INSURANCE EXAMINER ASSOCIATE 2-UNDERFILL

State-of-Nevad; Nevada (IA); On-site; USD 55,000 - 75,000; Full time

Job summary

The Department of Business and Industry in Nevada is recruiting for an Insurance Examiner I to review insurer financial records and assess solvency, with duties spanning regulatory inquiries, statutory compliance, and processing major changes such as mergers or name changes.

Responsibilities include conducting financial and market conduct examinations, publishing surplus lines listings, and preparing examination summaries for the Insurance Commissioner and Counsel.

Qualifications

• Bachelor's degree with one year of professional experience in accounting, auditing, actuary, insurance or related field; OR Associate's degree with two years of experience; OR high school diploma with three years of experience; OR specific Nevada state service experience as listed.
• Review applications for licensure and registration of insurers to ensure statutory compliance.

Responsibilities

• Review accounting and financial records of insurers to ensure solvency.
• Conduct analyses to determine continued solvency and compliance with statutes.
• Respond to inquiries from insurers, attorneys or interested parties regarding statutes, requirements, fees and procedures.
• Publish listings of eligible surplus lines insurers for distribution.
• Analyze and reconcile annual statements and premium tax remittances; resolve discrepancies and violations.

Skills

data analytics

audit

solvency analysis

Education

Bachelor's degree in accounting/finance/economics or related field

Associate's degree with 2 years of experience

High school diploma with 3 years of experience

Nevada state service experience (Insurance Examiner Associate I etc.)

Job description

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 licensees, 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.

This job specification lists the major knowledge, skills and abilities of the job and is not all inclusive. Incumbent(s) will be expected to have knowledge, skills and abilities from a previous level.

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.