Financial Regulator I

About the job

Main Job Responsibilities Solvency Risk Assessment: Identify, assess, and evaluate solvency risks and prospective financial stability for current domestic and prospective insurance companies. Regulatory Compliance: Determine insurer compliance with over 2,000 pages of specialized insurance accounting laws, rules, standards, Statutory Accounting Principles, and National Association of Insurance Commissioners (NAIC) accreditation standards. Application Holding Company Oversight: Assure compliance for new-company and re-domestication applications, including assessing the impact of holding company systems on an insurer's financial stability. Regulatory Recommendations: Identify significant solvency risks, report findings, and make formal recommendations for regulatory action or negotiated resolutions of non-compliance issues. Day-to-Day Job Functions External Report Reviews: Conduct ongoing reviews of external reports filed with the Department, including quarterly and annual statements (often hundreds of pages long), holding company filings, and Own Risk and Solvency Assessments (ORSA). Transaction Special Request Analysis: Review and evaluate requests for intercompany transactions, permitted practices, surplus note and interest payments, extraordinary dividends, Form A filing, primary/re-domestication applications following specific procedures and deadlines. Financial Risk Modeling Evaluation: Analyze financial data, pro forma projections, risk-based capital models, investment risks, and actuarial estimates for reserving. Framework Operations Assessment: Work independently or in teams to evaluate corporate governance structures, risk management frameworks, internal and external audit functions, investments, reinsurance, and counterparty risks. Documentation Reporting: Summarize data, interpret results, write or draft correspondence, and prepare documentation to support regulatory findings and resolutions.