Assistant Deputy Superintendent for Examinations (Director Financial Services Pr
New York State Department of Financial Services, Albany, New York, United States
Duties Description
The New York State Department of Financial Services seeks to build an equitable, transparent, and resilient financial system that benefits individuals and supports business. Through engagement, data-driven regulation and policy, and operational excellence, the Department and its employees are responsible for empowering consumers and protecting them from financial harm; ensuring the health of the entities we regulate; driving economic growth in New York through responsible innovation; and preserving the stability of the global financial system.
Duties
Advises the Superintendent, Executive Deputy Superintendent and Deputy Superintendent on Financial Examinations, Market Analysis, Reinsurance, Enforcement and Staffing;
Represents the Department of Financial Services in meetings with other agencies, the NAIC, industry representatives, the Legislature, Governor’s Office, other state and federal regulators, and the public;
Exercises technical and administrative authority over the Life Bureau in regulatory, administrative and personnel matters;
Monitors the financial solvency of the life industry through the establishment of financial standards and timely financial examinations;
Manages and oversees the review of reinsurance agreements;
Oversees the regulation of life insurer market activities including the establishment of market standards, periodic market conduct examinations, analysis of market data, and the review and resolution of consumer complaints;
Briefs and advises the Deputy Superintendent for Life and the Executive Deputy Superintendent for Life and the Executive Deputy Superintendent for Insurance and other executive staff, on a wide range of supervisory, regulatory, legislative, policy, enforcement, which includes the negotiation and execution of consent orders and other matters related to the Life Bureau, including major Insurance Division initiatives;
Assists in the oversight and management of the activities and operations of the Life Bureau, including establishing goals and priorities, training and developing staff, monitoring performance, coordinating units, and ensuring that the Bureau’s objectives and priorities are met;
Works closely with staff in other Divisions of DFS, including the General Counsel’s Office, Climate Division, Cyber Division, Consumer Protection and Enforcement Division, Legislative Affairs, and others, on life insurance-related decisions, regulations, laws, enforcement matters, projects, and initiatives;
Leads or participates in meetings and conferences and generally interact with regulated entities or their representatives, industry organizations, the NAIC, other governmental agencies, and the public on life insurance-related matters; Reviews Decision Memos and Briefing Memos that are prepared for the Superintendent; and
Other duties as assigned.
Minimum Qualifications
A bachelor’s degree and at least 10 years of relevant work experience including 5 years in the insurance or financial services industry;
At least 5 years of managerial supervision with a demonstrated ability to supervise large teams;
General familiarity with insurance regulation and New York Insurance Law;
Superior written and oral communication skills and strong analytical skills;
Strong intellectual, analytical and management skills.
Appointment Method This is an appointment to a position in the exempt jurisdictional class. As such, the incumbent of this position would serve at the pleasure of the appointing authority.
Additional Comments Please note that a change in negotiating unit may affect your salary, insurance and other benefits.
Salary: $172,787 - $213,995 (salary commensurate with experience)
Positions located within the New York City metropolitan area, as well as Suffolk, Nassau, Rockland, and Westchester Counties, are also eligible to receive an additional $4,000 annual downstate adjustment.
Appointment Status: This is an appointment to a position in the exempt jurisdictional class.
Appointment to this position is pending Governor Appointment’s Office and Division of Budget approval.
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Duties
Advises the Superintendent, Executive Deputy Superintendent and Deputy Superintendent on Financial Examinations, Market Analysis, Reinsurance, Enforcement and Staffing;
Represents the Department of Financial Services in meetings with other agencies, the NAIC, industry representatives, the Legislature, Governor’s Office, other state and federal regulators, and the public;
Exercises technical and administrative authority over the Life Bureau in regulatory, administrative and personnel matters;
Monitors the financial solvency of the life industry through the establishment of financial standards and timely financial examinations;
Manages and oversees the review of reinsurance agreements;
Oversees the regulation of life insurer market activities including the establishment of market standards, periodic market conduct examinations, analysis of market data, and the review and resolution of consumer complaints;
Briefs and advises the Deputy Superintendent for Life and the Executive Deputy Superintendent for Life and the Executive Deputy Superintendent for Insurance and other executive staff, on a wide range of supervisory, regulatory, legislative, policy, enforcement, which includes the negotiation and execution of consent orders and other matters related to the Life Bureau, including major Insurance Division initiatives;
Assists in the oversight and management of the activities and operations of the Life Bureau, including establishing goals and priorities, training and developing staff, monitoring performance, coordinating units, and ensuring that the Bureau’s objectives and priorities are met;
Works closely with staff in other Divisions of DFS, including the General Counsel’s Office, Climate Division, Cyber Division, Consumer Protection and Enforcement Division, Legislative Affairs, and others, on life insurance-related decisions, regulations, laws, enforcement matters, projects, and initiatives;
Leads or participates in meetings and conferences and generally interact with regulated entities or their representatives, industry organizations, the NAIC, other governmental agencies, and the public on life insurance-related matters; Reviews Decision Memos and Briefing Memos that are prepared for the Superintendent; and
Other duties as assigned.
Minimum Qualifications
A bachelor’s degree and at least 10 years of relevant work experience including 5 years in the insurance or financial services industry;
At least 5 years of managerial supervision with a demonstrated ability to supervise large teams;
General familiarity with insurance regulation and New York Insurance Law;
Superior written and oral communication skills and strong analytical skills;
Strong intellectual, analytical and management skills.
Appointment Method This is an appointment to a position in the exempt jurisdictional class. As such, the incumbent of this position would serve at the pleasure of the appointing authority.
Additional Comments Please note that a change in negotiating unit may affect your salary, insurance and other benefits.
Salary: $172,787 - $213,995 (salary commensurate with experience)
Positions located within the New York City metropolitan area, as well as Suffolk, Nassau, Rockland, and Westchester Counties, are also eligible to receive an additional $4,000 annual downstate adjustment.
Appointment Status: This is an appointment to a position in the exempt jurisdictional class.
Appointment to this position is pending Governor Appointment’s Office and Division of Budget approval.
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