Financial Analyst I

Introduction
APPLICATION INSTRUCTIONS:

Submit resumes to : angie.powers@oid.ok.gov
#06-10- The Oklahoma Insurance Department has an opening in the Financial Division for a Financial Analyst I. The vacant position is a Level 1 in the Financial Analyst Career Path, with a salary range of $39,000 to $48,750. This position is open until filled.

DEFINITION:

Under administrative direction of the Chief Financial Analyst, complete financial and statutory review of assigned licensed insurance companies and various other entities.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Review and analyze filings and financial statements of assigned companies for risk assessment, financial stability, solvency and statutory compliance; use NAIC tools and guidelines to perform the analysis

• Identify concerns, recommend resolutions and forward the report to the chief financial analyst

• Along with the chief financial analyst and the chief examiner, meet with various representatives of assigned insurance companies to discuss financial condition, statutory compliance and other problems as required

• Collaborate and monitor financial stability of multi-state companies with other state insurance departments

• Initially review the financial and market conduct examination reports turned in by examiners

• Create information packets for examinations; attend examination meetings and interview, follow-up on examination report exceptions ensuring corrective action has been taken

• Handle both oral and written communications from the general public

• Review initial application, admission documents, and financial reports; review A.M. Best, S&P and re-insurers; analyze company and parent; make recommendations to accept or deny applications

• Attend insurance related training

• Execute other duties as assigned

KNOWLEDGE, SKILLS and ABILITIES:

Basic knowledge of insurance accounting required, including statutory accounting principles as well as generally accepted accounting principles, and applicable state statutes preferred. An understanding of Enterprise Risk Management (ERM) and risk assessment. Proficiency in Microsoft Office, specifically Excel, Word, Access and Outlook. The ability to understand statutes, policies and procedure and apply them to conduct the business of the Department. The ability to maintain effective working relationships, possess time management skills and the ability to work independently. Strong communication and organizational skills.

EDUCATION AND EXPERIENCE:

Bachelor’s degree in accounting, insurance, finance, or actuarial science with 0-3 years of related experience. This is an entry-level position at the OID. Employees in these positions receive supervision on a day-to-day basis to ensure that the OID’s quality of work product is met. Employees in Level One positions may be cross trained to perform the duties of other similar positions. Preference may be given to applicants who have completed the following designations: CPA, CFE, AFE, CIE, AIE, FLMI, CPCU.

NOTE:

Employees of the Oklahoma Insurance Department cannot have an immediate relative who is financially interested, directly or indirectly, in any insurer, agency or insurance transaction (except as a policyholder or claimant).

The selected applicant must not have a felony conviction and must pass a background check.

Individual may be required to pursue NAIC designations as job duties require.

Employees of the Oklahoma Insurance Department are unclassified employees of the state. For benefits offered by the State of Oklahoma to employees of the state, please use this link to access the Office of Personnel Management benefits page at: http://www.ok.gov/opm/HR_and_Employee_Services/index.html

EEO/AA

Conclusion
Veteran’s Preference Points Apply only for initial appointment in the Classified Service.