Audits Mgr. II-Supervising Financial Analyst-Captives

Job Purpose

Under the general supervision of the Chief Financial Analyst, the Captives Supervising Financial Analyst is responsible for supervising the captive financial analysts conducting risk‑focused financial analyses on assigned insurers. This position provides input on technical matters, acts as a reviewer of the work performed by the captive
financial analysts
, ensures that captive analyst work is an appropriate execution of the risk‑focused analysis approach, and provides guidance, support, and training to captive
financial analysts
. The role may also be assigned primary responsibility for reviewing and monitoring the current financial condition and prospective financial solvency of more complex and higher priority insurance companies.

Supervise the quality of the analysis process for risk retention groups (RRGs), ensuring appropriate depth of review, supporting documentation, and resolution of concerns. Ensure that the analysis incorporates information from company filings, internal and external sources, and NAIC tools and reports, and is customized to promote effectiveness and efficiency in accordance with the size, risk, and complexity of the insurer. Manage the workflow of the analysis process, including compliance with timeliness guidelines set forth in the NAIC Accreditation Program Manual.

Correspond with company executives, department staff, and other regulators to investigate issues identified and evaluate whether additional regulatory actions are warranted. Review conclusions and supporting rationale related to an insurer's priority level and determine if modifications are necessary. Review, challenge, and where applicable, revise the updated Insurer Profile Summary (IPS) and/or Group Profile Summary (GPS) on a timely basis to ensure that significant risks identified and ongoing monitoring are effectively shared with other regulators.

Act as primary reviewer of more complex and higher priority RRGs. Obtain, review, and analyze annual and quarterly insurer financial statements and all related supplemental regulatory filings, including audited financial reports, actuarial opinions, management discussion and analysis, holding company filings, enterprise risk reports, ORSA summary reports, etc. Obtain, review, and analyze information and results presented in NAIC FAST tools, including IRIS ratios, Scoring System, Analyst Team System, and Financial Profile.

Analyze information from other relevant sources such as public news reports, rating agency reports, SEC filings, earnings calls, and releases.

Review captive analyst
's detailed financial analysis checklists for annual non‑RRG captive insurance reviews in accordance with Department procedures. Assist the Chief Financial Analyst and Business Plan Change Analyst with higher‑level and complex business plan change requests. Assist with licensing, marketing, and promotional activities for the domicile and the captive program. Attend meetings with prospective companies seeking licensure and raise awareness of South Carolina as a captive domicile.

Represent the Department at captive industry conferences and participate on the Captive Application Review Committee and Troubled Company Committee.

Coordinate work performed with other regulatory functions to avoid duplication of efforts and review research on complex issues such as state law, regulations, accounting standards, etc. Instruct assigned analysts in the application of risk‑focused surveillance concepts and advanced analytical skills. Encourage staff to alter analysis approach and procedures based on results of work performed, and to exercise professional skepticism and critical thinking when investigating issues.

Assist with special projects, attend examination meetings, and ensure the captive analyst is properly prepared to present an overview of assigned companies. Organize and maintain supervisory files efficiently, stay apprised of industry trends through business journals and industry publications, and improve the financial analysis process. Maintain relevant designations that enhance the analyst's ability to monitor solvency (e.g., CFE, PIR, CPCU, FLMI,…