Insurance Company Examiner - Risk Focused Financial Examiner

Department of Professional and Financial Regulation (and Boards) - Bureau of Insurance/Examination Division

Job Class Code: 0366
Grade: 22 (Professional/Technical)
Salary: $54,662 - $61,443
Location: Gardiner, ME

Opening Date: March 15, 2024

Closing Date: March 31, 2024

As a public servant within the Bureau of Insurance, the Insurance Company Examiner will contribute to the Bureau's mission to protect Maine consumers by performing Risk Focused Financial examinations of insurance companies.

Employment time qualifies as experience toward CPA requirements on an hour for hour basis. This classification is eligible for a stipend of up to 21% of the hourly rate of pay for employees who maintain either the CPA and/or the CFE designation.

Primary responsibilities include:

• Examines and analyzes assets and liabilities, surplus and other funds, statements of income, cash flow, as well as supporting exhibits, schedules, and notes to the financial statements of insurance companies.
• Reviews company compliance with applicable laws, rules, regulations and standards.
• Assesses risks of insurance related entities, including inherent risks, risk mitigation strategies, residual risk, and prospective risks in order to determine appropriate financial analysis or examination procedures.
• Performs tests of controls, and analyzes data processing applications in order to assess company internal control environment.
• Reviews appropriate investment documentation in order to confirm asset value and asset existence.
• Performs substantive testing on assigned accounts in order to validate information presented in the financial statements.

Minimum qualifications:

Additionally, applicants should possess:

• Knowledge of Generally Accepted Accounting Principles (GAAP)
• Knowledge of American Institute of Certified Public Accountants auditing standards
• Knowledge of proper business management procedures
• Ability to prepare clear and comprehensive examination documentation
• Ability to analyze accounts, records, and documents for irregularities.
• Ability to analyze operational systems and controls.
• Ability to analyze financial statements.
• Ability to establish and maintain effective working relationships.
• Ability to communicate clearly and effectively, both in writing and verbally.
• Ability to use applicable computer programs.

Contact information:

Questions about this position should be directed to Vanessa Sullivan, (207)624-8452 or vanessa.j.sullivan@maine.gov

Application Instructions:

Interested applicants need to apply online by selecting the "Apply for this opening" button along with uploading a cover letter, current resume, and copies of any transcripts or certifications you wish to have considered while evaluating your application. In order for us to properly determine if you meet the minimum qualifications for any posting, you must be sure your resume includes month and year for any experience listed along with the duties and responsibilities associated with each particular time period. Any experience that was not full-time employment should be identified as such.

If you require a paper application, please download and print one here https://www.maine.gov/bhr/state-jobs/application-process or contact our office at 207-623-6700. Paper applications for this posting should be submitted along with cover letter and resume before the closing date to Security & Employment Service Center, 45 Commerce Drive, Augusta, ME 04330 or faxed to 207-287-2018. Be sure title of the job you are applying for is included. Applications cannot be accepted after the posting closing date.

Benefits of working for the State of Maine:

No matter where you work across Maine state government, you find employees who embody our state motto—"Dirigo" or "I lead"—as they provide essential services to Mainers every day. We believe in supporting our workforce's health and wellbeing with a valuable total compensation package, including:

• Work-Life Balance – Rest is essential. Take time for yourself using 13 paid holidays, 12 days of sick leave, and 3+ weeks of vacation leave annually. Vacation leave accrual increases with years of service, and overtime-exempt employees receive personal leave.
• Health Insurance Coverage – The State of Maine pays 85%-100% of employee-only premiums ($10,150.80-$11,942.16 annual value), depending on salary. Use this chart to find the premium costs for you and your family, including the percentage of dependent coverage paid by the State.
• Health Insurance Premium Credit – Participation decreases employee-only premiums by 5%. Visit the Office of Employee Health and Wellness for more information about program requirements.
• Dental Insurance – The State of Maine pays 100% of employee-only dental premiums ($350.40 annual value).
• Retirement Plan – The State of Maine contributes 13.41% of pay to the Maine Public Employees Retirement System (MainePERS), on behalf of the employee.
• Gym Membership Reimbursement – Improve overall health with regular exercise and receive up to $40 per month to offset this expense.
• Health and Dependent Care Flexible Spending Accounts – Set aside money pre-tax to help pay for out-of-pocket health care expenses and/or daycare expenses.
• Public Service Student Loan Forgiveness – The State of Maine is a qualified employer for this federal program. For more information, visit the Federal Student Aid office.
• Living Resources Program – Navigate challenging work and life situations with our employee assistance program.
• Parental leave is one of the most important benefits for any working parent. All employees who are welcoming a child—including fathers and adoptive parents—receive four weeks of fully paid parental leave. Additional, unpaid leave may also be available, under the Family and Medical Leave Act.
• Voluntary Deferred Compensation – Save additional pre-tax funds for retirement in a MaineSaves 457(b) account through payroll deductions.
• Learn about additional wellness benefits for State employees from the Office of Employee Health and Wellness.

There's a job and then there's purposeful, transformative work. Our aim is to create a workplace where you can learn, grow, and continuously refine your skills. Applicants demonstrate job requirements in differing ways, and we appreciate that many skills and backgrounds can make people successful in this role. As an Equal Opportunity employer, Maine State Government embraces a culture of respect and awareness. We are committed to creating a strong sense of belonging for all team members, and our process ensures an inclusive environment to applicants of all backgrounds including diverse race, color, sex, sexual orientation or gender identity, physical or mental disability, religion, age, ancestry, national origin, familial status or genetics. If you’re looking for a great next step, and want to feel good about what you do, we’d love to hear from you. Please note reasonable accommodations are provided to qualified individuals with disabilities upon request.

Thinking about applying?

Research shows that people from historically excluded communities tend to apply to jobs only when they check every box in the posting. If you’re currently reading this and hesitating to apply for that reason, we encourage you to go for it! Let us know how your lived experience and passion set you apart.