It is the policy of the FSM Government that qualified FSM citizens is given first priority for employment consideration; with other Micronesian and U.S. citizens utilized in positions for which no qualified FSM citizens are available.

POSITION AND SALARY:
Insurance Examiner
PL-42/1
$1,177.58 B/W + $40.00 COLA = $1,217.58 BW

This is the minimum rate at step one of the grade.  Higher rates may be authorized in cases of hard-to-fill positions where it is appropriate to the qualification of the appointee.

LOCATION:
Office of Insurance Board
FSM National Government
Pohnpei, FSM 96941

DUTIES (ILLUSTRATION ONLY):

Review and evaluate applications for the formation, licensing, and registration of captive insurance companies, captive managers, foreign insurers, agents, brokers, and other insurance intermediaries, and prepare recommendations for the Insurance Commissioner and Board, Review and evaluate proposed business plan changes, amendments, and notifications submitted by regulated entities to ensure compliance with applicable laws, regulations, licensing requirements, and approves operational plans; Review annual filings, including audited financial statements, actuarial reports, statistical data, and other reports to evaluate compliance and financial condition of regulated entities; Maintain and update company profiles, licensing and regulatory records system to ensure accurate, complete, and timely regulatory information; Analyze insurers’ solvency, capital adequacy and financial performance to determine compliance with applicable laws and regulations; Participate in regulatory examinations of insurance entities and serve as Examiner-in-Charge when assigned, including conducting special examinations as directed by the insurance Commissioner; Investigate complaints and allegations involving insurers, captive insurers, managers, agents, brokers, and other regulated entities, and prepare reports and recommendations for appropriate regulatory action; Assist in the review and development of insurance laws, regulations, procedures, and regulatory reports; Provide recommendations to the Insurance Commissioner and Board on regulatory, financial, operational, and policy matters affecting the insurance industry; Perform other duties as assigned.

Qualification Requirements:
Graduation from an accredited college or university with a bachelor’s degree in business administration, Commerce, or Economics with emphasis in insurance, accounting, finance, or related fields plus five (5) years of work experience in insurance system. CPA other related credentials preferred.

Secure Application Forms From and Return to FSM National Government Personnel Office
or send your application, resume, along with other credentials to the below email address:
personnel@personnel.gov.fm