Financial Specialist

Recruitment #220630-UNCD-134

Introduction

#22-19-The Oklahoma Insurance Department has an opening in the Financial Division for a Financial Specialist.  The salary of $45,285. This position is open until filled.

DEFINITION
Under administrative direction of the Chief Financial Analyst, regulate compliance of assigned insurance companies, Funeral Homes and new applications from entities seeking to conduct insurance-related business in the State of Oklahoma. Participate in the review of financial statements of companies making sure they meet NAIC guidelines, the Oklahoma state statutes and Oklahoma rules and regulations, to ensure financial solvency for the policyholders of the State of Oklahoma.

JOB DUTIES
• Annual review of filings of assigned companies, reviewing filings for financial solvency, stability, and compliance with Oklahoma state statutes
• Process the approval/denial of forms or renewals 
• Review initial application, admission documents, and financial reports; review submissions to verify accuracy and compliance with statutes; produce recommendation to accept or deny the application
• Process administrative changes for insurance companies, financial reports, and make recommendations for acceptance or denial for Certificate of Authority for the State of Oklahoma
• Review, reconcile and verify completion of funeral home annual reports and fees
• Maintain current electronic files, update contacts, distributing mail, and posting checks
• Field phone calls regarding questions; regulation, application/registration requirements, and good standing of regulated entities. Serve as back-up in answering the phone
• Handle both oral and written correspondence for all assigned companies
• Keep continuing education updated, attending NAIC webinars and specific financial training.  Attend other insurance related training and updates
• 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 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 with the ability to work independently
• Strong communication, organizational, clerical and time management skills

TELEWORK:
This position may be eligible for two days of telework each week under OID’s Telework Program.

To see a complete list of benefits offered by the State of Oklahoma to employees of the state click on the following link.  https://oklahoma.gov/omes/services/employee-benefits.html Equal Opportunity Employer

MINIMUM QUALIFICATIONS

Financial Specialist I - Bachelor’s degree in accounting, business, finance, or related field is desired. Or an equivalent combination of education and experience, substituting one year of qualifying experience for each year of college education. Preference will be given to applicants holding at least one of the following designations:  CPA, CFE, AFE, CIE, AIE, FLMI, CPCU or ICCIE.

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.