Department of Civil Service

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Accounting Intern (ID: 105958) for Fall 2017

Agency/Facility

Department of Financial Services

One State Street
New York , NY 10004

Division/Unit: Property Markets

 

Web Site: http://www.dfs.ny.gov(New Window)

 

Proposal Information

Description:

The selected intern will obtain a practical understanding of the business of insurance, and will gain experience in auditing of financial statements and financial data mining in that context.
Under the supervision of an Insurance Examiner, or higher level Examiner, the duties and training objectives of a student intern may include, but not limited to the following:
Receive training in accessing and using the NAIC I-Site database and a copy of the NAIC Market Analysis handbook, which contains a step-by-step approach to searching for insurer deviations from the norm regarding changes in surplus, premiums written and claim activity.
Conduct reviews to identify market failures, prioritize state market regulation efforts and establish a system for proportional responses to market problems by accessing and using the NAIC I-Site database.
Target insurer complaint files to identify potential trends in wrongdoing by comparing the number of complaints to the number of policies issued or policyholders; or overall premium volume; and review financial solvency using financial data and tools available through the NAIC.
Develop programs to generate reports targeting specific areas for review and analysis, which the unit would pursue by correspondence with the carrier; meetings with the company representatives, desk audits and fines or; if necessary, onsite field investigations.
Review insurer financial statements to identify effect of the financial results upon the market results for a company.
Review excess line insurer certified financial statements and quarterly reports to determine solvency and adequate capital in accordance with the Law and Regulations.
Review and audit excess line broker and insurer tax submissions to determine if the proper taxes are being submitted and analyze any discrepancies.
Review excess in line business placements with excess line insurers to determine if the broker placing the coverage is properly licensed.
Review and audit excess line insurer report of business placements and compare to those placed by excess line broker to resolve any differences
Verify excess line broker licensing as necessary

 

Skills:

Excellent verbal & written communication

Ability to work as part of a team

Ability to think conceptually

Excellent research skills

Ability to recognize/understand issues

 

Internship Areas: Accounting/Auditing

Logistical Information

Payment? Unpaid

Number of Hours: 20 - 30

Location: New York

Number of Interns Needed: 2

Desired Candidate Profile

Preferred Standing Junior

Minimum Standing: Sophomore

Degree Concentrations: Financial Studies