Insurance Financial Analyst IV

DelDOT; Dover (DE); On-site; USD 90,000 - 120,000; Full time

Job summary

The State of Delaware seeks an Insurance Financial Analyst IV to perform high‑level financial analysis of insurance companies, review statements and inter‑company arrangements, and interpret complex regulatory issues. This role supports the Bureau of Company Examination, Rehabilitation and Guaranty.

Requirements include a bachelor's degree in Accounting/Finance/Business Administration or related field, an Accredited Financial Examiners (AFE) certificate, and 3+ years in financial analysis in

Qualifications

• Bachelor's degree or higher in Accounting, Finance, Business Administration or related field.
• AFE certificate.
• Three years' experience in financial analysis of insurance companies.
• Three years' experience in interpreting and analyzing financial reports.
• Three years' experience in recognizing deficiencies in accounting procedures and management controls.
• Three years' experience in interpreting insurance industry laws, rules, regulations, standards, policies and procedures.
• Coursework, training and/or work experience in staff supervision including lead worker responsibilities.

Responsibilities

• Review annual and quarterly financial statements, trend analyses, SEC filings and inter-company arrangements.
• Apply SAP accounting principles in the review of financial and management issues.
• Compute and interpret financial ratios to identify hazardous financial conditions.
• Research and analyze inter-company transactions between parent, affiliates and subsidiaries.
• Analyze transactions involving acquisitions and mergers.
• Review licensee requests to add lines of business and defend approval decisions.
• Review applications to conduct business in Delaware; assess financial condition and size.
• Review consumer complaints to identify solvency issues or regulatory violations.
• Prepare NAIC questionnaires and summary reports for Director and Commissioner.
• Provide testimony during public hearings and legal actions.

Skills

Financial analysis

Staff supervision

Education

Bachelor's degree in Accounting/Finance/Business Administration or related field

AFE certificate

Job description

Summary Statement

This level describes first line supervision as well as financial analysis, requiring the highest level of technical expertise at the state, regional and national level. Positions at this level report to a technical superior.

Essential Functions

• Review and analyze annual and quarterly financial statements, trend analysis, S.E.C. filings, audit reports and holding company information to include reinsurance agreements, service agreements, tax allocation agreements and other inter-company arrangements.
• Apply SAP accounting principles, practices, methods and techniques in the review of financial and management issues.
• Compute and interpret financial ratios to identify hazardous financial conditions or potential hazardous financial conditions.
• Research and analyze various financial transactions between parent company, affiliates, and subsidiaries.
• Research and analyze various transactions involving acquisitions and mergers.
• Review requests by licensed companies to add lines of business; defend recommendation for approval or disapproval.
• Review applications for re-domestication and applications to conduct business within the State of Delaware; consider financial condition of the company and/or parent company, expertise and size of business.
• Review consumer complaints to identify solvency issues or patterns of regulatory violations.
• Complete analysis for assigned companies; prepare summary reports consisting of NAIC questionnaires for review by Director and Commissioner.
• Provide testimony during public hearings and legal actions.

Job Requirements

JOB REQUIREMENTS for Insurance Financial Analyst IV

• Bureau of Company Examination, Rehabilitation and Guaranty
• Possession of a Bachelor's degree or higher in Accounting, Finance, Business Administration or related field.
• Possession of an Accredited Financial Examiners (AFE) certificate.
• Three years' experience in financial analysis of insurance companies to determine resulting ratios, statistical comparisons, disclosure omissions, misstatements, and other irregularities applicable to insurance operations.
• Three years' experience in interpreting and analyzing financial reports.
• Three years' experience in recognizing deficiencies in accounting procedures and management controls.
• Three years' experience in interpreting insurance industry laws, rules, regulations, standards, policies and procedures.
• Coursework, training and/or work experience in staff supervision which may include performing as a lead worker overseeing the work of others.

Additional Posting Information

Merit Only: Current State of Delaware employees in a position covered by the Merit System and who have completed their initial probationary period.

Conditions of Hire

Applicants must be legally authorized to work in the United States. The State of Delaware Executive Branch participates in the Federal E-Verify system where the State will provide the federal government with each new hires Form I-9 information to confirm that you are authorized to work in the U.S. For more information refer to our job seeker resources.

All new hires are required to report to the Statewide New Employee Orientation (SNEO) on their first day of employment. Sessions are held at designated locations in Kent or New Castle County.

Benefits

To learn more about the comprehensive benefit package please visit our website at https://dhr.delaware.gov/benefits/

Selection Process

The application and supplemental questionnaire are evaluated based upon a rating of your education, training and experience as they relate to the job requirements of the position. It is essential that you provide complete and accurate information on your application and the supplemental questionnaire to include dates of employment, job title and job duties. For education and training, list name of educational provider, training course titles and summary of course content.

Narrative information supplied in response to the questions must be supported by the information supplied on the application including your employment, education and training history as it relates to the job requirements. Once you have submitted your application on-line, all future correspondence related to your application will be sent via email. Please keep your contact information current. You may also view all correspondence sent to you by the State of Delaware in the "My Applications" tab at StateJobs.Delaware.gov.

Accommodations

Accommodations are available for applicants with disabilities in all phases of the application and employment process.

Individuals who use TDD may request auxiliary aid or service by calling [phone] or by visiting delawarerelay.com.

If you need assistance with an accommodation under the Americans with Disabilities Act (ADA) or general applicant support, you may call [phone] or email [e-mail].

The State of Delaware is an Equal Opportunity employer and values a diverse workforce. We strongly encourage and seek out a workforce representative of Delaware including race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression.