POSITION SUMMARY

Insurance Financial Examiners are part of the Division of Financial Regulation. The Division of Financial Regulation monitors the financial condition of licensed insurers and performs in-depth risk-focused analysis and examinations/audits (financial, internal control, and compliance) of over 175 insurers domiciled in Wisconsin. The risk-focused approach used by insurance regulators across the country goes far beyond financial reporting and audit risk on an insurers’ balance sheet. Insurance Financial Examiners review and assess organizational-wide business risks including strategic, operational, and prospective issues that impact solvency risks inherent in an insurer’s operations, including investigation of mitigating strategies to bring risks to an acceptable level.
The Division of Financial Regulation has 62 employees in total, including 57 Examiner positions.
The IFE positions provide a built-in career path. New Examiners are expected to learn and gain experience with OCI’s operating procedures regarding audits and analysis. When this knowledge and experience is gained, it is possible to progress to the IFE Journey level.
The IFE Journey level is the point where an employee has gained knowledge of the appropriate statutes, accounting and rules, analysis and examination techniques, etc. and can act as the Examiner-in-Charge of routine medium-sized examinations. It is expected that all IFE positions will progress to the Journey level.
Further promotional opportunities to IFE Senior and IFE Advanced are possible after obtaining the credentials of Accredited Financial Examiner (AFE) and Certified Financial Examiner (CFE), respectively. At the IFE Advanced level, positions function as the Examiner-in-Charge of the largest and most complex insurers. Please click here for the IFE Career Path.
The Office of the Commissioner of Insurance promotes and assists with certification and training opportunities, including the Society of Financial Examiners (SOFE) AFE and CFE certifications, as well as various training/certification opportunities through the National Association of Insurance Commissioners (NAIC). OCI also provides significant on-the-job training, as well as training required to maintain various credentials that are relevant to being an IFE (e.g. Certified Public Accountant).
For information about the Office of the Commissioner of Insurance, please click here learn more.
This position is located in downtown Madison, Wisconsin and offers the ability to work remotely on Mondays and Fridays.
This position will become familiar with internal operating procedures and insurer business strategies through the examination and analysis processes via in‑office insurance company analysis and assisting in field examinations. In-office Analyst duties include the review of annual and quarterly financial statements and annual CPA audit reports, audit of premium tax returns, and other miscellaneous assignments. These duties are performed extensively from March to June, and periodically during the rest of the year.
In-field Examiner duties include on-site examinations and testing of company internal/financial controls, accounting records, statutory compliance, review of external and internal audit reports and workpapers, and assessing strategic, governance and operational issues to evaluate the entire solvency risk of insurer operations. These duties are performed extensively from July to February.
For more information, please view the complete Insurance Financial Auditor position description.

QUALIFICATIONS

Minimally Qualified candidates will have either of the following. Please ensure you provide a transcript with your application that includes the courses listed below to be considered for the position.

• Bachelors’ Degree or will graduate with a Bachelors’ Degree prior to starting employment, in accounting, finance, insurance, risk management, economics or business and has completed ALL of the following courses:
• Accounting Fundamentals (6 semester hours)
• Finance or Economics (3 semester hours)
• Business Law (3 semester hours)
• The three semester hours of business law requirement may be met through the successful completion of the college level law courses offered by the Life Office Management Association (LOMA), Charter Property Casualty Underwriter (CPCU), or Chartered Life Underwriter (CLU), may be substituted for the required hours.

HOW TO APPLY

Apply online! To apply, click “Apply for Job” to start the application process. Then, you will access your existing account or to create a new account if you don’t have an account. Once you are logged in, click “Apply for Job.” Follow the steps outlined in the application process and submit your application. Please visit the Frequently Asked Questions section for general wisc.jobs user information and technical assistance.
Your letter of qualifications and resume are very important parts of your application and are used during our evaluation process to determine your qualifications as they relate to the job. Please review instructions on developing your resume and letter of qualifications. Your cover letter is limited to a maximum of two (2) typed pages, single-spaced, no smaller than 10-point font, with 1-inch margins. Resumes should be limited to no more than two (2) pages (no format requirements). Pages more than the specified limits may not be evaluated. References are not necessary at this stage of the process.
Submitted materials will be evaluated and the most qualified applicants will be invited to participate in the next step of the hiring process for available vacancies.
Permanent classified state employees who are eligible for consideration (transfer or voluntary demotion) should complete the application process as described above by the stated deadline.
The State of Wisconsin is an Equal Opportunity and Affirmative Action employer seeking a diverse and talented workforce. Veterans, women, people of color, members of the LGBTQIA+ community, and people with disabilities are encouraged to apply. We provide reasonable accommodations to qualified applicants and employees with disabilities.
If you are a veteran with a 30% or greater service-related disability and are not currently employed in a permanent position with Wisconsin State Government, please send a cover letter, resume, DD-214 and documentation of your service-connected disability rating (dated within 12 months) to the contact listed below.
Questions can be directed to Pilar Blomquist at pilare.blomquist@wisconsin.gov or 715-831-3220.

Please refer the Job description for details