INSURANCE PERFORMANCE EXAMINER II, Opt. 2

About the Position

The Illinois Department of Insurance is seeking to hire an Insurance Performance Examiner II in the Market Conduct Division. This position examines and reviews insurance company rates and rating procedures used by life, accident and health insurance companies to evaluate a company’s extent of compliance with the Illinois Insurance Code and all related insurance laws rules and regulations; travels occasionally on an as needed basis in-state and out-of-state to assigned examination sites and remains at or travels back to these sites for the length of time necessary to accomplish the assigned tasks; performs the more difficult aspects of claims and rate examinations by tracing and interpreting the statistics of an insurance company; advises and provides information to an insurance company’s representatives regarding the examination’s findings; prepares the final analysis and report of completed examinations for superiors. We invite all qualified candidates to apply.

Job Responsibilities

1. Travels occasionally on an as needed basis to assigned examination sites conducting on-site reviews of insurance company rates, rating schedules, programs and procedures used by life, accident, and health insurance companies to determine a company’s extent of compliance with the Illinois Insurance Code and all related insurance laws, rules, and regulations:
    • remains at or travels back to examination sites occasionally on an as needed basis for the length of time necessary to accomplish the assigned tasks and to meet the operational needs of the agency,
    • examines rates given specific risks, and traces these risks into the experience and statistics of an insurance company,
    • performs complex and sophisticated interpretations of the statistics used by an insurance company to support the declared rates,
    • lifts, carries, and transports a personal computer and materials weighing up to 50 pounds to and from examination sites.

2. Assists senior staff in directing and reviewing the work activities of lower-level examiners involved in conducting insurance company examinations and provides advice, guidance and training when needed.

3. Independently plans and devises an assigned examination’s work procedures, methods, and techniques that will be utilized during the examination:
     • attends and participates in all meetings related to each assigned examination and develops the final analysis and reporting of the completed examination’s findings and submits to superiors.

4. Performs detailed reviews of claim and/or complaint files, including various supporting records and documents, and makes recommendations to supervisor concerning policies, programs, endorsements, and riders, which are proposed for use and/or applied by insurance companies when processing a client’s claim.

5. Performs other duties as required or assigned which are reasonably within the scope of the duties enumerated above.

Minimum Qualification

1. Requires knowledge, skill, and mental development equivalent to the completion of four (4) years of college with major coursework in insurance, finance, statistics, accounting, economics, business administration or a related field.

2. Requires two (2) years of professional underwriting and/or claim experience.

Preferred Qualifications

1. Prefers one (1) year of regulatory experience.
2. Prefers experience with underwriting and/or claims practices and procedures and related insurance business practices.
3. Prefers extensive knowledge of the Illinois Insurance Code and all federal and state laws, rules and regulations that govern the insurance industry.
4. Prefers proven ability to create complete databases including tables, queries, forms, and reports using computer applications such as Word, Excel, Outlook, PowerPoint, and Access.
5. Prefers proven ability to perform their work duties in a professional, efficient, ethical, and confidential manner in order to maintain confidentiality of the company’s information obtained during an examination.
6. Prefers proven ability to establish effective working relationships and cooperate with others in a manner that recognizes the high importance of teamwork in completing an examination in an efficient and professional manner.
7. Prefers proven ability to perform assignments accurately and to complete them within the predetermined time frames.
8. Prefers proven ability to exercise judgement and discretion in developing, implementing, and interpreting department policies and procedures.
9. Prefers proven ability to speak and write effectively and to develop skills in communicating information through examination working papers, memoranda, and reports.

Employment Conditions

1. Requires ability to pass a background check. 
2. Requires ability to transport and accept responsibility for state equipment and supplies that are needed to perform duties while at examination sites. 
3. Requires ability to travel occasionally on an as needed basis away from the primary office location to perform assigned tasks as required by the operational needs of the agency. 
4. Requires possession of an appropriate valid driver’s license. 
5. Requires ability to lift and carry materials weighing up to 50 pounds, including transporting to and from work sites.

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
•    12 Paid Sick Days annually (Sick days carry over from year to year)
•    10-25 Days of Paid Vacation time annually - (10 days in year one of employment)
•    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.