State of North Carolina Insurance Company Examiner

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* This is a repost. Previous applicants are still being considered and do not need to reapply*

Salary Recruitment Range: $45,926 - $68,495
Salary Grade: NC12

This position currently qualifies for a hybrid telework option with routine office and remote workday. The NC Department of Insurance trusts our employees to be self-motivated and successful in hybrid/remote roles. Telework options are subject to change at the discretion of management.

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.

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This Financial Analyst position, which is part of the Captive Insurance Companies Division, will conduct financial analysis of North Carolina domestic captive insurance companies ("captive insurers") and captive insurer/captive management license applicants, utilizing the latest automated financial analysis systems and procedures intended to safeguard the financial solvency of these insurance companies. The position will evaluate applications to determine if the captive insurers 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 captive insurers 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 captive insurers, recommend any appropriate corrective actions, evaluate captive insurers proposals such as material business plans changes, dividend payments, and loans to or investment in affiliates, which require the approval of the Commissioner.

The position will interact with people at all levels of experience within the captive insurer industry as well as within this Department. This interaction may include attendance at captive insurer conferences and events. The work is guided by state laws and regulations, Departmental policies and procedures, and guidance provided by the National Association of Insurance Commissioners.

Positions in this class perform professional analysis 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 financial statements, mergers, acquisitions, independent auditor reports, actuarial reports, business plans, operations and systems. Employees interact with management of regulated entities and the Department.

The position documents findings and makes recommendations on necessary and appropriate actions based on pre-established guidelines and State law.

• Document facts and findings.
• Document and develop conclusions and recommendations.
• Communicate with the general public, Department management, and lower & mid-level staff of regulated entities.
• Work with applicable information technology software.

We value our employees and offer a wide variety of competitive and family-friendly benefits. Benefits to include:

• 12 Annual paid Holidays
• North Carolina State Health Plan administered by Aetna
• Supplemental Benefits including:
  Flexible Spending Accounts, Accident Insurance, Cancer & Specified Disease, Critical Illness, Dental and Vision
• NC State Retirement (TSERS)
• WeSave Employee Discounts

Learn more about new hire resources, safety, health, and wellness information, leave options, employee discounts and more by selecting the link below:

• Basic knowledge of financial statements, financial ratios, and the impact of journal entries on financial statement components.
• Basic understanding of insurance concepts.
• Basic knowledge of generally accepted auditing standards (GAAS) and testing methods, generally accepted and statutory accounting principles (GAAP & SSAP), financial accounting concepts and theories and financial analysis procedures.
• Work experience communicating effectively in a clear and concise manner, in both oral and written form.
• Working knowledge of Microsoft Office Software.

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…