Insurance Company Examiner - Risk Focused Financial Examiner

Department of Professional and Financial Regulation (and Boards) - Bureau of Insurance/Examination Division

Job Class Code: 0366

Grade: 22 (Professional/Technical)

Salary: $54,662 - $61,443

Location: Gardiner, ME

Opening Date: March 15, 2024

Closing Date: March 31, 2024

As a public servant within the Bureau of Insurance, the Insurance Company Examiner will contribute to the Bureau's mission to protect Maine consumers by performing risk focused financial examinations of insurance companies.

Employment time qualifies as experience toward CPA requirements on an hour for hour basis. This classification is eligible for a stipend of up to 21% of the hourly rate of pay for employees who maintain either the CPA and/or the CFE designation.

Primary responsibilities include:

• Examines and analyzes assets and liabilities, surplus and other funds, statements of income, cash flow, as well as supporting exhibits, schedules, and notes to the financial statements of insurance companies.

• Reviews company compliance with applicable laws, rules, regulations and standards.

• Assesses risks of insurance related entities, including inherent risks, risk mitigation strategies, residual risk, and prospective risks in order to determine appropriate financial analysis or examination procedures.

• Performs tests of controls, and analyzes data processing applications in order to assess company internal control environment.

• Reviews appropriate investment documentation in order to confirm asset value and asset existence.

• Performs substantive testing on assigned accounts in order to validate information presented in the financial statements.

Minimum qualifications:

A Bachelors Degree in Accounting or closely related field -OR- an acceptable four (4) year equivalent combination of education, training, and experience.