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SENIOR INSURANCE EXAMINER Full-time

at RI Department of Administration in Rhode Island (Published at 28-12-2019)

Class Definition

GENERAL STATEMENT OF DUTIES: To conduct local, zone or convention types of examinations into the financial condition and affairs of insurance companies and related organizations, fraternal beneficiary societies, and hospital, surgical and dental service corporations for the purpose of ascertaining their ability to meet obligations and compliance with state laws; and to do related work as required.
SUPERVISION RECEIVED: Works under the general supervision of a superior from whom are received general and specific instructions; work is usually reviewed in process and upon completion for conformance to law, established policies and instructions and with accepted accounting principles and practices.
SUPERVISION EXERCISED: Occasionally supervises and reviews closely, both in process and upon completion, the work of subordinates engaged in performing tasks incidental to the examinations.

Illustrative Examples of Work Performed

To conduct local, zone or convention types of examinations into the financial condition and affairs of insurance companies and related organizations, fraternal beneficiary societies, and hospital, surgical and dental service corporations for the purpose of ascertaining their ability to meet obligations and compliance with state laws.
To examine and verify assets and liabilities consisting of real estate, cash, bonds, stocks, agents' balances, receivables, unpaid losses and expense reserves, capital stock or guaranteed fund and surplus as regards policy holders, etc.
To make test checks of income and disbursement items and accounts, including the checking of income and disbursements to their original sources.
To read companies' by-laws and minutes of directors' meetings and check the company operations against such records.
To prepare statements of income and disbursements, assets and liabilities, underwriting and investment exhibit and necessary supporting schedules, such as summaries of the investment accounts and analysis of surplus accounts.
To prepare and submit to a superior written reports covering the scope and findings of such field examinations.
As required, supervises the work of subordinate examiners assigned to assist in the making of field examinations.
To do related work as required.

Required Qualifications for Appointment

KNOWLEDGE, SKILLS AND CAPACITIES: A thorough knowledge of the provisions of the state laws regulating insurance companies and related organizations, fraternal beneficiary societies, and hospital, surgical and dental service corporations; a thorough knowledge of the principles and methods used in the examination of the records of such companies and societies to verify that their assets and liabilities are in accordance with state laws; the ability to make such examinations and to prepare reports thereon covering their scope and findings; the ability to supervise and review the work of subordinates assigned to assist in making such examinations; and related capacities and abilities.

EDUCATION AND EXPERIENCE:

Education: Such as may have been gained through: graduation from a college of recognized standing with specialization in Accounting or Business Administration; and
Experience: Such as may have been gained through: employment at the level of an insurance examiner assisting in the verification of the assets and liabilities of insurance companies and fraternal beneficiary societies.
Or, any combination of education and experience that shall be substantially equivalent to the above education and experience.

Supplemental Information

This is an audit position assisting with the performance of various tasks related to the analysis and examination of the financial condition and market conduct affairs of insurance companies, for the purpose of ascertaining their ability to meet obligations and comply with state laws, regulations, and other guidelines; and to do related work as may be required. This position is located at the home office in Cranston, RI, but requires occasional travel to various locations both within and outside the state.
Required travel also includes attending various programs within and outside the state for training purposes. Candidates must be willing to work towards attaining a professional certification as determined by management.



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