State Of Arizona Phoenix , AZ 85002
Posted 2 weeks ago
DEPARTMENT OF INSURANCE AND FINANCIAL INSTITUTIONS
The Department of Insurance and Financial Institutions licenses, monitors, investigates, examines, and ensures the safety and soundness of, regulated entities. The Department also helps resolve consumer complaints against financial-services and insurance entities; takes action in response to violations of law; encourages competition, innovation, and economic development; collects taxes and assessments that support State government operations; combats auto theft and insurance fraud through public awareness campaigns, and funding for law enforcement and dedicated prosecutors.
Our mission is to help Arizonans receive the benefits and protections to which they are legally entitled by enforcing insurance and financial institution laws and by providing information and assistance and to combat vehicle theft.
SENIOR INSURANCE ANALYST
Job Location:
100 North 15th Avenue
Phoenix, Arizona 85007
Posting Details:
Annual Salary Range: $63,800 - $66,000
Grade: 22
This position will remain posted until filled
Job Summary:
This position helps protect Arizona Insurance Consumers by reviewing insurance policy forms to identify misleading, deceptive, or ambiguous insurance language. Reviewing insurer rating algorithms and underwriting rules to determine that rates or rules are not excessive, insufficient or unfairly discriminatory and that the benefits are reasonable in relation to the premiums charged to consumers.
This position assists the insurance market by promptly reviewing rate, rule and form filings to ensure they meet the requirements of Arizona law, thereby ensuring a level and competitive insurance market for the benefit of Arizona Insurance Consumers.
This position also provides input into communication- and process- improvement initiatives to improve the efficiency and effectiveness of the Department in performing its regulatory responsibilities.
Job Duties:
Review policy/contract forms, advertising, and/or rate related filings to ensure compliance with existing insurance laws and regulations and Department policy; identify and communicate with filers orally and in writing about form, rate, or advertisement filing deficiencies and regulatory issues; evaluate responses for compliance and additional issues; seek management assistance when appropriate to resolve significant legal and regulatory issues. Participate in the analysis and review of property and casualty rate filings, performing mathematical calculations and applying accepted actuarial techniques as necessary to verify credibility of insurer's actuarial justification of its premium rates; determines whether filing meets statutory requirements that rates cannot be excessive, inadequate, or unfairly discriminatory; and recommends approval or disapproval of filing
Complete tasks and special projects assigned by Department or Division leadership to improve the efficiency and effectiveness of the Department's regulation of insurance forms and rates and to evaluate the availability and affordability of insurance; develop and implement system improvements; draft and administer surveys to insurers and other stakeholders; evaluate responses to surveys and compile data analysis; and, recommend and draft changes to Arizona laws and rules, orders, substantive policy statements, policies, procedures, forms, tools, guidance, instructions, and other information
Work with division management to interpret new laws or regulations, to develop and update systems, processes, policies, procedures, forms, instructions, and guidance
Research applicable statutes, regulations, and published insurance reference materials, and coordinate with other divisions, agencies or entities as necessary, to help draft responses to inquiries submitted to Department or Division leadership by consumers, legislators, legislative staff, Governor's Office personnel, other agency personnel, other federal and state agencies; personnel, other states' insurance regulators, media, consumer, the NAIC, or attorneys
Participate with division management in intra- and inter-divisional communication and education, and to provide communication and education to insurers that file forms and rates with the Department
Other duties as assigned as related to the position
Knowledge, Skills & Abilities (KSAs):
Knowledge:
Knowledge of insurance industry regulation, including Department of Insurance administrative law procedures, applicable Arizona Revised Statutes and Arizona Administrative Code, applicable case law, and applicable federal law and regulations
Knowledge of the National Association of Insurance Commissioners (NAIC) and its systems, including the System for Electronic Rate and Form Filings (SERFF)
Knowledge of the structure of the various Arizona insurance markets, industry practices, and insurance company operations
Knowledge of advanced property, casualty, insurance types and rating principles, purpose, and techniques
Knowledge of law, regulations, and case law related to property and casualty lines of insurance
Knowledge of insurance contract language, coverages, exclusions, and limitations of liabilities
Knowledge of personal and/or commercial property and casualty insurance concepts
Knowledge of accounting and statistical practices and insurance concepts
Knowledge of actuarial practices
Skills:
Skill in using web-based systems for tracking or creating records, managing workflow/case load, and communicating with insurers and consumers
Skill in using web-based data sources to identify and collect pertinent information, incorporate it into reports, and utilize it in analysis
Skill in using Google Sheets, Docs, Forms, and Microsoft Excel, Adobe Acrobat, and Tableau or equivalent programs
Skill in organization, research, innovation, time management, use of judgment, and confidentiality
Skill in interpersonal relations, customer service, and business communication
Skill in problem solving, objective analysis, and decision making
Skill in interpreting complex, technical, and legal information
Skill in technical and business writing
Ability:
Ability to analyze complex/conflicting data and theories, draw valid conclusions, and make useful recommendations
Ability to establish and maintain effective and professional working relationships and to exercise good judgment
Ability to maintain critical thinking, analysis, and professionalism while performing repeated tasks
Ability to work independently, adapt to changing priorities, and stay on task despite interruptions
Ability to quickly learn new material, including actuarial, legal and technical concepts
Ability to interpret and explain complicated information
Ability to utilize technological tools and resources
Selective Preference(s):
Bachelor's degree preferred
Designations that are a plus: CPCU, AIE, CIE, ARM or NAIC regulator designations
Experience in regulating compliance in insurance forms, advertisements, and rates
Experience in the life & health and/or property & casualty insurance industry
Experience in insurance regulatory enforcement
Pre-Employment Requirements:
If this position requires driving or the use of a vehicle as an essential function of the job to conduct State business, then the following requirements apply: Driver's License Requirements.
Benefits:
The State of Arizona offers a comprehensive benefits package to include:
Optional employee benefits include short-term disability insurance, deferred compensation plans, and supplemental life insurance
Life insurance and long-term disability insurance
Vacation plus 10 paid holidays per year
Health and dental insurance
Retirement plan
Sick leave
Learn more about the Paid Parental Leave pilot program here. For a complete list of benefits provided by The State of Arizona, please visit our benefits page
Retirement:
Contact Us:
State Of Arizona