STATE OF NEW HAMPSHIRE
HUMAN RESOURCES
CLASSIFICATION: INSURANCE
COMPANY EXAMINER I
Class Code: 5251-29
Date Established: 12-16-76
Occupational
Code: 7-2-4
Date of Last Revision: 1-10-02
BASIC PURPOSE: To perform
market conduct and financial examinations of domestic and foreign insurance
companies licensed to sell insurance in the state.
CHARACTERISTIC
DUTIES AND RESPONSIBILITIES:
·
Examines and analyzes
fiscal data and reports involving audits and examinations of insurance
companies for adherence to state laws.
·
Prepares and reviews
reports of audits and examinations to draw conclusions and provide
recommendations for corrective measures.
·
Examines insurance
policy forms, riders and endorsements to assure compliance with established
standards, procedures, laws and regulations.
·
Analyzes accounting
procedures of insurance companies used in determining handling and control of
receipts and disbursements.
·
Reviews insurance
claims to determine that settlements are made in accordance with policy
provisions for proper treatment of policy holders.
·
Determines the
accuracy of financial data and records with the aid of electronic data
processing programs and software.
·
Prepares statements
of income and disbursements, assets and liabilities, underwriting and
investment exhibits and necessary supporting schedules such as summaries of the
investment accounts and analysis of the surplus accounts.
·
Determines that
company balance sheets include sufficient reserves to cover all liabilities;
reconciles reserves during the period covered by examination.
·
Develops, plans,
coordinates and executes Market Conduct Examinations with senior insurance
company, agency or insurance entity representatives.
·
Reviews agent, agency
and broker licensing compliance and business practices.
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DISTINGUISHING
FACTORS:
Skill: Requires skill
in analyzing and interpreting data, policy and procedures OR in using equipment
in order to arrive at logical conclusions or recommendations.
Knowledge: Requires
logical or scientific understanding to analyze problems of a specialized or
professional nature in a particular field.
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
direct supervision of programs or of employees doing work which differs from
the supervisor, including disciplining employees, solving personnel problems,
recommending hiring and terminating employees, and developing work
methods. The supervisor in this
position manages a working unit or section with responsibility for employee
performance appraisal.
Working
Conditions: Requires performing regular job
functions in a controlled environment with minimal exposure to disagreeable job
elements and little risk of hazard to physical or mental health.
Physical
Demands: Requires light work, including
continuous walking or operating simple equipment for extended periods of time
as well as occasional strenuous activities such as reaching or bending.
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 independent judgment in
planning and evaluating work procedures and in supervising the development of
professional, technical and managerial standards under administrative direction
and according to broad departmental guidelines.
MINIMUM
QUALIFICATIONS:
Education: Bachelor's
degree from a recognized college or university with a major in accounting,
finance, insurance, statistics, criminal justice, business administration or
law, economics, social sciences, government, or its equivalent with a minimum
of fifteen credit hours in any of the above fields.
Experience: Six years
experience in accounting, auditing or business administration, insurance
management or regulation, two years of which must be involved with insurance
company examinations, market conduct examinations, insurance department rate,
policy, contract or consumer protection regulatory experience, or in
underwriting and loss adjustment.
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.
License/Certification: None required.
RECOMMENDED
WORK TRAITS: Extensive knowledge of the insurance
laws and regulations of the State of New Hampshire. Knowledge of accounting and market conduct principles and
practices as used in the business of insurance. Working knowledge of office methods, procedures and
equipment. Ability to communicate
effectively with insurance company officials and other insurance company
employees. Ability to develop
administrative and statistical reports with evidence and recommendations. Willingness to spend periods of time
out-of-state. 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.
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Last Updated 01/07/03
URL: http://www.nh.gov/hr/classspec_i/5251.htm