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Certified Financial Examiner

The Certified Financial Examiner (CFE) is an experienced professional responsible for assessing the financial stability, regulatory compliance, and operational integrity of insurance companies and other financial institutions. This role involves conducting comprehensive audits and examinations, analyzing financial records, and ensuring adherence to pre-determined state and federal regulations. CFEs play a critical role in identifying risks, recommending corrective actions, and maintaining the confidence of consumers in financial institutions.

Class Code:

FIF01P

Job Grade:

SPC06

Special Job Requirements:

Typical Functions:

Conduct financial examinations and audits of insurance companies, banks, and other financial entities to assess solvency and compliance with regulations. Evaluate financial statements, reserves, risk management practices, and internal controls to identify areas of concern or non-compliance. Examine actuarial assumptions, reinsurance agreements, and claims reserves to ensure adequacy and alignment with regulatory requirements. Prepare detailed examination reports summarizing findings, recommendations, and required corrective measures. Collaborate with insurance company leadership and regulatory agencies to address identified issues and ensure corrective actions are implemented. Stay updated on changes to financial regulations, accounting standards, and industry best practices. Serve as a subject matter expert in financial examinations, providing guidance and mentorship to junior examiners. Represent the regulatory agency in interagency meetings, conferences, and industry events.

Knowledge, Abilities, and Skills:

Advanced analytical and problem-solving skills, with a focus on financial data interpretation. Thorough knowledge of insurance laws, financial regulations, and auditing principles. Excellent communication and writing skills for preparing detailed examination reports and interacting with stakeholders. Strong leadership and team collaboration abilities. Proficiency in relevant financial analysis and audit software. High attention to detail and strong ethical standards.

Minimum Qualifications:

A bachelor’s degree in accounting, finance, business administration, economics, or a related field. Minimum of 12 years of experience in financial examinations, auditing, accounting, or regulatory compliance. Demonstrated expertise in evaluating complex financial and operational data within the financial services industry. A strong understanding of regulatory frameworks and financial reporting standards. Achieving the Certified Financial Examiner (CFE) designation from the Society of Financial Examiners (SOFE) is mandatory for this role. Satisfaction of the minimum qualifications, including years of experience and service, does not entitle employees to automatic progression within the job series. Promotion to the next classification level is at the discretion of the department and the Office of Personnel Management, taking into consideration the employee’s demonstrated skills, competencies, performance, workload responsibilities, and organizational needs.

Required Certificates:

N/A 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.

Exempt:

E
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