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Insurance Company Examiner Supervisor at WV Offices of the Insurance Commissioner

Posted on 12/12/2018

Contact Info

Name Tonya Gillespie
Address 900 Pennsylvania Avenue
Charleston, WV 25302
Phone 304-558-6279

This position coordinates the Request for Proposal (RFQ) process for examiners to conduct financial exams of insurance companies domiciled in our state.

Research any new updates to NAIC Accreditation Program Manual, Financial Conditions Examiners Handbook ("FCEH") and Accounting Practices and Procedures Manual. Review relevant statutes and regulations affecting domestic insurers.

Examinations are to be completed pursuant to the FCEH and that exam work papers are accurate, complete and timely based on NAIC Accreditation review Standards.

Send out Internal Correspondence to solicit input from various departments regarding insurers to be examined.

This position develops a method to track the exams by exam contractor, insurance company and time periods.

Example of duties:
Ensure that TeamMate files are setup for hosting on the NAIC Citrix server;
Participate in kick-off meetings with insurance companies and examiners;
Schedule internal/external meetings, status calls with the examiner, Director of Financial Conditions, Assistant Commissioner and analyst;
Monitor and track bi-weekly status reports from examiners;
Monitor and compare the total invoiced examination cost to the approved budget by ensuring that the number of hours reported relates to the amount of work completed.
This position monitors and participates in calls and work groups related to NAIC Accreditation Standards, FCEH standards and other financial solvency topics.

This position is responsible for preparing the Self Evaluation Guide for the NAIC Accreditation Review (Full and Interim).

Full accreditation reviews occur once every five years subject to interim annual reviews. This review will entail a full review of laws and regulations, the financial analysis and financial examination functions, organizational and personnel practices and organization, licensing and change of control of domestic insurers to assist in determining a state's compliance with the accreditation standards.

Interim annual reviews occur annually to maintain accredited status between full accreditation reviews. This review will entail a review of any law and regulation changes, the financial analysis and financial examination functions, and organizational and personnel practices to ensure continued compliance with the accreditation standards and to identify areas of improvement

Subscribe to updates from NAIC, review model laws and other information, participate in webinars and other educational offerings from the NAIC.

This position monitors the contract exams progress to ensure each exam phase is completed in a timely manner. Also that the exam is completed and report is adopted timely.

Example of duties:
Receive and review Draft Report from examiners for accuracy, proper format and content. Prepare for internal routing. Seek clarification, if needed, review and update final draft.
Prepare response letter to company;

This position reviews workpapers and reports containing the results and recommendations of examinations for consistency with laws and regulations, proper conclusions and consistency with the Department. Coordinates the communication between financial examiners and financial analyst on exam recommendations and oversees the subsequent follow-up.

Communicate with other states' insurance departments to improve regulation of insurance in WV.
Develop, update and maintain written policies and procedures for the examination unit. The procedures should include the multiple phases of the examination process:
1. Pre-Examination Phase
2. Examination Phase
3. Final Examination Phase
4. Post Examination Phase

Prepare final report and management letter to company;
Coordinate with Legal Department for Order adopting the report within time-lines established by WV Code.