INSURANCE EXAMINER ASSOCIATE 2-UNDERFILL
State of Nevada
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Benefits offered by this job
Job summary
The Department of Business and Industry in Nevada is seeking an Insurance Examiner 1 to review insurers' accounting and financial records and determine solvency. Placement can be in Las Vegas or Carson City depending on needs.
You will respond to inquiries, publish eligible insurers, and issue orders for changes in eligibility while assisting with regulatory actions under supervision. The role emphasizes analysis, reporting, and collaboration with the Insurance Commissioner and Legal Counsel to
Qualifications
- Bachelor’s degree in accounting, business, economics, finance, information technology, insurance, mathematics, risk management, statistics, data analytics, or closely related field.
- Associate’s degree in accounting, business, economics, finance, information technology, insurance, mathematics, risk management, statistics, data analytics, or closely related field.
- Graduation from high school or equivalent education with relevant professional experience (see essential qualifications).
- Equivalent combination of education and experience as described above.
Responsibilities
- Review applications for licensure and registration of various insurer types to ensure compliance with statutory requirements.
- Review and examine accounting and financial records of insurers to assess solvency and compliance with statutes.
- Respond to inquiries from insurers, attorneys, or interested parties regarding statutes, requirements, and procedures; provide recommendations on major changes.
- Publish listings of eligible insurers and issue orders for removal or changes in eligibility; reconcile statements and premium tax remittances.
- Compare premiums reported by brokers and insurers; design filing forms and issue notices to licensees.
- Conduct financial and market conduct examinations including field audits of agents and brokers under supervision.
- Analyze trade practices in insurance and prepare examination summaries for regulatory hearings.
- Perform financial analysis of domestic insurers per NAIC standards.
Skills
Education
Job description
- No Nevada state income tax.
The Department of Business and Industry is recruiting to underfill an Insurance Examiner 1 position within the Insurance Division. This position can be filled in either Las Vegas or Carson City depending on the chosen candidate and the needs of the agency. The incumbent will review and examine the accounting and financial records of insurers to ensure solvency; conduct a comprehensive review and analysis of company information to determine its continued solvency and compliance with applicable statutes; respond to inquiries from insurance companies, attorneys, or interested parties regarding applicable statutes, State requirements and instructions, fees, specific procedures, and statistical data; research, analyze, and provide recommendations to approve or deny requests such as mergers, acquisitions, name changes, or payment of notes to the Insurance Commissioner, Chief Examiner and Legal Counsel; publish a listing of eligible surplus lines insurers for distribution; compose timely orders for voluntary or involuntary removal of insurers from eligibility; analyze and reconcile annual statements and premium tax remittances and resolve discrepancies and/or violations; and conduct financial and market conduct examinations of insurers including the field audits of agents, managing general agents, broker licensees, and third-party administrators by order of the Commissioner and under established procedures in conjunction with the statutory examination of insurers.
Bachelor's degree from an accredited college or university in accounting, business, economics, finance, information technology, insurance, mathematics, risk management, statistics, data analytics, or closely related field and one year of professional experience performing duties of an accountant, auditor, actuary, investment advisor, insurance broker, stockbroker, trust officer, financial or market examiner, financial or market regulator, employee benefit advisor, health benefit advisor, insurance advisor, retirement analyst, or closely related field; OR Associate's degree from an accredited college or university in accounting, business, economics, finance, information technology, insurance, mathematics, risk management, statistics, data analytics, or closely related field and two years of professional experience as described above; OR graduation from high school or equivalent education and three years of professional experience as described above; OR one year of experience as an Insurance Examiner Associate I, Auditor II, Financial Institutions Examiner I, Loan Officer, State Land Agent II, Property Appraiser II, or Compliance/Audit Investigator II in Nevada State service; OR an equivalent combination of education and experience as described above.
Review applications for the licensure and registration of domestic, foreign, alien insurers, captive insurers, surplus lines insurers, and risk retention groups to ensure compliance with statutory requirements and the insurer’s ability to meet statutory requirements.
Review and examine the accounting and financial records of insurers to ensure solvency; conduct a comprehensive review and analysis of company information to determine its continued solvency and compliance with applicable statutes.
Respond to inquiries from insurance companies, attorneys, or interested parties regarding applicable statutes, State requirements and instructions, fees, specific procedures, and statistical data; research, analyze and provide recommendations to approve or deny requests for major changes such as mergers, acquisitions, name changes, or payment of notes to the Insurance Commissioner, Chief Examiner and Legal Counsel.
Review and maintain reports and annual filings from insurers; analyze questionable situations or problems through correspondence and verbal communications with insurers, risk managers, or other persons who may be responsible; publish a listing of eligible surplus lines insurers for distribution; compose timely orders for voluntary or involuntary removal of insurers from eligibility; analyze and reconcile annual statements and premium tax remittances and resolve discrepancies and/or violations.
Compare premiums as reported by brokers with premiums as reported by insurers; design and revise forms for filing; compose notices and bulletins to licensees.
Conduct financial and market conduct examinations of insurers including the field audits of agents, managing general agents, broker licensee, and third-party administrators by order of the Commissioner and under established procedures in conjunction with the statutory examination of insurers.
Analyze, evaluate, and investigate the trade practices in the business of insurance including sales, advertising, underwriting, rate applications, cancellation/non-renewals, certificates of authority or licensing, consumer complaints, claims practices, premium tax, and countersignature requirements.
Review market conduct and financial condition examination reports and prepare examination summaries and orders for presentation to the Insurance Commissioner; provide testimony for hearings and court proceedings.
Conduct financial analysis of domestic insurance companies in compliance with the National Association of Insurance Commissioners (NAIC) and accreditation standards.
Review Insurance Division records on licensing, consumer complaints, prior examination or audit reports and prepare a formal report for distribution to the Insurance Commissioner, Chief Examiner and Legal Counsel.
Propose and draft legislation, regulations, bulletins, and opinions for consideration to the Insurance Commissioner, Chief Examiner and Legal Counsel; provide testimony at regulatory hearings.
Pursuant to statute, when assigned to the surplus lines program, provide analysis and recommendations for the exclusion of insurers, or the inclusion of eligible insurers for published listing and distribution; process and maintain the listing of lines open for export to surplus lines insurers; receive, review, and reconcile quarterly and annual statements.
Perform related duties as assigned.
Under general supervision of an Insurance Examiner II, incumbents continue to receive training in performing the full range of duties as described in the series concept. This is the continuing trainee level in the series and incumbents may progress to the next level in the series upon meeting the minimum qualifications, satisfactory performance, and with the recommendation of the appointing authority.
General knowledge of: general accounting and auditing principles and practices; insurance coverages, terms, and industry practices; federal insurance law and current insurance regulatory problems; the practical, legal, and regulatory principles of the insurance business and related State laws.
Skill in: data mining and data analytics.
Ability to: conduct field audits and examinations of insurance companies, agents and/or brokers under the direction of a higher-level Insurance Examiner; interpret rules, regulations, policies, and procedures.
The State of Nevada is an equal opportunity employer dedicated to building diverse, inclusive, and innovative work environments with employees who reflect our communities and enthusiastically serve them. All applicants are considered without regard to race, color, national origin, religion or belief, age, disability, sex, sexual orientation, gender identity or expression, pregnancy, domestic partnership, genetic information (GINA), or compensation and/or wages.
- Health Insurance: Medical, dental, life, and disability insurance programs for employees and their dependents/family are offered through the Public Employees' Benefits Program (PEBP).
- Vacation: Accrual of three weeks of annual leave each year.
- Sick Leave: Accrual of three weeks of sick leave each year.
- Holidays: 12 paid holidays per year.
- Retirement: Participation in the Nevada Public Employees Retirement System (PERS). Employees do not contribute to Social Security but will contribute to PERS if their position is at 50% or more full-time equivalency. For more information on how PERS service may impact Social Security benefits, visit the SSA publication.
- Deferred Compensation: The State offers a voluntary Deferred Compensation Program.
- No Nevada state income tax.
- Public Service Loan Forgiveness: Eligible due to public sector employment.
- Longevity Payments Eligibility: Employees who have received a performance rating of "standard" or better and have completed eight (8) or more years of continuous service are eligible for longevity pay.
Additional benefits may apply to employees covered under a Collective Bargaining Agreement (CBA), depending on their designated bargaining unit. For more information, visit the Labor Relations Unit (LRU).
For more details about your rights and responsibilities as a State of Nevada employee, please review the State of Nevada Employee Handbook (PDF).
January 1.............................................. New Year's Day
Third Monday in January.................. Martin Luther King, Jr.'s Birthday
Third Monday in February................ Washington's Birthday
Last Monday in May........................... Memorial Day
June 19................................................ Juneteenth Day
July 4.................................................... Independence Day
First Monday in September.............. Labor Day
Last Friday in October....................... Nevada Day
November 11........................................ Veterans' Day
Fourth Thursday in November........ Thanksgiving Day
Friday following the Fourth Thursday in November...................... Family Day
December 25........................................ Christmas Day
When January 1, June 19, July 4, November 11, or December 25 falls on a Saturday, the preceding Friday is the observed legal holiday. If these days fall on Sunday, the following Monday is the observed holiday. Eligibility for holiday pay is covered by the provisions of NAC 284.255
- Bachelor’s degree from an accredited college or university in accounting, business, economics, finance, information technology, insurance, mathematics, risk management, statistics, data analytics, or closely related field and one year of professional experience performing duties of an accountant, auditor, actuary, investment advisor, insurance broker, stockbroker, trust officer, financial or market examiner, financial or market regulator, employee benefit advisor, health benefit advisor, insurance advisor, retirement analyst, or closely related field.
- Associate’s degree from an accredited college or university in accounting, business, economics, finance, information technology, insurance, mathematics, risk management, statistics, data analytics, or closely related field and two years of professional experience as described above.
- Graduation from high school or equivalent education and three years of professional experience as described above.
- One year of experience as an Insurance Examiner Associate 1, Auditor 2, Financial Institutions Examiner 1, Loan Officer, State Land Agent 2, Property Appraiser 2, or Compliance/Audit Investigator 2 in Nevada State service.
- An equivalent combination of education and experience as described above.
- None of the listed above.
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- Required Question
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