STATE OF NEW HAMPSHIRE
CLASSIFICATION: INSURANCE COMPANY EXAMINER V
Class Code: 5271-34 Date Established: 12-08-04
Occupational Code: 7-2-4 Date of Last Revision: 2-15-05
BASIC PURPOSE: To direct, design, implement, evaluate and supervise the financial examination process and procedures concerning domestic and foreign insurance companies and other entities engaged in the business of insurance and licensed in the state of New Hampshire for compliance with New Hampshire statutes and insurance regulations.
CHARACTERISTIC DUTIES AND RESPONSIBILITIES:
· Directs, plans, and implements technical, in-depth examinations of insurance companies in conformance with the National Association of Insurance Commissioners (NAIC) Accreditation Standards and New Hampshire Insurance Laws.
· Evaluates and authorizes financial examination reports and recommends and approves strategies for problem resolution.
· Directs and delegates administrative functions to supervisory level financial examiners and manages independent consultants in the conduct of field examinations.
· Evaluates staff performance, recommends the hiring of employees, and approves independent consultant contracts.
· Acts as senior advisor on financial matters for which the Insurance Department is responsible and provides technical expertise to field examiners concerning Statutory Accounting Practice and Procedures (SAPP), Generally Accepted Accounting Principles (GAAPP), and New Hampshire insurance statutes and regulations.
· Testifies before legislative committees concerning insurance laws and at hearings conducted by the insurance department to present, explain and defend examination findings and recommendations.
· Represents the New Hampshire Insurance Department on Working Groups and Task Forces at national meetings of the National Association of Insurance Commissioners (NAIC) as directed by the Commissioner.
Skill: Requires skill in evaluating, planning or integrating analysis of data to formulate current and long-range solutions, strategies or policies of a specialized or technical nature.
Knowledge: Requires logical or scientific expertise to resolve problems of a specialized or professional nature in a wide range of applications.
Impact: Requires overall administrative responsibility for achieving agency objectives by directing all aspects of operations management. Errors at this level result in disruption of systemwide programs or services as well as long-term adverse impact on agency image and the future success of organizational operations.
Supervision: Requires agency-wide administrative supervision, including the responsibility for developing and evaluating internal personnel policies. This level also involves the administrative management of a program which affects more than one agency, including overseeing the interaction of agency employees or policies to accomplish organizational objectives or goals.
Working Conditions: Requires performing regular job functions under good conditions in a safe working environment.
Physical Demands: Requires sedentary work, including continuous sitting or occasional standing and walking.
Communication: Requires acting as the official representative of the agency, including explaining and defending current and long-range goals or objectives which directly affect public policy decisions regarding major state programs and services.
Complexity: Requires formulating the combination of overall job functions in order to address highly diverse or novel situations requiring new concepts and imaginative approaches to a wide range of intellectual and practical problems.
Independent Action: Requires administrative decision-making in authorizing and monitoring the implementation of major departmental policies and procedures.
Education: Master’s degree from a recognized college or university with major study in accounting, finance, business administration, or economics with a minimum of fifteen credit hours in accounting.
Experience: Ten years' experience in accounting, auditing, business administration, insurance management, or insurance regulation, five years of which must have been involved with insurance company examinations of records and operations for conformance with applicable laws, rules, and regulations. Registration with the New Hampshire Board of Accountancy as a Certified Public Accountant or possession of one of the following nationally recognized professional designations: AIE, CFE, CIE, FLMI, CLU, ChFC, CPCU, or an equivalent designation may be substituted for two years of work experience. Each additional year of approved work experience may be substituted for one year of required formal education at the graduate level only.
License/Certification: Licensure as a Certified Financial Examiner (CFE) required. Licensure as a Certified Public Accountant (CPA) desirable.
RECOMMENDED WORK TRAITS: Knowledge of New Hampshire insurance laws and regulations. Knowledge of the principles and practices of accounting, auditing and market conduct as they pertain to the insurance business. Knowledge of the methods, techniques and procedures utilized in the examination of insurance companies. Knowledge of supervision, program administration and evaluation, and systems management. Knowledge of office methods, procedures, and equipment. Ability to develop administrative and statistical reports with evidence and recommendations. Ability to communicate effectively with insurance company officials and employees. Ability to speak before public groups and legislative committees. Ability to establish and maintain an effective working relationship with other employees, insurance company officials, and the public. Must be willing to maintain appearance appropriate to assigned duties and responsibilities as determined by the agency appointing authority.
DISCLAIMER STATEMENT: This class specification is descriptive of general duties and is not intended to list every specific function of this class title.
Last Updated 10/21/04