Insurance Financial Examiner Trainee (Hybrid/Flexible)

State of Illinois; Chicago (IL); Hybrid; USD 55,000 - 75,000; Full time

Job summary

The State of Illinois is seeking an Insurance Company Financial Examiner Trainee in the Department of Insurance, headquartered at 115 S Lasalle St, Chicago. This twelve-month trainee program provides hands-on instruction to examine financial and operational records of various insurers, ensuring compliance with the Illinois Insurance Code.

The role requires a bachelor’s degree with accounting coursework, basic spreadsheet skills, and strong ethics.

Qualifications

• Requires a bachelor’s degree with 21 semester hours of coursework in accounting, (3 hours of auditing), with additional coursework in business, economics, finance, insurance, information technology, risk management, finance or a closely related field.
• Prefers elementary knowledge of insurance accounting and auditing theories, methods, standards and procedures.
• Prefers basic knowledge of spreadsheets and computer applications.

Responsibilities

• Under immediate supervision, for a period of up to twelve months, receives on-the-job instruction and guidance in learning to perform a variety of assignments of increasing difficulty to develop knowledge, understanding and practical skills requisite for performing risk focused examinations in accordance with the National Association of Insurance Commissioners (NAIC) Financial Examiners Handbook.
• Receives exposure to all aspects of the financial examination process to develop knowledge, understanding and practical skills.
• As a financial examination team member, receives on-the-job instruction and guidance to perform a risk focused examination/analysis in accordance with the National Association of Insurance Commissioners (NAIC) Financial Examiners/Analysis Handbook.
• Participates with higher level examiners in meetings and interactions with insurance company officials and industry representatives.
• Learns to prepare electronic working papers necessary to support examination findings.
• Performs other duties as required or assigned, which are reasonably within the scope of the duties enumerated above.

Skills

Bachelor’s coursework in accounting

Education

Bachelor’s degree with 21 semester hours in accounting

Job description

The State of Illinois is seeking an Insurance Company Financial Examiner Trainee in the Department of Insurance, headquartered at 115 S Lasalle St, Chicago. This twelve-month trainee program provides hands-on instruction to examine financial and operational records of various insurers, ensuring compliance with the Illinois Insurance Code.

The role requires a bachelor’s degree with accounting coursework, basic spreadsheet skills, and strong ethics.