Financial Analyst I

Financial Analyst I

Insurance is a unique product in that an insurance company collects premiums upfront with the promise to pay in the future; as a result, there is strong need for financial regulations and related ongoing monitoring to ensure insurance companies remain solvent. Our Financial Regulation Division is responsible for monitoring the financial solvency of one of the largest domestic industries in the country. As part of our financial solvency monitoring, we conduct ongoing analysis of quarterly financial statements and other statutory filings and conduct on-site financial examinations every three to five years. We take a risk-focused approach and strive to identify financial issues early to address problems and / or rehabilitate companies prior to insolvency. Our financial analysts are experts in monitoring the financial well-being and compliance for more than one hundred (100) insurance companies, which is a very important service to the citizens of Nebraska, as well as citizens in other states. Please note this job is not eligible for remote work. Work is performed at our office location in Lincoln, NE.

Look at what we have to offer!

• 13 paid holidays
• Vacation and sick leave that begin accruing immediately
• Military leave
• 156% state-matched retirement
• Tuition reimbursement
• Employee assistance program
• 79% employer paid health insurance plans
• Dental and vision insurance plans
• Employer-paid $20,000 life insurance policy
• Public service loan forgiveness program (PSLF) through the federal government
• Wide variety and availability of career advancement as the largest and most diverse employer in the state
• Opportunity to be part of meaningful work and make a difference through public service
• Training and development based on your career aspirations
• Fun, inviting teammates
• A safe and secure environment

At the State, we stand by our core values of treating others with dignity and respect, acting ethically in all situations, and creating an environment where our customer is our top priority.

Job duties include performing in-depth analysis of financial statements and supplemental filings to assess the insurance company's financial condition, to identify prospective risks and to detect possible regulatory / compliance violations. Review and interpret laws, regulations, and statutory accounting principles as they apply to insurance companies. Complete work in conformance with the National Association of Insurance Commissioners (NAIC) timelines and best practices. Review independent rating agencies' reports, SEC filings, holding company filings, current trade periodicals, news items, legislation, and NAIC tools, policies, and guidelines. Correspond with company executives, department staff, and other regulators to discuss and evaluate compliance and whether regulatory actions are needed. Prepare and present summary reports and recommended actions to the Assistant Chief Examiner and other NDOI senior management as assigned. Organize and maintain files containing insurance company information and workpapers. Other duties as assigned within the scope of the classification.

Requirements / qualifications include a bachelor's degree from an accredited college or university in a business-related field with a preference for accounting or finance courses, including auditing. Accounting / auditing work experience is beneficial. In addition, applicant should have at least three hours of business law. Advancement does require completion of at least three hours of management coursework, which can be acquired after hire, as well as meeting other requirements such as experience and verification of proven technical abilities.

Knowledge, skills, and abilities include an analytical mindset, organized, detail-oriented, self-started, and ability to work independently with support. Knowledge of theory and practice of accounting and auditing. Working knowledge of Microsoft Excel, Word, and Outlook. Ability to analyze financial data, company operations, and preparation of reports. Effective communication skills, both orally and written to present information, comments, and recommendations clearly, concisely and comprehensively.

Benefits

We offer a comprehensive package of pay, benefits, paid time off, retirement, and professional development opportunities to help you get the most out of your career and life. Your paycheck is just part of your total compensation. Check out all that the State of Nebraska has to offer! Benefit eligibility may vary by position, agency, and employment status. For more information on benefits, please visit : https : / / statejobs.nebraska.gov / index.html#benefits

Equal Opportunity Statement

The State of Nebraska values our teammates as well as a supportive environment that strives to promote diversity, inclusion, and belonging. We recruit, hire, train, and promote in all job classifications and at all levels without regard to race, color, religion, sex, age, national origin, disability, marital status, or genetics.

Current employees of the State of Nebraska should not apply on this external career. Instead, go to Workday and access the Jobs Hub - Internal Apply app from your home landing page.