Bargaining Unit: Use for all Job Titles
Class Code: 073037

Education and Experience: Graduation from an accredited college or university with a bachelor’s degree and 30 semester credit hours of accounting.

Substitution of Experience for Education: Qualifying experience in financial or insurance-related field may substitute for the required education to a maximum of four years (e.g., experience equivalent to one year of full-time work in one or a combination of the above listed fields may substitute for one year of the required education).

Substitution of Graduate Education for Experience: Graduate course work credit received from an accredited college or university in finance, business, insurance and related fields may substitute for the required experience on a year-for-year basis to a maximum of 1 year.


Current designation as Certified Public Accountant recognized by Tennessee Accountancy Board or equivalent regulatory authority, if outside Tennessee OR current designation as Certified Financial Examiner recognized by Society of Financial Examiners (SOFE)

Other Requirements: Examination Method: Education and experience, 100%, for Preferred Service positions.
Job Overview: Summary: Under close supervision, is responsible for captive insurance analysis and examination work of routine difficulty; and performs related work as required.

Distinguishing Features: This is the entry level class in the Captive Insurance Specialist sub-series. An employee in this class monitors, analyzes, and examines the financial status and potential of assigned captive insurance companies. This class differs from Captive Insurance Specialist 2* in that an incumbent of the latter is responsible for independently performing regulatory work of average difficulty.

*An applicant appointed to this flexibly staffed class will be reclassified to the next higher class in the series after successful completion of a mandatory two-year training period; inadequate or marginal performance during the training period will result in automatic demotion or termination.
Work Activities: Monitor Processes, Materials, or Surroundings
1.Monitors financial position and health of assigned companies through activities including, but not limited to reviews of monthly bank statements and corrective action plans for assigned companies.

Interpreting the Meaning of Information for Others
1.Provides information and analysis on captive insurance companies to leadership; in particular, identifies any situations that may be cause for concern, require additional action, or impact the Section’s practices.
2.Interprets regulations, policies, and procedures for external parties.

Organizing, Planning, and Prioritizing Work
1.Prioritizes workload to accomplish tasks within established statutory, NAIC, or internal standards that support position as top captive domicile state.

Evaluating Information to Determine Compliance with Standards
1.Evaluates, analyzes, and determines each assigned captive insurance company’s compliance with all State statutes and rules and applicable NAIC guidelines.

Analyzing Data or Information
1.Analyzes captive balance sheets, income statements, and cash flow for compliance.
2.Reviews past recommendations, present conditions, and viability of future forecasts for historical accuracy or relevance, with particular emphasis on strengths and weaknesses.
3.Prepares a narrative analysis, such as an insurer profile summary, to identify prospective risks within captive insurance companies.
4.Analyzes whether assets and liabilities properly reflect the type of risk being insured.

Making Decisions and Solving Problems
1.Recommends approval of items including business plan changes, dividend requests, coverage changes, related party transactions, and loan requests.
2.Communicates with service providers, processes regular business requests, and refers complex or difficult matters through appropriate supervisory channels.
3.Reports anomalies through proper supervisory channels in a timely manner.

Performing Administrative Activities
1.Prepares required reports, including, but not limited to annual statement reviews, premium tax calculations, actuarial opinion summaries, audited financial reviews, and as-needed business plan changes, dividend requests, loan requests, and various periodic reports required in the surveillance of assigned captives.
2.Performs administrative duties, including entering time and leave, calendar maintenance and coordination, travel and training authorizations, and expense reporting.

Processing Information
1.Tracks company information from initial application through annual insurer profile summary.
2.Calculates ratios or other metrics to support issues such as liquidity, solvency, or capital adequacy.
3.Compares annual statements to expected metrics.
4.Reviews premium tax audits to ensure that they are being properly prepared.
5.Receives, reviews, and organizes operational and oversight documents related to the operations of each captive, which may include board minutes, sample policies and agreements, business plans, annual audits, feasibility studies, or pro forma financials.

Interacting with Computers
1.Uses office productivity software in the course of daily duties, including, but not limited to word processing, spreadsheet, and presentation software, web-based email programs, and insurance-specific programs.

Getting Information
1.Under close supervision, responds to phone calls, emails, form inquiries, and requests from Captive managers, regulators, internal and external customers related to the regulation of captive insurance companies.
2.Gathers information related to regulation of risk retention groups. Receives financial statements and other documents relevant to analysis and/or examinations.

Coaching and Developing Others
1.Actively engages in the promotion of a collegial work environment.

Documenting/Recording Information
1.Stores and sources original and backup information in appropriate locations.
2.Documents and records all insurance-related information regarding captive insurance companies within tracking software or other designated method.

Judging the Qualities of Things, Services, or People
1.Evaluates and judges quality of service providers and information.

Thinking Creatively
1.Collaborates with team members to find solutions to complex and emerging issues.

Establishing and Maintaining Interpersonal Relationships
1.Develops and maintains cooperative working relationships internally and externally.
2.Promotes transparency and close working relationships through management of expectations and proactively communicating with service providers, captive owners, other state regulatory authorities, and internal personnel.
3.Attends networking events to promote Captive Insurance mission and develop new working relationships.
4.Collaborates with team members to find solutions to complex and emerging issues.

Updating and Using Relevant Knowledge
1.Pursues continuing education opportunities related to program area, including, but not limited to opportunities through SOFE, ICCIE, Tennessee State Board of Accountancy, and NAIC accreditation levels.
2.Participates in continuing research through webinars, reading materials, or research papers to keep relevant knowledge up to date.
3.Maintains all necessary continuing education.

Competencies (KSA’s): Competencies:

  1. Integrity and trust
  2. Written communications
  3. Intellectual horsepower
  4. Technical learning
  5. Business acumen
  6. Interpersonal savvy
  7. Self-knowledge
  8. Customer focus
  9. Priority setting
  10. Learning on the fly


  1. Intermediate knowledge of accounting and economics
  2. Basic knowledge of Microsoft Office products
  3. Basic knowledge of administrative and organizational procedures
  4. Basic knowledge of principles of customer service
  5. Basic knowledge of law and government


  1. Accounting
  2. Utilizing relevant computer software
  3. Writing
  4. Reading comprehension
  5. Critical thinking
  6. Active listening
  7. Speaking
  8. Intermediate proofreading
  9. Time management
  10. Active learning
  11. Social perceptiveness
  12. Service orientation
  13. Basic learning strategies


  1. Written comprehension
  2. Written expression
  3. Oral comprehension
  4. Oral expression
  5. Selective attention
  6. Mathematical reasoning
  7. Number facility
  8. Deductive reasoning
  9. Inductive reasoning

Tools and Equipment Used:

  1. Desktop or Laptop
  2. Tablet
  3. Calculator
  4. Printer
  5. Scanner
  6. Copier
  7. Fax Machine


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