Senior Insurance Examiner - Senior Risk Focused Financial Analyst

Location: Gardiner,Maine,United States

Department of Professional and Financial Regulation (and Boards) - Bureau of Insurance/Examination Division

Job Class Code: 0364
Grade: 26 (Professional/Technical)
Salary: $54,620 - $73,756
Location: Gardiner, ME

Opening Date: April 10, 2024

Closing Date:  April 25, 2024

As a public servant within the Bureau of Insurance, the Senior Insurance Examiner will contribute to the Bureau's mission to protect Maine consumers by performing risk focused financial analysis of insurance companies. This classification is eligible for a stipend of up to 21% of the hourly rate of pay for employees who maintain either the CPA and/or the CFE designation.

 

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.
• 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.
  Reviews company compliance with applicable laws, rules, regulations and standards.
• Assesses risks of insurance related entities, including inherent risks, risk mitigation strategies, residual risk, and prospective risks in order to determine appropriate financial analysis or examination procedures.
• Evaluates complex investment portfolios in order to assess investment performance, accurate valuation, and compliance with investment laws and accounting practices and procedures.
• Oversees work of Insurance Company Examiners in order to ensure work conforms with National Association of Insurance Commissioners (NAIC) standards and Maine Bureau of Insurance standards.

Skills or knowledge required:

• Knowledge of Generally Accepted Accounting Principles (GAAP)and Statutory Accounting Principles (SAP).
• Knowledge of Maine laws, rules, regulations, policies, procedures, and guidelines applicable to the insurance industry.
• Knowledge of NAIC prescribed analysis techniques and standards.
• 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 oversee and support professional staff.
• Ability to ensure that professional staff work quality 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 Bachelor’s degree in accounting or a closely related field and at least one (1) year financial examination, auditing, or financial analysis experience -OR- six (6) year combination of education, training, and/or professional experience in accounting, examination, auditing or financial analysis. 

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, (207) 624-8452 or 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, Aug