Classified/Non-Examined 
Class Code Pay Plan Class Title Eff.Date
4980  AR - 30 INSURANCE CERTIFIED FINANCIAL EXAMINER  Aug 5, 2016
PURPOSE OF CLASS:
In the Insurance Department, Financial Regulation Division, this class is accountable for leading insurance examiners in performing the most complex examinations of the financial and business records of insurance companies to assess financial conditions and market conduct compliance including responsibility for certifying the accuracy and completeness of financial audits, by signature of association examinations.
GUIDELINES FOR CLASS USE:
This is a working lead level which is distinguished from lower level insurance examiner classes by responsibility for supervising and coordinating the examination work of a team of Examiners on large multi-line insurance companies. Incumbents in this class must possess the designation of a Certified Financial Examiner (CFE)or a Certified Public Accountant (CPA). Assignments routinely include serving as examiner in charge of association examinations.
SUPERVISION RECEIVED:
Receives general direction from an Insurance Supervising Examiner or employee of a higher grade.
SUPERVISION EXERCISED:
Leads insurance Examiners and lower level staff as assigned.
EXAMPLES OF DUTIES:
Schedules, assigns, oversees and reviews the examination assignment work of team members; serves as examiner in charge of association examinations; provides staff training and assistance regarding procedures and techniques; assists in conducting performance evaluations; assists in determining unit priorities and plans; assists in establishing and maintaining unit procedures; assists in the development of standards and examination procedures; acts as liaison with other operating units, agencies and outside officials regarding unit policies and procedures; prepares reports and correspondence; supervises and coordinates insurance examination activities including auditing financial statements and holding company reports; assists in determining areas to be examined; oversees analysis activities and provides guidance to less experienced examiners regarding procedure and techniques; participates in hearings on financial condition of insurers; drafts hearing notices issued to insurers for violation of statutes and regulations; recommends administrative sanctions; may conduct financial examinations; may conduct examinations of financial conditions and market conduct compliance; performs related duties as required.
MINIMUM QUALIFICATIONS REQUIRED
KNOWLEDGE, SKILL AND ABILITY:
Considerable knowledge of relevant agency policies and procedures; considerable knowledge of and ability to apply relevant state and federal laws, statutes and regulations; considerable knowledge of accounting and auditing principles and practices involved in the examination of insurance companies; considerable knowledge of the organization and business practices of insurance companies; considerable ability to analyze and evaluate insurance company financial statements and reports by Certified Public Accountants, actuaries and consultants; considerable interpersonal skills; considerable oral and written communication skills; some supervisory ability; ability to utilize computer software.
EXPERIENCE AND TRAINING:
General Experience:
Eight (8) years of experience in one or more of the following areas: regulatory examination of financial condition or market conduct of insurance companies; accounting, auditing or actuarial work in the insurance industry.
Special Experience:
One (1) year of the General Experience must have been in an advanced working level or consultative capacity in professional work in insurance examining or auditing.
NOTE:
For State Employees, this is interpreted at the level of Insurance Financial Examiner.
Substitutions Allowed:
1.
College training in Accounting, Insurance, Business, Finance, Actuarial Science or Economics may be substituted for the General Experience on the basis of fifteen (15) semester hours equalling one-half (1/2) year of experience to a maximum of four (4) years for a Bachelor's degree.
2.
A Master's degree in Accounting, Insurance, Business, Finance or Economics may be substituted for an additional year of the General Experience.
3.
Certification in any of the following may be substituted for one (1) additional year of the General Experience: Certified Public Accountant, Certified Internal Auditor.
SPECIAL REQUIREMENTS:
1.
Incumbents must possess at time of appointment and maintain during employment the designation of Certified Financial Examiner (CFE) or Certified Public Accountant (CPA).
2.
Incumbents in this class may be required to travel.
3.
Incumbents in this class may be required to possess and retain a valid Motor Vehicle Operatorís license.
Note:
Non-Examined refers to Section 5-219 of the Connecticut General Statutes which permits appointment of candidates to competitive positions without formal examination when a professional license, professional degree, accreditation or certificate is a mandatory requirement for appointment to a class.

This replaces the existing specification for the class of Insurance Certified Financial Examiner in Salary Group AR 30 approved effective February 15, 2012. (Revision to Guideline for Class Use and Special Requirements)

4980A 8/9/16 cm
CC Final#  Occup. Group Bargaining Unit EEO
4980  2335  (15)-Insurance Programs and Control
(16)-ADMIN & RESID (P-5)
(2)-Professional