Financial Institution Examiner 9-P11
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Financial Institution Examiner 9-P11
Salary
$22.63 - $38.90 Hourly
Location
Lansing, MI
Job Type
Permanent Full Time
Remote Employment
Flexible/Hybrid
Job Number
6501-23-DIFS-130 FIE
Department
Department of Insurance and Financial Services
Opening Date
09/13/2023
Closing Date
10/4/2023 4:00 PM Eastern
Bargaining Unit
N/A
Description
Benefits
Questions
Job Description
The Department of Insurance and Financial Services (DIFS) is seeking an individual to work in public service as a financial institution examiner in the Office of Insurance Financial and Market Regulation. This is an opportunity to build a lifelong career doing work that truly matters - helping to protect consumers and maintain public confidence in Michigan's insurance industry.
The right candidate will be responsible for assessing the financial condition of Michigan insurance companies to ensure they are safe and sound and able to meet their financial obligations to pay the claims of their policyholders. You will evaluate the financial risk profile of the insurance companies and their ability to mitigate or properly manage that risk. The insurance industry is a dynamic industry with new products and changing economic conditions. You will conduct in-depth quarterly reviews of financial statements and other detailed filings to determine compliance with statute regulations.
Ideal candidates will have:
The drive to serve the people of the State of Michigan and make a difference in an important role that supports Michigan individuals and businesses.
The ability to thrive in a dynamic, collaborative, and high-tech environment while demonstrating sound professional judgement and decision-making.
Strong financial analytical skills and a curious and analytical mind capable of analyzing complex statutes, financial filings, and converting this information into an easy to understand, consumer-friendly format.
The ability to understand complex transactions, laws, rules, and opinions as well as the ability to assess risks related to underwriting, reinsurance, credit, liquidity, operations and business strategies.
The ability to analyze and evaluate asset portfolios' quality, duration, concentration, performance and matching in relation to liabilities.
The ability to communicate clearly, concisely, and effectively both orally and in writing.
The desire to work closely with colleagues and management to solve problems.
The ability to work well both independently and within a team.
Other job features:
Participation in webinars, conference calls, and employee development training, as well as in-person training.
DIFS is looking for a team member who has an interest in helping others, who wants to learn and grow as a professional, and who wants to enjoy all the exciting things life in Michigan has to offer. The State of Michigan is ranked as a top 20 employer for new graduatesin Forbes' "America's Best Employers for New Graduates. (https://www.forbes.com/lists/best-employers-for-new-grads/?sh=5a6eff03203a) "
This position provides competitive pay, retirement, health, vision, and dental benefits.
Work Location:This is an in-person position based in Lansing, Michigan, with the possibility of a hybrid work schedule where you would work from home up to three days per week, following a training period, if approved.
Please submit a cover letter, resume, copy of official college transcripts, and, in a separate document from your cover letter, please answer the following questions:
An "official college transcript" must contain the college/university name and address, the degree conferred and date granted, coursework completed, and the Registrar's signature and/or seal. A scanned or electronic copy is acceptable, as long as it contains the elements listed above.The college/university does not have to send the transcripts directly to DIFS.
Failure to attach the requested documents may result in your application being screened out.
DIFS is a Silver-Level Veteran-Friendly Employer, committed to recruiting, training, and retaining veterans and their spouses.
For more information about this posting, clickhere (https://MCSC.state.mi.us/AgencyPDFs/DIFS 130 PD 2023.pdf)
Required Education and Experience
Education
Possession of a bachelor's degree with a business major including completion of a business core curriculum consisting of one course each in finance, law, and management, one course in either marketing or economics, and 6 semester (9 term) credits in accounting. Prefer bachelor's degree or higher in accounting.
Experience
Financial Institution Examiner 9
No specific type or amount is required.
Financial Institution Examiner 10
One year of professional experience evaluating and determining safe and sound operating practices through examinations, visitations or investigations of state chartered depository or state licensed non-depository financial institutions or financial examinations of state licensed insurance companies in accordance with state and federal statutes equivalent to a Financial Institution Examiner 9.
Financial Institution Examiner 11
Two years of professional experience evaluating and determining safe and sound operating practices through examinations, visitations or investigations of state chartered depository or state licensed non-depository financial institutions or financial examinations of state licensed insurance companies in accordance with state and federal statutes equivalent to a Financial Institution Examiner, including one year equivalent to a Financial Institution Examiner 10.
FIE level is determined based upon individuals experience level with insurance, statutory accounting or other regulatory positions.
Alternate Education and Experience
Financial Institution Examiner 9
Possession of a bachelor's degree in any major
AND
Two years of an equivalent type of professional financial institution or insurance industry experience. Relevant industry experience varies by position and may include: financial institution commercial credit analysis/underwriting, commercial lending, loan review, audit, compliance, and risk management; or insurance accounting, internal/external audit, actuarial and risk management; as well as oversight of such functions.
Financial Institution Examiner 10
Possession of a bachelor's degree in any major
AND
One year of professional experience as a financial institution examiner or specialist for a federal financial regulatory agency, FDIC, a Federal Reserve Bank, NCUA, Comptroller of the Currency, other federal or out-of-state financial or insurance regulatory agencies;
OR
Three years of an equivalent type of professional financial institution industry experience. Relevant industry experience varies by position and may include: financial institution commercial credit analysis/underwriting, commercial lending, loan review, audit, compliance, and risk management; or insurance accounting, internal/external audit, actuarial and risk management; as well as oversight of such functions.
Financial Institution Examiner P11
Possession of a bachelor's degree in any major
AND
Two years of experience as a professional financial institution examiner or specialist for a federal financial regulatory agency, FDIC, a Federal Reserve Bank, NCUA, Comptroller of the Currency, other federal or out-of-state financial or insurance regulatory agencies;
OR
Four years of an equivalent type of professional financial institution industry experience. Relevant industry experience varies by position and may include: financial institution commercial credit analysis/underwritin
