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State of South Carolina · 2 days ago

Program Assistant-Financial Analysis Intern

Columbia, SC

Internship

Onsite

Intern

The State of South Carolina Department of Insurance is dedicated to protecting insurance consumers and ensuring the solvency of insurers. They are seeking a Financial Analysis Intern to review and analyze insurer financial statements, customize analysis procedures, and assist with regulatory compliance and special projects.

Government

Responsibilities

Review and analyze annual and quarterly insurer financial statements and all related supplemental regulatory filings, NAIC reports, and information from other sources relevant to the current and prospective financial solvency of insurers and/or groups

Customize the nature and extent of analysis procedures performed to ensure effectiveness and efficiency of review in accordance with the size, risk, and complexity of the insurer. Completed reviews must be professionally written and conducted with an appropriate depth and quality of review

Utilize analysis performed to conclude on the insurer’s priority level and provide supporting rationale. Prepare and update the Risk Assessment Worksheet (RAW), Insurer Profile Summary (IPS), and/or any other required workpapers on a timely basis to ensure that significant risks identified and ongoing monitoring plans are effectively communicated to management and other regulators, where applicable

Research complex issues including state law, state regulations, accounting standards, etc. Investigate and determine if company is in compliance with state laws, rules, regulations and NAIC standards and guidelines. Coordinate work performed with other regulatory functions and States to avoid duplication of efforts and/or requests

Work with supervisors to maintain the Financial Regulation and Solvency Division’s portions of the Department’s website to include updating information, forms, contacts, etc

Assist with special projects and perform other duties as assigned by supervisors. Duties may include workload overflow from other staff or areas in the Department. Assist with special projects as assigned by the Supervisor which may include assistance with creating new records in State Based Systems, checking mail, providing support for marketing plans, etc. Additional assistance may be required to support the financial examiners

Qualification

Financial analysisAccounting standardsMicrosoft OfficeRisk managementEffective communication

Required

Must be enrolled full time at an accredited university/college in a Business, Accounting, Finance, Insurance/Risk Management, or related degree program

Must have the ability to work with others and communicate effectively, both orally and in writing

Excellent computer skills are required, including Microsoft Office programs