06/08/2010 03445

INSURANCE COMPANY INFORMATION SYSTEMS EXAMINER

DEFINITION: This is advanced technical work in the examination of
insurance companies’ information technology (IT) operations and
systems.

An employee in this job examines the information systems (IS) of an
insurance company as part of the overall examination of the financial
and IT operations to determine the adequacy, effectiveness and proper
functioning of IS controls, standards and procedures and to ensure the
integrity of IS. Work involves conducting on-site reviews and evaluations
of IS to assess and evaluate administrative policies and procedures,
security system policies and controls, troubleshooting and problem
resolution capability, change management, disaster recovery and
business continuity. Work also involves acquiring, validating and
reconciling company data files; performing targeted evaluations of a
company’s information systems control environment; providing technical
guidance regarding IT system functions, issues and concerns to the
financial examination staff; and designing, creating and updating on-line
applications used by all examination staff to compile, analyze and
present data. Employees interview IT operational and management staff
as part of the review of the operation of the company’s IT systems and
may also assist the Examiner-In-Charge in interviews with non-IT
insurance company operational and management staff as part of the
review of other operational processes that are dependent on information
systems. Work also involves preparing correspondence and reports to
document findings and testifying in court when legal action is instituted
against an insurance company. Work is primarily assigned based on the
examination schedule for insurance companies. Employees are
expected to carry out assignments to conclusion, consulting with an
administrative supervisor as issues arise. Work is reviewed by an
administrative supervisor for completeness and soundness of
conclusions through reports, correspondence and discussions.

EXAMPLES OF WORK: Assesses IT governance to determine
management’s oversight and control of critical IT functions.

Reviews IT strategic plans to ensure they align with overall corporate
strategies.

Monitors results of company operational metrics against benchmarks to
determine effectiveness and efficiency of operations.

Evaluates current processes and objectives for appropriateness
considering planned internal and external environments.

Assesses entity-wide IT controls, including processes, procedures and
methodologies that are generally applied throughout the enterprise.

Identifies and maps critical data elements to the processes and systems
that input, maintain and transmit them.

Works with the financial examination team to determine critical
examination data elements and critical manual, automated and IT-
dependent manual, process and system controls.

Determines critical input interfaces, processing paths and key financial
and management reporting interfaces, such as reports, dashboards,
alerts, etc.

Assesses and tests key application controls.

Relates automated controls back to the general control environment, and
performs detailed testing of specific key application controls.

Evaluates the overall relevance and impact of automated controls and
complementary manual controls, in relation to the confidentiality,
accuracy and availability of critical data elements and the reliability of
critical management and financial reports.

Examines accounting systems used to ensure proper handling and
control of receipts and disbursements.

Advises companies of proposed Department action to obtain compliance
with laws and regulations.

Travels to insurance company sites inside and outside Pennsylvania.

Performs related duties as required.

REQUIRED KNOWLEDGES, SKILLS AND ABILITIES: Knowledge of
insurance company information systems examination procedures and
practices.

Knowledge of insurance company principles and practices related to
financial and information technology systems.

Knowledge of records maintained by insurance companies.

Knowledge of the National Association of Insurance Commissioners
(NAIC) principles, standards, and requirements.

Knowledge of the capabilities, limitations and requirements of electronic
data processing equipment, including micro, mini and large-scale
computer operations.

Knowledge of information security practices related to information
technology.

Knowledge of generally accepted Systems Development Life Cycle
Standards.

Knowledge of database concepts.

Knowledge of the basic principles and practices of information
technology project design and implementation.

Knowledge of auditing and generally accepted and statutory accounting
principles and practices, as related to the examination of insurance
company reports and records.

Knowledge of the laws, policies, rules and regulations governing the
operations of insurance companies.

Ability to analyze and interpret data.

Ability to establish and maintain effective working relationships.

Ability to communicate effectively orally.

Ability to communicate effectively in writing.

MINIMUM EXPERIENCE AND TRAINING: Two years of professional
experience in examining insurance company financial records and
information technology and information systems operations.

NECESSARY SPECIAL REQUIREMENT: Designation as an Accredited
Financial Examiner (AFE) by the Society of Financial Examiners.