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FINANCIAL EXAMINER/ANALYST II
FINANCIAL EXAMINER/ANALYST IIState of Florida • Tallahassee, FL, United States
FINANCIAL EXAMINER / ANALYST II

FINANCIAL EXAMINER / ANALYST II

State of Florida • Tallahassee, FL, United States
1 day ago
Job type
  • Full-time
Job description

Requisition No : 863240

Agency : Office of Insurance Regulation

Working Title : FINANCIAL EXAMINER / ANALYST II - 43001165

Pay Plan : Career Service

Position Number : 43001165

Salary : $50,000.04

Posting Closing Date : 11 / 03 / 2025

Total Compensation Estimator Tool

  • OPEN COMPETITIVE EMPLOYMENT OPPORTUNITY

OFFICE OF INSURANCE REGULATION

BUREAU : LIFE AND HEALTH FINANCIAL OVERSIGHT

CITY : TALLAHASSEE

COUNTY : LEON

The Florida Office of Insurance Regulation (OIR) strives to promote a stable and competitive insurance market for consumers. With a workforce of approximately 250 staff members, OIR regulates one of the largest, most complex insurance markets in the world. OIR offers a range of challenging and rewarding opportunities for individuals looking to grow in their careers and offers a wide variety of top insurance-related courses and professional certifications to ensure that its staff have the industry knowledge needed to succeed. OIR employees also have access to the State of Florida's tuition waiver program, which offers educational assistance to full time, salaried employees.

As a State Agency, OIR offers excellent benefits such as health insurance, dental insurance, vision insurance, retirement plans, flexible spending accounts, health savings accounts, and much more. OIR also offers annual and sick leave, a generous holiday schedule, and flexible work schedules.

Click the links below to see the many benefits and retirement options you have as a State of Florida employee :

https : / / www.mybenefits.myflorida.com /

https : / / www.myfrs.com / ContactUs.htm

Brief Description of Duties and Responsibilities :

This position is a part of OIR's Analysis Unit, which analyzes the financial solvency of each authorized insurer, pursuant to the requirement set forth in the Florida Insurance Code. The primary duties, responsibilities, and educational requirements are taken from the National Association of Insurance Commissioner's Financial Analysis Handbook, which the Office has adopted by Rule. This position requires extensive training and education and requires the employee to exercise discretion and judgment in determining the appropriate action based on the financial condition and prospective solvency of the insurance company being analyzed.

This position will primarily handle the small to mid-sized holding company groups and less-complex single-state companies. The primary duties of the position are :

  • Perform an in-depth financial and operational analysis of insurance companies with special emphasis on Florida Domestic companies assigned.
  • Analyze all schedules and exhibits of annual and quarterly statements and evaluate reinsurance aspects in accordance with the Financial Service Commission and NAIC accreditation standards.
  • Perform analysis and appropriately incorporate information from company filings, internal sources, external sources, and NAIC tools.

  • Perform analysis customized to promote effectiveness and efficiency in accordance with the size, risk, and complexity of the insurer.
  • Evaluate and recommend solutions or courses of action to management for assigned companies that are determined to be non-compliant with financial requirements defined in Florida Statutes.
  • Correspond with company executives, department staff, and other regulators to investigate issues identified, and evaluate whether additional regulatory actions are warranted
  • Organize, prepare, and write reports based on financial analysis and interpretation of data.
  • Analyze the management and control of companies.
  • Analyze contracts to determine compliance with applicable laws and rules and provide management with summarized findings.
  • Analyze and report on insurers' plans of operations.
  • Monitor company compliance with Risk-Based Capital and Material Transactions Reporting requirements and initiate action in non-compliance situations.
  • Create and update Insurer Profile Summary (IPS) and / or Group Profile Summary (GPS) on a timely basis to ensure that significant risks are identified and ongoing monitoring is effectively shared with other regulators.
  • Develop conclusions regarding insurer compliance with state laws, rules, regulations, NAIC, and Office standards and guidelines.
  • Monitor and evaluate NAIC Models that impact Solvency Regulation. Compiles evidence to be used in judicial or administrative proceedings and testifies when required.
  • Prioritize and manage workload in accordance with OIR Performance Expectation standards.
  • Determine the level of oversight of assigned companies based on risks and complexity.
  • Lead administrative or Business Unit projects deemed necessary by the Commissioner, Chief, or Financial Administrator.
  • Process assigned public record requests related to assigned Companies.
  • Coordinate work performed with other regulatory functions to avoid duplication of efforts and / or requests.
  • Analyze, research, or perform research on complex issues, including State law, State regulations, accounting standards, etc.
  • Participate in training courses to develop new and improve upon existing skills to improve the execution and effectiveness of the financial analysis process.
  • Stay apprised of industry trends through review of business journals, industry publications, etc., to determine impact on insurers in the State and continue to improve focus and execution of the financial analysis process regulatory.
  • Maintain relevant designations that enhance the analyst's ability to perform analysis and effectively monitor the ongoing solvency of insurers (e.g., CFE, APIR, PIR, CPCU, FLMI, etc.)
  • Coordinate and conduct staff training by means of oral, handout, and / or PowerPoint presentations.
  • Represent the Department at public functions if directed to do so.
  • Perform other related duties as required.
  • Develop Industry Knowledge and Skills.
  • Minimum Qualifications for this position include the following : REQUIRED ENTRY LEVEL KNOWLEDGE, SKILLS, AND ABILITIES :

    This position requires a Bachelor's degree or higher from an accredited college or university with a major in accounting, insurance, finance, business, or actuarial science.

  • Strong communication skills (both written and oral)
  • Understanding of insurance operations, risks, risk management techniques, and transaction flows
  • Understanding of risks that could emerge from the non-insurance operations of a group
  • Analytical skills with the ability to pull together current financial information and update it with submitted projections and other available narrative reports (i.e., business plan, Form F, MD&A, ORSA, etc.)
  • Ability to research and apply the applicable state laws, insurance departments' regulations, procedures, and practices, GAAP, and the NAIC statutory accounting practices
  • Ability to understand and evaluate the enterprise risk management functions of insurers
  • Ability to make decisions based on reasonable and timely analysis
  • Ability to evaluate and challenge information provided by the company
  • Ability to multitask, manage multiple projects, and effectively manage time
  • Ability to adapt to changing expectations and environments
  • Proficient with MS Word, Excel, and other related tools
  • Proficient in the use of electronic work paper documentation tools
  • Preferred :

  • Experience in insurance regulation, financial analysis, public accounting, or similar experience with specialization in the insurance industry.
  • Qualified applicants will be required to take a work sample.

    The annual salary for this position is $50,000.04.

    Employees of the Office of Insurance Regulation are paid on a monthly pay cycle.

    This is a non-remote on-site position located in Tallahassee, FL.

    Responses to qualifying questions must be clearly supported by the state application, and any omission, falsification, or misrepresentation in the answering of the qualifying questions will be cause for immediate elimination from the selection process.

    If you are a retiree of the Florida Retirement System (FRS), please check with the FRS on how your current benefits will be affected if you are re-employed with the State of Florida. Your current retirement benefits may be canceled, suspended, or deemed ineligible depending upon the date of your retirement.

    The State of Florida is an Equal Opportunity Employer / Affirmative Action Employer and does not tolerate discrimination or violence in the workplace.

    Candidates requiring a reasonable accommodation, as defined by the Americans with Disabilities Act, must notify the agency hiring authority and / or People First Service Center (1-866-663-4735). Notification to the hiring authority must be made in advance to allow sufficient time to provide the accommodation.

    The State of Florida supports a Drug-Free workplace. All employees are subject to reasonable suspicion drug testing in accordance with Section 112.0455, F.S., Drug-Free Workplace Act.

    The State of Florida is an Equal Opportunity Employer / Affirmative Action Employer, and does not tolerate discrimination or violence in the workplace.

    Candidates requiring a reasonable accommodation, as defined by the Americans with Disabilities Act, must notify the agency hiring authority and / or People First Service Center (1-866-663-4735). Notification to the hiring authority must be made in advance to allow sufficient time to provide the accommodation.

    The State of Florida supports a Drug-Free workplace. All employees are subject to reasonable suspicion drug testing in accordance with Section 112.0455, F.S., Drug-Free Workplace Act.

    VETERANS' PREFERENCE. Pursuant to Chapter 295, Florida Statutes, candidates eligible for Veterans' Preference will receive preference in employment for Career Service vacancies and are encouraged to apply. Certain service members may be eligible to receive waivers for postsecondary educational requirements. Candidates claiming Veterans' Preference must attach supporting documentation with each submission that includes character of service (for example, DD Form 214 Member Copy #4) along with any other documentation as required by Rule 55A-7, Florida Administrative Code. Veterans' Preference documentation requirements are available by clicking here. All documentation is due by the close of the vacancy announcement.

    Location :

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