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Commonwealth of Pennsylvania |
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POSITION DESCRIPTION FOR JOB POSTING |
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Position Number: 00106324 |
Description Activated On: 12/18/2025 1:06:10 PM |
Position Purpose: Describe the primary purpose of this position and how it contributes to the organization’s objectives. Example: Provides clerical and office support within the Division to ensure its operations are conducted efficiently and effectively. All Pennsylvania-domiciled insurance companies and Pennsylvania-licensed continuing care retirement communities (CCRCs) must be examined at least once every five years to meet statutory requirements. Examinations include statutorily required examinations, target or limited scope examinations, and interim work. The Bureau Director and the Examination Managers assign individual, target or limited scope examinations to the Bureau’s financial examiners. The examiner reports directly to the assigned Examination Manager. The examiner is responsible for the accuracy, clarity, and completeness of the examination work papers and the draft examination report. The primary purpose of the risk-focused examination is to review and evaluate an insurer’s business processes and controls (including the quality and reliability of corporate governance) to assist in assessing solvency and monitoring its current financial condition and prospective risks. The examiner also assures compliance with relevant state laws, rules, and regulations. An Insurance Company Examiner 1 generally assists higher-level examiners in conducting on or offsite risk-focused examinations of records, documents, financial statements and other related materials. Examinations of insurance companies will be performed under the direction of an examiner-in-charge (EIC), and examinations of small single state insurers or CCRCs may be performed independently. All examination work is conducted under the principle of protecting the insurance company’s statutory surplus and financial solvency for the benefit of the policyholders. |
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Description of Duties: Describe in detail the duties and responsibilities assigned to this position. Descriptions should include the major end result of the task. Example: Types correspondence, reports, and other various documents from handwritten drafts for review and signature of the supervisor. An Insurance Company Examiner 1: • Travels to examination sites, both within and outside of the Commonwealth of Pennsylvania; • Researches issues relating to state law, state regulations, statutory accounting principles, etc. • Represents the Pennsylvania Insurance Department and its mission of solvency monitoring; • To gain an understanding of insurer operations, including corporate governance and enterprise risk management (ERM), the examiner under direction of the EIC: • Reviews regulatory filings; • Discusses the company with Department staff; • Holds or participates in interviews with company management and discusses operations with company personnel; • Reviews public information, industry trends and other sources of information; and, • Assists in scaling the extent of review based on size, risk, and complexity of the insurer. • Prepares examination work papers to provide accurate and complete documentation of observations, work performed, and examination findings in accordance with Department and NAIC standards and guidelines. • Communicates effectively with the EIC, Department management, and the insurer, verbally and in writing, regarding the details of exam findings through exam reports, management letters, and exit conferences. • Assists in identifying and assessing current and prospective solvency risks facing the company. The examiner also exercises judgment to ensure that risks are properly tailored to the insurer under examination; • Assists in reviewing and assessing the effectiveness of the insurer’s audit function (internal and external) as well as the ERM function to leverage existing work and gain efficiency in conducting examinations, where appropriate; • Assists in identifying relevant controls and/or risk mitigation strategies to address identified risks and perform tests of controls to evaluate their effectiveness; • Applies professional skepticism when assessing the strength of controls and/or risk mitigation strategies; • Assists in developing and performing independent detail test procedures to address identified risks based on the residual risk determinations; • Examines insurer records, practices, and activities to determine compliance with Pennsylvania laws, rules, regulations and NAIC standards and guidelines, as well as insurance industry best practices; • Completes the examination of small insurers and/or CCRCs with appropriate supervision. • Performs related work, as may be directed and/or required. |
Decision Making: Describe the types of decisions made by the incumbent of this position and the types of decisions referred to others. Identify the problems or issues that can be resolved at the level of this position, versus those that must be referred to the supervisor. Example: In response to a customer inquiry, this work involves researching the status of an activity and preparing a formal response for the supervisor’s signature. An Insurance Company Examiner 1: • Works independently under the general direction of the supervisor or Examiner in Charge who monitors performance through examination material reviews and periodic meetings. • Helps assess an insurer’s current financial condition and prospective solvency for assigned areas; and, • Assists in the preparation of detailed written report(s) of examination and management letter(s), as well as FCEH Exhibits, reports, and memos, including disclosure of significant findings and recommendations for corrective measures, and follows up on the corrective action plan taken by the insurance company. |
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Requirements Profile: Identify any specific experience or requirements, such as a licensure, registration, or certification, which may be necessary to perform the functions of the position. Position-specific requirements should be consistent with a Special Requirement or other criteria identified in the classification specification covering this position. Example: Experience using Java; Professional Engineer License Experience: N/A Licenses, registrations, or certifications: 1. N/A 2. N/A 3. N/A 4. 5. 6. |
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Essential Functions: Provide a list of essential functions for this position. Example: Transports boxes weighing up to 60 pounds.
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