33 INSURANCE FINANCIAL ANALYST Jobs in Nashville, TN
State of Tennessee is Hiring an INSURANCE FINANCIAL ANALYST Near Nashville, TN
Location: Davidson County
Last Day to Apply: May 27, 2024
Business Unit: Other Prof Svcs
Job Family: Commerce and Insurance
Job Opening ID: 57920
Job Information
State of Tennessee Job Information
LOCATION OF (1) POSITION(S) TO BE FILLED: DEPARTMENT OF COMMERCE & INSURANCE, INSURANCE DIVISION, DAVIDSON COUNTY
Qualifications
Education and Experience: Graduation from an accredited college or university with a bachelor’s degree in accounting, finance, economics, insurance, risk management or a related field and one year of professional experience in any of the following fields: accounting; auditing of financial records and management practices; or financial/insurance work in risk or policy/procedure analysis.
Substitution of Education for Experience: Graduation from an accredited college or university with a master’s degree in Business Administration or Accounting.
Necessary Special Qualifications: None.
Examination Method: Education and Experience, 100%, for Preferred Service positions.
Summary
Summary: Under direct supervision, is responsible for risk-focused financial analysis for insurance companies of average difficulty; and performs related work as required.
Distinguishing Features: This is the working level class in the Insurance Financial Analyst series. An employee in this class is responsible for identifying risks for insurance companies by providing continuous off-site monitoring of an insurance company’s financial condition, monitoring internal/external changes relating to all aspects of the company to identify risks and works with examinations staff to review specific risks for on-site examination. This class differs from the Insurance Financial Analyst SR in that an incumbent of the latter functions in a lead role and is assigned more complex insurance companies to analyze, which may include companies with a higher premium volume, larger net worth, or higher priority rating.
Responsibilities
- Analyzes several risk categories within an insurance company to determine current and prospective financial solvency of the company: follows assessment procedures outlined in the National Association of Insurance Commissioner’s (NAIC) Financial Analysis Handbook; fills out risk assessment charts; interprets TN rules and regulations are ensures compliance.
- Gathers all relevant information needed to conduct analysis of a company: obtains insurer’s statutory and audited financial statements and all related supplemental regulatory filings (e.g. actuarial opinions, Enterprise Risk Reports, holding company filings, etc.); pulls insurer’s financial profile information from the NAIC application; searches for any other outside sources of information that may be relevant to analysis such as Securities and Exchange Commission filings, earning calls and releases, public news reports, etc.
- Determines and ensures that companies comply with NAIC standards/guidelines and Tennessee state laws, rules, and regulations through appraising all gathered information of a company.
- Documents and summarizes results of analysis and assessment of risks: updates the Insurer Profile Summary and/or Group Profile Summary in designated audit software; presents results of analysis to division leadership and other regulators and makes recommendations based on findings.
- Corresponds 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; conducts follow-ups on issues identified by other regulators.
- Attends NAIC working group calls: takes notes of information discussed and specific updates about companies or processes.
Competencies
Competencies:
- Business Acumen
- Ethics and Values
- Functional/Technical Competency
- Integrity and Trust
- Learning on the fly
- Listening
- Organizing
- Priority Setting
- Time Management
- Written Communications
Knowledge:
- Administration and Management
- Computers and Electronics
- Customer and Personal Service
- Economics and Accounting
- English Language
- Law and Government
- Mathematics
Skills:
- Active Learning
- Active Listening
- Critical Thinking
- Judgment and Decision Making
- Reading Comprehension
- Speaking
- Time Management
- Writing
Abilities:
- Deductive Reasoning
- Fluency of Ideas
- Inductive Reasoning
- Information Ordering
- Mathematic Reasoning
- Number Facility
- Oral Comprehension
- Oral Expression
- Written Comprehension
- Written Expression
Tools & Equipment
- Computer
- Phone
- Copier/Scanner
- Printer
Job Summary
Full Time
Public Administration
$59k-74k (estimate)
05/16/2024
07/14/2024
tn.gov
NASHVILLE, TN
15,000 - 50,000
1976
Private
BILL LEE
$10B - $50B
Public Administration
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About State of Tennessee
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