Insurance Certified Financial Examiner

PURPOSE OF JOB CLASS (NATURE OF WORK)

In the Insurance Department, Financial Regulation Division, this class is accountable for leading insurance examiners in performing the most complex examinations of the financial and business records of insurance companies to assess financial conditions and market conduct compliance, including responsibility for certifying the accuracy and completeness of financial audits by signature of association examinations.

• Schedules, assigns, oversees and reviews the examination assignment work of team members;
• Serves as examiner in charge of association examinations;
• Provides staff training and assistance regarding procedures and techniques;
• Assists in conducting performance evaluations;
• Assists in determining unit priorities and plans;
• Assists in establishing and maintaining unit procedures;
• Assists in the development of standards and examination procedures;
• Acts as liaison with other operating units, agencies and outside officials regarding unit policies and procedures;
• Prepares reports and correspondence;
• Supervises and coordinates insurance examination activities including auditing financial statements and holding company reports;
• Assists in determining areas to be examined;
• Oversees analysis activities and provides guidance to less experienced examiners regarding procedure and techniques;
• Participates in hearings on financial condition of insurers;
• Drafts hearing notices issued to insurers for violation of statutes and regulations;
• Recommends administrative sanctions;
• May conduct financial examinations;
• May conduct examinations of financial conditions and market conduct compliance;
• May conduct information systems and market conduct compliance audits;
• Performs related duties as required.

• Considerable knowledge of and ability to apply relevant state and federal laws, statutes and regulations, relevant agency policies and procedures, accounting and auditing principles and practices, and the organization and business practices of insurance companies;
• Considerable interpersonal skills, oral and written communication skills;
• Considerable ability to analyze and evaluate insurance company financial statements and reports by Certified Public Accountants, actuaries and consultants, and to assess market conduct;
• Ability to utilize computer software and some supervisory ability.

Eight (8) years of experience in one or more of the following areas:

• Regulatory examination of financial condition or market conduct of insurance companies;
• Accounting, auditing, automated controls reviews or actuarial work in the insurance industry.

One (1) year of the General Experience must have been in an advanced working level or consultative capacity in professional work in insurance examining, auditing or automated controls reviews. For state employees this is interpreted at the level of an Insurance Financial Examiner.

• College training in accounting, insurance, business, finance, actuarial science, economics or other closely related field may be substituted for the General Experience on the basis of fifteen (15) semester hours equaling one‑half (1/2) year of experience to a maximum of four (4) years for a Bachelor's degree.
• A Master's degree in accounting, insurance, business, finance, economics or other closely related field may be substituted for an additional year of the General Experience.
• Certification in any of the following may be substituted for one (1) additional year of the General
  
  Experience:
  
  Certified Public Accountant, Certified Information System Auditor, Certified Internal Auditor.

• Experience serving as an Examiner in Charge on examinations;
• Experience providing staff training related to financial examinations;
• Experience with written and interpersonal communication skills with stakeholders in the insurance industry;
• Experience with the risk‑focused examination process.

• Incumbents must possess at time of appointment and maintain during employment the designation of Certified Financial Examiner (CFE), Certified Information System Auditor (CISA) or Certified Public Accountant (CPA).
• Incumbents with a CISA designation must obtain and retain the designation of Automated Systems Examiner (AES) within 30 months of hire.
• Incumbents in this class may be required to travel.
• Incumbents in this class may be required to possess and retain a valid Motor Vehicle Operator’s license.

AN AFFIRMATIVE ACTION/EQUAL OPPORTUNITY EMPLOYER – The State of Connecticut is an equal opportunity/affirmative action employer and strongly encourages the applications of women, minorities, and persons with disabilities.