Financial Analyst

Recruitment #211015-UNCD-220

Introduction

APPLICATION INSTRUCTIONS:

Email resumes to: angie.powers@oid.ok.gov
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#21-30-The Oklahoma Insurance Department has an opening in the Financial Division for a Financial Analyst I. The vacant position has a salary of $40,950. This position is open until filled.

DEFINITION
Under administrative direction of the Chief Financial Analyst, conduct analysis of financial statements of assigned domestic insurance companies, and various other entities, within NAIC guidelines, the Oklahoma state statutes, and Oklahoma rules and regulations.

JOB DUTIES:
• Review filings, approve/deny forms, and analyze financial filings for financial stability, solvency, and statutory compliance; use NAIC tools and guidelines to perform the analysis in accordance with the NAIC Financial Regulation Standards and Accreditation Program.
• Create an Insurer Profile Summary (IPS) and Group Profile Summary (GPS) for distribution to other state departments of insurance. Correspond with other state insurance departments regarding Oklahoma companies.
• Identify concerns, recommend resolutions, and forward reports to the Chief Financial Analyst.
• Handle both oral and written correspondence: Collaborate with management, companies, regulators, and examiners to monitor financial condition and other issues.
• Produce material for examinations; attend examination meetings and interviews, ensure corrective action has been taken on examination report exceptions.
• Review initial and foreign applications, admission documents, and financial reports; review A.M. Best, S&P and reinsurers; analyze company and parent; make recommendations to accept or deny the application.
• Review and approve securities and statutory deposits of domestic and foreign insurers.
• Handle both oral and written communications from the general public
• Maintain continuing education to meet NAIC accreditation standards. Attend NAIC webinars, ICCIE or other insurance/financial analyst training. Position may include minimal travel for meetings or training.
• Perform related work and special projects as required or assigned by Chief Financial Analyst.

KNOWLEDGE, SKILLS AND ABILITIES:
• Basic knowledge of insurance accounting, including statutory accounting principles as well as generally accepted accounting principles, and applicable state statutes preferred.
• Proficiency in Microsoft Office, specifically Excel, Word, Access and Outlook
• Ability to understand statutes, policies and procedures and apply them to conduct the business of the Department
• Ability to maintain effective working relationships
• Good time management skills and ability to work independently
• Strong communication and organizational skills

EDUCATION AND EXPERIENCE:
Financial Analyst I - Bachelor’s degree in accounting, insurance, finance, or actuarial science with zero to three years of experience in financial analysis, insurance financial analysis. Preference will be given to applicants holding at least one of the following designations:  CPA, CFE, AFE, CIE, AIE, FLMI, CPCU or ICCIE (ACI or CCI).

NOTE
:
Upon hire, any applicant who is licensed as a producer/agent, adjuster or is otherwise affiliated with any entity that is regulated by the department must surrender their license and terminate any financial or non-financial affiliation with the entity that is regulated by the department. The selected applicant must pass a background check. Individual may be required to pursue NAIC designations as job duties require.

Employees of the Oklahoma Insurance Department are unclassified employees of the state.  For benefits offered by the State of Oklahoma to employees of the state, please use this link to access the Office of Human Capital Management benefits page at https://omes.ok.gov/services/employee-benefits

EEO/AA

Conclusion

Veteran's Preference Points Apply only for initial appointment in the Classified Service.