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ACOM INSURANCE LICENSING TECHNICIAN
The Insurance Licensing Technician is responsible for receiving and reviewing detailed financial information filed by insurance companies seeking admission to conduct business in the state of Arkansas. This position is governed by state and federal laws and agency/institution policy.
Class Code:
X180C
Job Grade:
GS03
Special Job Requirements:
None
Typical Functions:
Supervises and evaluates work of administrative support staff by monitoring the filing of annual/quarterly financial requirements for insurance companies and as required by law. Analyzes and evaluates insurance licensing applications, determines capital and surplus requirements, and reinstates Arkansas insurance certification. Reviews and analyzes insurance company plan of operations and financial statements. Conducts and researches special projects related to foreign insurance companies identified with regulation issues. Communicates with officers of insurance entities concerning company operations and questions/raised during the examination process. Creates and maintains the Finance Division web page to ensure proper dissemination of public financial information, forms, and instructions applicable to entities regulated by this division. Performs market analysis of insurance entities operating in Arkansas, according to the procedures outlined in the National Association of Insurance Commissioners Market Analysis Handbook. Performs other duties as assigned.
Knowledge, Abilities, and Skills:
Knowledge of supervisory practices and procedures. Knowledge of standards and procedures outlined in the Uniform Certificate of Authority Application Manual. Knowledge of the formation and licensing requirements for insurance entities. Knowledge of National Associations of Insurance Commissioners databases. Knowledge of Arkansas insurance laws and regulations. Ability to interpret and apply rules, laws, and policies to specific situations. Ability to indentify problems and offer recommendations for solutions. Ability to communicate orally and in writing. Ability to use standard office equipment and computer software programs to produce reports and correspondence.
Minimum Qualifications:
The formal education equivalent of a bachelor’s degree in accounting, finance, business administration, or a related field; plus one year of experience in financial management, insurance department, market analysis, or related area. Must have completed necessary course work offered by the Society of Financial Examiners and be a Certified Financial Examiner. Additional requirements determined by the agency for recruiting purposes require review and approval by the Office of Personnel Management. OTHER JOB RELATED EDUCATION AND/OR EXPERIENCE MAY BE SUBSTITUTED FOR ALL OR PART OF THESE BASIC REQUIREMENTS, EXCEPT FOR CERTIFICATION OR LICENSURE REQUIREMENTS, UPON APPROVAL OF THE QUALIFICATIONS REVIEW COMMITTEE.
Required Certificates:
None
Exempt:
N
