Class Code: 00445
IOWA DEPARTMENT OF ADMINISTRATIVE SERVICES –
HUMAN RESOURCES
INSURANCE COMPANY EXAMINER 3
DEFINITION
Performs journey level
auditing assignments in the examination of the financial and related business
records of domestic and resident insurance companies to determine compliance
with state insurance laws and regulations; 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
Applies established auditing and accounting techniques
to analyze, verify and reconcile financial accounts and transactions.
Organizes and performs detail audit portions of the
examination; verifies accounting procedures and reconciles records as provided
for in the current Code of Iowa.
Confers with appropriate
insurance company personnel and discusses irregularities and necessary
corrective action concerning specific phases of the examination.
Examines and verifies the assets/liabilities of
insurance companies consisting of real estate, cash, bonds, stocks, balances,
receivables, unpaid losses and expenses, reserves, capital stock or guaranty
funds, and surpluses; and analyzes results with the previous examination
report.
Makes extensive test checks of income and disbursement
items and accounts.
Prepares statements of income and disbursements,
assets and liabilities, underwriting and investment exhibits, and necessary
supporting schedules such as summaries of the investment accounts and analysis
of surplus accounts.
Reviews management and
corporate structure, employee welfare, treatment of policyholders, and other
administrative procedures and practices.
Prepares detailed reports
based on studies and examinations of accounts.
COMPETENCIES REQUIRED
Knowledge of the principles, methods, and practices of
auditing and accounting.
Knowledge of insurance principles and theory.
Ability to analyze and interpret complex accounting
and financial data.
Ability to prepare accurate and complete financial
statements.
Ability to prepare clear and comprehensive reports
based on studies and completed examinations.
Ability to meet with and cooperate effectively with
individuals or representatives of organizations who are subject to examination
by the Insurance Division.
Ability to oversee the work
of lower level Examiners.
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 four-year college or
university with a degree in accounting and experience equal to thirty months of
full-time work experience in insurance company examination or financial
auditing work;
OR
an
equivalent combination of education and experience substituting, on a
year-for-year basis, one year of successful work experience in adjusting
insurance claims and/or auditing or maintaining accounting and financial
records for each year of the required college or university education, with a
maximum substitution of four years (thirty semester or equivalent hours equals
one year);
OR
employees
with current continuous experience in the state executive branch equal to twelve
months of full-time work as a Insurance Company Examiner 2.
NOTE:
Incumbents in many of these
positions 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. Some positions will require
statewide travel and some will travel an assigned territory within the State of
SPECIAL NOTE:
Openings in this class are normally filled by
promotion from the Insurance Company Examiner 2 class within the agency.
Effective
Date: 11/06 SH