Big Data and Artificial Intelligence Policy Director (Analyst VI) - DORA: DOI Hybrid

State of Colorado•Denver, CO

14d•Hybrid

About The Position

The Colorado Division of Insurance (DOI) regulates the insurance industry in Colorado by helping consumers by answering their questions, investigating their complaints, and helping them understand their insurance. The Division regulates and monitors the insurance companies in Colorado, as well as insurance agents, ensuring all are following the law. In addition to investigating consumer complaints and reviewing insurer rate and policy form filings, the property and casualty work unit is responsible for implementing Colorado Senate Bill 21-169—Concerning Protecting Consumers from Unfair Discrimination in Insurance Practices, a first-in-the nation effort to address the insurance industry’s use of big data and artificial intelligence. SB21-169 prohibits insurers from using external consumer data, algorithms, and predictive models in ways that unfairly discriminate against individuals based on their race, color, national or ethnic origin, religion, sex, sexual orientation, disability, gender identity, or gender expression across a range of insurance practices including underwriting, pricing, claims handling, utilization management, and marketing. This work unit’s responsibilities include engaging with multiple stakeholder communities, drafting regulations and regulatory guidance, reviewing insurers’ filings for compliance, monitoring the development of regulatory frameworks related to the governance and quantitative testing of big data and artificial intelligence systems, and collaborating with other state insurance regulators through the National Association of Insurance Commissioners. SB21-169 directs the Division to work with stakeholders before adopting rules on how insurers test their data, algorithms, and predictive models and demonstrate to the Division that their use does not unfairly discriminate against consumers. This position develops strategic and programmatic concepts to ensure that insurers’ use of big data, algorithms, and predictive models are not unfairly discriminating against protected classes of consumers. This position oversees the development of a leading-edge regulatory framework for the use of big data and artificial intelligence systems in underwriting, pricing, claims handling, and other insurance practices. Specifically, SB21-169 addresses potential unfairly discriminatory outcomes resulting from the use of big data, algorithms, and predictive models in certain insurance practices on the basis of race, color, national or ethnic origin, religion, sex, sexual orientation, disability, gender identity, or gender expression. The result, once the program is successfully implemented, is to ensure equitable treatment by insurers and the financial security it provides to all Coloradans regardless of race, ethnicity, sexual orientation, or other protected characteristics.

Requirements

Nine (9) years of full-time professional work experience in at least one (1) of the following three (3) areas: Developing or administering risk management and/or governance systems and frameworks for the use of predictive models, machine learning technologies, and big data; Performing quantitative and qualitative analysis, including conducting audits and/or examinations related to data collection and privacy, cybersecurity, algorithmic accountability, risk assessment and remediation, data ethics, and compliance; Developing, evaluating, and validating predictive models, machine learning algorithms, and big data predictive analytics with the ability to assess their accuracy, fairness, and transparency.
Associate’s Degree and Seven (7) years of full-time professional work experience in at least one (1) of the following three (3) areas: Developing or administering risk management and/or governance systems and frameworks for the use of predictive models, machine learning technologies, and big data; Performing quantitative and qualitative analysis, including conducting audits and/or examinations related to data collection and privacy, cybersecurity, algorithmic accountability, risk assessment and remediation, data ethics, and compliance; Developing, evaluating, and validating predictive models, machine learning algorithms, and big data predictive analytics with the ability to assess their accuracy, fairness, and transparency.
Bachelor’s Degree and Five (5) years of full-time professional work experience in at least one (1) of the following three (3) areas: Developing or administering risk management and/or governance systems and frameworks for the use of predictive models, machine learning technologies, and big data; Performing quantitative and qualitative analysis, including conducting audits and/or examinations related to data collection and privacy, cybersecurity, algorithmic accountability, risk assessment and remediation, data ethics, and/or insurance compliance; Developing, evaluating, and validating predictive models, machine learning algorithms, and big data predictive analytics with the ability to assess their accuracy, fairness, and transparency.

Nice To Haves

Demonstrated professional experience working in a government agency, in the insurance industry, or in the Colorado Division of Insurance;
Master’s or Doctorate degree in public policy, quantitative social science, mathematics, statistics, law, data science, computer science, risk management, or in a field of study directly related to the work assignment;
Demonstrated professional experience working with and knowledge of how predictive models, machine learning algorithms, and big data are utilized within insurance processes such as underwriting, pricing, and claims management, including the identification of potential biases and unintended consequences;
Demonstrated knowledge of statistical methods and professional experience in utilizing statistical software and programming languages such as R, Python, or SAS to analyze and interpret complex datasets;
Demonstrated professional experience in communicating complex technical issues to non-technical internal and external stakeholders, and engaging effectively with policymakers, industry representatives, and consumer advocates to develop and implement regulatory frameworks;
Demonstrated professional experience working in the financial or insurance industries related to implementing policies and practices to address unfair discrimination;
Demonstrated knowledge, understanding, and professional experience to ensure equitable access to insurance for all Coloradans regardless of race, ethnicity, sexual orientation, or other protected characteristics;
Demonstrated professional experience working in the insurance industry with a focus on enterprise risk management, and/or actuarial or quantitative analysis;
Demonstrated professional experience in overseeing policy development related to insurance under both state and federal laws, including drafting regulations;
Demonstrated professional experience in promoting the efficient use of policy and regulatory levers to address barriers and create opportunities to advance insurance industry transformation efforts.

Responsibilities

Developing a regulatory program to regulate insurers’ use of big data, algorithms, and predictive models to ensure their use does not result in unfair discrimination;
Advising, serving as a resource, and coordinating across the division, including working with the actuarial, rates and forms, consumer services, and market conduct teams in such a capacity to implement the program;
Coordination with other teams to regulate insurers' use of big data, algorithms, and predictive models;
Analyzing current carrier practices regarding the use of big data, algorithms, and predictive models;
Performing and/or directing policy research and developing policies, procedures, and regulations in compliance with state law;
Developing a plan to collect and evaluate carrier-reported data on their use of big data, algorithms, and predictive models and testing for unfairly discriminatory outcomes;
Directing and conducting stakeholder outreach and engagement with carriers, producers, consumers, consumer advocates, and other interested parties;
Evaluating carrier compliance and coordinating, as appropriate, enforcement activities;
Preparing reports and presenting to the General Assembly as part of State Measurement for Accountable, Responsive, and Transparent (SMART) Act hearings;
Participating in the work of the National Association of Insurance Commissioners (NAIC) and coordinating with other states to address issues as necessary;
Identifying gaps in enforcement, evaluating the effectiveness of implementation, and making adjustments to the program as data and tools in this area evolve.

Benefits

Employer-sponsored RTD EcoPass
Flexible schedules
Training and professional development opportunities
Employee wellness programs
Colorado State Employee Assistance Program (CSEAP)
Bike-to-work programs
Flexible retirement benefits, including a choice of the PERA Defined Benefit Plan or the PERA Defined Contribution Plan, plus optional 401K and 457 plans.
Medical and Dental Health Insurance for employees and optional coverage for their dependents.
Life Insurance for employees, and optional coverage for their dependents.
Paid Time Off, including 11 paid holidays.
Short- and long-term disability coverage.
Tuition assistance program.