Audits Manager II
State of South Carolina
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Benefits offered by this job
Job summary
The State of South Carolina Department of Insurance seeks a senior professional to supervise financial examiners conducting examinations of domestic insurers and HMOs. You will ensure risk-focused processes, NAIC standards, and thorough documentation while guiding technical regulatory analyses.
Travel may be required; a Bachelor's in accounting/finance, 10 years of experience, and a valid CFE credential are required.
Qualifications
- Bachelor’s degree with multiple accounting, mathematics and/or finance courses.
- Minimum of ten (10) years’ experience in insurance company examination.
- Must hold and maintain current Certified Financial Examiner (CFE) credential.
Responsibilities
- Trains and provides oversight and supervision of financial examiners who examine the financial condition of domestic insurers and HMOs.
- Acts as reviewer of the work performed by examiners and ensures that all examination work follows the Risk-Focused Examination approach.
- Prepares and provides detailed written examination work plans in a timely manner and ensures work papers are complete.
- Ensures examinations and files meet NAIC examination and accreditation standards.
- Provides input on technical matters pertaining to financial regulation and solvency.
- Confers with company representatives and agency personnel regarding examination results and regulatory actions as needed.
- Ensures communication from examiners to financial analysts meets NAIC standards.
- Assists with development and maintenance of internal guidelines and best practices for examinations.
- Interprets state laws/regulations and NAIC guidelines.
- Other duties as assigned.
Skills
Education
Job description
The mission of the State of South Carolina Department of Insurance is to protect the insurance consumers, the public interest, and the insurance marketplace by ensuring the solvency of insurers; by enforcing and implementing the insurance laws of the State; and by regulating the insurance industry in an efficient, courteous, responsive, fair, and equitable manner. For more information about working at the SC Department of Insurance, please visit Department of Insurance, SC - Official Website | Official Website
Under the direction of the Deputy Director, Financial Regulation & Solvency or his designee, and under the technical supervision of the Chief Financial Examiner, supervises examiners in the conduct of financial examinations of domestic insurers and HMOs in accordance with the statutes and regulations of South Carolina and the National Association of Insurance Commissioners (NAIC) Financial Condition Examiners Handbook, statutory accounting principles (SAP) or generally accepted accounting principles (GAAP), where appropriate under applicable law, and other applicable guidance.
1. Trains and provides oversight and supervision of financial examiners who examine the financial condition of domestic insurers in accordance with the NAIC Financial Condition Examiners Handbook and NAIC accreditation standards. Supervises more than one examination of multi-state insurers concurrently.
2. Acts as reviewer of the work performed by examiners and ensures that all examination work is an appropriate execution of the Risk-Focused Examination approach.
3. Prepares and provides detailed written examination work plans in a timely manner and that examination work papers and files are detailed and thoroughly documented. Reviews examination work papers to ensure completeness.
4. Ensures that examinations and files meet NAIC examination and accreditation standards throughout all phases of the examination.
5. Provides input and advice to examiners and, as required, other Department personnel on technical matters pertaining to financial regulation and solvency.
6. Confers with company representatives and fellow agency employees regarding examination results and assists in development of appropriate regulatory action where needed.
7. Ensures that communication from examiners to financial analysts, including initial planning meetings, regular periodic updates and summary review memoranda (SRM) meets or exceeds NAIC examination and accreditation standards.
8. Assists with development and maintenance of internal written guidelines and standards and best practices for the conduct of financial examinations.
9. Interprets state and laws and regulations and NAIC guidelines.
10. Other duties as assigned.
Bachelor’s degree with multiple accounting, mathematics and/or finance courses and professional experience in accounting, auditing, finance, insurance, business administration or taxation. Also, a minimum of ten (10) years’ experience in insurance company examination. Must hold and maintain current Certified Financial Examiner (CFE) credential. At least 18 hours of accounting strongly preferred
Employee’s duties and training may require some travel, both in-state and out-of-state.
Applicants indicating college credit or degree(s) on the application will be required to submit a sealed, certified copy of the transcript(s) prior to beginning employment. Failure to produce an official, certified transcript will result in any conditional offer of employment being rescinded.
It is the policy of the South Carolina Department of Insurance to provide equal employment opportunities to all job applicants and employees without regard to their race, color, religion, national origin, sex (including, but not limited to, pregnancy, childbirth or related medical conditions and lactation), disability or age.
South Carolina is making our Veterans a priority for employment in state agencies and institutions.
- Health, Dental, Vision, Long Term Disability, and Life Insurance for Employee, Spouse, and Children
- 15 days annual (vacation) leave per year
- 15 days sick leave per year
- 13 paid holidays
- State Retirement Plan (pension plan option) and Deferred Compensation Programs
- Employee Assistance Program
- Free counseling sessions for employees and household members
- Free legal counseling
- Free financial counseling
- Flexible Work Schedules
- Compressed work weeks
- Part-time telecommuting
- Flex-time
- Contingent upon completing required probationary period
- Free Gym Access
- Growth Opportunities
- Certifications/designation program allowing for salary increases and bonuses
- Infants at Work Program
- Employees eligible to bring their newborn/infant to the workplace
- Free Parking
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