Louisiana Department of Insurance 1702 North 3rd Street, Baton Rouge, LA, USA
Jul 13, 2022Full Time
65% Performs desk audits of annual and quarterly financial statements of all licensed companies for compliance with the law in regard to limitation of investments, valuation of securities, and admissibility of assets and adequacy of reserves. Reviews CPA audit reports, holding company files, and other pertinent financial data. Prepares documentation for review. Makes recommendations resulting from the analysis of all data presented or collected as to the company’s financial status in regards to solvency or compliance with applicable status. Attends meetings with other departmental personnel regarding findings made during examination/analysis process. Corresponds with assigned companies regarding the results of the examination/analyst performed and attempts to resolve any concerns discovered during the audit. Discusses the adequacy of company’s response with supervisors and makes recommendations as to further actions to be taken by LDI. 20% Conducts a preliminary review of annual financial statements of insurance companies to determine that companies meet capital and surplus requirements and are in compliance with all applicable sections of the Louisiana Insurance Code. Performs documentation and financial review of insurance companies applying for a certificate of authority. Reviews proposed actions by licensed insurance companies, which require approval by LDI before implementation. May serve as confidential administrative supervisor to troubled insurance companies. 10% Collects and reviews information from the various divisions within the department as to the scheduling and conduct of upcoming company financial examinations/analysis. Works with the examination/analysis staff in the pre-planning stages of an examination/analysis, developing a strategy for the examination/analysis, conducting a review of currently available information, and pinpointing possible problem areas that are of special concern to the department. Reviews newly enacted legislation affecting the Office of Financial Solvency and the conduct of Financial Examination/Analysis. 5% Keeps abreast of current insurance industry standards and developments through extensive readings of professional journals and periodicals, attending professional development seminars offered within and outside of the department, and working towards professional certification. Performs special projects and other duties as assigned.