The Market Conduct Examiner will be responsible for performing reviews of major insurance companies’ operations, marketing, underwriting, rating, policyholder service, producer licensing, complaint handling and claims handling processes to verify compliance with states’ insurance statutes and regulations.
Specific Duties and Responsibilities
(Responsibilities may vary slightly depending on seniority level)
- Perform comprehensive, targeted and risk focused market conduct examinations to determine compliance with states’ insurance statutes and regulations on behalf of state insurance departments.
- Review and assess insurance company’s documentation and data to determine compliance with states’ insurance statutes and regulations.
- Draft examination work papers in an organized manner for supervisory review.
- Assist with the preparation of reports, exhibits, and other supporting documentation and schedules that detail a company’s compliance with insurance statutes and regulations and recommend solutions.
- Submit draft examination reports and other deliverables for supervisory review.
- Recommend/document actions to ensure compliance with insurance statutes and regulations.
- Must possess knowledge of and provide guidance of insurance laws, rules, and regulations.
- Review and analyze new, proposed, or revised laws, regulations, policies, and procedures in order to determine compliance with states’ insurance statutes and regulations and interpret their meaning and determine impact to the insurance company.
- Analyze reports and records relating to specific and overall operations of insurance companies; prepare clear, complete, concise, and informative compliance reports of condition of insurance companies for supervisory review.
- Consistently enhance knowledge of: principles, practices, techniques, and methods of insurance examination and regulations; insurance laws and Insurance Commissioner’s rulings; and related Attorney General Opinions and court decisions; insurance company practices; statistical sampling procedures; basic mathematics.
- Bachelor’s Degree in Business, Risk Management, Accounting or Finance; MBA and/or professional certification/s preferred
- Minimum of 5+ years insurance experience with a State or Federal agency, insurance company, examination firm or with a public accounting firm as an internal or external auditor, adjuster, compliance professional or examiner.
- Insurance industry experience is a must.
- Candidates must have completed or are pursuing professional insurance designations such as AIE/CIE, MCM, AIRC, FLMI, CPCU, or CLU.
- PC skills, including experience in using software for producing presentations, spreadsheets, and project planning (skilled in TeamMate, ACL/Access, and MS Excel, Word and Power Point).
- Demonstrated history of project management experience.
- Ability to interact with all levels including executives and senior managers.
- Strong interpersonal, presentation, analytical and examination/audit skills.
- Excellent organizational skills and the ability to prioritize multiple tasks, projects and assignments using effective timemanagement skills.
- Strong written and verbal communication skills are required.
- Dynamic/flexible demeanor with exceptional client service skills.
- Forward-thinking leader with a collaborative focus who can consult effectively with key constituents and become recognized as a valued resource.
- Must be self-motivated, work well independently and possess a sense of urgency.
- Skilled in team building and team development.
- Flexibility to travel up to 50-75% (depends on location).