Associate Financial Analyst

This recruitment will remain open until April 10, 2024. The agency reserves the right to make a hiring decision at any time after the initial screening date on March 25, 2024. It is in the applicant’s best interest to submit materials as soon as possible.
 
OIC CAREER OPPORTUNITY
 
The Office of the Insurance Commissioner’s (OIC) Financial Analysis is seeking a motivated and qualified individual to fill an Associate Financial Analyst (Financial Examiner 2) position.  This position is assigned to the Company Supervision Division, located in our Tumwater office. 
 
The mission of the Office of the Insurance Commissioner (OIC) is to protect consumers, the public interest, and our state’s economy through fair and efficient regulation of the insurance industry. The Associate Financial Analyst supports this mission by closely monitoring the financial condition of insurers and other regulated entities and taking timely action to help ensure these entities’ ability to financially perform on their obligations to consumer.
 
The successful incumbent will be joining an innovative, driven, and helpful team dedicated to high performance and timely responses. We seek an inquisitive individual capable of conducting research to drive their own conclusions, yet is not hesitant to ask questions when necessary.

 If you're interested in a dynamic career that protects consumers' interests and promotes a healthy business environment in this state, please apply and become part of our dynamic team.
 
This recruitment may be used to establish a qualified pool of candidates for Financial Examiner 2 vacancies in the next sixty days.
 
This is a Washington General Service position. The monthly salary range for this position is $5,479 - $7,368.
 
AGENCY PROFILE AND VALUES

The Office of the Insurance Commissioner (OIC) operates under the direction of the state's Insurance Commissioner, a statewide elected official. Our mission is to provide consumer protection and regulation of the state's insurance industry.
 
With a workforce of approximately 265 employees, we are one of the smaller state agencies in Washington state government and are fortunate to have a stable funding source that does not rely on the state's general fund.
 
Because we are a small agency, you will truly get a chance to understand the 'big picture' of what we do and why we do it. You will also have a chance to get to know your co-workers.
 
We value diversity in the workplace. We challenge our employees to continuously improve the way we do business and to meet and exceed the needs of our customers.
 
To learn more about this agency, we invite you to visit our website at http://www.insurance.wa.gov/ and listen to our employees talk about why they love working here. 
 
BENEFITS OF WORKING FOR OIC

Washington State offers one of the most competitive benefits packages in the nation. We offer a great selection of health and retirement plans, paid leave, and compensation benefits for you and your family.
 
Additional Benefits:
 

• Wellness programs.
• Dependent care assistance.
• Washington State Employee Assistance Program.
• Federal Social Security and Medicare systems.
• Additional Leave; Leave Sharing, Parental Leave, Family and Medical Leave Act (FMLA), Leave Without Pay.
• Deferred Compensation (supplemental retirement plan).
• Training and development opportunities, including tuition reimbursement.
• Program for Public Service Loan Forgiveness (if applicable)
• Free parking at our main office in Tumwater.
• A stable funding source that does not rely on the state's general fund.
• The fulfillment of public service.
• Excellent work-life balance.
• Flexible work schedules and telework opportunities.
• Commitment to diversity in the workplace and support one another with respect and trust.
• Free Thurston County Transit public transportation.

The duties of the position include, but are not limited to: 
 

• Reads and interprets applicable laws, regulations, and standards to ensure analyses are appropriately conducted.
• Assesses analysis-examination risk, and materiality.
• Prepares and completes analysis-examination procedures in accordance with accreditation standards.
• Obtains/downloads, prepares, and maintains necessary filings, documents, worksheets, and information from various sources.
• Creates, electronically stores, and maintains evidence documents about regulated entities.
• Reads and analyzes the regulated entity’s filings, documents and other information to assess the entity’s financial condition, statement assertions, and compliance with insurance laws, regulations, and standards.
• Evaluates analysis-examination procedures, programs, and findings to identify trends and determine priority rating of regulated entities.
• Follows established procedures to communicate material adverse findings.

Required Qualifications:
 

• A Bachelor’s degree from an accredited college or university whose accreditation is recognized by the U.S. Department of Education and the Council for Higher Education Accreditation (CHEA), or foreign equivalent and at least 36 quarter or 24 semester hours of accounting.

 
AND
 

• Two years of qualifying professional experience in accounting or auditing.

 
(A fifth-year bachelor's degree (225 quarter or 150 semester hours) or a master’s in accounting or business administration with a minimum of 36 quarter or 24 semester hours in accounting may substitute for one year of the required experience.)
 
“Qualifying professional experience” is defined as financial statement experience as an accountant, analyst, auditor, or examiner with a government entity, public accounting firm, private entity, regulated entity, insurance company, or financial institution. “Financial Statement” means balance sheet, income statement, changes in equity, cash flow statement, and notes thereto.
 
 
Preferred/Desired
 

• An active Certified Public Accountant (CPA) license granted by Washington State or another state that has reciprocity with Washington State.

 

• A designation of Accredited Financial Examiner (AFE) or Certified Financial Examiner (CFE) in an insurance discipline as granted by the Society of Financial Examiners (SOFE).

How to Apply: Applications for this recruitment will be accepted electronically. Please select the large green "apply" button at the top of this announcement. If you have not done so previously, you will need to set up an account profile.
 
Please provide three (3) professional references on your application. A professional reference is defined as an individual who has been paid to supervise your work and can attest to your work performance, technical skills, and job competencies. If you do not have any or sufficient professional references, please include non-related professionals, such as educators or other professional associates.
 
The initial screening will be based on the content and completeness of your application and the materials submitted. All information may be verified, and documentation may be required. Your letter of interest should describe how your experience, training and education make you a viable and competitive candidate for this position. Applications with comments such as "see attachments" or "see resume" in the supplemental question responses will be considered incomplete.

General suggestions for creating a good application:

• Read the job posting very carefully. Find out as much as you can about the position.
• Make sure you are very diligent in following all the application instructions.  Include all requested documentation. 
• Make sure your application and supplemental question responses address how you meet each of the required and desired qualifications. 
• Carefully read each of the supplemental questions and respond completely to each one. Pay attention to each component of the question, providing examples, and thoroughly describing when and where you achieved the experience. Detail the types of work you performed, the work products, etc., to demonstrate 'how'. 
• Specifically include all your work experiences doing the same or similar work, especially if you reference work in these jobs in describing when/where you gained experience or skills. 
• Make sure your application reflects your best writing.

Wage/salary depends on qualifications or state rules of compensation (if currently a state employee).
 
Contact us: For inquiries about this position, please contact Treese Beckett at recruitment@oic.wa.gov.
 
Other Information:

• This position is represented by the Washington Federation of State Employees (WFSE).
• State law (RCW 48.02.090[5]) prohibits employees of the OIC from having any interest, directly or indirectly, in an insurance company other than as a policyholder. This prohibition includes the receipt of renewal commissions. If employment is accepted with this agency, you agree to abide by this state law.
• If a degree or other credentials are listed by the candidate, proof will be required at the finalist stage. Candidates are encouraged to pre-plan for this.  University degrees must be recognized by the U.S. Department of Education and the Council for Higher Education Accreditation (CHEA) or foreign equivalent.
• If a degree was awarded outside the United States, candidates must provide a credential evaluation report.
• Prior to a new hire, a background check including criminal record history will be conducted. Information from the background check will not necessarily preclude employment but will be considered in determining the applicant’s suitability and competence to perform in the position. 
• If claiming veteran status, please send your DD 214 to recruitment@oic.wa.gov with FE2_2024-03221 in the subject line. Please do not attach the DD 214 to your application materials.   Please black out personally identifiable data such as social security numbers. 
• The Office of Insurance Commissioner is an equal opportunity employer. Auxiliary aides and services are available upon request to individuals with disabilities. Please contact the recruiter listed above.   
• If you are having technical difficulties creating, accessing (log in, password or email issues) or completing your application (error messages), please call toll-free at (855) 524-5627.
• For general questions regarding applying for jobs, contact the recruiter or careershelp@des.wa.gov.