Senior Insurance Examiner (Specialist)
California State Personnel Board Specification
Definition
Under general direction, to conduct examinations of the largest most complex insurance companies to determine their financial status, solvency and the legality and propriety of their operations; and to do other related work.
Typical Tasks
Conducts examinations of accounts, records and affairs of the most complex insurance companies; plans the scope of the examination; analyzes such items as real estate and other investment transactions for legality, valuation and proper classification of reporting of income received and accrued and expenses paid and accrued; reviews articles of incorporation, bylaws, minutes of the board of directors and various committees to determine effectiveness of company management and compliance with the Insurance Code and regulations of the Insurance Commissioner; oversees the preparation of working papers; acts as leadperson or examiner-in-charge in the conduct of the examination and advises examiners on technical questions and policy matters; conducts the preparation of a factual report on the examination, personally prepares the more difficult sections and consolidates reports of branch office and home office examinations; discusses with company officials sections of the report as they are completed; when assigned as zone representative, participates in Association examinations and acts as leadperson to examiners from other states in the completion of major phases of these examinations.
May act as leadperson or examiner-in-charge of other examiners engaged in examining accounts and records of insurance companies.
Minimum Qualifications
Either I
One year of experience in the California state service performing the duties of an Associate Insurance Examiner.
Or II
Experience: Five years of increasingly responsible professional experience in examining the financial condition and activities of insurance companies. For at least two years, this responsibility must have been at a level equivalent to conducting examinations of large insurance companies. and Education: Either
1. Equivalent to graduation from college with specialization in insurance. or
2. Completion of either:
(a) A prescribed professional accounting curriculum given by a residence or correspondence school of accountancy, including courses in elementary and advanced accounting, auditing, cost accounting and business law. or
(b) The equivalent of sixteen semester hours of professional accounting courses given by a collegiate grade residence institution, including courses in elementary and advanced accounting, auditing and cost accounting; and three semester hours of business law. (A course in statistics may be substituted for cost accounting.) or
3. Equivalent to graduation from college including nine units of insurance or actuarial science and at least six semester hours of accounting courses. (Experience with an insurance company performing professional accounting, technical underwriting or claims work may be substituted for the educational requirements on the basis of one year of experience for each year of college work up to a maximum of two years. Work experience may not be substituted for the required accounting courses.)
Knowledge and Abilities
Knowledge of: General accounting and auditing principles and procedures; specialized financial examining practices and procedures as used in insurance examining; insurance accounting and uniform accounting systems prescribed for insurance companies; financial organization and practices of various types of insurance companies; provisions of the law governing insurance companies, related legal opinions and court decisions and departmental policies, rules and regulations; organization and operations of the Department of Insurance with particular reference to the insurance examining program; business law.
Ability to: Apply general accounting and auditing principles and procedures; specialized financial examining practices and procedures and provisions of the law governing insurance companies, related legal opinions and court decisions, and departmental policies, rules and regulations; act in a lead capacity in examining accounts and records of insurance companies subject to State regulation; gather, organize and summarize financial data; analyze data and draw sound conclusions; analyze situations accurately and adopt an effective course of action; prepare clear, complete, concise reports; establish and maintain cooperative relations with those contacted in the work; communicate effectively.
Special Requirements
Willingness to travel and work away from the headquarters office.
