CAREERS

FINANCIAL EXAMINER

Salary: $5,161.87 - $6,451.47 per month

GENERAL DESCRIPTION:

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

ESSENTIAL FUNCTIONS:

  • 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.

MINIMUM QUALIFICATIONS:

Education:

Bachelor's Degree (typically in Accounting or Finance)

Experience:

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)

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