Address
Form of work
SalaryJob Information
State of Tennessee Job Information
Opening Date/Time
02/13/2024 12:00AM Central Time
Closing Date/Time
03/04/2024 11:59PM Central Time
Salary (Monthly)
$4,450.00 - $6,658.00
Salary (Annually)
$53,400.00 - $79,896.00
Job Type
Full-Time
City, State Location
Nashville, TN
Department
Commerce and Insurance
LOCATION OF (3) POSITION(S) TO BE FILLED: DEPARTMENT OF COMMERCE & INSURANCE, INSURANCE DIVISION, DAVIDSON COUNTY
Qualifications
Education and Experience: Graduation from an accredited college or university with a bachelor's degree in finance, business administration, accounting, or any other remaining business, mathematics, statistics, actuarial science, or computer science degree with at least nine quarter hours in accounting and experience equivalent to one year of full-time responsible professional insurance examination work.
Substitution of Experience for Education: Professional examining, accounting or auditing of financial records and management practices, or related professional financial/insurance experience in risk or policy/procedure analysis may substitute for the required education, including the accounting course work, on a year-to-year basis, to a maximum of four years.
Substitution of Education for Experience: Graduate course work credit completed at an accredited college or university in accounting, business administration, finance, insurance, other acceptable related field may substitute for the required experience on a month-for-month basis to a maximum of one year (e.g., 36 graduate quarter hours in one or a combination of the above listed fields may substitute for the required year of experience).
Necessary Special Qualifications: A valid vehicle operator's license may be required for employment in some positions.
Examination Method: Education and Experience,100%, for Preferred Service positions.
Summary
Summary: Under general supervision, is responsible for non-credentialed professional insurance examination work of average difficulty in the analysis of the operations and financial solvency of insurance companies; and performs related work as required.
Distinguishing Features: ,This is the working level class in the non-credentialed Insurance Examination sub-series, the entry level being subsumed by Insurance Examiner 1,. An employee in this class performs a wide variety of assignments in non-zone insurance company examinations and in zone examinations called by Tennessee and may serve as examiner-in-charge of non-zone examinations of the smallest Tennessee companies not licensed in multiple states. Work involves examining records and company statements and preparing reports to ensure that insurance company operations and financial conditions adhere to insurance laws, rules, and regulations. This class is flexibly staffed with and differs from Insurance Examiner 1, in that an incumbent of the latter functions at the entry level under immediate supervision. This class differs from Insurance Examiner 3 in that an incumbent of the latter performs duties of greater scope and complexity.
Responsibilities
Analyzing Data or Information:
- Analyzes statements of income and disbursements, assets and liabilities, underwriting and investment exhibits and necessary supporting schedules.
Getting Information:
- Researches accounting practices, procedures, Tennessee statues, Tennessee rules and regulations, and other publicly available information regarding the financial condition of the company and trends of the industry.
- Participates in insurance company examinations in order to determine solvency and regulatory compliance.
- Obtains relevant information from required statutory filling in order to evaluate the solvency and regulatory compliance of a licensed entity.
Processing Information:
- Audits financial statements, operations, and business plans in order to determine financial solvency and compliance.
- Calculates the amount of company liabilities, including commissions, taxes, bills, and stockholder and policyholder dividends to determine if ample reserves from policyholder surplus exist to cover company expenditures.
- Applies Statutory Accounting Principles and Generally Accepted Accounting Principles in identifying and verifying company assets, liabilities, and surplus.
- Conducts test checks and samplings of income and disbursement items and accounts maintained during the period of examination to determine statutory compliance and the use of sound business practices.
Making Decisions and Solving Problems:
- Makes recommendations for corrective measures based upon statutes cited in company examination reports.
- Makes recommendations for corrective measures, approvals, denials based on, analytical reviews, legal filings and supporting financial and statistical documents.
- Enforces departmental policies and procedures as well as federal and state insurance laws, rules, and regulations.
- Determines the timeliness and accuracy of premium tax fillings in order to assess, additional taxes, penalties, interest or refund excess payments, if applicable.
Identifying Objects, Actions, and Events:
- Identifies hazardous companies based on financial data and trends.
- Identifies financial trends in order to detect changes in operations or financial conditions.
- Identifies the priority of an examination or analysis of a company based on size, financial condition and number of states company is licensed in.
Organizing, Planning, and Prioritizing Work:
- May occasionally plan non-zone examinations of the smallest Tennessee companies not licensed in multiple states by budgeting time, assessing materiality, reviewing independent CPA work papers to determine usefulness, evaluating controls, completing planning questionnaires, performing preliminary analytical reviews, reviewing holding company records and reinsurance records.
- Assists the examiner-in-charge of a zone examination in planning the examination by budgeting time, assessing materiality, reviewing independent CPA work papers to determine usefulness, evaluating controls, completing planning questionnaires, performing preliminary analytical reviews, reviewing holding company records and reinsurance records, in accordance with NAIC Examiner Handbook.
Evaluating Information to Determine Compliance with Standards:
- Reviews insurance company legal documents for compliance with Tennessee statues and regulations.
- Examines corporate structure, managerial procedures and practices, record-keeping systems, and marketing practices of insurance companies to determine statutory compliance and sound insurance business practices.
- Reviews insurance company claims and policy files to ensure proper and equitable treatment of policyholders.
- Audits insurance company premium tax returns against financial statements, Tennessee laws, and laws of the other states to ensure that the proper amount has been paid.
Documenting/Recording Information:
- Records and stores examination and analytical procedures performed and findings.
Interacting With Computers:
- Utilizes software to extract sample from insurance company's financial records.
- Utilizes databases in order to upload and retrieve documents pertaining to an examination/analysis.
- Utilizes software in order to receive, audit, and store data related to taxes and payments.
Communicating with Supervisors, Peers, or Subordinates:
- Provides information on examination and analytical developments to the supervisor.
- Maintains continuous communication between examiner and analyst concerning financial issues and company operations.
- Requests information on any concerns or issues from relevant sections prior to the initialization of an examination or quarterly analysis.
Communicating with Persons Outside Organization:
- Communicates with licensees and prospective licensees concerning inquiries regarding license requirements and compliance.
Performing Administrative Activities:
- Performs day-to-day administrative tasks such as maintaining information files and processing tax filings, analytical procedures, exam work papers, and other required filings.
- Safeguards insurance company records and information.
Establishing and Maintaining Interpersonal Relationships:
- Establishes and maintains a variety of personal contacts with insurance company executives and other personnel, accountants, attorneys, actuaries, underwriters, and departmental associates to resolve problems uncovered in insurance examinations or analysis.
Operating Vehicles, Mechanized Devices, or Equipment:
- Travels both in state and out-of-state to perform or lead examinations which ensure compliance with accepted accounting principles and practices and adherence to state laws, rules, and regulations.
- Schedules regular maintenance on state owned vehicles.
Competencies
Competencies:
- Written Communication
- Ethics Values
- Functional Technical Companies
- Technical Learning
- Listening
- Self-Development
- Time Management
- Problem Solving
Knowledge:
- Intermediate knowledge of accounting principles and practices, the financial markets, analysis and reporting of financial data.
- Knowledge of computer applications
- Intermediate knowledge of office productivity software included but not limited to Microsoft Office
- Knowledge of statistics principles
Skills:
- Reading Comprehension
- Writing
- Active Listening
- Basic Deductive Reasoning Skills
- Problem Solving
- Intermediate Critical Thinking
- Active Learning
- Speaking
Abilities:
- Mathematical Reasoning
- Written Comprehension
- Written Expression
- Problem Sensitivity
- Oral Comprehension
- Oral Expression
- Time Sharing
Tools & Equipment
- Scanner
- Copier
- Fax Machines
- Printers
- Computers
- Calculators
Other office equipment as required
TN Driver Standards
State of Tennessee positions that may involve driving responsibilities require candidates to meet the following minimum driver qualifications:
- A valid driver's license
- For the past five years, the candidate's driver record must not have record of the following violations: driving under the influence (DUI), reckless driving, license suspension for moving violations, more than 4 moving violations.
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**Agencies may allow an exception based on other factors.
