Financial/Credit Examiner I - DORA: Division of Insurance Hybrid
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Financial/Credit Examiner I - DORA: Division of Insurance Hybrid
Salary
$5,050.00 - $5,807.00 Monthly
Location
Denver, CO
Job Type
Full Time
Job Number
SFA-4155-10/2024
Department
Department of Regulatory Agencies
Division
Division of Insurance
Opening Date
10/18/2024
Closing Date
11/7/2024 11:59 PM Mountain
FLSA
Determined by Position
Type of Announcement
This position is open only to Colorado state residents.
Primary Physical Work Address
1560 Broadway, Denver, CO 80202
Department Contact Information
Thanh Pham:
How To Apply
Please submit an online application for this position at Reach out to the Department Contact to apply using a paper application, including any supplemental questions. Failure to submit a complete and timely application may result in the rejection of your application. Applicants are responsible for ensuring that application materials are received by the appropriate Human Resources office before the closing date and time listed.
Description
Benefits
Questions
Department Information
Hybrid Workplace Arrangement:
Although this position will be designated under the department’s hybrid workplace program, it will still be required to report to the department office on a scheduled basis and at the discretion of the supervisor, based on business needs.
This announcement may be used to fill multiple vacancies.
The Department of Regulatory Agencies (DORA) is dedicated to preserving the integrity of the marketplace and is committed to promoting a fair and competitive business environment in Colorado.
Consumer protection is our mission.
DORA values and promotes diversity, supporting a workplace that is inclusive of people from different backgrounds and experiences; creating an environment that is reflective of our communities; promoting positive relationships; and putting forth unique perspectives to fulfill our mission.
Employer-sponsored RTD EcoPass, with offices located at Civic Center Plaza, above the RTD Civic Center station and just a few blocks from RTD light rail.
Extensive work-life programs such as flexible schedules, training and professional development opportunities on a wide variety of subjects, and more!
Employee wellness programs, including the Colorado State Employee Assistance Program (CSEAP), which provides free, confidential counseling services.
Bike-to-work programs, including access to storage lockers and bike racks.
Flexible retirement benefits, including a choice of the PERA Defined Benefit Plan or the PERA Defined Contribution Plan, plus optional 401K and 457 plans.
Medical and Dental Health Insurance for employees and optional coverage for their dependents.
Life Insurance for employees, and optional coverage for their dependents.
Paid Time Off, including 11 paid holidays.
Short- and long-term disability coverage.
Tuition assistance program.
Check out our excellent benefits ( package!
Description of Job
The Colorado Division of Insurance (DOI) regulates the insurance industry in Colorado. Unlike banking and other financial services, there is no federal oversight of the insurance industry in the United States. The insurance industry is regulated by individual states through coordinated efforts with the National Association of Insurance Commissioners (NAIC). State insurance commissioners established the NAIC to set standards, set best practices, conduct peer reviews, and coordinate their regulatory oversight of the insurance industry. Colorado is a member of the NAIC.
DOI helps consumers by answering their questions, investigating their complaints, and helping them to understand their insurance. The Division regulates and monitors insurance companies in Colorado, as well as insurance producers, ensuring all are following the law. Consumers purchase insurance to protect against a future loss. Insurer insolvencies negatively impact consumers' income, retirement benefits, medical treatments, replacement of damaged/stolen assets, etc. Insurance regulation involves two fundamental functions, financial/solvency regulation and market regulation. The financial examinations work unit is responsible for the verification/examination function of financial oversight of Colorado domestic insurance companies.
DOI financial oversight on a broad range of regulatory activities, including financial reporting, insurer licensing, financial analysis, and financial examinations. The division's financial oversight function reports to the Chief Deputy Commissioner of Finance. The financial examinations work unit of the DOI performs continuous onsite and offsite monitoring/analysis of financial, non-financial data, and management representation to identify excessive risk. The financial examination work unit determines compliance with the law, supervises insurer operations, and monitors emerging financial problems with the goal of protecting policyholders; and collaborates with other sections of DOI, other states’ insurance regulators, and the NAIC on special projects and task forces to problem solve specific state and national insurance industry issues.
Position:SFA 4155
This position is involved with the performance of risk-focused financial condition examinations and targeted investigations; assists in evaluating relevant controls and appropriate risk mitigation strategies that address identified risks; performs tests of controls to evaluate their effectiveness and verifies compliance with appropriate statutes, regulations, the Financial Condition Examiners Handbook, and the Accounting Practices and Procedures Manua; and performs examinations that are subject to NAIC accreditation guidelines and deadlines.
Duties include, but are not limited to:
Performing audit/examination processes utilizing financial accounting and auditing principles/practices to determine compliance with applicable statutes and regulations, including verification of annual statement reported assets and liabilities;
Performing tasks within the TeamMate+ software per the requirements of the Financial Condition Examiners Handbook; handling multiple financial examination tasks, including writing memos, reviewing the company responses, and writing summaries of work performed;
Obtaining and compiling the necessary background information and the history of the company being reviewed, including information on the company from various sources, i.e. the financial analyst, i-Site, company website, any prior filings with the DOI, any prior exam work papers, and any prior reports of examination;
Helping with the financial analysis function in managing workload during certain times of the year, including helping with monitoring the financial condition of companies by performing offsite financial analysis to identify unusual results, concerns, and solvency risk.
Minimum Qualifications, Substitutions, Conditions of Employment & Appeal Rights
MINIMUM QUALIFICATIONS (MQs):
There are two ways to qualify for this position: 1) Experience OR 2) A Combination of Education and Experience
Option 1: Experience:
- Five (5) years of full-time professional* experience working in the insurance industry (life, health, or property and casualty insurance) or in a government agency with financial analysis or auditing experience; and/or conducting financial examinations and/or audits of financial and insurance entities.
Option 2: A Combination of Education AND Experience
Associate’s Degree and Experience:Graduation from an accredited college or university with an associate's degree in accounting, finance, business administration, economics, statistics, mathematics, or in a field of study related to the work assignment; AND
Three (3) years of full-time professional* experience working in the insurance industry (life, health, or property and casualty insurance) or in a government agency with financial analysis or auditing experience; and/or conducting financial examinations and/or audits of financial and insurance entities.
OR
Bachelor’s Degree and Experience:Graduation from an accredited college or university with a bachelor's degree in accounting, finance, business administration, economics, statistics, mathematics, or in a field of study related to the work assignment; AND
One (1) year of full-time professional* experience working in the insurance industry (life, health, or property and casualty insurance) or in a government agency with financial analysis or auditing experience; and/or conducting financial examinations and/or audits of financial and insurance entities.
Document this experience in your applicationIN DETAIL, as your experience will not be inferred or assumed. Part-time experience will be prorated.
SUBSTITUTIONS:
- Partial credit toward the degree requirement will be given for completed college/university coursework that did not result in a degree. A master's or doctorate degree from an accredited college or university in a field of study related to the work assignment will substitute for the bachelor's degree requirement.
*Professional work involves exercising discretion, analytical skill, judgment and personal accountability and responsibility for creating, developing, integrating, applying, and sharing an organized body of knowledge that characteristically is: uniquely acquired through an intense education or training regimen at a recognized college or university; equivalent to the curriculum requirements for a bachelor's or higher degree with major study in or pertinent to the specialized field; and continuously studied to explore, extend, and use additional discoveries, interpretations, and application and to improve data, materials, equipment, applications and methods.
Preferred Qualifications:
Demonstrated experience working in a regulatory environment, government agency, and/or public sector;
Current licensure as a Certified Public Accountant (CPA), Accredited Financial Examiner (AFE), Certified Financial Examiner (CFE), or Certified Information Systems Auditor (CISA);
Experience working in the insurance industry or in a government agency with knowledge of life, health, property and casualty, and/or title insurance;
Demonstrated ability to handle sensitive and/or highly confidential information in a professional and ethical manner, and in accordance with state and federal laws;
Demonstrated experience working in a high-stress, fast-paced, high-volume environment, and adapting to shifting priorities;
Demonstrated ability to analyze documents for completeness, correctness, and/or compliance with laws, rules, policies, and procedures;
Demonstrated experience in auditing or conducting examinations specific to the insurance industry or in a government agency;
Demonstrated accounting experience including working in the accounting/finance industry, in an internal/external audit firm, or in a government agency;
Demonstrated experience working in a regulatory environment or in a government agency reviewing financial documents to determine compliance of insurance companies with laws and regulations;
Demonstrated professional experience utilizing specialized auditing software, such as TeamMate+ to complete financial audits and examinations.
Required Competencies: The following knowledge, skills, abilities, and personal characteristics are required competencies and may be considered during the selection process (including examination and/or interview):
Demonstrated written communication skills, including the ability to convey information to various stakeholders in a clear, accurate, and concise written manner;
Demonstrated verbal communication skills, including the ability to effectively convey information to audiences in a concise manner;
Demonstrated attention to detail;
Sound judgment and the confidence to make decisions on a routine basis;
Demonstrated critical thinking and analytical skills, including having the ability to evaluate information in order to apply knowledge and decide on the most appropriate course of action;
Demonstrated organizational skills, including planning, prioritizing, and time management in order to meet deadlines;
Flexibility and ability to shift to the needs and circumstances of an examination and ability to adapt to changing work assignments;
Interpersonal skills, including the ability to use customer service techniques to bring companies into compliance;
Demonstrated ability to collaborate with multi-disciplinary stakeholders;
Customer service skills, including the ability to diplomatically interact with difficult customers and maintain communication with stakeholders;
Problem-solving skills, including the ability to analyze information and use internal guidance in order to find solutions;
Demonstrated ability to read, understand, interpret, apply, and explain laws, rules, policies, and procedures;
Demonstrated ability to understand and abide by workplace principles, practices, and behaviors as internally identified and defined by the division and department;
Ability to accept and apply constructive criticism, take ownership of mistakes, and improve from them;
Self-motivated, self-starter, reliable, and accountable;
Integrity and high ethical standards;
Ability to maintain confidential, controversial, or sensitive information;
Dependability and Reliability: Regular and consistent work attendance is pivotal, as this position serves a critical role in the business of the department;
Demonstrated professional demeanor;
Proficiency in the use of PC software applications including Microsoft Office (Word, Excel, Outlook) and in the use of databases;
Proficiency in the use of Google drive and Google applications, including Docs, Sheets, Slides, Calendar, etc.
Conditions of Employment: Candidates who fail to meet the conditions of employment will be removed from consideration.
The successful passing of a reference check and/or, if required, a background check.
A reference check may include but is not limited to: contacting previous and current supervisors to verify employment and discuss performance, a review of the personnel file, a review of the performance record, etc.
The type of background check depends on the job duties of the position, and can include a review of any criminal record, credit report, and/or driving record.
Ability to travel independently, including work in-office, as required by business needs and scheduled by the supervisor.
This position requires the ability to travel up to 25% of the time, including staying over weekends when required; and the ability to transport equipment, including, but not limited to, laptop computers, printers, manuals, and supplies.
Effective September 20, 2021, employees will be required to attest to and verify whether or not they are fully vaccinated for COVID-19. Employees who have not been fully vaccinated may be required to submit to serial testing in the future. Upon hire, new employees will have three (3) business days to provide attestation to their status with proof of vaccination. Vaccinated employees must provide proof of vaccination.
Note: Fully Vaccinated means two (2) weeks after a second dose in a two-dose series of the COVID-19 vaccine, such as the Pfizer or Moderna vaccine, or two (2) weeks after the single-dose vaccine, such as Johnson & Johnson’s Janssen vaccine, as defined by the State of Colorado’s Public Health Order and guidance issued by the Colorado Department of Public Health & Environment.
Supplemental Information
PLEASE READ - Required Application Materials
Interested individuals must submit the following online:
A completed State of Colorado Application (log-in to your current NeoGov account or create a NeoGov account to complete the online application). Note: Incomplete applications, including incomplete work history sections or "see résumé," "see attachment," or "see addendum" statements, will not be accepted in lieu of a completed application form.
A current email address on your application, as all communication pertaining to this position will be conducted via email. Please set up your email to accept messages from and ‘@state.co.us’ addresses, and check your email often. Note: The department cannot guarantee the successful delivery of email, including incorrect filtering into junk mail folders.
A detailed cover letter , explaining how you meet the required competencies and how your accomplishments, qualifications, skills, areas of expertise, personal characteristics, etc. make you a good fit for this position; you may also attach additional documents that demonstrate this.
Comparative Analysis Process: Structured Application Review
Part of, if not the entire, comparative analysis process for this position will involve a review of the information you submit in your application materials; Therefore, it is paramount that in the experience portion of your application and cover letter, you describe the extent to which you possess the education, experience, and competencies outlined in the job announcement as well as the required and/or preferred qualifications/competencies. You are also encouraged to attach additional documents to that effect. Failure to include adequate information or follow instructions may affect your score and prevent you from competing in subsequent measures used to arrive at a top group of applicants.
Veterans’ Preference:Candidates who wish to assert Veterans’ Preference should attach a copy of their DD214 to their application. Failure to do so will result in being denied Veterans Preference.
PLEASE NOTE:Former State Personnel System employees who were disciplinarily terminated or resigned in lieu of termination must disclose this information on the application. Colorado Revised Statutes require that all state employees be hired and promoted through competitive examination of merit and fitness. Failure to include the required information, failure to follow instructions, and/or failure to submit materials by the application deadline may result in your application not being considered for the position and may affect your score or inclusion in the final pool of qualified candidates.
The State of Colorado believes that equity, diversity, and inclusion drive our success, and we encourage candidates from all identities, backgrounds, and abilities to apply. The State of Colorado is an equal opportunity employer committed to building inclusive, innovative work environments with employees who reflect our communities and enthusiastically serve them. Therefore, in all aspects of the employment process, we provide employment opportunities to all qualified applicants without regard to race, color, religion, sex, disability, age, sexual orientation, gender identity or expression, pregnancy, medical condition related to pregnancy, creed, ancestry, national origin, marital status, genetic information, or military status (with preference given to military veterans), or any other protected status in accordance with applicable law.
ADAAA Accommodations:DORA is committed to the full inclusion of all qualified individuals. As part of this commitment, our agency will assist individuals who have a disability with any reasonable accommodation requests related to employment, including completing the application process, interviewing, completing any pre-employment testing, participating in the employee selection process, and/or to perform essential job functions where the requested accommodation does not impose an undue hardship. If you have a disability and require reasonable accommodation to ensure you have a positive experience applying or interviewing for this position, please direct your inquiries to our ADAAA Coordinator, at .
While a salary range is posted for this position, an eventual salary offer is determined by a comprehensive salary analysis, which considers multiple factors including but not limited to education and experience compared to others in the organization doing substantially similar work.
Check out our excellent benefits ( package!
Appeal Rights:
If you receive notice that you have been eliminated from consideration for this position, you may file an appeal with the State Personnel Board or request a review by the State Personnel Director.
An appeal or review must be submitted on the official appeal form, signed by you or your representative. This form must be delivered to the State Personnel Board by email, US Mail, faxed or hand-delivered within ten (10) calendar days from your receipt of notice or acknowledgment of the department’s action.
For more information about the appeals process, the official appeal form, and how to deliver it to the State Personnel Board go to spb.colorado.gov or refer to 4 Colorado Code of Regulations (CCR) 801-1, State Personnel Board Rules and Personnel Director's Administrative Procedures, Chapter 8, Resolution of Appeals and Disputes, at spb.colorado.gov under Rules.
The State of Colorado offers permanent employees a variety of benefits including medical, dental, life and disability insurance, as well as a comprehensive leave program. Please click the following link for detailed information:
Please note that each agency's contact information is different; therefore, we encourage all applicants to view the full, official job announcement which includes contact information and class title. Select the job you wish to view, then click on the "Print" icon.
01
DORA Q1: Please provide your Social Security Number. NOTE: This information will be kept strictly confidential and is only accessible to Human Resources Personnel.
02
DORA Q2: Are you a current or previous State of Colorado employee? Enter "yes" or "no" in the space provided. If "yes", enter 1) the State agency name, 2) dates of employment, and 3) your official classification title.
03
DORA Q3: If you are a current or former State of Colorado classified employee, have you ever been disciplinary terminated, resigned in lieu of termination, or deemed to have resigned without notice (Board Rule 7-6, Automatic Resignation)? NOTE: Current and former State Personnel System employees who were disciplinary terminated, resigned in lieu of termination, or who were deemed to have resigned without notice (Board Rule 7-6, Automatic Resignation) must disclose this information on the application. Failure to disclose this information and/or falsification of application materials may result in being removed from consideration for this position.
N/A - I am not a current or former State of Colorado classified employee.
YES, I have been disciplinary terminated, resigned in lieu of termination, or deemed to have resigned without notice (Board Rule 7-6, Automatic Resignation).
NO, I have NEVER been disciplinary terminated, resigned in lieu of termination, or deemed to have resigned without notice (Board Rule 7-6, Automatic Resignation).
04
DORA Q4: Current or Former Classified Employees: Are you a transfer, non-disciplinary (voluntary) demotion, or reinstatement applicant?
Yes
No
N/A - I am not a current or former State of Colorado classified employee.
05
DORA Q5: VETERAN'S PREFERENCE NOTE: If you are not eligible for/seeking Veteran's Preference, please skip down to the bottom and select option "N/A". REQUIRED DOCUMENTATION: Candidates who wish to assert Veterans' Preference should attach a copy of their DD214 reflecting dates of service, type of discharge, and, if appropriate, a campaign badge or service medal. If information regarding a campaign badge or service medal is necessary to award preference points and is not reflected on the DD214, other documents reflecting the grade or medal must be provided. Other types of documentation may be required for ten point preference. *Note 1: For a complete list of service dates and campaigns used in awarding preference points visit: **Note 2: Medal holders and Gulf War veterans who originally enlisted after September 7, 1980, or entered active duty on or after October 14, 1982, without having previously completed 24 months of continuous active duty; must have served continuously for 24 months or the full period called or ordered to active duty. ***Note 3: Effective October 1, 1980, military retirees at or above the rank of major or equivalent, are not entitled to preference unless they qualify as disabled veterans. Reservists who are retired from the Reserves but are not receiving retirement pay are not considered "retired military" for purposes of veterans' preference. REMINDER: Proof of eligibility must be provided before points are allowed. Please attach documentation to your application. If you have not done so, please go back and do so now. Veteran's Preference points WILL NOT be applied without the appropriate documentation. PLEASE CHECK ALL THAT APPLY:
N/A - I am not eligible for/seeking Veteran's Preference.
A) I was honorably separated (this means an honorable or general discharge) and I served on active duty (excluding active duty for training) in the Armed Forces: During any war declared by Congress
B) I was honorably separated (this means an honorable or general discharge) and I served on active duty (excluding active duty for training) in the Armed Forces: During the period April 28, 1952, through July 1, 1955;
C) I was honorably separated (this means an honorable or general discharge) and I served on active duty (excluding active duty for training) in the Armed Forces: For more than 180 consecutive days, any part of which occurred after January 31, 1955, and before October 15, 1976;
D) I was honorably separated (this means an honorable or general discharge) and I served on active duty (excluding active duty for training) in the Armed Forces: During the Gulf War period beginning August 2, 1990, and ending January 2, 1992;
E) I was honorably separated (this means an honorable or general discharge) and I served on active duty (excluding active duty for training) in the Armed Forces: For more than 180 consecutive days, any part of which occurred during the period beginning September 11, 2001, and ending on the date prescribed by Presidential proclamation or by law as the last day of Operation Iraqi Freedom; or,
F) I was honorably separated (this means an honorable or general discharge) and I served on active duty (excluding active duty for training) in the Armed Forces: In a campaign or expedition for which a campaign medal has been authorized*, such as El Salvador, Lebanon, Granada, Panama, Southwest Asia, Somalia, and Haiti.
G) I have served on active duty in the Armed Forces at any time and have a present service connected disability or are receiving compensation, disability retirement benefits, or pension from the military or the Department of Veterans Affairs; or
H) I am a Purple Heart recipient;
I) I am the spouse of a veteran unable to work because of a service-connected disability;
J) I am the unmarried widow/widower of certain deceased veterans; and
K) I am the mother of a veteran who died in service or who is permanently and totally disabled.
06
DORA Q6: Part of the required application materials includes a detailed cover letter, explaining how you meet the required competencies and how your accomplishments, qualifications, skills, areas of expertise, personal characteristics, etc. make you a good fit for this position; you may also attach additional documents that demonstrate this. Q: Have you included this cover letter as an attachment to your application? (If not, you may go back and do so now). Yes, I have attached the required cover letter explaining how I meet the required competencies and how my accomplishments, qualifications, skills, areas of expertise, personal characteristics, etc. make me a good fit for this position; I may also attach additional documents that demonstrate this. No, I have not attached the required cover letter to my application. Note: I understand that failure to include this information and follow instructions may prevent me from competing in subsequent measures used to arrive at a top group of applicants.
Yes
No
07
DORA Q7: This position requires the ability to travel up to 25% of the time, including staying over weekends when required; and the ability to transport equipment, including, but not limited to, laptop computers, printers, manuals, and supplies. Will you be willing to travel for this position?
Yes
No
08
DORA Q8: Do you have an associate's/bachelor's degree in accounting, finance, business administration, economics, statistics, mathematics, or a field of study related to the work assignment? Please specify.
09
DORA Q9: If you are using experience to qualify, please describe how you meet the following minimum qualification: Five (5) years of full-time professional* experience working in the insurance industry (life, health, or property and casualty insurance) or in a government agency with financial analysis or auditing experience; and/or conducting financial examinations and/or audits of financial and insurance entities. Note: If you answered yes to DORA Q8 with an associate's degree, the experience requirement is three (3) years. If you answered yes to DORA Q8 with a bachelor's degree, the experience requirement is one (1) year.
10
DORA Q10: Please explain in detail how you meet the following preferred qualifications: Demonstrated experience working in a regulatory environment, government agency, and/or public sector.
11
DORA Q11: Please explain in detail how you meet the following preferred qualifications: Current licensure as a Certified Public Accountant (CPA), Accredited Financial Examiner (AFE), Certified Financial Examiner (CFE), or Certified Information Systems Auditor (CISA).
12
DORA Q12: Please explain in detail how you meet the following preferred qualifications: Experience working in the insurance industry or in a government agency with knowledge of life, health, property and casualty, and/or title insurance.
13
DORA Q13: Please explain in detail how you meet the following preferred qualifications: Demonstrated ability to handle sensitive and/or highly confidential information in a professional and ethical manner, and in accordance with state and federal laws.
14
DORA Q14: Please explain in detail how you meet the following preferred qualifications: Demonstrated experience working in a high-stress, fast-paced, high-volume environment, and adapting to shifting priorities.
15
DORA Q15: Please explain in detail how you meet the following preferred qualifications: Demonstrated ability to analyze documents for completeness, correctness, and/or compliance with laws, rules, policies, and procedures.
16
DORA Q16: Please explain in detail how you meet the following preferred qualifications: Demonstrated experience in auditing or conducting examinations specific to the insurance industry or in a government agency.
17
DORA Q17: Please explain in detail how you meet the following preferred qualifications: Demonstrated accounting experience including working in the accounting/finance industry, in an internal/external audit firm, or in a government agency.
18
DORA Q18: Please explain in detail how you meet the following preferred qualifications: Demonstrated experience working in a regulatory environment or in a government agency reviewing financial documents to determine compliance of insurance companies with laws and regulations.
19
DORA Q19: Please explain in detail how you meet the following preferred qualifications: Demonstrated professional experience utilizing specialized auditing software, such as TeamMate+ to complete financial audits and examinations.
20
DORA Q20: Although this position will be designated under the department's hybrid workplace program, it will still be required to report to the department office on a scheduled basis and at the discretion of the supervisor, based on business needs. Would you be able to do this?
21
DORA Q21: The salary range posted for this position is $60,600 - $69,684/annually ($5,050 - $5,807/monthly); while appointments are typically made at or near the range minimum, the salary will be set based on the qualifications of the candidate appointed and relevant factors. Please share your salary expectations below.
22
DORA Q22: If you move forward in this process and are selected for this position, what is the earliest date that you would be able to start?
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