Insurance Company Examiner - North Carolina Office of State Human Resources - Wake County, NC

Insurance Company Examiner - North Carolina Office of State Human Resources - Wake County, NC -

RECRUITMENT RANGE: $48,920- $56,840 DEPENDING ON EXPERIENCE
This can be a key place working within the Monetary Examination Part of the Monetary Analysis Division. This worker will take part on the monetary situation examinations of insurance corporations which are domiciled in NC using the newest automated methods to doc danger assessments, develop an general examination strategy, execute the analysis/testing of controls in info know-how environments, and put together written feedback, suggestions, and conclusions relating to work carried out. Work includes the examination of statutory monetary statements to entry the monetary situation, legality, and propriety of operations. The place may have the chance to work together with individuals in any respect ranges inside the insurance corporations in addition to inside this Division. The work is guided by state legal guidelines and laws, Departmental insurance policies and procedures, and steerage offered by the Nationwide Affiliation of Insurance Commissioners.

Information, Expertise and Talents / Competencies

Competencies/Information, Expertise and Talents Required:
Information of monetary statements and the power to determine areas of concern, together with the power to analysis, perceive, and apply technical info;
Information of usually accepted accounting rules, monetary evaluation procedures, and usually accepted auditing requirements, in addition to the power to quickly develop an understanding of statutory accounting, and developments associated to these requirements;
Information and skill to make use of info know-how software program, together with enough expertise to make use of Division evaluation methods and help within the updates of these techniques;
Capacity to use information independently;
Means to handle time successfully to make sure that tasks are accomplished in a well timed method;
Potential to use information towards creating suggestions and conclusions;
Means to doc information, findings, conclusions, and proposals; and
Potential to speak successfully each verbally and in writing with most of the people, Division management, and management of the regulated entities via written and verbal means;
Minimal Schooling and Expertise Necessities

REQUIREMENTS: Bachelor’s Diploma from an accredited school or college, with applicable programs in accounting as outlined in 21 NCAC 8A.0309 (at the least 24 hours of accounting) and different programs required to qualify as a candidate for the Uniform Licensed Public Accountant Examination, based mostly on examination necessities in impact on the time of commencement and two years expertise in auditing insurance firm operations or intently associated accounting or auditing work, or an equal mixture of schooling and expertise.

If no candidates are discovered on the Journey degree, then the Division will think about the hiring of a Contributing degree/Trainee candidate. Under are the competencies/information, expertise and skills in addition to the necessities for the Contributing degree.

Competencies/Information, Expertise and Talents Required of Contributing Degree Candidates:

Reveal a common understanding of monetary statements, monetary ratios, and the influence of journal entries on monetary assertion elements and exhibit the power to use information successfully with relevant info know-how software program and techniques.
Show a basic understanding of usually accepted accounting rules (GAAP), reporting tips, and usually accepted auditing requirements.
Show a want to acquire further information and to pursue further coaching and/or skilled designations. (i.e. Licensed Public Accountant, Licensed Monetary Examiner, Accredited Monetary Examiner, Licensed Info Techniques Auditor, and so forth.).
Reveal a basic understanding of insurance ideas, which embrace how insurance is used to handle danger and scale back uncertainty, circumstances for insurability of danger exposures, and the important thing ideas underlying insurance contracts. Exhibit a basic understanding of enterprise dangers and operations.
Reveal a basic understanding of the varied features concerned in processing monetary transactions and getting ready monetary statements for insurance corporations and different regulated entities. Show an understanding of info techniques.
Exhibit a basic understanding of monetary regulatory features for shopper safety together with regulation of firm admissions, capital requirements, reserve necessities, funding restrictions, monetary necessities, solvency monitoring, intervention, and warranty funds. Reveal the power to study Nationwide Affiliation of Insurance Commissioners (“NAIC”) requirements and tips and numerous provisions of Chapter 58 of the North Carolina Basic Statutes.
Exhibit a common understanding of monetary assertion danger, inner controls, and accuracy and completeness testing. Show the power to look at/audit insurance operations, monetary transactions, and knowledge methods.
Collect and doc detailed explanations on numerous processes, transactions, inner controls, and recognized areas of considerations associated to the right recording and reporting of account balances. Demonstrates the power to find out compliance with relevant requirements, rules, legal guidelines, and laws; interprets, evaluates and summarizes outcomes successfully. Show capability to finish work inside prescribed timeframes.
Apply skilled requirements to documentation of work and talk concise and complete info on issues of routine complexity inside established tips; present applicable documentation to help conclusions. Advocate corrective motion when mandatory based mostly on acquired information and remark of greatest practices whereas sustaining confidentiality.
Show the power to be proactive when looking for solutions to questions, addressing considerations and acquiring suggestions on work carried out.
Successfully talk in knowledgeable method, orally and in writing, info suited to the traits and wishes of the viewers. Pay attention and reply appropriately to others and develop and keep skilled working relationships. Usually talk with decrease degree employees of regulated entities. Make basic suggestions for any formal written findings, or could also be delegated last duty for parts of findings topic to in depth evaluate.

Necessities for Contributing Degree :
Bachelor’s Diploma from an accredited school or college, with applicable programs in accounting as outlined in 21 NCAC 8A.0309 (at the least 24 hours of accounting) and different programs required to qualify as a candidate for the Uniform Licensed Public Accountant Examination, based mostly on examination necessities in impact on the time of commencement.

Particular Most popular Necessities for Contributing Degree :
Current related schooling
Profitable completion of some (or ideally all) elements of the CPA, CFE, or AFE examination
Some public accounting expertise, which may embrace work as a university intern
Profitable completion of school internships associated to accounting coursework
Masters of Accounting Diploma
Lively involvement in accounting societies and accounting skilled associations

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