FINANCIAL EXAMINER/ANALYST SUPV-SES - 43001563

State of Florida; Tallahassee (FL); On-site; USD 65,000 - 79,000; Full time

Benefits offered by this job

Health benefits

Retirement plan

Tuition waiver

Flexible schedules

Job summary

The State of Florida, Office of Insurance Regulation in Tallahassee, seeks a Financial Examiner/Analyst Supervisor-SES to lead the Health Care Financial Oversight team.

You will supervise analysts, ensure accurate analysis of insurer filings, coordinate with executives and regulators, and drive risk-based financial oversight. Bachelor’s degree required; salary starts at $72,000.04 per year with benefits.

Qualifications

• Strong communications skills, both written and oral.
• Advanced understanding of insurance operations, risk, and management.
• Experience supervising staff analysts in a regulatory context.
• Ability to pull current financial information and summarize findings.

Responsibilities

• Supervise the Financial Analysis subdivision of the Health Care Section.
• Direct the work of two or more analysts, ensuring depth and documentation.
• Coordinate with company executives, regulators, and staff for investigations and actions.
• Review IPS/GPS updates and insurer compliance with laws and guidelines.
• Provide guidance on staffing, performance, and disciplinary actions.

Skills

Communications

Insurance knowledge

Risk management

Analytical skills

Supervisory ability

Decision making

Regulatory awareness

Education

Bachelor’s degree or higher (finance, accounting, business, risk mgmt, insurance, actuarial)

Tools

MS Word

Excel

Job description

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FINANCIAL EXAMINER/ANALYST SUPV-SES - 43001563

The State Personnel System is an E-Verify employer. For more information click on our E-Verify Website .

Requisition No:884133

Agency: Office of Insurance Regulation

Working Title: FINANCIAL EXAMINER/ANALYST SUPV-SES - 43001563

*****OPEN COMPETITIVE EMPLOYMENT OPPORTUNITY *****

OFFICE OF INSURANCE REGULATION
BUREAU: LIFE & HEALTH FINANCIAL OVERSIGHT

CITY: TALLAHASSEE

COUNTY: LEON

The Florida Office of Insurance Regulation (OIR) strives to promote a stable and competitive insurance market for consumers. With a workforce of approximately 250 staff members, OIR regulates one of the largest, most complex insurance markets in the world. OIR offers a range of challenging and rewarding opportunities for individuals looking to grow in their careers, as well as a wide variety of top insurance–related courses and professional certifications to ensure that its staff have the industry knowledge needed to succeed. OIR employees also have access to the State of Florida’s tuition waiver program, which offers educational assistance to full-time, salaried employees.

As a State Agency, OIR offers excellent benefits, including health, dental, and vision insurance; retirement plans; flexible spending accounts; health savings accounts; and more. OIR also offers annual and sick leave, a generous holiday schedule, and flexible work schedules. Click the links below to see the many benefits and retirement options you have as a State of Florida employee:

Brief Description of Duties and Responsibilities:

Supervise the Financial Analysis subdivision of the Health Care Section of the Office of Insurance Regulation:

• Manager the Financial Analysis subdivision of the Health Care Section of the Office of Insurance Regulation by directing the work of two or more full time analysts or their equivalent by supervising the quality of their analysis, including ensuring appropriate depth of review, supporting documentation, and resolution of concerns health care financial statements, contract forms, and other filings.
• Ensure that analysis performed appropriately incorporates information from company filings, internal sources, external sources, and NAIC tools.
• Ensure that analysis performed is customized to promote effectiveness and efficiency in accordance with the size, risk, and complexity of the insurer.
• Supervise the workflow of the financial analysis and contract review process, including but not limited to, ensuring that the supervisor and each analyst comply with timeliness guidelines set forth in the NAIC Accreditation Program Manuel Financial Services Contract and SMART Goals.
• Correspond with company executives, department staff, and other regulators to investigate issues identified, and evaluate whether additional regulatory actions are warranted.
• Review conclusions and supporting rationale related to an insurer’s priority level and determine if modifications are necessary.
• Review, challenge, and where applicable revise the updated Insurer Profile Summary (IPS) and/or Group Profile Summary (GPS) on a timely basis to ensure that significant risks identified, and ongoing monitoring are effectively shared with other regulators.
• Review conclusions regarding insurer compliance with state laws, rules, regulations, NAIC and Office standards and guidelines.
• Determine assignments of insurer and insurance groups among analysts and the level of oversight provided to analysts based on risks, complexity, and staff abilities.
• Coordinate work performed with other regulatory functions to avoid duplication of efforts and/or requests. Review research or perform research on complex issues including State law, State regulations, accounting standards, etc.
• Make suggestions and recommendations as to the hiring of employees, including the following: reviewing applications, determining individuals to be work sampled, interviewing and selecting candidates; preparing memos to recommend hiring.
• Maintain records, including the following: maintain employee work schedules; maintaining records regarding timelines of reviews; maintain files related to appraising the productivity and efficiency of each employee; providing and documenting feedback to analysts related to performance; and apportioning work among analysts.
• Supervisor will provide appropriate oversight to analysts that are performing poorly, including the following: creating a performance improvement plan for said employee; discipline employees for poor performance; and drafting and compiling recommendations for disciplinary actions.
• Make suggestions and recommendations as to the firing, advancement, or promotion or any other change of status of employees including drafting recommendations based on records maintained in accordance with the records, plan, and discipline noted above.
• Evaluate the performance of each employee in accordance with Office of Insurance Regulation performance review procedures.
• Instruct assigned analysts in the application of risk-focused surveillance concepts and advanced analytical skills, including:
• Encourage and direct staff to alter analysis approach and procedures based on results of work performed, information obtained, and facts/circumstances.
• Encourage and direct staff to exercise professional skepticism and utilize critical thinking in investigation issues and reviewing information provided by the insurer.
• Attend meetings with companies, analysts, and others to review and resolve problems for financial reports, investigations or audits.
• Hold conferences with company officials, accountants, attorneys, actuaries and consultants.
• Assist in the administration and formation of personnel policies in the bureau.
• Identify and encourage participation in external training opportunities (e.g. NAIC, SOFE, etc.) to develop analysis staff.
• Develop and conduct internal training as needed to supplement training provided through external sources.
• Proposed legislative changes to statutes.
• Represent the Department at public functions if directed to do so.
• Assist in any administrative matters deemed necessary by the Director or Chief.
• Perform related duties as required.
• Stay apprised of industry trends through review of business journals, industry publications, etc. to determine impact on insurers in State and continue to improve focus and execution of the financial analysis process regulatory.
• Maintain relevant designations that enhance the analyst’s ability to perform analysis and effectively monitor the ongoing solvency of insurers (e.g. CFE, PIR, CPCU, FLMI, etc.)
• Participate in training courses and identify implications for analysis including identifying need for supplemental training to be provided to own State.

Minimum Qualifications for this position include the following REQUIRED ENTRY LEVEL KNOWLEDGE, SKILLS, AND ABILITIES:

• Strong communications skills (both written and oral).
• Advanced understanding of insurance operations, risk, risk management techniques, and transaction flows.
• Advanced understanding of risks that could emerge from non-insurance operations of a group.
• Strong analytical skills with the ability to pull together current financial information and update with submitted projections and other available narrative reports (i.e., business plan, Form F, MD&A, ORSA, etc.) into the analyst’s summary write-up, which will be used as the basis for providing conclusions.
• Takes responsibility and is accountable for solvency monitoring of assigned companies.
• Objective, fair, reasonable and courteous with the ability to apply good judgements and draw sound conclusions while setting a good example.
• Ability to research and apply the applicable state laws, insurance departments’ regulations, procedures and practices, GAAP and the NAIC statutory accounting practices.
• Ability to understand and evaluate the enterprise risk management functions of insurers.
• Ability and desire to invest in staff development.
• Ability to supervise staff examiners.
• Ability to review work of others, challenge conclusions reached and provide constructive feedback.
• Ability to make decision based on reasonable and timely analysis.
• Ability to evaluate and challenge information provided by company.
• Ability to multi-task, manage multiple projects, and effectively manage time.
• Ability to adapt to changing expectations and environments.
• Proficient with MS Word, Excel, and other related tools.
• Proficient in use of electronic work paper documentation tools.

Special Notes:

Bachelor’s degree or higher from an accredited college or university with a major in accounting, finance, business, risk management and insurance, or actuarial science.

Preference will be given to the following:

• 1 year of supervisory experience
• 1 year of financial analysis, public accounting or similar experience with specialization in the insurance industry

Applicants will be required to complete an exam or work sample to evaluate their insurance knowledge and skills in reading, comprehension, and application of the Florida Statutes.

The starting annual salary for this position is $72,000.04.

Candidates requiring a reasonable accommodation, as defined by the Americans with Disabilities Act, must notify the agency hiring authority and/or People First Service Center (1-866-663-4735). Notification to the hiring authority must be made in advance to allow sufficient time to provide the accommodation.

The State of Florida supports a Drug-Free workplace. All employees are subject to reasonable suspicion drug testing in accordance with Section 112.0455, F.S., Drug-Free Workplace Act.

For assistance, call the People First Service Center at [phone] Monday - Friday, 8:00 a.m. to 6:00 p.m., Eastern time. Pursuant to Florida Law, 110.211 F. S., the State of Florida is an EEO employer.