Captive Analyst

Job Posting Title

Captive Analyst

Agency

385 OKLAHOMA INSURANCE DEPARTMENT

Supervisory Organization

Insurance Department

Job Posting End Date (Continuous if Blank)

Note: Applications will be accepted until 11:59 PM on the day prior to the posting end date above.

Estimated Appointment End Date (Continuous if Blank)

Full/Part-Time

Full time

Job Type

Regular

Compensation

Salary $60,000

Job Description

DEFINITION

Under administrative direction of the Captive Director, regulate compliance of captive insurance companies, and review new applications from entities seeking to conduct insurance-related business as a Captive Insurance Company domiciled in the State of Oklahoma. Participate in the review of financial statements of captive insurance companies ensuring that they comply with the Oklahoma Captive Insurance Company Act and Oklahoma Captive Insurance rules and regulations, to ensure financial solvency & liquidity.

JOB DUTIES

• Annual review of filings of captive insurance companies, reviewing filings for financial solvency, liquidity, stability, and compliance with the Oklahoma Captive Insurance Company Act.
• Process the approval/denial of forms or renewals 
• Review initial application, admission documents, and financial reports; review submissions to verify accuracy and compliance with statutes; produce recommendation to accept or deny the application
• Process administrative changes for insurance companies, financial reports, and make recommendations for acceptance or denial for Certificate of Authority for the State of Oklahoma
• Maintain current electronic files, update contacts, distributing mail, and posting checks
• Review service provider applications & produce recommendation to accept or deny the application
• Field phone calls regarding questions; regulation, application/registration requirements, and good standing of regulated entities. Serve as back-up in answering the phone
• Handle both oral and written correspondence for Oklahoma domiciled captive insurers
• Keep continuing education updated, attending Captive webinars and specific captive training.  Attend other insurance related training and updates
• Attend and promote Oklahoma’s Captive division at captive conferences as needed
• Perform related work and special projects as required or assigned by Captive Director/Coordinator

Knowledge, Skills and ABILITIES

• Knowledge of insurance accounting, including statutory accounting principles as well as generally accepted accounting principles and applicable state statutes preferred
• Proficiency in Microsoft Office, specifically Excel, Word and Outlook
• Ability to understand statutes, policies and procedures and apply them to conduct the business of the Department
• Ability to develop and maintain good effective working relationships both internally & externally.
• Good time management skills with the ability to work independently
• Demonstrated responsiveness and an effective communicator, with a strong interpersonal and communication skills, both verbally and written.

• Strong organizational and time management skills

Education and Experience

Captive Analyst I - Bachelor’s degree in accounting, business, finance, or related field is desired. Or an equivalent combination of education and experience, substituting one year of qualifying experience for each year of college education. Preference will be given to applicants holding at least one of the following designations:  ACI, CCI, CPA, CFE, AFE, CIE, AIE, FLMI or CPCU.

NOTE: The selected applicant must pass a background check. Individual may be required to pursue ICCIE or NAIC designations as job duties require. Upon hire, any applicant who is licensed as a producer/agent, adjuster or is otherwise affiliated with any entity that is regulated by the department must surrender their license and terminate any financial or non-financial affiliation with the entity that is regulated by the department.

TELEWORK:

This position may be eligible for telework each week under OID’s Telework Program after initial training.

Employees of the Oklahoma Insurance Department are unclassified employees of the state.  For benefits offered by the State of Oklahoma to employees of the state, please use this link to access the Office of Personnel Management benefits page at http://www.ok.gov/opm/HR_and_Employee_Services/index.html. EEO/AA