Deputy Secretary/Commissioner II

State of North Carolina

1d • $100,795 - $144,000

About The Position

The mission of the North Carolina Department of Insurance is to promote a stable insurance market through unbiased regulation and to protect the lives and property of every citizen in all 100 counties while fostering superior, user-friendly service, courtesy, and respect. Our agency licenses insurance agents, adjusters, bail bondsmen and more, along with investigating fraud matters involving insurance consumers and any entity or individual regulated by the Department. In an ever-changing environment, it is the vision of the Department of Insurance to maintain the stabilization of the insurance industry in order to provide more products, competitive prices and consumer protection.
Salary Recruitment Range: $100,795 - $144,000
Salary Grade: NC26
The posting will close at 11:59 p.m. the night before the closing date.
Primary Purpose of the Organizational Unit: The Company Services Group within the North Carolina Department of Insurance regulates all entities engaged in the business of insurance under Chapter 58 of the North Carolina General Statutes to protect policyholders and the public. Through its Financial Examinations, Financial Analysis, Financial Oversight, and Captive Insurance Company divisions, the Group evaluates whether insurers and related entities meet solvency standards and comply with legal and regulatory requirements. Core responsibilities include conducting statutory and targeted financial examinations, analyzing financial statements and regulatory filings, reviewing licensure applications and affiliated transactions, and overseeing troubled companies or those placed into rehabilitation or liquidation. The Group also licenses and monitors captive insurance companies, risk retention groups, and “Special Entities” such as continuing care retirement communities, professional employer organizations, and self insured employers and groups. Across all areas, the Company Services Group continually adjusts its procedures to reflect industry and regulatory developments and remains prepared to respond to emerging issues with little notice.
Primary Purpose of the Position: The Senior Deputy advises the Chief Deputy Commissioner on major administrative and operational matters and oversees divisions within the Company Services Group. This position analyzes and recommends solutions on budget, personnel, and resource allocation issues; interprets statutes and departmental policies; and represents the Department in work groups and task forces of the National Association of Insurance Commissioners. The Senior Deputy also works with Department leadership and legislative staff to evaluate proposed legislation, assess regulatory impacts on consumers, and contribute to discussions on potential financial regulation initiatives. Operationally, the Senior Deputy directs the Department’s financial regulation activities, including financial analysis for approximately 1,600 regulated entities, company licensing reviews, financial examinations, oversight of troubled companies, and receiverships. The role also supervises analysis and licensing activities for captive insurers and risk retention groups. In carrying out these responsibilities, the Senior Deputy guides staff in evaluating statutory, procedural, and technical requirements, monitoring developments in the insurance industry and regulatory environment, and implementing changes needed to ensure effective solvency oversight and the protection of North Carolina policyholders.

Requirements

• Bachelor's degree in accounting or a related program from an appropriately accredited institution and five (5) years of progressive experience in Agency related industry/operations, including three (3) years of supervisory experience; or an equivalent combination of training and experience.

Nice To Haves

• Considerable knowledge of Statutory Accounting Practices, Generally Accepted Accounting Principles, auditing theory, and company operations, the ability to evaluate complex investment vehicles or transactions, and the ability to evaluate mergers and acquisitions.
• Deep and thorough understanding of all rules and regulations governing the regulated entities.
• Knowledge or the ability to familiarize oneself with NCGSs (North Carolina General Statutes) and the ability to understand laws and apply laws to daily situations.
• Excellent communication skills are needed due to the significant contact with the public, regulated entity personnel and members of the senior management team within the Department.
• Ability to work independently and with considerable discretion within the guidelines of state laws, regulations, and policies under the direction of the Chief Deputy Commissioner.

Responsibilities

• The Senior Deputy advises the Chief Deputy Commissioner on major administrative and operational matters and oversees divisions within the Company Services Group.
• This position analyzes and recommends solutions on budget, personnel, and resource allocation issues; interprets statutes and departmental policies; and represents the Department in work groups and task forces of the National Association of Insurance Commissioners.
• The Senior Deputy also works with Department leadership and legislative staff to evaluate proposed legislation, assess regulatory impacts on consumers, and contribute to discussions on potential financial regulation initiatives.
• Operationally, the Senior Deputy directs the Department’s financial regulation activities, including financial analysis for approximately 1,600 regulated entities, company licensing reviews, financial examinations, oversight of troubled companies, and receiverships.
• The role also supervises analysis and licensing activities for captive insurers and risk retention groups.
• In carrying out these responsibilities, the Senior Deputy guides staff in evaluating statutory, procedural, and technical requirements, monitoring developments in the insurance industry and regulatory environment, and implementing changes needed to ensure effective solvency oversight and the protection of North Carolina policyholders.

Benefits

• 12 Annual paid Holidays
• North Carolina State Health Plan administered by AETNA
• Supplemental Benefits including Flexible Spending Accounts, Accident Insurance, Cancer & Specified Disease, Critical Illness, Dental and Vision
• NC State Retirement (TSERS)
• WeSave Employee Discounts

What This Job Offers

• Job Type: Full-time
• Career Level: Executive