Class Code: 00450
IOWA DEPARTMENT OF ADMINISTRATIVE SERVICES –
HUMAN RESOURCES
INSURANCE COMPANY EXAMINATIONS, DEPUTY ADMINISTRATOR
DEFINITION
Plans, coordinates and directs various regulatory aspects
of a broad spectrum of traditional and nontraditional insurers licensed in
Iowa; establishes policies/procedures and oversees implementation; oversees
financial solvency of insurers; performs related work as required.
The
Work Examples and Competencies listed are for illustrative purposes only and
not intended to be the primary basis for position classification decisions.
WORK EXAMPLES
Supervises and evaluates the work of subordinates;
recommends personnel actions related to selection, disciplinary procedures,
performance, leaves, grievances, work schedules and assignments; administers
personnel policies and procedures.
Assesses staffing needs and makes staffing
assignments; may elect to allocate staff for special projects.
Designs and implements a program for the financial
analysis of insurance companies.
Design program for regulation of workers compensation
self-insured.
Designs and implements programs to maintain National
Association Insurance Commissioners (NAIC) accreditation.
Oversees and coordinates special projects, including
agency activities/responses for National Association Insurance Commissioners
accreditation compliance.
Designs programs to ensure compliance for health
maintenance organization, limited services organizations and organized delivery
systems.
Reviews, critiques and analyzes draft domestic
examination reports.
Reviews, critiques and analyzes analysts' comments
regarding filed financial statements.
Identifies compliance or operational problems and sets
or assists in setting a course of action.
Directs audit of premium tax; supervises analysis of
insurance company financial statement filings; supervises analysis and
licensing of workers compensation self-insurers.
Troubleshoots and develops strategies relative to
issues/areas without regulatory precedent or agency policy.
Coordinates and assists with other departments within
government on the financial solvency on other insurance like organizations.
Resolves controversial and sensitive issues involving
insurance industry with primary focus on
Communicates regularly with peers at other insurance
departments about national and international insurance issues; communicates
regularly with National Association of Insurance Commissioners on insurance
related issues.
Designs program and supervise review of complex
transactions between affiliates.
Deals with queries from a broad spectrum of
individuals on a myriad of issues.
Advises and directs staff relative to goals and
objectives and ensures that revised procedures and methods are implemented.
Interprets insurance statutes and agency policies to
subordinates and to regulated insurance entities.
Coordinates with actuary on complex financial
arrangements; coordinates with legal counsel on complex compliance issues.
Serves as an expert; evaluates needs and develops
rules and regulatory proposals.
Initiates actions relative to suspension of licensed
foreign insurance companies.
COMPETENCIES REQUIRED
Knowledge of
the principles of supervision.
Knowledge of the principles, methods, and practices of
statutory auditing and accounting.
Knowledge of the principles, methods, practices and
techniques of a comprehensive market conduct examination which includes the
review of such areas as insurance forms and rates; classification of risks and
underwriting practices; unfair claims practices; and overall operation and
structure.
Knowledge of the scope and purposes of laws and
regulations governing insurance companies, and of the practices and operations
of insurance companies.
Knowledge of insurance principles and theory.
Knowledge of the principles of business law.
Ability to analyze and interpret complex accounting
and financial data.
Ability to analyze and interpret complex contractual
relations.
Ability to compile and summarize examination findings
into a formal report.
Ability to plan, organize, control and effectively
supervise the work of subordinates to ensure solvency and safeguard interests
of
Ability to meet with and correspond effectively with
peers of other insurance departments.
Ability to meet with, corresponds with and cooperate
effectively with insurance company officials to resolve controversial problems.
Displays
high standards of ethical conduct.
Exhibits honesty and integrity.
Refrains from theft-related, dishonest or unethical behavior.
Works and communicates with internal and external
clients and customers to meet their needs in a polite, courteous, and
cooperative manner. Committed to quality
service.
Displays a high level of initiative, effort and
commitment towards completing assignments efficiently. Works with minimal supervision. Demonstrates responsible behavior and
attention to detail.
Responds appropriately to supervision. Follows policy and cooperates with
supervisors.
Aligns behavior with the needs, priorities and goals
of the organization.
Encourages and facilitates cooperation, pride, trust,
and group identity. Fosters commitment
and team spirit.
Expresses information to individuals or groups
effectively, taking into account the audience and nature of the
information. Listens to others and
responds appropriately.
EDUCATION, EXPERIENCE, AND SPECIAL REQUIREMENTS
Graduation from an accredited college or university
with a degree in accounting and experience equal to five years of full-time
work in insurance company examination or financial auditing, three years of
which must have been as an examiner in charge;
OR
an
equivalent combination of education and experience substituting one year of
auditing or maintaining accounting and financial records for each thirty
semester hours of the required education to a maximum of four years;
OR
employees
with current continuous experience in the state executive branch that
includes experience equal to eighteen months of full-time work as an Insurance
Company Examiner Specialist.
NOTE:
Incumbents will be required to travel and stay out overnight. Incumbents will be required to make arrangements on their own regarding transportation to and from assigned work areas. Travel both in state and out of state will be required.
SPECIAL NOTE:
Preference will be given to qualified candidates who have earned a designation appropriate to regulatory financial examinations.
Effective
Date: 11/06
SH