Financial Examiner

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Job description

Description :

Do you have an accounting and/or finance degree with strong analytical skills, an inquisitive mind, willingness to travel, and a desire to learn in an ever-changing industry? Are you looking for a challenging career with a built-in track for growth and advancement? Is work-life balance, supportive management and an open-door culture important to you? Are you ready to join a successful team responsible for regulating one of the largest domestic insurance industries in the United States? If so, the Nebraska Department of Insurance has an exciting opportunity for you to join our Financial Examination team as a Financial Examiner!

Who we are: The Nebraska Department of Insurance exists for one very important reason: to protect you, the consumer. Our mission is to safeguard all those affected by the business of insurance through the fulfillment of our statutory obligations and by promoting the fair and just treatment of all parties to insurance transactions. To fulfill this role, we have approximately 100 team members. We work with other regulators both nationally and internationally, and with the National Association of Insurance Commissioners to fulfill our roles and responsibilities. Additional information about the Nebraska Department of Insurance can be found on our website: . What we do: Insurance is a unique product in that an insurance company collects premiums upfront with the promise to pay in the future; as a result, there is strong need for financial regulations and related ongoing monitoring to ensure insurance companies remain solvent. Our Financial Examination Division is responsible for monitoring the financial solvency of one of the largest domestic industries in the country. As part of our financial solvency monitoring, we conduct ongoing analysis of quarterly financial statements and other statutory filings and conduct on-site financial examinations every three to five years. We take a risk-focused approach and strive to identify financial issues early to address problems and/or rehabilitate companies prior to insolvency. Our financial examiners are experts in evaluating the processes and controls for more than one hundred (100) insurance companies, which is a very important service to the citizens of Nebraska, as well as citizens in other states. Why work for the Nebraska Department of Insurance? The Nebraska Department of Insurance is nationally one of the most well-respected insurance departments. We take great pride in what we do and strive to provide an excellent work environment for our team.

A Financial Examiner would enjoy the following benefits while working for the Department:
• Engaging and challenging work
• Supportive management and open-door policy
• Knowledgeable, friendly and fun team
• Work-life balance with focus on providing flexibility
• Excellent health and wellness benefits
• Formal onboarding, training and development program to set-up any new team member for success
• Opportunities for growth and advancement, including opportunity for advancement to Financial Examiner II within two years and Senior Financial Examiner within three years** **Advancement contingent upon satisfactory job performance and obtaining Society of Financial Examiners designations. Any applicants that already have an AFE (Accredited Financial Examiner) or CFE (Certified Financial Examiner) designation, salary will be adjusted to the minimum range: AFE - $56,462/annual and CFE - $72,272/annual.

This is an At-Will position and is under the discretion of the Director of Insurance.

Examples of Work :

Primary roles and responsibilities: 1. Extensively work on site at insurance companies verifying financial and non-financial information. 2. Work both independently as well as in conjunction with a team of fellow examiners in a variety of work environments. 3. Investigate insurance company activities and determine if an insurance company is in conformity with insurance industry accounting standards "Statements of Statutory Accounting Practices" (SSAP). 4. Investigate and analyze insurance company policies, procedures, operations and controls to detect possible regulatory statute violations and solvency concerns. 5. Review and verification of insurance company's recordings of accounting transaction activities include but not necessarily limited to review of journal entries, ledgers, trial balances and various supporting source documentation. 6. Assist in the verification and review of insurance company information and data which supports items such as assets, net worth, liabilities, capital stock, surplus, income and expenditures.

In-state and out-of-state travel is required within this position. Applicants must have ability to travel out-of-state for up to two weeks at a time. A significant amount of the work is performed in the Omaha area.

Qualifications / Requirements :

REQUIREMENTS: Bachelor's Degree from an accredited college or university in a business-related field (accounting, economics, finance, risk management, etc.) with at least 15 accounting hours, including auditing, and at least three hours of Business Law. Accounting/auditing work experience is beneficial. Advancement does require completion of at least three hours of management coursework which can be acquired after hire, as well as meeting other requirements such as experience and verification of proven technical abilities. Copies of your Transcripts, Cover Letter, Resume and References must be provided with the application and prior to any formal interview.

OTHER: In-state and out-of-state travel is required within this position. Applicants must have ability to travel out-of-state for up to two weeks at a time. A significant amount of the work is performed in the Omaha area. A valid driver's license or ability to provide independent authorized transportation is required. Regular and reliable attendance is also required for this position.

Knowledge, Skills and Abilities :

• Analytical mindset
• Organized
• Detail-oriented
• Self-starter and ability to work independently with support
• Knowledge of theory and practice of accounting and auditing
• Working knowledge of Microsoft Excel, Word, and Outlook
• Ability to analyze financial data, company operations and preparation of reports
• Effective communication skills to present information, comments, and recommendations clearly, concisely, and comprehensively
• Have an interest in making investigation inquiries to insurance companies regarding their accounting, processes, and controls

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