Program Assistant-Financial Analysis Intern

State of South Carolina; Columbia (SC); On-site; USD 39,000 - 55,000; Part time

Benefits offered by this job

Employee assistance program

Free gym access

Free parking

Job summary

The South Carolina Department of Insurance is seeking a part-time financial regulation and solvency analyst to review insurer financial statements, prepare risk assessments, and coordinate with regulators. Applicants must be enrolled full-time in approved degree programs in business, accounting, or related fields and possess strong communication and computer skills.

Responsibilities include updating RAW/IPS workpapers, researching regulatory issues, and supporting the division with special

Qualifications

• Enrolled full-time at an accredited university in a Business, Accounting, Finance, Insurance/Risk Management, or related degree program.
• Excellent written and verbal communication skills.

Responsibilities

• Review and analyze insurer financial statements, NAIC reports, and related filings for solvency.
• Prepare and update risk assessment documents and insurer profiles.
• Coordinate with other regulators to avoid duplication of requests.
• Assist with maintaining and updating the Department's website and forms.
• Support supervisors on special projects as needed.

Education

Business/Accounting/Finance

Tools

Microsoft Office

Job description

Mission Statement:
The mission of the State of South Carolina Department of Insurance is to protect the insurance consumers, the public interest, and the insurance marketplace by ensuring the solvency of insurers; by enforcing and implementing the insurance laws of the State; and by regulating the insurance industry in an efficient, courteous, responsive, fair, and equitable manner. For more information about working at the SC Department of Insurance, please visit www.careers.sc.gov.

THIS POSITION IS LOCATED IN THE OFFICE OF FINANCIAL REGULATION AND SOLVENCY.

Job Duties:

Review and analyze annual and quarterly insurer financial statements and all related supplemental regulatory filings, NAIC reports, and information from other sources relevant to the current and prospective financial solvency of insurers and/or groups.
Customize the nature and extent of analysis procedures performed to ensure effectiveness and efficiency of review in accordance with the size, risk, and complexity of the insurer. Completed reviews must be professionally written and conducted with an appropriate depth and quality of review.
Utilize analysis performed to conclude on the insurer’s priority level and provide supporting rationale. Prepare and update the Risk Assessment Worksheet (RAW), Insurer Profile Summary (IPS), and/or any other required workpapers on a timely basis to ensure that significant risks identified and ongoing monitoring plans are effectively communicated to management and other regulators, where applicable.
Research complex issues including state law, state regulations, accounting standards, etc. Investigate and determine if company is in compliance with state laws, rules, regulations and NAIC standards and guidelines. Coordinate work performed with other regulatory functions and States to avoid duplication of efforts and/or requests.
Work with supervisors to maintain the Financial Regulation and Solvency Division’s portions of the Department’s website to include updating information, forms, contacts, etc.
Assist with special projects and perform other duties as assigned by supervisors. Duties may include workload overflow from other staff or areas in the Department. Assist with special projects as assigned by the Supervisor which may include assistance with creating new records in State Based Systems, checking mail, providing support for marketing plans, etc. Additional assistance may be required to support the financial examiners.

Must be enrolled full time at an accredited university/college in a Business, Accounting, Finance, Insurance/Risk Management, or related degree program.

Must have the ability to work with others and communicate effectively, both orally and in writing. Excellent computer skills are required, including Microsoft Office programs.

Educational Credentials:

Applicants indicating college credit or degree(s) on the application will be required to submit a sealed, certified copy of the transcript(s) prior to beginning employment. Failure to produce an official, certified transcript will result in any conditional offer of employment being rescinded.

Equal Opportunity Employer:

It is the policy of the South Carolina Department of Insurance to provide equal employment opportunities to all job applicants and employees without regard to their race, color, religion, national origin, sex (including, but not limited to, pregnancy, childbirth or related medical conditions and lactation), disability or age.

Veteran Preference Statement:

South Carolina is making our Veterans a priority for employment in state agencies and institutions.

The Department of Insurance offers the following for P/T positions:

• Employee Assistance Program
  • Free counseling sessions for employees and household members
  • Free legal counseling
  • Free financial counseling
• Free Gym Access
• Free Parking