Insurance Company Examiner I

Agency

Dept of Insurance

Division

Company Services Group

Job Classification Title

Insurance Company Examiner I (NS)

Position Number

60013679

Grade

NC12

About Us

The mission of the North Carolina Department of Insurance is to promote a stable insurance market through unbiased regulation and to protect the lives and property of every citizen in all 100 counties while fostering superior, user-friendly service, courtesy, and respect. Our agency licenses insurance agents, adjusters, bail bondsmen and more, along with investigating fraud matters involving insurance consumers and any entity or individual regulated by the Department. In an ever-changing environment, it is the vision of the Department of Insurance to maintain the stabilization of the insurance industry in order to provide more products, competitive prices and consumer protection.

Description of Work

The primary purpose of this position is to license captive insurers and regulate the financial solvency of captive insurance companies authorized in North Carolina. The role includes conducting financial analysis of captive applicants and licensed captive insurers, evaluating business plans and transactions requiring regulatory approval, and recommending appropriate Department actions. The position interacts frequently with NCDOI leadership, captive insurers, captive managers, service providers, and others within the captive insurance industry. It may also involve participating in captive industry events on behalf of the Department. This position is expected to exercise independent judgment and performs work under the general direction of Captive Insurance Companies Division management.

Knowledge Skills and Abilities/Management Preferences

This Financial Analyst position, which is part of the Captive Insurance Companies Division, will conduct financial analysis of North Carolina domestic captive insurance companies ("captive insurers") and captive insurer/captive management license applicants, utilizing the latest automated financial analysis systems and procedures intended to safeguard the financial solvency of these insurance companies. The position will evaluate applications to determine if the captive insurers or captive manager applicants meet the requirements for approval or licensing, and upon completion of each evaluation, this position will recommend appropriate North Carolina Department of Insurance ("Department") action. The position will also conduct financial analysis of licensed captive insurers to determine if they are compliant with applicable laws, regulations, procedures, and accounting practices required by this State. This position will render an opinion on the financial health of each assigned captive insurers, recommend any appropriate corrective actions, evaluate captive insurers proposals such as material business plans changes, dividend payments, and loans to or investment in affiliates, which require the approval of the Commissioner. The position will interact with people at all levels of experience within the captive insurer industry as well as within this Department. This interaction may include attendance at captive insurer conferences and events. The work is guided by state laws and regulations, Departmental policies and procedures, and guidance provided by the National Association of Insurance Commissioners.

Positions in this class perform professional analysis work responsible for monitoring and regulating the operations and financial condition of all proposed and authorized regulated entities, for compliance with the solvency laws of North Carolina. Work involves independently analyzing financial statements, mergers, acquisitions, independent auditor reports, actuarial reports, business plans, operations and systems. Employees interact with management of regulated entities and the Department. The position documents findings and makes recommendations on necessary and appropriate actions based on pre-established guidelines and State law.

Minimum Education and Experience

Some state job postings say you can qualify by an “equivalent combination of education and experience.” If that language appears below, then you may qualify through EITHER years of education OR years of directly related experience, OR a combination of both. See the Education and Experience Equivalency Guide for details.

Bachelor's degree from an appropriately accredited college or university, with the appropriate courses in accounting as defined in 21 NCAC 8A.0309 and other courses required to qualify as a candidate for the uniform certified public accountant examination, based on the examination requirements in effect at the time of graduation.

EEO Statement

The State of North Carolina is an Equal Employment Opportunity Employer and dedicated to providing employees with a work environment free from all forms of unlawful employment discrimination, harassment, or retaliation. The state provides reasonable accommodation to employees and applicants with disabilities; known limitations related to pregnancy, childbirth, or related medical conditions; and for religious beliefs, observances, and practices.

Recruiter:

Carlie Grace Perry

Recruiter Email:

[email protected]