Job: Market Conduct Insurance Examiner

Position Description

Market Conduct Insurance Examiner

Anticipated Salary Range : $51,300-$60,000

Salary Commensurate with Qualifications and Experience

The Virginia State Corporation Commission's (SCC) Bureau of Insurance (BOI) has multiple openings for Market Conduct Insurance Examiners in the Property & Casualty (P&C) Division and the Life & Health (L&H) Division.

A Market Conduct Insurance Examiner performs examinations of the market practices of insurance companies in Virginia. These team-based examinations include interaction with insurance company personnel during the review of claim practices, policy rating and underwriting, forms, policy issuance, complaint handling, and advertising for compliance with Virginia statutes and regulations.

These positions require travel both in and out of state. The SCC offers a hybrid work schedule, generally 3 days of telework and 2 days in office each week, as well as career growth with professional development opportunities including on-the-job training, certifications, and designations.

Essential Duties and Responsibilities

• Review company records and procedures for claims, advertising, forms, terminations, rating, agent licensing, complaint handling, and policy issuance to determine compliance with applicable statutes and regulations
• Analyze financial and market data to identify compliance issues that may require further analysis or examination
• Prepare for each examination by participating in training and reading the exam justification and market analysis file
• Utilize internal procedures and NAIC guidelines to perform market conduct reviews
• Document examination findings and submit written reports of findings for the overall examination report
• Draft clear, effective, and professional communication to company officials regarding examination and investigation findings
• Learn and use various software applications
• The Property & Casualty Market Conduct Insurance Examiner monitors the personal auto and home; commercial auto, property, and general liability;

and premium finance markets, while also analyzing P&C insurers conducting business in Virginia.

The Life & Health Market Conduct Insurance Examiner monitors the health insurance market, while also analyzing health insurers conducting business in Virginia.

This includes major medical health insurance, Medicare supplement insurance, mental health parity, Affordable Care Act (ACA) requirements, provider contracting, prior authorizations, and pharmacy benefit management.

Qualifications

Preferred Qualifications

• Professional experience in insurance including underwriting, insurance forms and products, and / or claims handling
• For P&C Examiner : Experience in underwriting, product development and management, insurance business practices, and / or knowledge of the laws and regulations pertaining to property & casualty insurance is preferred
• For L&H Examiner : Experience with health insurance; knowledge of insurance terminology; and / or knowledge of the laws and regulations applicable to health insurance, mental health parity, Medicare supplement, and managed care plans is a plus
• Without relevant professional experience, a bachelor's degree is a minimum requirement
• Ability to review insurance policies and related forms
• Ability to analyze and interpret relevant Virginia insurance laws and regulations
• Proficiency in Microsoft Excel and database software for data analytics and reports
• Ability to express ideas clearly and effectively both verbally and in writing
• Exceptional research and comprehension skills, including analysis and the application of critical thinking skills
• Ability to work in a fast-paced environment, manage tasks independently, and remain focused on work for extended periods of time
• Natural curiosity with a lifelong learning mindset
• Ability to travel up to 20% of the time, both in and out of state
• Ability to establish and maintain effective working relationships with SCC staff, insurance industry personnel, and other regulators
• Course work in insurance or risk management is a plus
• Insurance related certifications and designations are a plus

SCC Information

Located in downtown Richmond, the State Corporation Commission (SCC) is an independent state agency with regulatory authority over public utilities, insurance, state-chartered financial institutions, investment securities, retail franchising, and utility and railroad safety, as well as serving as the state's central filing office for businesses.

The SCC is also charged with administering Virginia's health insurance marketplace. The SCC's structure is unique. No other state has a single agency with such a broad array of regulatory responsibility.

The SCC offers its employees rewarding, impactful public service work; flexible telework options and work-life balance; and professional development opportunities.

We foster a high-performing workforce with a commitment to diversity and inclusion, collaboration, and alignment with the SCC's mission and strategic goals.

Core benefits include competitive health and life insurance programs, pre-tax spending accounts, leave programs, and paid state holidays.

Employees participate in a state retirement plan with options for tax-deferred retirement savings including employer matching.

The state funds a short and long-term disability program.

The SCC regulates various companies and industries in Virginia; therefore, to avoid any conflict, employees are required to sign a Conflict of Interest Form and must dispose of any stock they hold in a regulated company or dispose of any licenses or certificates they hold in any industry regulated by the SCC unless otherwise permitted.

Employees also shall report employment of household members by a regulated company.

The SCC does not provide employer sponsorship. We use the E-Verify system to confirm identity and work authorization.

The SCC is an Equal Opportunity Employer. As a Virginia Values Veterans (V3) Certified Employer, we value and encourage veterans and members of the Reserves and National Guard to apply.

The information you submit must clearly demonstrate your experience and qualifications as they relate to this position. Interview consideration is based on the information submitted online.

If requested, the SCC will provide reasonable accommodation to applicants in need of accommodation to provide access to the application and interview process.

A background investigation is conducted on the selected candidate as a condition of employment.

This position is classified in the SCC Salary Structure as a P-7 or P-9 and will be non-exempt or exempt from the provisions of the Fair Labor Standards Act (FLSA) depending on the candidate's qualifications and experience.

How To Apply

This position will remain open until filled; however, interested candidates are strongly encouraged to apply by November 6, 2024 .

Qualified internal and external candidates are encouraged to apply. If you are an external candidate, click the Apply button on this page.

If you are an internal candidate, apply using eSCC (Oracle) - iRecruitment Employee Candidate.

Minimum Salary 51300.00 Maximum Salary 60000.00 Ad Close Date