Insurance Company Financial Examiner Trainee (Target Title: Ins Co Field Staff Examiner)

About the Position

The Department of Insurance is seeking to hire an Insurance Company Financial Examiner Trainee. Under immediate supervision, for a period of up to twelve months, the trainee receives training and is assigned various work assignments to develop the knowledge, understanding, skills and abilities required to conduct financial analysis of assigned insurance companies’ financial and non-financial documents to verify a company’s financial condition and to determine if all operations are in compliance with the Illinois Insurance Code and applicable laws, rules, regulations and current insurance accounting practices; completes a variety of assignments in the application of auditing and accounting techniques; assists financial analysts and specialists in various aspects of financial analysis; receives instruction in preparing analysis worksheets, documents and reports to document and support findings; completes agency training to develop and enhance knowledge of the analysis process. We invite all qualified applicants to apply.

Job Responsibilities

Minimum Qualifications

1. Requires a bachelor’s degree with coursework in accounting, business, economics, finance, insurance, information technology, risk management or a closely related field.

Preferred Qualifications

1. Prefers elementary knowledge of insurance accounting and auditing theories, methods, standards, and procedures.
2. Prefers elementary knowledge of business administration practices as related to insurance companies.
3. Prefers elementary knowledge of technology utilized by the insurance industry.
4. Prefers ability to successfully complete on-the-job training assignments for the financial analysis of insurance companies.
5. Prefers ability to prepare documentation and reports of analysis findings in a logical and concise manner.

6. Prefers ability to learn and retain knowledge of the Illinois Insurance Code and all applicable laws, rules, regulations, and current accounting practices the govern the insurance industry.
7. Prefers ability to acquire knowledge in the structure, operation, and management of insurance companies.
8. Prefers ability to establish effective working relationships with agency staff and insurance company officials and representatives.
9. Prefers ability to perform duties in a professional, efficient, and ethical manner and to maintain the confidentiality of the company’s information that is obtained during the analysis process.

Conditions of Employment

1. Requires the ability to pass a background check.

2. Requires the ability to travel. (Only applies to position 21610-14-20-340-11-01).

About the Agency

The Department of Insurance (DOI) regulates the insurance market in the State of Illinois including, but not limited to, licensing and educating insurance agents, investigating Workers Compensation fraud, and examining the operations and finances of insurance companies domiciled in the state. We are committed to protecting consumers and regulating the insurance industry with innovation and efficiency. DOI has approximately 220 employees who are split between our Chicago and Springfield offices.

State of Illinois employees enjoy a robust benefit package, including:

• 3 Paid Personal Days annually
• Deferred Compensation Program and other pre-tax benefit programs (Medical/Daycare)
• Pension Plan
• Health, Life, Vision, and Dental Insurance
• 12 Paid Sick Days annually (sick days carry over from year to year)
• 10-25 days of Paid Vacation time annually - (10 days in year one of employment)
• Tuition Reimbursement Program and Federal Public Service Loan Forgiveness Program eligibility
• 10 Weeks Paid Maternity/Paternity Leave
• Flexible work schedules may be available, dependent upon position
• 13 Paid Holidays annually, 14 on even numbered years

Visit https://www2.illinois.gov/cms/benefits/Pages/default.aspx for more information about our benefits.