Insurance Company Financial Analyst Trainee - Harrisburg, United States - Commonwealth of Pennsylvania

Description

THE POSITION

Are you looking for a fast-paced career which allows you to enhance your professional toolkit and utilize your acquired accounting and finance knowledge? The Insurance Department is seeking an Insurance Company Financial Analyst Trainee to participate in a progressively responsible training program to learn to perform the work of an Insurance Company Financial Analyst. This in entry-level work in which you will learn the basics of the U.S. Solvency Framework, including the state-based system supported by the National Association of Insurance Commissioners (NAIC) and the risk-focused analysis process, statutory accounting principles, and the department's laws, regulations, rules, and procedures. Choose a career path which encourages advancement and growth, apply today

DESCRIPTION OF WORK

As an Insurance Company Financial Analyst Trainee, you will assist in the review and analysis of financial, transactional, and operational records, required filings, and other related items, including but not limited to biographical affidavits, financial examination reports, and business plans. You will independently study the Financial Analysis Procedures Manual, various NAIC publications, and other specific reading material included in the program.

You will learn the importance of analyzing reported financial results and identifying key financial risks in the ongoing solvency monitoring process, in addition to becoming adept with using software applications to record and assist with the financial analysis work product, such as TeamMate. You will also learn to review business plans and pro forma financial statements and understand the importance of this information in relation to a company's operations, risk management, and financial results.

You will learn how to customize the nature and extent of financial analysis procedures performed to ensure the effectiveness and efficiency in accordance with the size, risk, and complexity of the insurer. This position affords the opportunity to learn how to locate and stay apprised of industry trends through the review of business journals, industry publications, and more to assist with financial analyses and solvency monitoring. Acquire the basics of reinsurance, including terminology, purpose, and how various types of reinsurance are structured.

Work Schedule and Additional Information:

• Full-time employment
• Work hours are 8:00 AM to 4:30 PM, Monday - Friday, with a 60-minute lunch.
• Alternate work schedule (AWS) may be available based upon operational need.
• Telework: You may have the opportunity to work from home (telework) part-time. In order to telework, you must have a securely configured high-speed internet connection and work from an approved location inside Pennsylvania. If you are unable to telework, you will have the option to report to the headquarters office in Harrisburg.
• Salary:In some cases, the starting salary may be non-negotiable.
• You will receive further communication regarding this position via email. Check your email, including spam/junk folders, for these notices.

REQUIRED EXPERIENCE, TRAINING & ELIGIBILITY

QUALIFICATIONS

Minimum Experience and Training Requirements:

• A bachelor's degree in insurance, accounting, finance, economics, business administration, risk-management, or a closely related field, which includes 15 college credits in accounting, finance, or auditing; or
• An equivalent combination of experience and training which includes 15 college credits in accounting, finance, or auditing.

Other Requirements:

• You must meet the PA residency requirement. For more information on ways to meet PA residency requirements, follow the link and click on Residency.
• You must be able to perform essential job functions.

How to Apply:

• Resumes, cover letters, and similar documents will not be reviewed, and the information contained therein will not be considered for the purposes of determining your eligibility for the position. Information to support your eligibility for the position must be provided on the application (i.e., relevant, detailed experience/education).
• This posting requires submission of a copy of your college transcript(s). Unofficial transcripts are acceptable. You may upload your document as an attachment during the application process. You must still complete the application and answer the supplemental questions. All documents MUST be uploaded prior to the submission of your application.
• Your application must be submitted by the posting closing date. Late applications and other required materials will not be accepted.
• Failure to comply with the above application requirements may eliminate you from consideration for this position.

Veterans:

• Pennsylvania law (51 Pa. C.S. *7103) provides employment preference for qualified veterans for appointment to many state and local government jobs. To learn more about employment preferences for veterans, go to and click the Veterans' Preference tab or contact us at ra-cs-

Telecommunications Relay Service (TRS):

• 711 (hearing and speech disabilities or other individuals).

If you are contacted for an interview and need accommodations due to a disability, please discuss your request for accommodations with the interviewer in advance of your interview date.

The Commonwealth is an equal employment opportunity employer and is committed to a diverse workforce. The Commonwealth values inclusion as we seek to recruit, develop, and retain the most qualified people to serve the citizens of Pennsylvania. The Commonwealth does not discriminate on the basis of race, color, religious creed, ancestry, union membership, age, gender, sexual orientation, gender identity or expression, national origin, AIDS or HIV status, disability, or any other categories protected by applicable federal or state law. All diverse candidates are encouraged to apply.

EXAMINATION INFORMATION

• Completing the application, including all supplemental questions, serves as your exam for this position. No additional exam is required at a test center (also referred to as a written exam).
• Your score is based on the detailed information you provide on your application and in response to the supplemental questions.
• Your score is valid for this specific posting only.
• You must provide complete and accurate information or:
  • your score may be lower than deserved.
  • you may be disqualified.

You may only apply/test once for this posting.

Your results will be provided via email.