Insurance Regulatory Auditor

Work for Indiana

Begin a fulfilling career with the State of Indiana by joining one of the largest employers in the state, offering a range of opportunities across 60+ agencies. At the state, you'll find competitive compensation, a robust benefits package and a commitment to work-life balance. Most importantly, you'll have the chance to make a real and measurable impact on the lives of Hoosiers across Indiana.

The purpose of the Indiana Department of Insurance is to protect Hoosiers as they purchase and use insurance products to keep their assets and their families from loss or harm. Consumers may need assistance with certain claim situations or just help in understanding how their policies work. Our other primary obligation is to monitor the financial solvency of the insurance companies domiciled in Indiana so that the legal promises made in insurance policies are honored.

To these ends, our Department staff is committed to providing exceptional customer service for both our consumers and our companies, and to maintain a fair and objective viewpoint as we examine each issue and circumstance within our jurisdiction.

The salary for this position traditionally starts at $59,800.00 but may be commensurate with education or work experience.

The essential functions of this role are as follows:

• Perform risk analysis of the annual statement, quarterly statements, and all other supplemental filings made by Indiana domestic insurers in accordance with National Association of Insurance Commissioners “NAIC” standards.
• Summarize and document results of analysis and assessment of risks based on information reviewed as well as communications with the insurer and other regulators
• Correspond with insurance company executives, internal department staff, and other state, federal, or international regulators to investigate issues identified, evaluate company responses, and propose additional regulatory actions if warranted
• Research, investigate, and determine if company is compliant with state laws, rules, regulations and NAIC standards and guidelines
• Obtain, review, and analyze information from other sources relevant to the current and prospective financial solvency of insurers and/or groups
• Perform an appropriate level or depth of review of the risk analysis and document the risk analysis findings within the NAIC standards.
• Perform an appropriate level or depth of the review of insurance company affiliated transactions promptly.
• Make recommendations regarding proposed solutions to problems, actions necessary to address outstanding issues, and actions necessary to address troubled insurance companies.
• Promptly communicate material adverse findings and/or relevant information to the appropriate person(s).
• Review changes to Certificate of Authority including but not limited to new formations, adding, or deleting lines of business, withdrawal, merger, acquisition, etc.
• Prepare and present various reports or gather specific information requested by the Manager, Chief Examiner, or Commissioner.

The job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. Other duties, responsibilities and activities may change or be assigned at any time.

This position is exempt from overtime compensation for additional work hours which may be required to complete essential functions or other assigned work. Exempt employees may work more than 75 hours in a pay period without additional compensation and must report a minimum of 75 hours per pay period of work hours and/or paid leave taken to receive their base biweekly salary.

The ideal candidate in this role should have:

• Bachelor’s degree in accounting from an accredited college or university.

Related certifications and coursework may be considered for education or experience.

• Basic to intermediate knowledge of the theories, principles, and practices of public accounting and statutory accounting.
• Basic to intermediate knowledge of federal and state laws, policies, and procedures as they pertain to…