Financial Examiner Ins

This position is located in the Department of Insurance, Securities and Banking, Risk Finance Bureau (DISB). The mission of DISB is to create a protective regulatory environment, attract, and retain financial services firms, empower, and educate residents on financial matters and provide financing support for small businesses in the District of Columbia.

The incumbent is responsible for conducting surveillance analysis of Captive Insurance Companies, including Risk Retention Groups, licensed by the District of Columbia, to detect and address conditions that may lead to financial loss for the company’s policyholders.

Duties and Responsibilities

Conducts review and analyses of business plans and pro-forma financial statements submitted by captive insurers to assess the reasonableness of the business plan and ensure financial solvency of the captive insurer. Conducts financial analyses to categorize insurers for priority analysis, including on-site audits and regulatory controls.

Reviews documentation such as examination reports, ratings from AM Best, Moody's, and Standard & Poor’s, state deposit requirements, actuarial reserve opinions, independent accountant reports, and financial statements to assess the insurer's financial health. Maintains ongoing surveillance and submits recommendations for regulatory action based on these findings.

Reviews and evaluates annual and quarterly statements of licensed captive insurers and makes recommendations on new applications for licensures to do business in the District of Columbia. Conducts analyses of documentation submitted with annual and quarterly reports lo ascertain the financial condition and solvency of the captive insurer. Documentation submitted includes such records as certificates of compliance, deposit and valuation, capital and surplus balances, net income and losses.

Qualifications and Education

Undergraduate and Graduate Education
:

Major study -- finance, business administration, economics, accounting, insurance, engineering, mathematics, banking and credit, law, real estate operations, statistics, or other fields related to the position, such as agriculture, agricultural economics, farm, livestock, or ranch management, or rural sociology.

OR

Specialized experience such as performing financial analysis and evaluation work requiring a comprehensive knowledge of (1) corporate finance and any specialized fields of finance required, such as public finance, securities, international finance, money and securities markets, investments, and banking, and (2) the financial and management structure, operations, and practices of corporate and other organizations.

AND

Specialized experience must have equipped the applicant with the particular knowledge, skills, and abilities to perform successfully the duties of the position to be filled. To be creditable, one (1) year of specialized experience is equivalent to at least the next lower grade level in the normal line of progression.

Licenses and Certifications
None.

It is desired that the incumbent shall possess one or more of the following:
Certified Financial Examiner (CFE) designation from the Society of Financial Examiners (SOFE);
Certified Public Accountant (CPA) certification; or any of the NAIC professional designations (APIR
- Associate Professional in Insurance Regulation, PIR (Professional in Insurance Regulation), or SPIR (Senior Professional in Insurance Regulation)).

Working Conditions/Environment

The work is primarily sedentary, although some slight physical effort may be required. The work may involve visits to work sites, and requires periods of standing, bending, stooping, and carrying of light items.

Other Significant Facts

Tour of Duty
:
Monday
- Friday - 8:15 am to 4:45 pm
Pay Plan, Series,…