Description and Functions

• Paid annual and sick leave
• Paid holidays
• Retirement with employer contributions
• Deferred Compensation Plan with employer contributions
• Health insurance with an employer contribution toward premiums
• Insurance options for health, dental, life, vision, ambulance, short and long-term disability
• Longevity pay
• Flexible Work Schedules to include hybrid office-telework opportunities

• Plans performs, and issues reports of examination of all Wyoming domestic insurance companies in accordance with Wyoming Statutes and NAIC standards for the purpose of monitoring financial solvency and statutory compliance.
• Reviews and gains an understanding of insurer operations, including its corporate governance structure and its enterprise risk management framework through a review of regulatory filings, discussions with Department staff, discussions with company personnel, review of public information, review of industry trends and other sources of information as applicable
• Exercises judgment to identify and assess financial solvency risks facing the company, from both a current and prospective risk perspective.
• Identify relevant controls and/or risk mitigation strategies to address risks identified and perform tests of controls to evaluate their effectiveness, as appropriate.
• Performs and documents the financial analysis of domestic insurance companies in accordance with Wyoming Statutes and NAIC standards for the purposes of monitoring financial solvency.
• Summarizes and documents results of analysis and assessment of risks based on information reviewed as well as communications with the insurer and other regulators.
• Corresponds with company executives, department staff, and other state, federal, or international regulators to investigate issues identified, evaluate company responses, and propose additional regulatory actions if warranted.
• Investigate and determine if the company is in compliance with state laws, rules, regulations, and NAIC standards and guidelines.
• Meets with consulting actuaries and insurers' CPA firms.
• Review applications of insurance companies applying for a license in Wyoming for compliance with statutory requirements; make recommendations to approve or deny applications.
• Reviews financial statements, plans of operation, actuarial opinions, CPA reports, contracts, corporate documents, complaints, regulatory actions, holding company act filings, and biographical affidavits.
• Performs annual reviews on insurance companies' premium tax returns to determine proper calculations and payments to the State of Wyoming.
• Performs examinations on pre-need funeral homes and perpetual care cemeteries.
• Encouraged to obtain the Accredited Financial Examiner (AFE) designation through testing and attending the appropriate amount of continuing education required.

Qualifications

PREFERENCES:

Preference may be given to those who have knowledge of and experience with insurance regulation, auditing and/or public accounting. CPA or CPA candidate, CFE, CIA, or CISA preferred.

• Knowledge of Generally Accepted Accounting Principles (GAAP) and Statements of Statutory Accounting Principles (SSAP).
• Knowledge of the National Association of Insurance Commissioners (NAIC) Financial Examiners Handbook and Financial Analysis Handbook.
• Knowledge of Wyoming insurance laws and regulations.
• Ability to research and consistently apply state laws, insurance department regulations, and NAIC statutory accounting practices.
• Knowledge of exam planning procedures, internal controls, sampling techniques, testing procedures, work paper preparation/documentation, review procedures and report writing.
• Knowledge of financial analysis techniques and ratios.
• Ability to understand and evaluate the enterprise risk management functions of insurers.
• Ability to think critically and make decisions based on reasonable and timely analysis.
• Ability to understand and evaluate risks, as well as risk mitigation strategies and controls.
• Ability to see the big picture of the organization.
• Ability to multi-task and manage time effectively
• Ability to work in and contribute to a team environment.
• Strong communication skills (both written and verbal).
• Ability to participate in presentations and discussions of examination findings.
• Ability to adapt to changing expectations and environments.
• Proficient with MS Office and other software.

Necessary Special Requirements

• Work is mainly performed in an office setting.
• Travel may be required to complete examinations and to attend conferences.

• FLSA: Exempt
• This position requires the completion of a criminal background check.

Supplemental Information

Working for the State of Wyoming provides employees with a range of valuable benefits and offers a fulfilling career path. Employees enjoy comprehensive healthcare coverage, including medical, dental, and vision plans, ensuring their well-being and that of their families. Additionally, the state offers multiple retirement plans, which provide financial security and stability for employees once their career in public services comes to an end. the state recognizes the importance of personal time and offers generous paid time off and flexible arrangements, allowing employees to recharge, take care of personal matters, and maintain a healthy work-life integration.

There are many benefits to living and working in Wyoming. Beautiful country with wide-open spaces, clean air, great recreational activities, and no State income tax to mention a few!

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