Financial Examiner/Analyst

About the Organization:

The Division of Insurance ("DOI"), an Agency within the Office of Consumer Affairs and Business Regulation, administers the Commonwealth’s insurance consumer protection laws through its regulation of the insurance industry. The primary mission of the Division is to monitor the solvency of its licensees in order to promote a healthy, responsive and willing marketplace for consumers who purchase insurance products. The Division also investigates and responds to consumer inquiries and complaints, enforces state insurance laws and regulations, and provides the public with accurate and unbiased insurance information. An important aspect of the Division’s work is ensuring that the individuals and business entities conducting the business of insurance in Massachusetts do so in a legal and timely manner. 

The Division of Insurance is committed to creating and sustaining a work culture that is welcoming, inclusive, and mutually respectful to all its employees regardless of race, color, age, creed, religion, national origin, ethnicity, sex, gender identity or expression, sexual orientation, genetic information, veteran or disability status. We strive to reflect diversity in all facets and levels of our agency. The Division of Insurance values inclusiveness and diversity within their employee and management teams. Within our community we strive to create and maintain working and learning environments that are inclusive, equitable, and welcoming. 

The Division of Insurance is committed to ensuring a diverse and inclusive workplace where all employees feel respected, valued, and empowered to maximize their skills and talents to serve our citizens.

About the Role:

Participates in the financial examination of insurance entities to test for solvency and ensure compliance with the Mass. General Laws and regulations. Duties include verifying assets, liabilities, and transactions of the insurance entity by evaluating CPA workpapers, testing controls, transactions and balances, and performing the examination in accordance with the guidelines and procedures of the National Association of Insurance Commissioners Financial Condition Examiners Handbook and the NAIC Accreditation Program Manual.  Incumbent receives supervision from the Examiner-in-Charge (Insurance Examiner III) and/or Supervising Examiner of the particular examination to which he/she is assigned.

 Duties and Responsibilities:

1.     Examines the records of insurance companies by reviewing transactions and documents and assessing financial conditions in order to ensure compliance with applicable state and federal laws, rules, regulations, guidelines and procedures. This is done by:

·       Assisting the Examiner-in-Charge in making preliminary judgments of materiality;

·       Assisting the Examiner-in-Charge in setting tolerable error parameters and