State of Connecticut Executive Branch

Insurance Certified Supervising Examiner (4979AR)

$51.13-$69.72 Hourly / $4,090.23-$5,577.21 BiWeekly /
$106,755.00-$145,565.00 Yearly

PURPOSE OF JOB CLASS (NATURE OF WORK)

In the Insurance Department this class is accountable for supervising the work of Insurance Examiners engaged in the examination of the financial and business records of domestic insurance companies or supervising the review of the analysis of financial statements of licensed insurance companies including responsibility for certifying the accuracy and completeness of financial audits, by signature, of association examinations.

GUIDELINES FOR JOB CLASS USE

This is a supervisory level, responsible for supervising and coordinating the examination work of examiners of lower grade in concurrent examinations of domestic and foreign insurance companies or supervising a team of examiners involved in the audit of annual, quarterly and other financial statements of regulated companies. Incumbents in this class must possess the designation of Certified Financial Examiner (CFE) or Certified Public Accountant (CPA). Assignments will include concurrently supervising multiple association examinations.

SUPERVISION RECEIVED

Receives general direction from the Director of the Examination Division or an Insurance Program Coordinator.

SUPERVISION EXERCISED

Supervises insurance examiners and other staff as assigned.

EXAMPLES OF DUTIES

  • Schedules, assigns, oversees and reviews the work of examiners investigating the financial condition, operations and market conduct compliance of insurance companies or licensed insurance entities including association examinations; 
  • Provides staff training and assistance; 
  • Conducts performance evaluations; 
  • Determines priorities and plans unit work; 
  • Establishes and maintains unit procedures; 
  • Develops or makes recommendations on the development of policies, standards, regulations and laws; 
  • Acts as liaison with other operating units, agencies and outside officials regarding unit policies and procedures; 
  • Discusses with company officials its condition as reflected by the examination and any indication of violation of state laws or regulations; 
  • Prepares final reports of examinations or financial analysis for submission to the Director or Program Coordinator; 
  • Performs related duties as required.

KNOWLEDGE, SKILL AND ABILITY

  • Considerable knowledge of
    • relevant agency policies and procedures; 
    • and ability to apply relevant state and federal laws, statutes and regulations; 
    • the accounting and auditing principles involved in the examination of insurance companies; 
    • the organization and business practices of insurance companies; 
  • Considerable
    • interpersonal skills; 
    • oral and written communication skills; 
  • Considerable ability to
    • plan and direct a large-scale examination program; 
    • interpret and evaluate financial statements; 
  • Supervisory ability.

MINIMUM QUALIFICATIONS - GENERAL EXPERIENCE

Nine (9) years of experience in one or more of the following areas: regulatory examination of financial condition or market conduct of insurance companies; accounting, auditing, and/or actuarial work in the insurance industry.

MINIMUM QUALIFICATIONS - SPECIAL EXPERIENCE

Two (2) years of the General Experience must have been in a lead or consultative capacity in professional work in insurance examining or auditing. 

NOTE: For state employees this experience is interpreted at the level of an Insurance Financial Examiner.

MINIMUM QUALIFICATIONS - SUBSTITUTIONS ALLOWED

  • 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.
  • A Master's degree in accounting, insurance, business, finance, or economics may be substituted for one (1) additional year of the General Experience
  • 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

  • Incumbents must possess at time of appointment and maintain during employment the designation of Certified Financial Examiner (CFE) or Certified Public Accountant (CPA).
  • Incumbents in this class may be required to travel.

JOB CLASS DESIGNATION

Classified/Non-Examined

OCCUPATIONAL GROUP

(15)-Insurance Programs and Control

BARGAINING UNIT

(16)-ADMIN & RESID (P-5)

EEO

(2)-Professional

SALARY INFORMATION

AR2 66

ACKNOWLEDGEMENT

As defined by Sec. 5-196 of the Connecticut General Statutes, a job class is a position or group of positions that share general characteristics and are categorized under a single title for administrative purposes.  As such, a job class is not meant to be all-inclusive of every task and/or responsibility.

CANCELLATION CLAUSE

This replaces the existing specification for the class of Insurance Certified Supervising Examiner in Salary Group AR2 66 approved effective April 29, 2021. (Revised to modify content, modernize format, and add Acknowledgement section) Item No. 24-097

EFFECTIVE DATE

11/07/2024
CLASS: 4979AR; REV: 11/13/2024;