Class Code: 00447
IOWA DEPARTMENT OF ADMINISTRATIVE SERVICES –
HUMAN RESOURCES
INSURANCE COMPANY EXAMINER SPECIALIST
DEFINITION
Interprets data relating to the analysis and
evaluation of insurance operations subject to regulation by the Insurance
Division of the Iowa Department of Commerce; provides expert opinion and
support evidence on issues pertaining to insurance regulation; 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
Provides input in the identification of internal
programs, plans, and procedures necessary to ensure agency goals are met.
Directs EDP operations including planning, selection,
coordination, determination and justification of equipment and software needs.
Performs and/or directs all HMO financial and
compliance examinations.
Confers and corresponds with insurance company
personnel regarding the contents of examination reports and resolving
controversial or disputed points resulting from examinations.
Directs and coordinates county mutual regulation to
include performing field examinations.
Evaluates and recognizes regulatory needs based on
trends in unique and specialized segments of the insurance industry.
Acts as Insurance Division expert in all aspects of
HMO regulation to include performing field examinations.
Performs analysis and prepares report of broad variety
of information and data in response to diverse and unforeseen problems arising
in the course of insurance regulation.
Reviews current literature and attends seminars and
conferences to maintain current knowledge of economics, finance, trends in
insurance regulation, laws, policies and related fields impacting on work
performed and shares this information with other staff.
Acts as Insurance Division expert in all aspects of
workers’ compensation self-insurance regulation to include review and analysis
of all applicants and establishment of appropriate surety.
Assesses needs and develops computer applications for
use in program area of expertise.
Directs the collection of data for use in the
establishment of computerized database.
Employs highly specialized technical skills in
evaluating and reporting on rates, reserve adequacy and various other aspects
of insurance operations.
COMPETENCIES REQUIRED
Knowledge of Division rules, regulatory procedures and
precedents.
Knowledge of data retrieval methods to access computer
information relative to databases within insurance companies.
Knowledge of basic computer programming.
Knowledge of the principles, methods, practices and
techniques of a comprehensive examination which may include such areas as
insurance forms and rates; classification of risks and underwriting practices;
unfair claims practices; and overall operation and structure.
Knowledge of the principles, methods, and practices of
auditing and accounting.
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.
Ability to perform actuarial analysis in relation to
insurance company reserving practices/rates.
Ability to analyze and interpret complex accounting
and financial data.
Ability to prepare accurate and complete financial
statements.
Ability to compile and summarize examination findings
into a formal report.
Ability to meet with, correspond with, and cooperate
effectively with insurance company officials to resolve controversial problems.
Ability to analyze filing, data and exhibits submitted
by insurance companies and workers’ compensation self-insurers for Insurance
Division consideration.
Ability to communicate complex, technical information
to insurance industry, consultants, consumers and Insurance Division staff.
Ability to make objective recommendations/decisions
concerning regulatory issues based on applicable laws, policies and precedents.
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 forty-two months
of full-time work in insurance company examination or financial auditing work;
OR
graduation from an accredited law school, admitted to
practice law in
OR
an
equivalent combination of education and experience substituting, on a
year-for-year basis, one year of work experience in adjusting insurance claims
and/or auditing or maintaining accounting and financial records for each year
(thirty semester hours or its equivalent) of the required college or university
education, with a maximum substitution of four years;
OR
employees
with current continuous experience in the state executive branch that
includes eighteen months of full-time work as an 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.
Positions will require statewide travel.
Some out of state travel may be required as assigned by the agency of
employment. Incumbents will provide
their own means of transportation in order to conduct state business.
Effective Date: 11/06 SH