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P&C Financial Analysis Unit Supervisor (PSA, Opt. 2)

We continually strive for a workforce that reflects the growing diversity within the State of Illinois.  A variety of employee backgrounds, perspectives, ideas and experiences are crucial to our ability to most effectively serve the public.  Bilingual skills welcome

Reasonable Accommodation Statement

Persons with disabilities are provided reasonable accommodations throughout the hiring process and during performance of all job duties.  Please email the Central Management Services Disability Resource Center at CMS.DisabilityResCen@illinois.gov or call (217) 524 - 7514 for further information and to request an accommodation.

Sponsorship for Employment

The State of Illinois does not provide sponsorship for employment visa status (e.g. H-1B visa status).  To be considered for permanent employment with the State of Illinois, applicants must be currently authorized to work in the United States on a full-time basis.

Disclosure of Salary Information

In compliance with the Illinois Equal Pay Act, 820 ILCS 112/1 et seq., the State does not seek, request, or require a job applicant’s wage or salary history.  Employment decisions are not made based on an applicant’s wage or salary history.  To that end, please do not include wage or salary information in your resume or other profile or application materials.

Date:  Jun 13, 2022
Location: 

Springfield, IL, US, 62767-1000

Job Requisition ID:  16809

Agency:  Department of Insurance   
Closing Date/Time:   06/28/2022
Salary:  $6,692 - $10,204 Anticipated Salary Range 
Job Type:  Salaried Full Time
County:  Sangamon
Number of Vacancies:  1
Plan/BU:  RC062

 

Collective Bargaining Agreement language applies to this requisition:
We are currently transitioning away from a paper application process to an electronic application process. This position has not been transitioned. Please follow the directions below when applying to this position.

 

DO NOT APPLY ONLINE

**DO NOT CLICK THE APPLY BUTTON**

 

CMS100/B Employment Application and all applicable documentation should be submitted to the Agency contact listed below.

 

Posting Identification #DOI 33501

 

Position Overview

The Illinois Department of Insurance is seeking a P&C Financial Analysis Unit Supervisor (Public Service Administrator, opt. 2), to perform specialized professional and supervisory work involving the analysis and evaluation of the financial solvency and stability of domestic, foreign and alien property and casualty insurance companies, workers compensation pools, and farm mutual insurance companies.  This position will supervise staff in the financial analysis of financial statements filed with the Financial Solvency/Financial Regulation Division.  Reviews, analyzes and recommends approval or denial of mergers, acquisitions, reinsurance treaties and complex financial transactions.  Travels to insurance companies for examinations and meetings.  We invite all qualified applicants to apply.

  

Job Responsibilities

  • Supervises and directs a staff of professionals engaged in the financial analysis of annual statements filed with the Division by property and casualty insurance entities in order to determine the financial solvency and stability of such entities; allocates work assignments based upon expertise and workload of staff; reviews assignment progress and final work product of subordinates; advises staff regarding complex analytical procedures and financial findings which are outside of the prescribed ranges.
  • Reviews, analyzes and makes recommendations for further review or enhanced regulation of insurance entities deemed in need of financial attention; accepts filings which satisfy financial tests performed by staff; recommends submission of quarterly financial statement for entities which require further monitoring by the Section; reviews, analyzes and recommends approval or denial of mergers, acquisitions, reinsurance treaties and complex financial transactions which affect the financial structure of entities involved.

  • Reviews Property and Casualty Financial Analysis Unit needs, sets priorities and establishes objectives to effectively meet Unit goals; serves as working supervisor; assigns and reviews work; provides guidance and training to assigned staff; counsels staff regarding work performance; reassigns staff to meet day-to-day operating needs; establishes annual goals and objectives; approves time off; prepares and signs performance evaluations.

  • Interacts with the Financial Examination Section and the Regulatory Units regarding financial activities; consults with representatives of regulated entities in response to inquiries and in the resolution of discrepancies; provides interpretations of various laws, department rules and regulations and procedures; gives testimony and attends formal and informal hearings held to consider regulatory problems and proposed solution.

Minimum Qualifications

  • Requires knowledge, skill and mental development equivalent to completion of four years college with course work in accounting, management and finance. 
  • Requires prior experience equivalent to three years of progressively responsible administrative experience in financial analysis, regulation, or accounting areas of the insurance industry.

Knowledge, Skills, and Abilities

  • Requires extensive knowledge of public and business administration, principles and practices; agency programs and service objectives, activities and operational systems; staff utilization and employee motivation; agency policies and procedures.
  • Requires extensive knowledge of the Illinois Insurance Code, rules and regulations as related to the financial analysis and examination of insurance entities.
  • Requires extensive knowledge of reinsurance treaties, acquisitions and mergers and the impact such transactions have on the financial structure of insurance companies involved.
  • Requires ability to develop and manage a supportive agency program; analyze administrative problems and adopt an effective course of action; develop, install and evaluate new and revised methods, procedures and performance standards; exercise judgment and discretion in developing, implementing and interpreting departmental policies and procedures; critically analyze financial reports and documents and identify areas of financial strength and weakness; develop and maintain cooperative working relationships; communicate clearly and effectively both orally and in writing.

Specialized Skills

  • Of the three years of administrative experience in financial analysis, regulation, or accounting areas of the insurance industry, requires two years of experience reviewing analysis of lower-level staff involved in the financial analysis and regulation of regulated entities.

Conditions of Employment

  • Requires the ability to pass a background check.
  • Requires the ability to travel.

Work Hours:  8:00am - 4:30pm; Monday - Friday   
Work Location: 320 W Washington St. Springfield, IL 62767
Agency Contact: DOI.HR@Illinois.gov

Job Family:  Fiscal/ Finance/ Business

 

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, 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. 

 

CANDIDATES MUST SUBMIT A SEPARATE BID FORM (as applicable) AND CMS-100/B FOR EACH POSTED VACANCY APPLIED FOR. 

 

APPLICATION INSTRUCTIONS

DO NOT APPLY ONLINE.

Please submit application via email to: DOI.HR@Illinois.gov 

Current State Employees:

  • Seeking a Promotion – Submit an Official Position Vacancy Bid Form and CMS-100B Employment Application (version dated 9/2020 or after) to the Agency Contact address listed above.
    • Older versions of the CMS-100B will not be graded or returned to applicants. 
    • Failure to complete and submit the new CMS-100B (version dated 9/2020 or after) will result in your application being rejected.

 

  • Seeking a Transfer – Submit an Official Position Vacancy Bid FormTransfer Request, and CMS-100 Employment Application (version dated 9/2020 or after) to the Agency Contact address listed above.
    • A separate Bid form and Application is required for each Posting Identification#/Job Requisition ID # or your bid will be rejected.  
    • Failure to complete and submit the new CMS-100 version (dated 9/2020 or after) will result in your application being rejected.

 

  • Seeking a Reduction - Submit an Official Position Vacancy Bid Form and CMS-100 Employment Application (version dated 9/2020 or after) to the Agency Contact address listed above.
    • A separate Bid form and Application is required for each Posting Identification#/Job Requisition ID # or your bid will be rejected.  
    • Failure to complete and submit the new CMS-100 (version dated 9/2020 or after) will result in your application being rejected.

 

 Former State Employees:

  • Submit an Official Position Vacancy Bid Form and CMS-100 Employment Application (version dated 9/2020 or after) to the Agency Contact address listed above.
    • A separate Bid form and Application is required for each Posting Identification#/Job Requisition ID # or your bid will be rejected. 
    • Failure to complete and submit the new CMS-100 (version dated 9/2020 or after) will result in your application being rejected.

 

Non-State Employees:

  • Submit a CMS-100 Employment Application (version dated 9/2020 or after) and official college transcripts (where applicable) to the Agency Contact address listed above.
    • Documentation is required for each Posting/Bid ID or your application(s) will be rejected.  
    • Failure to complete and submit the new CMS-100 version (dated 9/2020 or after) will result in your application being rejected.