What are the responsibilities and job description for the Insurance Financial Analyst (OSI #34544) position at State of New Mexico?
Posting Details
The Office of Superintendent of Insurance regulates all insurance companies doing business in the State of New Mexico. Its role is to enforce all New Mexico laws and regulations applicable to
insurance companies doing business within the state for the protection of New Mexico residents utilizing insurance company products and services.
THIS POSTING WILL BE USED FOR ONGOING RECRUITMENT AND MAY CLOSE AT ANY TIME. APPLICANT LISTS MAY BE SCREENED MORE THAN ONCE.
Why does the job exist?
The Insurance Financial Analyst will perform highly skilled technical work in the examination and analysis of the financial conditions and business practices of insurance companies domiciled and conducting business in the state of New Mexico. The Insurance Financial Analyst performs risk-focused financial analysis in accordance with the National Association of Insurance Commissioners (NAIC) prescribed guidance and NAIC accreditation standards and compliance with applicable statutory accounting practices and procedures (SAPP), generally accepted accounting principles (GAAP), New Mexico insurance laws, regulations, bulletins and practices and procedures.
How does it get done?
The incumbent will complete the following: preforming in-depth review and conduct risk focused financial analysis, in accordance with the National Association of Insurance Commissioners (NAIC)
risk-focused framework to determine key risks, financial condition (indicators of insurers financial difficulties, trends, potential insolvency or improper reporting of financial information), including but not limited to annual and quarterly financial statements, actuarial reports, MDandA' s, holding company filings, ORSA. While also informing supervision of any of the triggering concerns once their analysis is completed and ready for second level review. They will document all work in the TeamMate software program, follow up with the domiciled companies on any identified risk or key problem areas, request corrections which shall include letter preparation, scheduling conferences and coordination of legal staff with the help of the Financial Analyst assistant.
Who are the customers?
Domiciled, Domestic, and Foreign Insurance Companies that write Insurance business in the State of New Mexico.
Ideal Candidate
Domiciled, Domestic, and Foreign Insurance Companies that write Insurance business in the State of New Mexico.
Minimum Qualification
Bachelor's degree in accounting, economics, finance, or related field. Any combination of education from an accredited college or university in a related field and/or direct experience in this occupation totaling four (4) years may substitute for the required education.
Employment Requirements
Must possess a valid New Mexico Driver's license, a current defensive driving course certification from the State of New Mexico or must pass Defensive Driving Course Certificate within six months of the date of hire as a condition of continued employment.
Working Conditions
Work is performed in an office setting with exposure to Visual/Video Display Terminal (VDT) and extensive personal computer and phone usage. Some sitting, standing, bending and reaching may be required, must be able to lift up to 25 pounds.
Must possess and maintain a valid New Mexico Driver's License. Must possess and maintain a current Defensive Driving Course Certificate from the State of New Mexico or must pass and receive Defensive Driving Course Certification as a condition of continued employment. Occasional local and out of State travel may be required.
Supplemental Information
Benefits:
Do you know what Total Compensation is? Click here
Agency Contact Information: Alma Tapia (505)-487-6612. Email
For information on Statutory Requirements for this position, click the Classification Description link on the job advertisement.
Bargaining Unit Position
This position is not covered by a collective bargaining agreement.
The Office of Superintendent of Insurance regulates all insurance companies doing business in the State of New Mexico. Its role is to enforce all New Mexico laws and regulations applicable to
insurance companies doing business within the state for the protection of New Mexico residents utilizing insurance company products and services.
THIS POSTING WILL BE USED FOR ONGOING RECRUITMENT AND MAY CLOSE AT ANY TIME. APPLICANT LISTS MAY BE SCREENED MORE THAN ONCE.
Why does the job exist?
The Insurance Financial Analyst will perform highly skilled technical work in the examination and analysis of the financial conditions and business practices of insurance companies domiciled and conducting business in the state of New Mexico. The Insurance Financial Analyst performs risk-focused financial analysis in accordance with the National Association of Insurance Commissioners (NAIC) prescribed guidance and NAIC accreditation standards and compliance with applicable statutory accounting practices and procedures (SAPP), generally accepted accounting principles (GAAP), New Mexico insurance laws, regulations, bulletins and practices and procedures.
How does it get done?
The incumbent will complete the following: preforming in-depth review and conduct risk focused financial analysis, in accordance with the National Association of Insurance Commissioners (NAIC)
risk-focused framework to determine key risks, financial condition (indicators of insurers financial difficulties, trends, potential insolvency or improper reporting of financial information), including but not limited to annual and quarterly financial statements, actuarial reports, MDandA' s, holding company filings, ORSA. While also informing supervision of any of the triggering concerns once their analysis is completed and ready for second level review. They will document all work in the TeamMate software program, follow up with the domiciled companies on any identified risk or key problem areas, request corrections which shall include letter preparation, scheduling conferences and coordination of legal staff with the help of the Financial Analyst assistant.
Who are the customers?
Domiciled, Domestic, and Foreign Insurance Companies that write Insurance business in the State of New Mexico.
Ideal Candidate
Domiciled, Domestic, and Foreign Insurance Companies that write Insurance business in the State of New Mexico.
Minimum Qualification
Bachelor's degree in accounting, economics, finance, or related field. Any combination of education from an accredited college or university in a related field and/or direct experience in this occupation totaling four (4) years may substitute for the required education.
Employment Requirements
Must possess a valid New Mexico Driver's license, a current defensive driving course certification from the State of New Mexico or must pass Defensive Driving Course Certificate within six months of the date of hire as a condition of continued employment.
Working Conditions
Work is performed in an office setting with exposure to Visual/Video Display Terminal (VDT) and extensive personal computer and phone usage. Some sitting, standing, bending and reaching may be required, must be able to lift up to 25 pounds.
Must possess and maintain a valid New Mexico Driver's License. Must possess and maintain a current Defensive Driving Course Certificate from the State of New Mexico or must pass and receive Defensive Driving Course Certification as a condition of continued employment. Occasional local and out of State travel may be required.
Supplemental Information
Benefits:
Do you know what Total Compensation is? Click here
Agency Contact Information: Alma Tapia (505)-487-6612. Email
For information on Statutory Requirements for this position, click the Classification Description link on the job advertisement.
Bargaining Unit Position
This position is not covered by a collective bargaining agreement.
