STATE OF NEW HAMPSHIRE
CLASSIFICATION: INSURANCE COMPANY EXAMINER III
Class Code: 5253-32 Date Established: 12-16-76
Occupational Code: 7-2-4 Date of Last Revision: 1-10-02
BASIC PURPOSE: To plan, conduct and supervise the market conduct and financial examinations of domestic and foreign insurance companies licensed to sell insurance in the state.
CHARACTERISTIC DUTIES AND RESPONSIBILITIES:
· Formulates a written audit plan for individual insurance company, including examining accounting procedures used to determine handling and control of receipts and disbursements.
· Conducts and supervises market conduct and financial examinations of insurance companies.
· Examines insurance policy forms, riders, endorsements, settlements, investments, surpluses and reserves to assure compliance with established standards, procedures, laws and regulations.
· Testifies at hearings to present and explain findings based on insurance company examinations and audits.
· Exercises administrative supervision over subordinate examiners, examiners under contract, and examiners from other states, to account for time and work assignments.
· Analyzes and interprets examination findings, recommendations and conclusions of subordinate insurance examiners.
· Acts as liaison between the Insurance Department and senior company management or chief legal counsel regarding procedures needed to adopt and implement state policy as well as examination findings and recommendations.
· Prepares examination reports to document findings and recommendations, including appropriate references citing violations of statutory accounting principles, insurance laws or state regulations.
Skill: Requires skill in evaluating, planning or integrating analysis of data to formulate current and long-range solutions, strategies or policies of a specialized or technical nature.
Knowledge: Requires logical or scientific understanding to analyze problems of a specialized or professional nature in a particular field.
Impact: Requires overall administrative responsibility for achieving agency objectives by directing all aspects of operations management. Errors at this level result in disruption of systemwide programs or services as well as long-term adverse impact on agency image and the future success of organizational operations.
Supervision: Requires delegating supervisory or program responsibilities to subordinate managers, with overall accountability for hiring employees and approving program policies. The supervisor in this position assumes responsibility for an organizational unit, including developing long-range plans, analyzing staffing requirements, and formulating systemwide policies and procedures.
Working Conditions: Requires performing regular job functions in a controlled environment with minimal exposure to disagreeable job elements and little risk of hazard to physical or mental health.
Physical Demands: Requires light work, including continuous walking or operating simple equipment for extended periods of time as well as occasional strenuous activities such as reaching or bending.
Communication: Requires acting as the official representative of the agency, including explaining and defending current and long-range goals or objectives which directly affect public policy decisions regarding major state programs and services.
Complexity: Requires formulating the combination of overall job functions in order to address highly diverse or novel situations requiring new concepts and imaginative approaches to a wide range of intellectual and practical problems.
Independent Action: Requires administrative decision-making in authorizing and monitoring the implementation of major departmental policies and procedures.
Education: Bachelor's degree from a recognized college or university with a major in accounting, criminal justice, social sciences, finance, insurance, statistics, business administration or law, economics, government, or its equivalent with a minimum of fifteen credit hours in any of the above fields.
Experience: Eight years experience in accounting, auditing, business administration, insurance management or regulation, with at least four years insurance company examination experience, market conduct examinations, insurance department rate, policy, contract or consumer protection regulatory experience, or underwriting and loss adjustment experience. Registration with the New Hampshire Board of Accountancy as a Certified Public Accountant or possession of one of the following nationally recognized professional designations: AIE, CFE, CIE, FLMI, CLU, ChFC, CPCU, or an equivalent designation may be substituted for two years of work experience.
License/Certification: None required.
RECOMMENDED WORK TRAITS: Thorough knowledge of the applicable laws, practices and procedures relating to the examination of an insurance institution. Working knowledge of and skill in applying the techniques of insurance company examinations. Ability to critically analyze the liabilities and assets of insurance companies and organizations and to prepare comprehensive reports of such analyses. Ability to establish and maintain harmonious relationships with employees, insurance company executives and the public. Willingness to spend periods of time out-of-state. Must be willing to maintain appearance appropriate to assigned duties and responsibilities as determined by the agency appointing authority.
DISCLAIMER STATEMENT: This class specification is descriptive of general duties and is not intended to list every specific function of this class title.
Last Updated 01/07/03