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FINANCIAL SPECIALIST - 43000448 (Office of Insurance Regulation)

Date:  Jun 8, 2022
Location: 

TALLAHASSEE, FL, US, 32399


The State Personnel System is an E-Verify employer. For more information click on our E-Verify Website.

Requisition No: 634563 

Agency: Financial Services

Working Title: FINANCIAL SPECIALIST - 43000448 (Office of Insurance Regulation)

Position Number: 43000448 

Salary:  $43,507.32 

Posting Closing Date: 07/08/2022 

*****OPEN COMPETITIVE EMPLOYMENT OPPORTUNITY *****

DIVISION: OFFICE OF INSURANCE REGULATION
BUREAU: PROPERTY AND CASUALTY INSURER SOLVENCY

CITY: TALLAHASSEE 

COUNTY: LEON

SPECIAL NOTES:                                                                                                  
Requirement:

  • A Bachelor’s degree or higher from an accredited college or university with a major in accounting; OR
  • A Bachelor’s degree or higher from an accredited college or university that meets the following criteria:
    • A major in finance, economics, business management, risk management and insurance, or actuarial science; and
    • Contains six semester hours of accounting fundamentals as determined by the Office; and
    • Three semester hours of finance or economics; and
    • Three semester hours of business law (please note this last requirement can be met through the completion of a college course or a similar course offered by either The Institutes as part of the CPCU program, the Life Office Management Association (“LOMA”) as part of the one of its programs; and the American College of Financial Services as part of its Chartered Life Underwriter program (“CLU”).
    • Three semester hours of a business management course (please note this last requirement can be met through the completion of a college course or a similar course offered by either The Institutes as part of the CPCU program, the Life Office Management Association (“LOMA”) as part of the one of its programs; and the American College of Financial Services as part of its Chartered Life Underwriter program (“CLU”).

 

Preference will be given to applicants who have additional education in the form of having taken three semester hours of auditing or having passed the Auditing Section of the CPA exam.

 

Preference will be given to applicants who have successfully completed coursework pertaining to preparing and analyzing complex business financial statements prepared on either a GAAP or Statutory basis, or have job-related experience doing these things.

 

Preference will be given to applicants who have experience in the analysis of written documentation or other data.

 

Preference will be given to applicants who have experience in writing reports, memoranda, business letters or other forms of written communication.

 

Preference will be given to applicants who have professional experience regarding insurance financial systems or statements.

 

Applicants will be required to complete an exam or work sample to evaluate their insurance knowledge and skills in reading, comprehension, and application of the Florida statutes.

 

Applicants may be asked to provide transcript to verify education requirement.

 

The starting annual salary for this position is $43,507.32.

 

Some travel may be required.

 

This position requires a security background check, including fingerprint as a condition of employment. 

 

Employees of the Department of Financial Services are paid on a monthly pay cycle. 

 

Responses to qualifying questions must be clearly supported by the state application and any omission, falsification or misrepresentation in the answering of the qualifying questions will be cause for immediate elimination from the selection process.

 

Minimum Qualifications for this position include the following REQUIRED ENTRY LEVEL KNOWLEDGE, SKILLS AND ABILITIES:

  • Ability to use logic and analysis to identify and correct problems.
  • Ability to use own judgment and make independent decisions.
  • Ability to effectively communicate both verbally and in writing.
  • Ability to establish and maintain effective working relationships with others.
  • Ability to research and apply applicable guidance
  • Proficient with using Microsoft Office Suite and other computer software programs.
  • Ability to multi-task, manage multiple projects, and effectively manage time
  • Ability to adapt to changing expectations and environments

 

The Florida Office of Insurance Regulation (OIR) strives to promote a stable and competitive insurance market for consumers. With a workforce of approximately 250 staff members, OIR regulates one of the largest, most complex insurance markets in the world.  

 

OIR offers a range of challenging and rewarding opportunities for individuals looking to grow in their career and offers a wide variety of top insurance industry-related courses and professional certifications to ensure that its staff has the industry knowledge needed to succeed. OIR employees also have access to the State of Florida’s tuition waiver program, which offers educational assistance to all full-time, salaried employees.

 

As a State Agency, OIR offers excellent benefits such as health insurance, dental insurance, vision insurance, retirement plans, flexible spending accounts, health savings accounts, and much more. OIR also offers annual and sick leave, a generous holiday schedule, and flexible work schedules.

 

Click the links below to see the many benefits and retirement options you have as a State of Florida employee.

https://www.mybenefits.myflorida.com/

https://www.myfrs.com/ContactUs.htm

 

BRIEF DESCRIPTION OF DUTIES:

This position is a part of OIR’s Examination Unit which conducts examinations of the affairs, transactions, accounts, records, and assets of each authorized insurer as required by Section 624.316, F.S. The primary duties, responsibilities, and educational requirements are taken from the National Association of Insurance Commissioner’s (“NAIC”) Financial Condition Examiners Handbook (“FCEH”), which the Office has adopted by Rule, and the National Association of Insurance Commissioner’s Accreditation Program Manual. This position requires extensive training and education and requires the employee to exercise discretion and judgment in determining the appropriate action based on the financial condition, current solvency risks and prospective solvency risks of the insurance company being examined.

 

Examination duties:

    • This position will perform financial examinations of insurance companies and may require travel throughout the State of Florida and may include some travel to other states.
    • Participate in risk focused examinations (as defined by the FCEH and Accreditation Manual) of domestic and foreign insurance companies and work within the guidelines of Florida laws, regulations, and policies
    • Provides technical expertise through participation in informal meetings and testimony in hearings and support documented findings of examination.
    • Analyze, research, or perform research on complex issues including State law, State regulations, accounting standards, etc.
    • Review/edit draft examination reports, management letters, summary review memorandums or other key documents.

 

Develop Professionally:

    • Gain industry knowledge and participate in training courses to develop new, and improve upon existing, skills to improve execution and effectiveness of the financial examination process.
    • Stay apprised of industry trends through review of business journals, industry publications, etc. to determine impact on insurers in State and continue to improve focus and execution of the financial analysis process regulatory.
    • Participate in and successfully complete assigned areas of the OIR Practical Training and Talent Development for Examiners.
    • Participate in NAIC-related activities, and other professional development, as required.

 

Perform other related work as directed by the OIR.

 

If you are a retiree of the Florida Retirement System (FRS), please check with the FRS on how your current benefits will be affected if you are re-employed with the State of Florida. Your current retirement benefits may be canceled, suspended or deemed ineligible depending upon the date of your retirement.

 

The State of Florida is an Equal Opportunity Employer/Affirmative Action Employer, and does not tolerate discrimination or violence in the workplace.

Candidates requiring a reasonable accommodation, as defined by the Americans with Disabilities Act, must notify the agency hiring authority and/or People First Service Center (1-866-663-4735). Notification to the hiring authority must be made in advance to allow sufficient time to provide the accommodation.

The State of Florida supports a Drug-Free workplace. All employees are subject to reasonable suspicion drug testing in accordance with Section 112.0455, F.S., Drug-Free Workplace Act.

VETERANS’ PREFERENCE.  Pursuant to Chapter 295, Florida Statutes, candidates eligible for Veterans’ Preference will receive preference in employment for Career Service vacancies and are encouraged to apply.  Certain service members may be eligible to receive waivers for postsecondary educational requirements.  Candidates claiming Veterans’ Preference must attach supporting documentation with each submission that includes character of service (for example, DD Form 214 Member Copy #4) along with any other documentation as required by Rule 55A-7, Florida Administrative Code.  Veterans’ Preference documentation requirements are available by clicking here.  All documentation is due by the close of the vacancy announcement. 


Nearest Major Market: Tallahassee