Salary: $5,161.87 - $6,451.47 per month
The Financial Examiner position monitors the solvency of Wyoming insurance companies by performing risk-focused examinations and financial analysis of insurance companies annual and quarterly statements
Responsible for obtaining the Certified Financial Examiner (CFE) designation after hire.
Plans, performs, and issues reports of examination of all Wyoming domestic insurance companies in accordance with Wyoming Statutes and NAIC standards for the purpose of monitoring financial solvency and statutory compliance.
Reviews and gains an understanding of insurer operations, including its corporate governance structure and its enterprise risk management framework through a review of regulatory filings, discussions with Department staff, discussions with company personnel, review of public information, review of industry trends and other sources of information as applicable
Exercises judgment to identify and assess financial solvency risks facing the company, from both a current and prospective risk perspective.
Identify relevant controls and/or risk mitigation strategies to address risks identified and perform tests of controls to evaluate their effectiveness, as appropriate.
Performs and documents the financial analysis of domestic insurance companies in accordance with Wyoming Statutes and NAIC standards for the purpose of monitoring financial solvency.
Summarizes and documents results of analysis and assessment of risks based on information reviewed as well as communications with the insurer and other regulators.
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.
Investigates and determines if the company is in compliance with state laws, rules, regulations, and NAIC standards and guidelines.
Coordinates and meets with consulting actuaries and insurers' CPA firms.
Reviews applications of insurance companies applying for a license in Wyoming for compliance with statutory requirements; makes recommendations to approve or deny the application.
Reviews financial statements, plans of operation, actuarial opinions, CPA reports, contracts, corporate documents, complaints, and regulatory actions, holding company act filings, and biographical affidavits.
Performs annual review of insurance companies' premium tax returns to determine proper calculations and payments to the State of Wyoming.
Performs examinations on pre-need funeral homes and perpetual care cemeteries.
Bachelor's Degree (typically in Accounting or Finance)
1-2 years of progressive work experience (typically in Accounting or Finance)
Certificates, Licenses, Registrations:
Certification as a Certified Financial Examiner (CFE) or Certified Public Accountant (CPA)