Financial Analyst I

The Oklahoma Insurance Department has an opening in the Financial Division for a Financial Analyst I. The salary for this position is $58,151.97. To apply: Go to Financial Analyst I and click “Apply”. Please read the instructions carefully and include all required documents when you submit your application. This position is open until filled.

DEFINITION

Under the administrative direction of the Chief Financial Analyst, the Financial Analyst I is responsible for conducting risk-focused financial analysis of insurance companies to assess and monitor their current financial condition and prospective solvency in accordance with NAIC guidelines, as well as Oklahoma statutes and regulations.

JOB DUTIES

  • Conduct risk assessments of insurance companies through risk-focused analysis of assigned insurance companies.
  • Review annual and quarterly insurer financial statements and related supplemental regulatory filings of assigned companies for financial stability, solvency, and statutory compliance.
  • Create Insurer Profile Summary reports and Group Profile Summary reports.
  • Identify concerns, recommend resolutions, and forward the reports to the Chief Financial Analyst.
  • Handle oral and written correspondence with management of insurance companies, other state regulators, examiners, etc. to discuss financial condition, statutory compliance and other issues.
  • Review and approve administrative changes for assigned companies.
  • Meet with various representatives of assigned insurance companies as necessary.
  • Produce material for examinations; attend examination meetings and interviews, ensure corrective action has been taken on examination report exceptions.
  • Review and approve certifications such as: Valuation Certificates, Certificate of Authority, statutory deposits of insurers, and open records requests.
  • Maintain continuing education to meet NAIC accreditation standards, such as NAIC webinars, ICCIE, and specific financial analyst training.
  • Perform related work and special projects as required or assigned by Chief Financial Analyst.

KNOWLEDGE, SKILLS AND ABILITIES

  • Basic knowledge of insurance accounting required, including statutory accounting principles as well as generally accepted accounting principles, and applicable state statutes preferred.
  • Proficiency in the Office 365 environment, including Excel, Word, and Outlook.
  • Ability to understand statutes, policies and procedures and apply them to conduct the business of the Department.
  • Ability to maintain effective and positive working relationships.
  • Good time management skills and ability to work independently.
  • Strong communication and organizational skills.
  • EDUCATION AND EXPERIENCE

Financial Analyst I – Bachelor’s degree in accounting, economics, finance, or actuarial science with zero to three years of experience in financial analysis, insurance financial analysis. Preference will be given to applicants holding at least one of the following designations: CPA, CFE, AFE, CIE, AIE, FLMI, CPCU or ICCIE (ACI or CCI).

NOTE:

Upon hire, any applicant who is licensed as a producer/agent, adjuster or is otherwise affiliated with any entity that is regulated by the department must surrender their license and terminate any financial or non-financial affiliation with the entity that is regulated by the department. The selected applicant must pass a background check. Individual may be required to pursue NAIC designations as job duties require.

TELEWORK:

This position may be eligible for telework under OID’s Telework Program after initial training.
To see a complete list of benefits offered by the State of Oklahoma to employees of the state click on the following link. https://oklahoma.gov/omes/services/employee-benefits.html Equal Opportunity Employer

Location Oklahoma OK
Open Date January 15, 2025
Salary $58,151.97
Job Type Full Time