Financial Specialist
State of Florida
full-time
Posted on:
Location Type: Office
Location: Tallahassee • Florida • 🇺🇸 United States
Visit company websiteSalary
💰 $59,000 per year
Job Level
Mid-LevelSenior
About the role
- 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 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 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 are 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 which impact Solvency Regulation.
- Compiles evidence to be used in judicial or administrative proceedings and testifies when required.
Requirements
- Bachelor’s degree or higher from an accredited college or university with a major in accounting, finance, business, risk management and insurance or actuarial science
- Strong communications skills (both written and oral)
- Understanding of insurance operations, risks, risk management techniques, and transaction flows
- Analytical skills with the ability to pull together current financial information and update 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 multi-task, manage multiple projects, and effectively manage time
- Proficient with MS Word, Excel, and other related tools
- Proficient in use of electronic work paper documentation tools
Benefits
- health insurance
- dental insurance
- vision insurance
- retirement plans
- flexible spending accounts
- health savings accounts
- annual and sick leave
- generous holiday schedule
- flexible work schedules
Applicant Tracking System Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard skills
financial analysisoperational analysisreinsurance evaluationcompliance analysisrisk managementGAAPNAIC statutory accountingenterprise risk managementcontract analysissolvency regulation
Soft skills
strong communication skillsanalytical skillsdecision makingmulti-taskingtime management
Certifications
Bachelor’s degreerisk management and insuranceactuarial science