Senior Insurance Analyst - REMOTE OPTIONS, Arizona, United States - PHOENIX, Arizona, United States (2024)

DEPARTMENT OF INSURANCE AND FINANCIAL INSTITUTIONS
The Department of Insurance and Financial Institutions licenses, monitors, investigates, examines, and ensures the safety and soundness of, regulated entities. The Department also helps resolve consumer complaints against financial-services and insurance entities; takes action in response to violations of law; encourages competition, innovation, and economic development; collects taxes and assessments that support State government operations; combats auto theft and insurance fraud through public awareness campaigns, and funding for law enforcement and dedicated prosecutors.

Our mission is to help Arizonans receive the benefits and protections to which they are legally entitled by enforcing insurance and financial institution laws and by providing information and assistance and to combat vehicle theft.

As a Senior Insurance Analyst, you will serve in a technical capacity to perform analytical work to evaluate insurance non-compliance with various regulatory issues objectively prioritize them, and determine the best method to address the issues identified.

Specific Senior Insurance Analyst responsibilities include but are not limited to - Conducting analysis of complex insurance-related information available within the Department or from outside sources. Conducting thorough, concise, accurate, credible, detailed, and timely analysis to verify companies' compliance with Arizona insurance statutes and rules, standards of the National Association of Insurance Commissioners, and Market Regulation Handbook.

Maintaining timely and precise reports, for submission to the Assistant Director or Market Conduct Manager as assigned. Recognize and execute an appropriate regulatory response to issues identified in market analysis, including conducting data calls, interrogatories, and interviews; analyze resulting evidence for compliance and recommend suitable subsequent actions.

Ownership and oversight of Market Conduct Actions as assigned. Preparing documents, memos, reports, or other assignments.

• Research, analyze, maintain, and implement the necessary tools needed to electronically research, compile, analyze, evaluate, synthesize, and present sound Market Conduct Databases

• Maintain, and implement tools and methodology for targeting potential examinees; coordinate and recommend examination targets

• Research, extract, compile, analyze, evaluate, synthesize, and present analysis reports pursuant to objectives and findings

• Research and analyze issues from market analysis; monitor and review insurance company market conduct practices, which may include in part: claim handling practices, rating practices, marketing and sales, and underwriting practices for compliance with insurance laws and rules

• Communicate with the Market Conduct Manager and Department personnel regarding regulatory intervention activities, obtaining necessary input on procedural and legal aspects of the regulatory intervention

• Review, research, and investigate insurance-related Cyber Security Data-Breach instances. Perform other projects as assigned

• Various administrative tasks in support of the Market Regulation and Consumer Services Division

• Attend various trainings, conferences, seminars, or presentations as required for, and related to, job functionality; this may at times require travel

Knowledge:

• Considerable knowledge of insurance terms, concepts, products, common industry practices, and forms

• State regulations pertaining to the operation of insurance companies, particularly in the areas of Life and Health and Property and Casualty lines of business

• Research and analysis methods ideally including statistical techniques

• Arizona's administrative law statutes, policies, procedures, forms, and formats; Extensive understanding of A.R.S. Title 20, A.AC. Chapter 20, Article 6

• Must understand appropriate business grammar usage in written and verbal communications

• Computer skills needed to operate and function with software such as Microsoft Word (word processing), Microsoft Excel (spreadsheets), etc.

• Sufficient knowledge and understanding that additional software and/or relational database skills may be needed (ACLJ, Teammate, Tableau, etc.)

Skills:

• The Analyst must be able to demonstrate exceptional analytical computer skills, whereby they can process and analyze extensive complicated data in order to provide reports that will assist the Market Conduct Section in selecting appropriate companies to target for further scrutiny by the examinations section, with the prior approval of the Department

• Critical thinking skills and ability to problem-solve

Abilities:

• Analyze difficult business and statistical data and draw logical conclusions

• Establish and maintain effective professional working relations with others

• Electronically and manually research, extract, organize, compile, analyze, evaluate, synthesize, and recommend sound and well-supported information concerning database issues

• Conduct research, and extract, compile, analyze, evaluate, synthesize, and present sound and well-supported information pursuant to objectives and findings

• Research statutes and administrative codes as necessary to formulate sound and well-supported conclusions

• Organize and prioritize a large and varied workload

• Work both as part of a team and individually with minimal oversight

• Speak and write articulately and assertively

• Legal training, certification, and/or license is desired

• At a minimum, the candidate will be required to attain and maintain the following designations: NAIC designation of APIR & IRES designation of MCM

• Preferred minimum of 3 years in an insurance-related field

• Data Analysis Experience

• Legal training, certification, and/or license is desired

• At a minimum, the candidate will be required to attain and maintain the following designations: NAIC designation of APIR & IRES designation of MCM

• If this position requires driving or the use of a vehicle as an essential function of the job to conduct State business, then the following requirements apply:Driver’s License Requirements.

The State of Arizona offers a comprehensive benefits package to include:

• Optional employee benefits include short-term disability insurance, deferred compensation plans, and supplemental life insurance

• Life insurance and long-term disability insurance

• Vacation plus 10 paid holidays per year

• Health and dental insurance

• Retirement plan

• Sick leave

Learn more about the Paid Parental Leave pilot programhere. For a complete list of benefits provided by The State of Arizona, please visit our benefits page

• Positions in this classification participate in the Arizona State Retirement System (ASRS)

• Please note that enrollment eligibility will become effective after 27 weeks of employment