State of South Carolina
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Senior Auditor-Captives
role at
State of South Carolina
Job Responsibilities
Review and analyze annual and quarterly insurer financial statements and all related supplemental regulatory filings, NAIC reports, and information from other sources relevant to the current and prospective financial solvency of insurers and/or groups. Customize the nature and extent of analysis procedures performed to ensure effectiveness and efficiency of review in accordance with the size, risk, and complexity of the insurer. Completed reviews must be professionally written and conducted with an appropriate depth and quality of review. Utilize analysis performed to conclude on the insurer's priority level and provide supporting rationale. Prepare and update the Risk Assessment Worksheet (RAW), Insurer Profile Summary (IPS), Group Profile Summary (GPS), and/or any other required work papers on a timely basis to ensure that significant risks identified and ongoing monitoring plans are effectively communicated to management and other regulators, where applicable. Research complex issues including state law, state regulations, accounting standards, etc. Investigate and determine if company is in compliance with state laws, rules, regulations and NAIC standards and guidelines. Coordinate work performed with other regulatory functions and States to avoid duplication of efforts and/or requests. Correspond 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. Follow up on issues identified by other regulators, evaluate responses received, and ensure issues are properly addressed.
Complete project assignments as described in Job Duty #1 within deadlines established by supervisor(s).
Complete detailed financial analysis checklists on a timely basis for non-RRG captive insurance companies in accordance with Department procedures. Obtain, review, and analyze annual insurer financial statements and all related supplemental regulatory filings (including, but not limited to, audited financial reports and actuarial opinions). Obtain, review, and analyze information from other sources relevant to the current and prospective financial solvency of insurers and/or groups (including but not limited to public news reports, SEC filings, earning calls and releases, etc.).
Must participate in examination meetings as determined by supervisors and present overview of assigned companies, provide summary of risks identified, etc. Assist with special projects and perform other duties as assigned by supervisors
Must organize and maintain analysis files in a logical and efficient manner. Responsible for ensuring all assigned company filings, any outstanding agreements, exam documentation, and any other related review documents, including those downloaded from NAIC's I-SITE, are received and saved/uploaded to the Department's internal analysis drive and TeamMate, as applicable.
Minimum And Additional Requirements
A bachelor’s degree and professional experience in accounting, auditing, finance, insurance, or tax preparation and/or analysis.
Preferred Qualifications
Insurance designations(s) or progress towards their attainment preferred.
Appropriate coursework in accounting/auditing and 1-3 years of financial analysis related experience is preferred.
Additional Comments
Strong communication skills (both written and oral) and analytical skills with the ability to aggregate and summarize information from a wide-range of available sources. Objective, fair, reasonable, and courteous with the ability to apply professional judgment and draw sound conclusions. Ability to research and consistently apply state laws, insurance department regulations, and NAIC statutory and/or GAAP accounting practices. Ability to think critically and make decisions based on reasonable and timely analysis. Ability to identify solutions to complex problems, evaluate and challenge information provided by assigned companies, gain holistic understanding of insurer and/or group, and understand and evaluate the enterprise risk management functions of insurers.
The employee will be under the general supervision of the Supervising Financial Analyst and will utilize the guidelines of the Department as well as the NAIC. While employee has independence and discretion of daily work activities, work papers are subject to review and must be completed within timeframes established by the Department and the NAIC.
Must be able to receive and effectively respond to coaching and feedback, multi-task and manage time effectively, and adapt to changing expectations and environments. Proficient with MS Word, Excel, and other related tools. Overnight travel may be required but is not normally anticipated.
Educational Credentials
Applicants indicating college credit or degree(s) on the application will be required to submit a sealed, certified copy of the transcript(s) prior to beginning employment. Failure to produce an official, certified transcript will result in any conditional offer of employment being rescinded.
Equal Opportunity Employer
It is the policy of the South Carolina Department of Insurance to provide equal employment opportunities to all job applicants and employees and applicants without regard to their race, color, religion, national origin, sex (including, but not limited to, pregnancy, childbirth or related medical conditions and lactation), disability or age.
Veteran Preference Statement
South Carolina is making our Veterans a priority for employment in state agencies and institutions.
Benefits
Health, Dental, Vision, Long Term Disability, and Life Insurance for Employee, Spouse, and Children
15 days annual (vacation) leave per year
15 days sick leave per year
13 paid holidays
State Retirement Plan and Deferred Compensation Programs
Employee Assistance Program
Flexible Work Schedules
Free Gym Access
Growth Opportunities
Infants at Work Program
Free Parking
Other
Seniority level: Mid-Senior level
Employment type: Part-time
Job function: Accounting/Auditing and Finance
Industries: Government Administration
Columbia, SC
#J-18808-Ljbffr
Senior Auditor-Captives
role at
State of South Carolina
Job Responsibilities
Review and analyze annual and quarterly insurer financial statements and all related supplemental regulatory filings, NAIC reports, and information from other sources relevant to the current and prospective financial solvency of insurers and/or groups. Customize the nature and extent of analysis procedures performed to ensure effectiveness and efficiency of review in accordance with the size, risk, and complexity of the insurer. Completed reviews must be professionally written and conducted with an appropriate depth and quality of review. Utilize analysis performed to conclude on the insurer's priority level and provide supporting rationale. Prepare and update the Risk Assessment Worksheet (RAW), Insurer Profile Summary (IPS), Group Profile Summary (GPS), and/or any other required work papers on a timely basis to ensure that significant risks identified and ongoing monitoring plans are effectively communicated to management and other regulators, where applicable. Research complex issues including state law, state regulations, accounting standards, etc. Investigate and determine if company is in compliance with state laws, rules, regulations and NAIC standards and guidelines. Coordinate work performed with other regulatory functions and States to avoid duplication of efforts and/or requests. Correspond 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. Follow up on issues identified by other regulators, evaluate responses received, and ensure issues are properly addressed.
Complete project assignments as described in Job Duty #1 within deadlines established by supervisor(s).
Complete detailed financial analysis checklists on a timely basis for non-RRG captive insurance companies in accordance with Department procedures. Obtain, review, and analyze annual insurer financial statements and all related supplemental regulatory filings (including, but not limited to, audited financial reports and actuarial opinions). Obtain, review, and analyze information from other sources relevant to the current and prospective financial solvency of insurers and/or groups (including but not limited to public news reports, SEC filings, earning calls and releases, etc.).
Must participate in examination meetings as determined by supervisors and present overview of assigned companies, provide summary of risks identified, etc. Assist with special projects and perform other duties as assigned by supervisors
Must organize and maintain analysis files in a logical and efficient manner. Responsible for ensuring all assigned company filings, any outstanding agreements, exam documentation, and any other related review documents, including those downloaded from NAIC's I-SITE, are received and saved/uploaded to the Department's internal analysis drive and TeamMate, as applicable.
Minimum And Additional Requirements
A bachelor’s degree and professional experience in accounting, auditing, finance, insurance, or tax preparation and/or analysis.
Preferred Qualifications
Insurance designations(s) or progress towards their attainment preferred.
Appropriate coursework in accounting/auditing and 1-3 years of financial analysis related experience is preferred.
Additional Comments
Strong communication skills (both written and oral) and analytical skills with the ability to aggregate and summarize information from a wide-range of available sources. Objective, fair, reasonable, and courteous with the ability to apply professional judgment and draw sound conclusions. Ability to research and consistently apply state laws, insurance department regulations, and NAIC statutory and/or GAAP accounting practices. Ability to think critically and make decisions based on reasonable and timely analysis. Ability to identify solutions to complex problems, evaluate and challenge information provided by assigned companies, gain holistic understanding of insurer and/or group, and understand and evaluate the enterprise risk management functions of insurers.
The employee will be under the general supervision of the Supervising Financial Analyst and will utilize the guidelines of the Department as well as the NAIC. While employee has independence and discretion of daily work activities, work papers are subject to review and must be completed within timeframes established by the Department and the NAIC.
Must be able to receive and effectively respond to coaching and feedback, multi-task and manage time effectively, and adapt to changing expectations and environments. Proficient with MS Word, Excel, and other related tools. Overnight travel may be required but is not normally anticipated.
Educational Credentials
Applicants indicating college credit or degree(s) on the application will be required to submit a sealed, certified copy of the transcript(s) prior to beginning employment. Failure to produce an official, certified transcript will result in any conditional offer of employment being rescinded.
Equal Opportunity Employer
It is the policy of the South Carolina Department of Insurance to provide equal employment opportunities to all job applicants and employees and applicants without regard to their race, color, religion, national origin, sex (including, but not limited to, pregnancy, childbirth or related medical conditions and lactation), disability or age.
Veteran Preference Statement
South Carolina is making our Veterans a priority for employment in state agencies and institutions.
Benefits
Health, Dental, Vision, Long Term Disability, and Life Insurance for Employee, Spouse, and Children
15 days annual (vacation) leave per year
15 days sick leave per year
13 paid holidays
State Retirement Plan and Deferred Compensation Programs
Employee Assistance Program
Flexible Work Schedules
Free Gym Access
Growth Opportunities
Infants at Work Program
Free Parking
Other
Seniority level: Mid-Senior level
Employment type: Part-time
Job function: Accounting/Auditing and Finance
Industries: Government Administration
Columbia, SC
#J-18808-Ljbffr