Insurance Financial Regulator

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.

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 and work experience. Use our Compensation Calculator to view the total compensation package.

Candidate for this position is typically hired as an underfill and will need to meet the experience goals/time needed to learn the position before being promoted to the Insurance Financial Regulator 1.

• Determines significant solvency risks of the insurer through analysis and makes recommendations for regulatory action when appropriate.
• Examines corporate records, policies, procedures, and treatment of policyholders to determine the effectiveness of company management and compliance with the insurance code and regulations.
• Analyzes reinsurance treaties for their propriety of soundness in the spreading of risks.
• Analyzes investment transactions for the legality, valuation, and proper classification and reporting of income received and accrued.
• Analyzes, summarizes, and reviews data; reports findings, interprets results, and makes recommendations.
• Writes or drafts correspondence, reports, documents, and/or other written material.
• Ensures compliance with applicable federal and/or state laws, regulations, and/or agency rules, standards, guidelines, etc.
• Gathers documentation to support negotiated resolution of non-compliance issues.
• Conducts financial analysis and performs secondary reviews of analysis conducted by others, weighs the significant solvency risks of the insurer, and makes recommendations for regulatory action when appropriate.

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.

• Thorough knowledge of, and ability to apply, general accounting principles.
• Thorough knowledge of insurance accounting and applicable laws.
• Extensive knowledge of, and ability to apply, financial analysis practices and procedures as used in insurance analysis.
• Broad knowledge of the organization and practices of various types of insurance companies.
• Broad knowledge of, and ability to apply, provisions of the law governing insurance companies, related legal opinions and court decisions, departmental policies, rules and regulations, and insurance industry standards as established by the National Association of Insurance Commissioners (NAIC).
• Considerable knowledge of new insurance practices, trends, developments, and techniques.
• Working knowledge of business law.
• Ability to organize and plan work for oneself and others.
• Ability to gather and analyze data and reach sound conclusions.
• Ability to prepare clear, complete, and concise reports.
• Effectively communicate, both orally and in writing.

A degree is not required. However, at least 4+ years of experience applying the outlined knowledge, skills, and abilities in a similar role may be considered.

Individuals should have the ability to…