Financial & Group Services - New York, NY

posted 2 months ago

Full-time - Mid Level
New York, NY
Insurance Carriers and Related Activities

About the position

The Financial Services Specialist 4 (Policy Analysis) position at the New York State Department of Financial Services is responsible for overseeing the operation and administration of the Excess Line Unit's activities. This role involves supervising a small team, ensuring compliance with regulations, and communicating departmental goals effectively. The specialist will also assist in drafting legislation and regulations, provide feedback on proposed legislation, and coordinate responsibilities with other units and external agencies.

Responsibilities

  • Oversees various entities, licensees, and markets such as excess line brokers, risk retention groups, purchasing groups, and the free trade zone.
  • Supervises a small unit or team of lower-level Financial Services Examiners.
  • Communicates Department goals effectively to staff to assure that all directives are being achieved, work is accurate and completed in a timely manner.
  • Assists superiors in drafting legislation, regulations, and circular letters that further Department oversight of the unit's primary areas of responsibility.
  • Provides feedback on legislation being proposed and makes recommendations as to its need and applicability.
  • Effectively communicates and coordinates the responsibilities of the unit with other units of the Bureau, OGC, FFCPD, or other Bureaus of the Department as well as outside agencies.
  • Acts as a liaison with the Excess Line Association of New York (ELANY) to convey Department directives.
  • Assures the staff is properly trained and that technology is being utilized to the fullest to accomplish Bureau and Department objectives.
  • Develops, implements, and monitors new methods to accomplish the unit's objectives.
  • Mentors, motivates, and encourages development of subordinates, including providing employee training and completing necessary performance evaluations.
  • Assists supervisors to complete any projects or special projects assigned to the unit.
  • Coordinates with IT staff to update applicable technological resources for the Unit.

Requirements

  • A Bachelor's Degree in Business, Business Administration, Economics, Econometrics, Finance, Health, Health Administration, Health Policy, Law, Mathematics, Political Science, Public Administration, Public Health, Public Policy, Risk Management or Statistics.
  • Five (5) years of specialized experience in research, planning, administration, and/or analysis of policies affecting regulated entities, with two (2) years at a supervisory level.
  • A Master's Degree in a related field or a J.D. may substitute for one (1) year of specialized experience.
  • A Ph.D. in a related field may substitute for two (2) years of specialized experience.

Nice-to-haves

  • Experience in risk management or financial services regulation.
  • Strong analytical and communication skills.

Benefits

  • Salary range of $103,784 - $127,830 per year with periodic increases.
  • Additional $3,400 annual downstate adjustment for positions in the New York City metropolitan area and certain counties.
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