INSURANCE FINANCIAL ANALYST - 05062025- 67511

Job Information

LOCATION OF (2) 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 accounting, finance, economics, insurance, risk management or a related field and one year of professional experience in any of the following fields: accounting; auditing of financial records and management practices; or financial/insurance work in risk or policy/procedure analysis.

Substitution of Education for Experience: Graduation from an accredited college or university with a master's degree in Business Administration or Accounting.

Necessary Special Qualifications: None.

Examination Method: Education and Experience, 100%, for Preferred Service positions.

Overview

Summary: Under direct supervision, is responsible for risk-focused financial analysis for insurance companies of average difficulty; and performs related work as required.

Distinguishing Features: This is the working level class in the Insurance Financial Analyst series. An employee in this class is responsible for identifying risks for insurance companies by providing continuous off-site monitoring of an insurance company's financial condition, monitoring internal/external changes relating to all aspects of the company to identify risks and works with examinations staff to review specific risks for on-site examination. This class differs from the Insurance Financial Analyst SR in that an incumbent of the latter functions in a lead role and is assigned more complex insurance companies to analyze, which may include companies with a higher premium volume, larger net worth, or higher priority rating.

Responsibilities

1. Analyzes several risk categories within an insurance company to determine current and prospective financial solvency of the company: follows assessment procedures outlined in the National Association of Insurance Commissioner's (NAIC) Financial Analysis Handbook; fills out risk assessment charts; interprets TN rules and regulations are ensures compliance.
   
2. Gathers all relevant information needed to conduct analysis of a company: obtains insurer's statutory and audited financial statements and all related supplemental regulatory filings (e.g. actuarial opinions, Enterprise Risk Reports, holding company filings, etc.); pulls insurer's financial profile information from the NAIC application; searches for any other outside sources of information that may be relevant to analysis such as Securities and Exchange Commission filings, earning calls and releases, public news reports, etc.
   
3. Determines and ensures that companies comply with NAIC standards/guidelines and Tennessee state laws, rules, and regulations through appraising all gathered information of a company.
   
4. Documents and summarizes results of analysis and assessment of risks: updates the Insurer Profile Summary and/or Group Profile Summary in designated audit software; presents results of analysis to division leadership and other regulators and makes recommendations based on findings.
   
5. Corresponds with company executives, department staff, and other state, federal, or international regulators to investigate issues identified, evaluate company responses and propose additional regulatory actions if warranted; conducts follow-ups on issues identified by other regulators.
   
6. Attends NAIC working group calls: takes notes of information discussed and specific updates about companies or processes.

Competencies (KSA's)

Competencies:

1. Business Acumen
2. Ethics and Values
3. Functional/Technical Competency
4. Integrity and Trust
5. Learning on the fly
6. Listening
7. Organizing
8. Priority Setting
9. Time Management
10. Written Communications

Knowledge:

1. Administration and Management
2. Computers and Electronics
3. Customer and Personal Service
4. Economics and Accounting
5. English Language
6. Law and Government
7. Mathematics

Skills:

1. Active Learning
2. Active Listening
3. Critical Thinking
4. Judgment and Decision Making
5. Reading Comprehension
6. Speaking
7. Time Management
8. Writing

Abilities:

1. Deductive Reasoning
2. Fluency of Ideas
3. Inductive Reasoning
4. Information Ordering
5. Mathematic Reasoning
6. Number Facility
7. Oral Comprehension
8. Oral Expression
9. Written Comprehension
10. Written Expression

Tools & Equipment

1. Computer
2. Phone
3. Copier/Scanner
4. Printer