State of Connecticut Executive Branch

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.

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 either Certified Financial Examiner (CFE), Certified Information System Auditor (CISA) or Certified Public Accountant (CPA). Assignments routinely include serving as examiner in charge of association examinations.

Receives general direction from an Insurance Supervising Examiner or employee of a higher grade.

Leads insurance examiners and lower level staff as assigned.

• 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; 
• May conduct information systems and market conduct compliance audits; 
• Performs related duties as required.

• Considerable knowledge of
  • and ability to apply relevant state and federal laws, statutes and regulations; 
  • and ability to examine and audit insurance companies information systems; 
  • relevant agency policies and procedures; 
  • accounting and auditing principles and practices 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
  • analyze and evaluate insurance company financial statements and reports by Certified Public Accountants, actuaries and consultants; 
  • ability to assess market conduct; 
• Ability to utilize computer software;
• Some supervisory ability.

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, automated controls reviews or actuarial work in the insurance industry.

One (1) year of the General Experience must have been in an advanced working level or consultative capacity in professional work in insurance examining, auditing or automated controls reviews.

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

This replaces the existing specification for the class of Insurance Certified Financial Examiner in Salary Group AR 30 approved effective March 16, 2018. (Revised to modify content and Special Requirements and add Acknowledgement section) Final No. 23-010