INSURANCE ANALYST SPECIALIST

Why Work for Illinois?

Working with the State of Illinois is a testament to the values of compassion, equity, and dedication that define our state. Whether you’re helping to improve schools, protect our natural resources, or support families in need, you’re part of something bigger—something that touches the lives of every person who calls Illinois home.

No matter what state career you’re looking for, we offer jobs that fit your life and your schedule—flexible jobs that provide the gold standard of benefits. Our employees can take advantage of various avenues to advance their careers and realize their dreams. Our top-tier benefits and great retirement packages can help you build a rewarding career and lasting future with the State of Illinois.
 

Position Overview

The Illinois Department of Insurance is seeking to hire an Insurance Analyst Specialist in the Property and Casualty Corporate Regulation Unit of the Corporate Regulation Section of the Financial Solvency Division. This position performs technical duties involving the review of incorporation papers of domestic property and casualty insurance companies, amendments to articles of incorporation and by-laws, and biographical data and background reports of officers, directors and incorporators of domestic, foreign and alien insurance companies for compliance with the Illinois Insurance Code and rules and regulations; corresponds and confers with company representatives, policyholders, stockholders, and the general public regarding regulatory laws and regulations governing corporate matters of property and casualty insurance companies; processes service of process served upon the Director as registered agent; compiles and extracts information and data from reinsurance agreements, merger agreements and purchase agreements to update and maintain the historical tracking system, and updates and maintains the official files of all property and casualty insurance companies, group worker compensation pools, religious and charitable poll trusts, risk retention groups and captive self-insureds; answers corporate 800 phone line; provides assistance to lower level and professional staff in the compilation of various reports involving corporate transactions. We invite all qualified applicants to apply.

Essential Functions

• Reviews incorporation papers of domestic property and casualty insurance companies, amendments to articles of incorporation and by-laws, and biographical data and background reports of officers, directors, and incorporators of domestic, foreign, and alien insurance companies for compliance with the Illinois Insurance Code and rules and regulations; oversees property and casualty companies official files:
  • presents documentation to supervisor for disposition,
  • maintains property and casualty corporate domestic official files, and updates foreign and alien corporate official files in SharePoint database,
  • prepares reports, certificates, and documents for supervisor,
  • processes surplus lines producer licenses and filings.
• Corresponds and confers with company representatives, policyholders, stockholders, and the general public regarding regulatory laws and regulations governing corporate matters of property and casualty insurance companies including responding to service of process inquiries:
  • answers corporate section 800 line,
  • processes and mails numerous property and casualty service of process filings served upon the Director of Insurance as registered agent of certain companies,
  • refers difficult matters requiring interpretation of departmental policy to supervisor.
• Compiles and extracts information and data from National Association of Insurance Commissioners (NAIC) Uniform Certificate of Authority (UCAA) filings, reinsurance agreements, merger agreements and purchase agreements to update and maintain the historical tracking system for property and casualty insurance companies, group worker compensation pools, religious and charitable poll trusts, risk retention groups and captive self-insureds:
  • analyzes transactions to update the company database (i.e., names, addresses, authority, amendments to charters and by-laws, reports of examination, types of insurers, and other pertinent information),
  • prepares division letter monthly or semi-monthly enumerating all company address and phone number changes, listing all newly licensed companies, cancelled companies, and all changes to Certificates of Authority during the specific time frame and distributes to DOI staff and other entities,
  • updates NAIC database regarding active and inactive companies in Illinois.
• Provides assistance to lower level and professional staff in the compilation of various reports involving corporate transactions which are directed to other states, companies, or internal staff:
  • prepares various types of certificates,
  • requests the preparation of invoices in order to collect fees and charges due the Department.
• Performs other duties as required or assigned which are reasonably within the scope of the duties enumerated above.

Minimum Qualifications

• Requires knowledge, skill, and mental development equivalent to completion of four years of high school.
• Requires one year of professional experience as an Insurance Analyst or two years of experience in the insurance industry.

Preferred Qualifications

• Prefers at least two (2) years of experience related to the Insurance Code and rules, regulations and procedures and processes pursuant thereto, particularly as related to property and casualty types of corporate and financial statutes, regulations, and transactions.
• Prefers at least three (3) years of experience operating Microsoft Office applications such as Word and Excel.
• Prefers at least two (2) years of experience working with the functions, products, and services of the department.
• Prefers at least two (2) years of experience working to analyze and determine facts, information, and data to make correct and accurate decisions and conclusions.
• Prefers at least two (2) years of experience writing letters and reports containing descriptive and quantitative inclusions.
• Prefers at least two (2) years of experience proficiently articulating facts, figures, and descriptions in a comprehensible mode.
• Prefers at least one (1) year of experience with or knowledge of the corporate regulatory framework of the National Association of Insurance Commissioners pertaining to corporate regulation of domestic and foreign insurers and the processing of surplus lines licenses.
• Prefers experience with background reporting and background databases.

Employment Conditions

• Requires the ability to pass a background check.
• The conditions of employment listed here are incorporated and related to any of the job duties as listed in the job description. 

About the Agency

The Department of Insurance (DOI) regulates the insurance market in the State of Illinois including, but not limited to, licensing and educating insurance agents, investigating Workers Compensation fraud, and examining the operations and finances of insurance companies domiciled in the state. We are committed to protecting consumers and regulating the insurance industry with innovation and efficiency. DOI has approximately 220 employees who are split between our Chicago and Springfield offices.

State of Illinois employees enjoy a robust benefit package, including:
    • Health, Life, Vision, and Dental Insurance
    • 13 Paid Holidays annually, 14 on even numbered years
    • 10-25 days of Paid Vacation time annually - (10 days in year one of employment)
    • 12 Paid Sick Days annually (sick days carry over from year to year)
    • 10 Weeks Paid Maternity/Paternity Leave
    • 3 Paid Personal Days annually
    • Pension Plan
    • Deferred Compensation Program and other pre-tax benefit programs (Medical/Daycare)
    • Flexible work schedules may be available, dependent upon position
    • Tuition Reimbursement Program and Federal Public Service Loan Forgiveness Program eligibility
    
Visit https://www2.illinois.gov/cms/benefits/Pages/default.aspx for more information about our benefits.