Job Information
State of Minnesota Financial Inst Asst Examiner: Financial Analyst - Insurance in St. Paul, Minnesota
Working Title: Financial Analyst - Insurance
Job Class: Financial Institutions Assistant Examiner
Agency: Commerce Department
Job ID : 77537
Location : St. Paul
Telework Eligible : Yes
Full/Part Time : Full-Time
Regular/Temporary : Unlimited
Who May Apply : Open to all qualified job seekers
Date Posted : 06/13/2024
Closing Date : 06/26/2024
Hiring Agency/Seniority Unit : Commerce Dept / Commerce-MAPE
Division/Unit : Insurance - Financial Analysis
Work Shift/Work Hours : Not Applicable Shift
Days of Work : Monday - Friday
Travel Required : No
Salary Range: $25.79 - $37.65 / hourly; $53,849 - $78,613 / annually
Classified Status : Classified
Bargaining Unit/Union : 214 - MN Assoc of Professional Empl/MAPE
FLSA Status : Nonexempt
Designated in Connect 700 Program for Applicants with Disabilities (https://mn.gov/mmb/careers/diverse-workforce/people-with-disabilities/connect700/) : Yes
The work you'll do is more than just a job.
At the State of Minnesota, employees play a critical role in developing policies, providing essential services, and working to improve the well-being and quality of life for all Minnesotans. The State of Minnesota is committed to equity and inclusion, and invests in employees by providing benefits, support resources, and training and development opportunities.
*Hybrid work environment with potential for significant telework. Primary work location will be the Golden Rule Building in St Paul *
The focus of this entry level position is to reduce financial loss to the citizens of Minnesota, and insureds of Minnesota domestic insurers in other states, through the performance of financial solvency and statutory compliance analysis on insurance companies domiciled in Minnesota. The analyst prepares recommendations based on those analyses and works to ensure compliance with statutes occurs.
Responsibilities include:
Analyze, examine and review financial information provided by insurance companies operating in Minnesota to identify potential solvency concerns, to determine compliance with statutory requirements, and to recommend action that needs to be taken.
Communicate with insurance companies to a) obtain additional information; and b) answer requests/questions of a routine nature.
Improve personal knowledge of industry issues, make recommendations on changing procedures, status and rules based upon economic, regulatory and other events
Maintain files on companies, log documents, follow up on late/missing filings, track correspondence sent to and received from companies,
Collaborate with senior analysts to ensure field staff is informed of issues needing attention before examinations begin.
Minimum Qualifications
2 (two) years of experience performing analysis, exercising judgment, and relying on knowledge in audit, risk, or compliance within the insurance industry.
A bachelor’s degree in accounting, Business Administration (Insurance), Finance, or related field is equivalent to one (1) year of experience.
An Advanced degree Accounting, Business Administration (Insurance), Finance, or related field is equivalent to eighteen (18) months of experience.
Applicants who meet the above education/experience requirements will be further evaluated based on the following:
Knowledge of accounting principles and practices sufficient to analyze and interpret financial data
Proficient with Microsoft Excel and other MS Office applications
Communication skills (written and verbal)
Preferred Qualifications
Experience with financial regulations
Experience in analyzing financial statements or business operations
Effective organization and time management skills
Physical Requirements
Requires occasional moving of articles such as boxes, accounting records, laptop computer, and portable printer.
Additional Requirements
Job offer is contingent upon passing reference checks to verify job-related credentials, a criminal background check and drivers’ license check prior to appointment.
AN EQUAL OPPORTUNITY EMPLOYER
Minnesota State Colleges and Universities is an Equal Opportunity employer/educator committed to the principles of diversity. We prohibit discrimination against qualified individuals based on their race, sex, color, creed, religion, age, national origin, disability, protected veteran status, marital status, status with regard to public assistance, sexual orientation, gender identity, gender expression, or membership in a local commission as defined by law. As an affirmative action employer, we actively seek and encourage applications from women, minorities, persons with disabilities, and individuals with protected veteran status.
Reasonable accommodations will be made to all qualified applicants with disabilities. If you are an individual with a disability who needs assistance or cannot access the online job application system, please contact the job information line at 651-259-3637 or email careers@state.mn.us . Please indicate what assistance is needed.