Insurance Company Examiner I
State of North Carolina
 Raleigh, NC

Description of Work

Salary Grade: GN13

Recruitment Range: $48,051 - $60,000

Mission of the Department of Insurance:

To promote a stable insurance market through unbiased regulation and to protect the lives and property of every citizen in all 100 counties while fostering superior, user-friendly service, courtesy and respect.

Description of Work:

This financial analyst position, which is part of the Captive Insurance Companies Division, will conduct financial analysis of North Carolina domestic risk retention groups (“RRG“) and RRG license applicants, utilizing the latest automated financial analysis systems and procedures

intended to safeguard the financial solvency of these companies. The position will evaluate applications to determine if RRG or captive manager applicants meet the requirements for approval or licensing, and upon completion of each evaluation, this position will recommend appropriate North Carolina Department of Insurance (“Department“) action. The position will also conduct financial analysis of licensed RRGs to determine if they are compliant with applicable laws, regulations, procedures, and accounting practices required by this State. This position will render an opinion on the financial health of each assigned RRG, recommend any appropriate corrective actions, evaluate RRG proposals such as material business plans changes, dividend payments, and loans to or investment in affiliates, which require the approval of the Commissioner. During peak work periods, the position will also assist in the Division's responsibilities relative to financial analysis of non-RRG applicants and captive insurers.The position will interact with people at all levels of experience within the captive insurer industry as well as within this Department. This interaction will include attendance at captive insurer conferences and events where public speaking may be required. The work is guided by state laws and regulations, Departmental policies and procedures, and guidance provided by the

National Association of Insurance Commissioners. Some work over 40 hours and minimum travel will be required.

Positions in this class perform professional analysis/examination work responsible for monitoring and regulating the operations and financial condition of all proposed and authorized regulated entities, for compliance with the solvency laws of North Carolina. Work involves independently analyzing and/or examining financial statements, mergers, acquisitions, independent auditor reports, actuarial reports, business plans, operations and systems. Employees interact with Department management and lower and mid-level staff of regulated entities. The position documents findings and makes recommendations on necessary and appropriate actions based on pre-established guidelines and State law.

Knowledge, Skills and Abilities / Competencies

Qualified applicants must submit an application that clearly reflects experience that demonstrates the following:

  • Previous work experience conducting financial audits or performing closely related accounting responsibilities.
  • Knowledge of accepted accounting principles, statutory accounting principles, financial analysis procedures, and generally accepted auditing standards.
  • Knowledge of financial statements, financial ratios and journal entries on financial statement components.
  • Demonstrated experience to apply accounting knowledge,developing recommendations and conclusions.
  • Demonstrated experience documenting facts, findings, conclusions, and making recommendations.
  • Demonstrated experience to communicate effectively both verbally and in writing.

SPECIAL REQUIREMENT:

The appropriate courses in accounting as defined in 21 NCAC 8A.0309 and other courses required to qualify as a candidate for the uniform certified public accountant examination is required (based on the examination requirements in effect at the time of graduation).

Therefore, applicants are asked to attach a copy of their current transcript.

Minimum Education and Experience Requirements

Bachelor's degree from an appropriately accredited college or university, with the appropriate courses in accounting as defined in 21 NCAC 8A.0309 and other courses required to qualify as a candidate for the uniform certified public accountant examination, based on the examination requirements in effect at the time of graduation;

And two years of experience in auditing insurance company operations or closely related accounting or auditing work;

Or, an equivalent combination of education and experience.

MANAGEMENT PREFERENCE:

Management prefers applicants who possess the following:

  • CPA OR CFE designation (or demonstration that applicant is actively working towards one of those designations)
  • Exceptional verbal and written communication skills
  • Ability to speak publicly with at various captive insurance industry events
  • Working knowledge of Microsoft Office Software

Supplemental and Contact Information

If multiple applications are submitted to an individual posting, only the most recent application received prior to the posting close date will be evaluated for the consideration. Applications for positions requiring specific coursework must be accompanied by a copy of the applicant's transcript.

Academic Degrees must be from appropriately accredited institutions and will be verified. If you are selected for a position at DOI/IC, your academic credentials will be verified.

To receive credit for your work history and credentials, you must list the information on the State Application. Any information omitted from your application cannot be considered for qualifying credit.

The Department of Insurance/Industrial Commission will conduct criminal history checks of all job applicants recommended for employment. Failure to accurately acknowledge information on criminal convictions on the state application form will be grounds for non-consideration of applications, disciplinary action, and possible criminal prosecution.

The Department of Insurance/Industrial Commission uses the merit-based recruitment and selection plan to fill positions subject to the State Personnel Act with the most qualified individuals.

  • INCLUDE ALL RELEVANT EDUCATION, WORK EXPERIENCE IN THE DESIGNATED EDUCATION AND WORK HISTORY SECTION ON THE FORMAL APPLICATION*
  • Applications with “see attached“ or resumes in lieu of completed education and work experience on the formal application will be deemed incomplete and will not be eligible for consideration for the vacancy*

Applicants requesting and receiving an accommodation under the Americans with Disabilities Act (ADA) are eligible to submit paper applications via mail or by fax.

Applicants seeking Veteran's Preference under N.C.G.S .126 must submit a DD Form 214, Certificate of Release or Discharge from Active Duty. This information may be attached to the online application or be faxed on or before the closing date.

Applicants may check the status of their application for a vacancy at any time by logging in to the government jobs system using the above link. Once the applicant has logged in, the status of each submitted application is documented next to each vacancy for which he/she has applied.

Tonya McLamb, HR Technician

NC Department of Insurance

Human Resources Office

Phone: (919) 807-6051