CAPTIVE INSURANCE SPECIALIST 1** - 09232025-71458

Job Information

LOCATION OF (1) POSITION(S) TO BE FILLED: DEPARTMENT OF COMMERCE & INSURANCE, INSURANCE DIVISION, DAVIDSON COUNTY

Qualifications

Education and Experience: Graduation from an accredited college or university with a bachelor's degree and 30 semester credit hours of accounting.

Substitution of Experience for Education: Qualifying experience in financial or insurance-related field may substitute for the required education to a maximum of four years (e.g., experience equivalent to one year of full-time work in one or a combination of the above listed fields may substitute for one year of the required education).

Substitution of Graduate Education for Experience: Graduate course work credit received from an accredited college or university in finance, business, insurance and related fields may substitute for the required experience on a year-for-year basis to a maximum of 1 year.

OR

Current designation as Certified Public Accountant recognized by Tennessee Accountancy Board or equivalent regulatory authority, if outside Tennessee OR current designation as Certified Financial Examiner recognized by Society of Financial Examiners (SOFE).

Examination Method: Education and Experience, 100%, for Preferred Service positions.

Overview

Under close supervision, is responsible for captive insurance analysis and examination work of routine difficulty; and performs related work as required. This is the entry level class in the Captive Insurance Specialist sub-series. An employee in this class monitors, analyzes, and examines the financial status and potential of assigned captive insurance companies. This class differs from Captive Insurance Specialist 2* in that an incumbent of the latter is responsible for independently performing regulatory work of average difficulty.

*An applicant appointed to this flexibly staffed class will be reclassified to the next higher class in the series after successful completion of a mandatory two-year training period; inadequate or marginal performance during the training period will result in automatic demotion or termination.

Responsibilities

1.Assist in monitoring financial position and regulatory compliance of assigned companies through activities including, but not limited to reviews of monthly bank statements, annual reports, audited financial statements, premium tax filings, and corrective action plans for assigned companies.
2. Assist in providing information and analysis on captive insurance companies to leadership; in particular, identifies any situations that may be cause for concern, require additional action, or impact the Section's practices.
3. Prepares required reports, including, but not limited to annual statement reviews, premium tax
calculations, actuarial opinion summaries, audited financial reviews, and as-needed business plan changes, dividend requests, loan requests, and various periodic reports required in the surveillance of assigned captives.
4. Assist in the continued growth of Tennessee as a leading captive domicile by continuing to develop and maintain robust procedural methods in the formation and regulation of captive insurance companies.
5. Perform timely and thorough examinations of Tennessee captive insurance companies under the direction and supervision of the Captive Insurance Specialist 3 and Assistant Director.
6. Develop a basic knowledge of captive insurance, accounting, financial analysis, financial examinations, and regulatory compliance.

Competencies (KSA's)

Competencies:
1. Customer Focus
2. Ensures Accountability
3. Communicates Effectively
4. Nimble Learning
5. Financial Acumen

Knowledges:
1. Economics and Accounting
2. Customer and Personal Service
3. Law and Government
4. Clerical

Skills:
1. Active Learning and Listening
2. Mathematics
3. Critical Thinking
4. Time Management
5. Judgment and Decision Making

Abilities:
1. Written Comprehension
2. Deductive Reasoning
3. Inductive Reasoning
4. Mathematical Reasoning

Tools & Equipment

1. Basic Office Equipment