Financial Examiner

Update - May 15, 2024: This vacancy announcement is being readvertised and will remain OPEN UNTIL FILLED with application reviews taking place weekly. The next application review will take place on May 22, 2024.
The Montana State Auditor, Commissioner of Securities and Insurance (CSI), has multiple Financial Examiner positions in our Examinations Bureau, in both our insurance examinations and captive insurance units. We are seeking candidates to fill both Financial Examiner 1 and Financial Examiner 2 level positions. The successful candidate(s) will be placed in the appropriate classification, which will be dependent upon their knowledge, skills, and abilities.
Why Work with Us?
The CSI is a small, family-friendly state agency that takes pride in unity. Our success derives from having effective working relationships built on mutual trust and respect for each other's skills and abilities. We will challenge you to be the best you can be in both your individual competencies and as a team player. We have created an environment for success and will work hard to provide opportunities for you to progress in your career with mentorship, education, training, and certifications.
To learn more about the Agency, the division, benefits, and this position, please continue to read more and visit our "Work with Us" page on our website HERE.
CSI Overview
We are entrusted with protecting all Montanans by regulating two of the state's largest industries-securities and insurance. We strive to foster a thriving Montana industry marketplace through education, common-sense regulation, and equitable enforcement of the law with swift accountability for fraudsters and justice for their victims. We are a criminal justice agency.
Additional information about the CSI to include our Vision and Mission can be found by visiting our "About CSI" webpage HERE.
About this Opportunity
Job Overview
The Montana State Auditor, Commissioner of Securities and Insurance (CSI) is responsible for the regulation of insurance companies under Title 33, Montana Code Annotated.
The Insurance Financial Examiner I and II positions are entry-level and mid-level positions in which employees evaluate the financial position of insurance companies to verify solvency and ensure that operations are compliant with Montana laws and regulations. Employees participate in all facets of the financial examination and analysis processes, including the assessment of financial strength and the review of internal control environments, enterprise risk management structures, quality of corporate governance, claims practices, and pricing and underwriting practices. Additionally, these positions are responsible for evaluating applications of insurers seeking licensure in Montana and making licensing recommendations to management. The work performed in this position is subject to National Association of Insurance Commissioners (NAIC) performance standards, and the employee must be willing to travel to and participate in training events sponsored by the NAIC and other industry experts.
The Captive Insurance Financial Examiner positions are entry-level and mid-level positions in which employees are expected to demonstrate knowledge of the captive insurance industry, its regulation, and all relevant Montana laws and perform all facets of captive company formation and regulation, with limited supervision. Employees are expected to handle all public, service provider, and governmental or regulatory inquiries knowledgably and professionally and represent and promote the Montana captive insurance program at industry events.
What can you offer us?
For the position of Insurance Financial Examiner, under varying levels of supervision depending on classification, the successful candidate will be responsible for the following essential functions and other similar tasks:
* Performing the financial analysis insurance companies to verify solvency and ensure that operations are compliant with Montana laws and regulations and present findings to the companies and CSI management.
* Executing financial examinations of insurers, which includes the assessment of financial strength, internal control environments, enterprise risk management structures, quality of corporate governance, claims practices, and pricing and underwriting practices, and preparation of exam reports and defense of findings, to NAIC standards.
* Conducting exit interviews upon the completion of examinations, with company management.
* Reviewing applications of insurers or service providers seeking licensure in Montana.
* Providing input to CSI management regarding the development of insurance legislation and regulations.
* Mentoring other employees.
* Completing special projects or other duties as assigned by the Insurance Financial Examiner Supervisor or Examinations Bureau Chief.
For the position of Captive Insurance Financial Examiner, under varying levels of supervision depending on classification, the successful candidate will be responsible for the following essential functions and other similar tasks:
* Performing the financial analysis of Montana-domiciled captive insurance companies to detect and act upon conditions that may lead to financial loss by the companies' policyholders, and present findings to captive managers and CSI management.
* Conducting detailed reviews of captive insurance company applications, business plans, and proforma financial statements to assess reasonableness and solvency and advise CSI management on licensing decisions.
* Providing input to CSI management regarding the development of insurance legislation and regulations.
* Representing and promoting the Montana captive insurance program to the public in a knowledgeable and professional manner and attending out-of-state captive industry conferences to enhance industry knowledge and make professional contacts.
* Conducting examinations or routine investigations of captive insurers, to include conducting exit interviews to discuss findings with the captive manager and board of directors.
* Mentoring other employees.
* Completing special projects or other duties as assigned by the Captives Insurance Financial Examiner Supervisor or the Examinations Bureau Chief.
Minimum Educational and Experience Requirements:
* Bachelor's degree in a relevant field of study.
* Up to one year of progressively responsible experience in financial analysis.
* Substantial progress toward or the willingness and ability to achieve the Associate in Captive Insurance certification from the International Center for Captive Insurance Education or the Accredited Financial Examiner certification from the Society of Financial Examiners (SOFE).
Preferred Educational and Experience:
* Two to four (2-4) years of job-related experience.
* Alternate combinations of education and experience may be considered on a case-by-case basis.
Competencies:
The successful candidate should possess the following skills:
* Written and oral communication
* Critical/analytical thinking
* Technical learning
* Customer service skills
* Business acumen
* Interpersonal savvy
How to apply?
Please submit ALL of the following items with your application prior to the closing date/time of this vacancy announcement:
* Cover letter
* Resume
* Two professional references
Your application will NOT be considered without these required items.
Important Tip: When uploading and submitting your application materials, please make sure to mark your attachments as "relevant" or we will be unable to view them.
All application materials are subject to review and verification. CSI will invite a limited number of applicants to a minimum of one structured interview. The interview may include a performance test. Those selected are subject to successful reference, background, and fingerprint checks.
The successful applicant will be subject to a criminal history background check.
Only electronic materials will be accepted. If you need assistance or an accommodation, please contact Human Resources. Materials submitted but not requested will not be considered in the selection process.
Applicants claiming employment preference are required to provide proper documentation, i.e. Vet Preference (DD214), Disabled Vet document from U.S. Veterans Administration certifying service-connected disability or purple heart medal, disabled (DPHHS Disability Certification), by the closing date. The State of Montana Careers system will generate an email with instructions on how to submit preference documents.
If another department vacancy occurs in this job title within six months, the same applicant pool may be used for the selection.