Commonwealth of PA

Insurance Company Financial Analyst 1

Commonwealth of PA

Aug 3rd, 2022
$ 46318 - 70416 / Year
Pennsylvania was founded as a commonwealth for the common good. It has become the ideological compass for our American values of freedom tolerance, and individual rights. Today, Pennsylvania continues to lead the way for successful businesses and communities with innovation, imagination, and our legendary can-do spirit. It’s truly a state where you can
Middletown, PA
https://www.pa.gov
THE POSITION

Are you an inquisitive person who would love to tackle a financial puzzle? If so the Pennsylvania Insurance Department, Office of Corporate & Financial Regulation, Financial Analysis Division, has an opportunity for you. The Office of Corporate & Financial Regulation is seeking an individual who displays attention to detail and great analytical skills. Put your basic audit and accounting skills to work for you as you review and analyze insurance company financial statements and other filings for compliance and solvency standards protecting policyholders across the state and beyond.

DESCRIPTION OF WORK
As a financial analyst you will conduct basic auditing and accounting functions when reviewing and analyzing insurance company financial statements and other filings to determine compliance with statutes and regulations in support of the solvency surveillance of licensed insurers for the protection of policyholders. You will perform testing and verify the accuracy of financial information submitted by various types of insurance companies through their quarterly and annual statements. You will make determinations on if companies and continuing care retirement communities are operating within the scope of laws as well as determinations of solvency. You will be responsible for recommending corrective action and follow-up procedures necessary to improve the financial condition of a company. You will apply early warning test ratios in your analysis to determine the company’s solvency.

Our ideal candidate will be highly organized and self-motivated. In addition, the candidate must exhibit strong verbal and written communication skills and be able to understand and apply laws, rules and regulations.

Why work at the PA Insurance Department?

We value comprehensive training and personal development to help you grow and see your goals become a reality. Additional benefits:

  • Competitive salary
  • Opportunities for professional career growth
  • Stable and supportive work environment
  • Comprehensive benefits
  • Retirement packages
  • Paid time off for most major U.S. holidays
  • Healthy work/life balance
  • As a commonwealth employee, you can come to work each day knowing that you’re helping to improve the lives of your fellow Pennsylvanians.

Join the Pennsylvania Insurance Department and gain valuable knowledge in an exciting ever-changing industry and experience professional career growth and a healthy work/life balance.

Learn more about the PA Insurance Department at our website: https://www.insurance.pa.gov/Pages/default.aspx

Interested in learning more? Additional details regarding this position can be found in the position description.

Work Schedule and Additional Information:

  • Full-time employment.
  • Work hours are 8:00am-4:30pm, Monday-Friday; with a 60-minute lunch.
  • Telework: You may have the opportunity to work from home (telework) part-time. In order to telework, you must have a securely configured high-speed internet connection. If you are unable to telework, you will have the option to report to the headquarters office in Harrisburg.
  • Salary:In some cases, the starting salary may be non-negotiable.
  • You will receive further communication regarding this position via email. Check your email, including spam/junk folders, for these notices.

REQUIRED EXPERIENCE, TRAINING & ELIGIBILITY

QUALIFICATIONS
Minimum Experience and Training Requirements:

  • One year as a Financial Programs Trainee;or
  • A bachelor’s degree including or supplemented by fifteen credits in accounting; or
  • Four years of experience in the external audit or examination of the financial conditions and operations of insurance companies; or
  • An equivalent combination of experience and training.

Other Requirements:

  • You must meet the PA residency requirement. For more information on ways to meet PA residency requirements, follow the link and click on Residency.
  • You must be able to perform essential job functions.

How to Apply:

  • Resumes, cover letters, and similar documents will notbe reviewed, and the information contained therein will not be considered for the purposes of determining your eligibility for the position. Information to support your eligibility for the position must be provided on the application (i.e., relevant, detailed experience/education).
  • If you are claiming education in your answers to the supplemental application questions, you must attach a copy of your college transcripts for your claim to be accepted toward meeting the minimum requirements. Unofficial transcripts are acceptable.
  • Failure to comply with the above application requirements may eliminate you from consideration for this position.

Veterans:

  • Pennsylvania law (51 Pa. C.S. §7103) provides employment preference for qualified veterans for appointment to many state and local government jobs. To learn more about employment preferences for veterans, go to www.employment.pa.gov/Additional%20Info/Pages/default.aspx and click the Veterans’ Preference tab or contact us at [email protected]

Telecommunications Relay Service (TRS):

  • 711 (hearing and speech disabilities or other individuals).

The Commonwealth is an equal employment opportunity employer and is committed to a diverse workforce. The Commonwealth values inclusion as we seek to recruit, develop, and retain the most qualified people to serve the citizens of Pennsylvania. The Commonwealth does not discriminate on the basis of race, color, religious creed, ancestry, union membership, age, gender, sexual orientation, gender identity or expression, national origin, AIDS or HIV status, disability, or any other categories protected by applicable federal or state law. All diverse candidates are encouraged to apply.

Learn more about our Total Rewards by watching this short video!

Health & Wellness

We offer multiple health plans so our employees can choose what works best for themselves and their families. Our comprehensive benefits package includes health coverage, vision, dental, and wellness programs.*


Compensation & Financial Planning
We invest in our employees by providing competitive wages and encouraging financial wellness by offering multiple ways to save money and ensure peace of mind including multiple retirement and investment plan options.

Work/Life Balance
We know there’s more to life than just work! Our generous paid leave benefits include paid vacation, paid sick leave, six weeks of paid parental leave, military leave, and paid time off for most major U.S. holidays, as well as flexible work schedules and work-from-home opportunities.*

Values and Culture
We believe in the work we do and provide continual opportunities for our employees to grow and contribute to the greater good. As one of the largest employers in the state, we provide opportunities for internal mobility, professional development, and the opportunity to give back by participating in workplace charitable giving.

Employee Perks
Sometimes, it is the little “extras” that make a big difference. Our employees receive special employee-only discounts and rates on a variety of services and memberships.

For more information on all of these Total Rewards benefits, please visit www.employment.pa.gov and click on the benefits box.

  • Eligibility rules apply.

If you require alternative methods of application or screening, you must approach Commonwealth of PA directly to request this, as we're not responsible for the employer's application process.

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