4/19/2004 03460

INSURANCE COMPANY EXAMINATION DIRECTOR

DEFINITION: This is administrative work in directing the insurance company and Continuing Care Retirement Community (CCRC) financial examination program.

The employee in this job is responsible for planning, directing and coordinating the examination program of foreign and domestic insurance companies. Work involves directing the activities of a staff of examiners engaged in reviewing the financial operations of companies to determine compliance with the state insurance laws and regulations, and their solvency and ability to pay claims when losses occur. Work involves overseeing the conduct of research to identify determinants producing insolvencies of companies in order to develop preventive measures to aver future occurrences in other companies. Supervision is exercised over subordinate Insurance Company Examination Managers. Work is performed independently and reviewed by the Deputy Commissioner for
Corporate and Financial Regulation for program effectiveness and conformance with established guidelines and procedures.

EXAMPLES OF WORK: Plans, directs, and coordinates the examination program of resident, foreign, and domestic insurance companies.

Directs a large staff of Examiners engaged in reviewing the financial operations of companies.

Serves as the chief adviser to the Deputy Commissioner for companies on related insurance matters.

Attends meetings and conferences and serves as departmental representative in dealings with insurance company official concerning problems resulting from examinations.

Supervises and conducts research to establish reasons for insurance companies becoming insolvent in order to recognize similar conditions in other companies to prevent future insolvencies.

Devises and approves standards and methods for insurance company examinations.

Performs the full range of supervisory duties.

The employee in this class may participate in the performance of subordinates' work consistent with operational or organizational requirements.

Performs related work as required.

REQUIRED, KOWLEDGES, SKILLS, AND ABILITIES: Knowledge of auditing and accounting principles and practices, especially as they relate to examining insurance company and CCRC reports and records.

Knowledge of insurance principles and practices as related to the financial conditions and operations of insurance companies and CCRCs.

Knowledge of the content and application of state laws, rules and regulations governing the operation of insurance companies and CCRCs.

Knowledge of the National Association of Insurance Commissioners’ practices and procedures relating to the examination of multi-state insurance companies.

Knowledge of computerized accounting systems.

Knowledge of the principles of effective supervision.

Ability to analyze reports of insurance company examinations and make sound regulatory recommendations.

Ability to determine non-compliance with insurance laws and regulations, to detect and explain significant accounting irregularities, and to recommend effective corrective action.

Ability to prepare clear and comprehensive reports.

Ability to plan and organize work and assign work to subordinates.

Ability to evaluate employee training needs and request further education and training for subordinates.

Ability to develop measurable performance objectives and standards.

Ability to supervise the work activities or subordinates effectively.

Ability to express ideas clearly and concisely, orally and in writing.

Ability to establish and maintain effective working relationships.

MINIMUM EXPERIENCE AND TRAINING: One year as an Insurance Company Examination Manager;

or

Seven years of professional accounting, auditing, or examining experience, including four years supervising insurance accounting or insurance company examination work; and a bachelor’s degree;

or

An equivalent combination of experience and training. Graduate course work in accounting, insurance or business administration may be substituted for experience on a year-for-year basis.