Our organization continues to grow from humble beginnings.
The Financial Examiners Educational Foundation was originally formed in 1981 as the Society of Financial Examiner's Educational Foundation by those responsible for the formation of the Society of Financial Examiners including Vincent Vaccarello, Christy Armstrong, John Kline, Richard Gregg, Elmer Voorhis and Roy Bess Jr. Vincent Vaccarello and Roy Bess both served as Presidents of the Educational Foundation. The organization's purpose was to offer professional training and testing to insurance company examiners employed by state insurance departments.
In 1978, the Society of Financial Examiners (SOFE) was recognized by the National Association of Insurance Commissioners and state insurance departments as the accrediting body for individuals qualified to perform financial examinations of insurance companies. This was done at the urging of then Pennsylvania Insurance Commissioner, William Sheppard. The Society's Educational Foundation quickly took the lead in becoming the primary provider of educational opportunities for examiners, since neither the National Association of Insurance Commissioners or any state insurance department had the resources to do so.
Today, educational opportunities for solvency regulators have been helped through the efforts of the NAIC and SOFE; however, the Foundation seeks to supplement these activities and meet specific needs.
In 1995, the Society became the Financial Examiners Educational Foundation. We maintain our goal of dedication to educational opportunities for employees of state insurance departments concerned with solvency regulation and related research.