested applicants need to apply online by selecting the "Apply for this opening" button along with uploading a cover letter, current resume, and copies of any transcripts or certifications you wish to have considered while evaluating your application.  In order for us to properly determine if you meet the minimum qualifications for any posting, you must be sure your resume includes month and year for any experience listed along with the duties and responsibilities associated with each particular time period.  Any experience that was not full-time employment should be identified as such. 

If you require a paper application, please download and print one here https://www.maine.gov/bhr/state-jobs/application-process or contact our office at 207-623-6700.  Paper applications for this posting should be submitted along with cover letter and resume before the closing date to Security & Employment Service Center, 45 Commerce Drive, Augusta, ME  04330 or faxed to 207-287-2018.  Be sure title of the job you are applying for is included.  Applications cannot be accepted after the posting closing date.  

Benefits of working for the State of Maine:

No matter where you work across Maine state government, you find employees who embody our state motto—"Dirigo" or "I lead"—as they provide essential services to Mainers every day. We believe in supporting our workforce's health and wellbeing with a valuable total compensation package, including:

• Work-Life Fit – Rest