PURPOSE OF JOB CLASS (NATURE OF WORK)
In the Insurance Department, Financial Regulation Division, this class is accountable for independently participating in the examination of the financial and business records of insurance companies to assess condition and market conduct.
GUIDELINES FOR JOB CLASS USE
This is a basic professional working level and is used to assist and participate in professional examination work. This class is distinguished from lower level classes by responsibility for examination work which requires the application of technical principles and practices of accounting and of relevant statutes and regulations in the analysis of business and financial records and documents being examined. This class is distinguished from higher level Examiner classes by responsibility for participating and assisting in examination work under the supervision of an Examiner of higher grade.
Works under the general supervision of an Insurance Certified Supervising Examiner or other employee of higher grade.
May lead/supervise clerical staff.
EXAMPLES OF DUTIES
Participates in examinations of insurance companies' records; traces each item of a financial statement to original sources; verifies and computes liabilities; verifies cash and bank balances; verifies annual statements and reports submitted to the Insurance Commissioner; verifies proper market conduct including rates charged and claims paid; prepares or assists in preparing examination reports; may conduct office audits of annual statements of licensed insurance companies and complaint registers; may assist in the preparation of hearing materials; performs related duties as required.
KNOWLEDGE, SKILL AND ABILITY
Knowledge of accounting and auditing principles and practices; knowledge of the organization, terminology and business practices of insurance companies; knowledge of life actuarial reserves; knowledge of and ability to interpret and apply insurance statutes, regulations and bulletins and the Uniform Administrative Procedures Act; oral and written communication skills; interpersonal skills; ability to analyze and evaluate insurance company financial records and statements; ability to calculate complex mathematical formulas; ability to utilize computer software.
MINIMUM QUALIFICATIONS - GENERAL EXPERIENCE
Six (6) years of experience in one or more of the following areas: governmental examination of financial condition or market conduct of insurance companies, accounting, auditing or actuarial work.
MINIMUM QUALIFICATIONS - SPECIAL EXPERIENCE
Two (2) years of the General Experience must have been at or above the paraprofessional level. Paraprofessional experience will be interpreted as work requiring the exercise of some independent judgment in the application of basic principles and practices of governmental examination of financial condition or market conduct of insurance companies, accounting, auditing or actuarial work.
MINIMUM QUALIFICATIONS - SUBSTITUTIONS ALLOWED
1. College training with courses in Accounting may be substituted for the General Experience on the basis of fifteen (15) semester hours equalling one-half (1/2) year of experience to a maximum of four (4) years for a Bachelor's degree.
2. A Master's degree in Accounting, Insurance, Business or Economics may be substituted for one (1) additional year of the General Experience.
3. Certification in any of the following may be substituted for one (1) additional year of the General Experience: Certified Public Accountant, Certified Internal Auditor.
1. Incumbents in this class may be required to travel.
2. Incumbents in this class may be required to possess and retain a valid Motor Vehicle Operator’s license.
JOB CLASS DESIGNATION
(15)-Insurance Programs and Control
(16)-ADMIN & RESID (P-5)
This replaces the existing specification for the class of Insurance Examiner (Examination and Market Conduct) in Salary Group AR 22 approved effective October 1, 1987. (2012 SCOPE Review)