Financial Examiner

Financial Examiner 2

Base pay range (monthly): $5,812 – $7,817.

At the Washington State Office of the Insurance Commissioner (OIC), our mission is to protect the public through fair, transparent, and consistent oversight of the insurance industry. The Financial Examiner 2 role – part of the Company Supervision team based in Seattle Downtown – supports our nationally accredited examination program. Examiners conduct risk‑focused financial condition examinations of insurance companies and other regulated entities, using NAIC standards, to ensure financial soundness, compliance, and consumer protection.

• Conduct risk‑focused financial condition examinations of insurance companies and other regulated entities in accordance with NAIC accreditation standards, the NAIC Financial Condition Examiners Handbook, and OIC policies.
• Collaborate with the examiner‑in‑charge and examination supervisors to develop and execute examination work plans for assigned areas.
• Analyze insurer financial statements, operations, corporate governance, and enterprise risk management frameworks to assess current and prospective solvency.
• Identify, assess, and document key solvency risks and evaluate the effectiveness of related internal controls and risk‑mitigation strategies.
• Perform tests of controls and develop independent substantive testing procedures based on residual risk assessments.
• Review insurer records, practices, contracts, and agreements to determine compliance with Washington State laws, regulations, and NAIC standards.
• Evaluate internal and external audit functions and leverage audit work where appropriate to gain examination efficiencies.
• Analyze financial trends, key solvency ratios, and scoring metrics (including IRIS ratios and FAST scores) to identify unusual trends or emerging risks.
• Interview or confer with insurer personnel to obtain information and clarify examination findings.
• Prepare clear, accurate, and complete examination work papers and documentation in accordance with OIC and NAIC standards.
• Communicate examination findings, risks, and conclusions to the examiner‑in‑charge, supervisors, and OIC financial analysts through reports and memoranda.
• Perform special analyses of insurers seeking admission to do business in Washington State.
• Conduct limited examinations of nonprofit organizations issuing Charitable Gift Annuities and complete other related assignments as directed.

Required Qualifications

• Six (6) years of full‑time relevant professional accounting experience to include experience auditing, analyzing, or preparing financial statements: balance sheet, income statement, cash flow statement, and notes thereto as an accountant, auditor, or examiner with a public accounting firm or as an accountant, internal auditor or external auditor or examiner of insurance companies, banks, savings and loan associations, municipalities, etc., state or federal or private entities.
• Successful completion of 20 quarter or 12 semester hours in accounting, finance, economics, or insurance. Professional experience may not substitute for the credit hours.
• Intermediate level proficiency in Microsoft Outlook, Word, and Excel.

Preferred/Desired Qualifications

• Experience with, or as a contractor for, a state insurance department working as an examiner, auditor, or financial analyst of insurance companies.
• Designation as a Certified Financial Examiner (CFE) in an insurance discipline, as granted by the Society of Financial Examiners (SOFE).
• Designation as an Accredited Financial Examiner (AFE) in an insurance discipline, as granted by the Society of Financial Examiners (SOFE).
• An active, Certified Public Accountant (CPA) license granted by the Washington State Board of Accountancy, or another state with reciprocity with Washington State.
• Other insurance or information systems related designations.

• Comprehensive benefits package:
  Health, dental, vision, retirement, paid leave (vacation, sick, etc.) and more!
• Supportive work environment:
  We value diversity, professional growth, and collaborative atmosphere.
• Wellness programs:
  Invest in your well‑being with on‑site resources and initiatives.
• Wor…