Executive Deputy Superintendent for Insurance

State of New York • New York City, NY

166d • $172,787 - $213,995

About The Position

The New York Department of Financial Services (DFS) seeks to build an equitable, transparent and resilient financial system that benefits individuals and supports business. The Insurance Division is responsible for the supervision and regulation of the insurance industry in New York State - including nearly 2,000 insurance companies with assets of more than $6.4 trillion and more than 420,000 insurance producers. The Division is responsible for establishing standards for financial solvency, market conduct, corporate oversight, and regulation, and monitoring the compliance of regulated entities with these standards. The Executive Deputy reports directly to the head of DFS, the Superintendent of Financial Services, and is a member of the Department's Executive Team. The Executive Deputy is responsible for all regulatory and supervisory issues, as well as enforcement matters, related to the operating units of the Insurance Division. They determine policy and appropriate supervisory actions undertaken by the Department and represents the Superintendent and the Department in meetings with government agencies, and industry trade groups. This position requires direct contact with the Superintendent, Deputy Superintendents, staff and field examiners on a daily basis, as well as significant contact with insurance entities, attorneys, other state and federal regulatory agencies and the public. The Insurance Division is comprised of over 600 employees divided among four Bureaus. Property Business Unit, responsible for regulating property/casualty and title insurance companies; Health Business Unit, responsible for regulating health insurers, pharmacy benefit managers as well as the fiscal solvency of accident and health insurance companies; Life Business Unit, responsible for regulating licensed life insurance companies; and the Producers Bureau, responsible for all aspects of the licensing, examination, supervision, investigation and discipline of insurance producers.

Requirements

• A bachelor's degree, law degree, and at least 10 years of relevant work experience in the insurance and financial services industry
• At least 5 years of managerial supervision
• Knowledge of insurance regulation and New York Insurance Law
• Demonstrated ability to manage human capital and other resources to support short and long-term priorities
• Superior written and oral communication skills, and strong analytical skills

Responsibilities

• Responsible for all Division regulatory operations
• Acts as chief advisor to the Superintendent on a wide range of supervisory, transactional, regulatory, legislative, policy, enforcement and other matters related to the Insurance Division
• Ensures that the insurance-related programs of the Governor and Superintendent are effectively and expeditiously implemented
• Works closely with Executive management in other Divisions, including the General Counsel's Office, Climate Division, Cyber Division, External Affairs, and others, on insurance-related decisions, projects, and initiatives
• Oversees and serves as coordinator of the assigned risk plan
• Leads or participates in meetings and conferences, and generally interacts, with regulated entities or their representatives, industry organizations, the National Association of Insurance Commissioners, other governmental entities and the public on insurance-related matters

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
• Public Service Loan Forgiveness (PSLF) eligibility

What This Job Offers

• Job Type: Full-time
• Career Level: Executive
• Industry: Executive, Legislative, and Other General Government Support
• Education Level: Bachelor's degree
• Number of Employees: 51-100 employees