What are the responsibilities and job description for the FINANCIAL EXAMINER OFFICER (CAPTIVE INSURANCE) position at DC Department of Human Resources?
Job Summary
This position is located in the Department of Insurance, Securities and Banking, Risk Finance Bureau, Financial Analysis Division. The incumbent acts as the lead analyst performing and monitoring the performance of the financial surveillance analyses of District of Columbia based and foreign insurers to detect and act upon conditions that may lead to financial loss by policyholders and/ or the appropriate Guaranty Fund. The incumbent engages in the surveillance analysis of companies licensed to do business in life, health, and property and casualty area of the insurance industry.
Duties And Responsibilities
Assists the Supervisory Financial Analyst by providing less experienced financial analysts technical assistance and guidance on difficult and/ or complex insurance regulation issues. Receives internal assignments to review, evaluate and recommend improvements in work methods, procedures and the distribution of work assignments. Functions as the sign-off reviewer on the analysis work of less experienced financial analysts. Serves as team leader during the on-going conduct of financial analyses to determine the placement of insurers in one of four categories for priority examination. Recommends regulatory action including requiring more frequent and specialized reporting, initiating target on-site or full scope examinations, or seizure of assets.
Reviews and monitors the review of documentation to determine the proper category. Assists the Supervisory Financial Analyst by coordinating the development and maintenance of the listing of priority companies for which a potential solvency concern has been identified. Monitors the development of priority listings from the ongoing analysis of the above documentation in individual company financial analysis files. As the division's expert, carries out special assignments as project task group chief on sensitive and/ or complex financial surveillance issues; represents the division, as assigned, at meetings to coordinate financial surveillance activities with other elements of the DISB, insurer's representatives and/ or regulators from other jurisdictions. .
Licenses and Certification
None
Qualifications And Education
Specialized Experience is experience that equipped the applicant with the particular knowledge, skills, and abilities to perform successfully the duties of the position, and that is typically in or related to the work of the position to be filled. To be creditable, one (1) year of specialized experience must have been equivalent to at least the next lower grade level in the normal line of progression.
Working Conditions/Environment
The work is primarily sedentary, although some slight physical effort may be required. The work requires periods of standing, bending, stooping, and carrying of light items.
Other Significant Facts
Tour of Duty: Monday - Friday 8:15 am to 5:30 pm
Pay Plan, Series, Grade: CS-1101-14
Promotion Potential: No Known promotion potential
Duration of Appointment: Career Services - Regular Appointment
Collective Bargaining Unit (Union): This position is in a collective bargaining unit (AFSCME 2743), and you may be required to pay an agency service fee through direct payroll deduction.
Position Designation
This job is classified as “security sensitive” due to the position’s duties and responsibilities. Security sensitive positions are positions of special trust that may be reasonably expected to affect the access to or control of activities, systems, or resources that are subject to misappropriation, malicious mischief, damage, or loss or impairment of control of communication.
EEO Statement
The District of Columbia Government is an Equal Opportunity Employer. All qualified candidates will receive consideration without regard to race, color, religion, national origin, sex, age, marital status, personal appearance, sexual orientation, family responsibilities, matriculation, physical handicap, or political affiliation.
This position is located in the Department of Insurance, Securities and Banking, Risk Finance Bureau, Financial Analysis Division. The incumbent acts as the lead analyst performing and monitoring the performance of the financial surveillance analyses of District of Columbia based and foreign insurers to detect and act upon conditions that may lead to financial loss by policyholders and/ or the appropriate Guaranty Fund. The incumbent engages in the surveillance analysis of companies licensed to do business in life, health, and property and casualty area of the insurance industry.
Duties And Responsibilities
Assists the Supervisory Financial Analyst by providing less experienced financial analysts technical assistance and guidance on difficult and/ or complex insurance regulation issues. Receives internal assignments to review, evaluate and recommend improvements in work methods, procedures and the distribution of work assignments. Functions as the sign-off reviewer on the analysis work of less experienced financial analysts. Serves as team leader during the on-going conduct of financial analyses to determine the placement of insurers in one of four categories for priority examination. Recommends regulatory action including requiring more frequent and specialized reporting, initiating target on-site or full scope examinations, or seizure of assets.
Reviews and monitors the review of documentation to determine the proper category. Assists the Supervisory Financial Analyst by coordinating the development and maintenance of the listing of priority companies for which a potential solvency concern has been identified. Monitors the development of priority listings from the ongoing analysis of the above documentation in individual company financial analysis files. As the division's expert, carries out special assignments as project task group chief on sensitive and/ or complex financial surveillance issues; represents the division, as assigned, at meetings to coordinate financial surveillance activities with other elements of the DISB, insurer's representatives and/ or regulators from other jurisdictions. .
Licenses and Certification
None
Qualifications And Education
Specialized Experience is experience that equipped the applicant with the particular knowledge, skills, and abilities to perform successfully the duties of the position, and that is typically in or related to the work of the position to be filled. To be creditable, one (1) year of specialized experience must have been equivalent to at least the next lower grade level in the normal line of progression.
Working Conditions/Environment
The work is primarily sedentary, although some slight physical effort may be required. The work requires periods of standing, bending, stooping, and carrying of light items.
Other Significant Facts
Tour of Duty: Monday - Friday 8:15 am to 5:30 pm
Pay Plan, Series, Grade: CS-1101-14
Promotion Potential: No Known promotion potential
Duration of Appointment: Career Services - Regular Appointment
Collective Bargaining Unit (Union): This position is in a collective bargaining unit (AFSCME 2743), and you may be required to pay an agency service fee through direct payroll deduction.
Position Designation
This job is classified as “security sensitive” due to the position’s duties and responsibilities. Security sensitive positions are positions of special trust that may be reasonably expected to affect the access to or control of activities, systems, or resources that are subject to misappropriation, malicious mischief, damage, or loss or impairment of control of communication.
EEO Statement
The District of Columbia Government is an Equal Opportunity Employer. All qualified candidates will receive consideration without regard to race, color, religion, national origin, sex, age, marital status, personal appearance, sexual orientation, family responsibilities, matriculation, physical handicap, or political affiliation.
