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State of Indiana · 2 months ago

Insurance Regulatory Auditor

Indianapolis, IN

Full-time

Onsite

Entry, Mid Level

The State of Indiana is one of the largest employers in the state, offering a range of opportunities across various agencies. The Insurance Regulatory Auditor will perform risk analysis and ensure compliance with state laws and regulations within the Indiana Department of Insurance, contributing to the protection of consumers and financial solvency of insurers.

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Responsibilities

Perform risk analysis of the annual statement, quarterly statements, and all other supplemental filings made by Indiana domestic insurers in accordance with National Association of Insurance Commissioners “NAIC” standards

Summarize and document results of analysis and assessment of risks based on information reviewed as well as communications with the insurer and other regulators

Correspond with insurance company executives, internal department staff, and other state, federal, or international regulators to investigate issues identified, evaluate company responses, and propose additional regulatory actions if warranted

Research, investigate, and determine if company is compliant with state laws, rules, regulations and NAIC standards and guidelines

Obtain, review, and analyze information from other sources relevant to the current and prospective financial solvency of insurers and/or groups

Perform an appropriate level or depth of review of the risk analysis and document the risk analysis findings within the NAIC standards

Perform an appropriate level or depth of the review of insurance company affiliated transactions promptly

Make recommendations regarding proposed solutions to problems, actions necessary to address outstanding issues, and actions necessary to address troubled insurance companies

Promptly communicate material adverse findings and/or relevant information to the appropriate person(s)

Review changes to Certificate of Authority including but not limited to new formations, adding, or deleting lines of business, withdrawal, merger, acquisition, etc

Prepare and present various reports or gather specific information requested by the Manager, Chief Examiner, or Commissioner

Qualification

Accounting degreePublic accounting knowledgeInsurance regulation knowledgeFinancial data analysisMS Office proficiencyOrganizational skillsInterpersonal skillsProblem-solving skillsCommunication skillsTime management

Required

Bachelor's degree in accounting from an accredited college or university

Basic to intermediate knowledge of the theories, principles, and practices of public accounting and statutory accounting

Basic to intermediate knowledge of federal and state laws, policies, and procedures as they pertain to insurance regulation

Basic to intermediate knowledge of agency organization, function, and purpose

Excellent organizational and interpersonal skills

Dependability, attention to detail, good time management, and multi-tasking skills

Flexibility and adaptability to respond quickly to issues and needs

Ability to communicate effectively with agency staff and with Indiana domestic insurers and their attorneys and executive staff

Excellent written and verbal communication skills

Ability to organize, multi-task, prioritize, and manage workflow

Excellent problem-solving and analytical skills

Ability to accurately review, track and analyze financial data

Ability to understand and write reports, data collection, and reporting procedures

Formulate sound recommendations and make appropriate decisions with the consideration of the potential impact on insurer financial solvency and regulatory compliance

Ability to analyze and audit financial reports

Ability to adapt to changing expectations and environments

Proficient with MS Word, Excel, and other related Office tools

Ability to identify solutions to complex problems

Ability to evaluate and challenge information provided by company

Ability to see big picture of insurer and/or group

Ability to receive and effectively respond to coaching and feedback

Able to perform essential functions with or without reasonable accommodation

Benefits

Three (3) medical plan options (including RX coverage) as well as vision and dental plans

Wellness Rewards Program: Complete wellness activities to earn gift card rewards

Health savings account, which includes bi-weekly state contribution

Deferred compensation 457(b) account (similar to 401(k) plan) with employer match

Two (2) fully-funded pension plan options

A robust, comprehensive program of leave policies covering a variety of employee needs, including but not limited to: 150 hours of paid New Parent Leave and up to eight weeks of paid Childbirth Recovery Leave for eligible mothers

Up to 15 hours of paid community service leave

Combined 180 hours of paid vacation, personal, and sick leave time off

12 paid holidays, 14 on election years

Education Reimbursement Program

Group life insurance

Referral Bonus program

Employee assistance program that allows for covered behavioral health visits

Qualified employer for the Public Service Loan Forgiveness Program

Free Parking for most positions

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