State of New York - Albany/NYC, NY

posted 16 days ago

Full-time - Manager
Albany/NYC, NY
Executive, Legislative, and Other General Government Support

About the position

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. The Supervisor Property & Casualty Financial Operations in the Property Bureau performs the following duties under direct supervision of the Assistant Deputy Superintendents of the Property Financial Section.

Responsibilities

  • Administers the daily functions and supervision of the field examination unit that conducts examinations of property casualty insurers with respect to financial condition and corporate conduct.
  • Administers the daily functions and supervision of the work of Internet Technology (IT) Field Unit including the process of contracting work to external consultants, when necessary.
  • Directly supervises and evaluates roving examiners and reviews progress on ongoing financial examinations.
  • Establishes and modifies examination priorities and ensures that they are communicated to and supported by the Assistant Deputy Superintendents.
  • Supervises complex field examinations.
  • Reports statutory and accreditation time frame issues to the Assistant Deputy Superintendents.
  • Works with the Company Regulatory Units to identify time sensitive and risk sensitive examinations and prioritize examinations.
  • Schedules examinations in accordance with statutory requirements, NAIC accreditation standards and the need to participate in multi-state examinations.
  • Assigns staff to conduct financial examinations ensuring that examinations are adequately and appropriately staffed and in accordance with DFS and NAIC accreditation guidelines.
  • Ensures that examinations are completed within schedule and documents and seeks approval for necessary extensions from the Assistant Chiefs.
  • Arranges for appropriate external consultants to be used on financial examinations by assisting in the development of RFP's, working with consultants to incorporate their procedures into the examinations and Report on Examination and monitors progress.
  • Establishes and modifies procedural standards for conducting financial examinations and coordinated financial examinations in compliance with the Insurance Law, Regulations, Circular Letters, and NAIC accreditation standards.
  • Ensures that examination procedures are reflective of potential operational risks of the company and reflects knowledge of how the insurer operates.
  • Updates field staff regarding new and revised legislative, regulatory, policy and accreditation standards, guidelines and initiatives, and to incorporate revisions to NAIC manuals and Field Unit/DFS specific procedures.
  • Reviews monthly and on-site reports submitted by rovers and communicates issues of concern to the rovers and Assistant Deputy Superintendents.
  • Ensures that Reports on Examination are submitted in an orderly and timely fashion by monitoring report progress during the examination and assuring accuracy and logic when applying Insurance Law, regulations, circular letters, and statutory accounting practices as they relate to Property Companies.
  • Forwards recommendations resulting in violations to the Assistant Deputy Superintendents and counsel in a timely manner and monitors progress.
  • Reviews drafts of reports on examination and conducts meetings with company representatives to finalize report findings and coordinates with the Assistant Deputy Superintendents, counsel, and actuarial regarding recommendations, potential fines, and stipulations.
  • Updates template for Report on Examination as needed.
  • Evaluates and implements technology enhancements affecting the examination process.
  • Determines and recommends training for unit staff and evaluates requests for available training and evaluates the results of training.
  • Develops, recommends, and/or comments on new legislation, regulations, circular letters, special reports and DFS initiatives.
  • Ensures that unit staff are apprised of and following DFS administrative procedures.
  • Generates reports that meet the Bureau's needs including but not limited to, schedule of upcoming and ongoing examinations, report on progress of the review of Reports on Examination, Internal Control Reports, NAIC required reports, Special Reports to the Governor, Superintendent, and Executive.
  • Participates on NAIC committees and working groups.
  • Communicates orally and through written reports, memoranda, and letters with representatives of industry, the NAIC and DFS staff to elicit information and communicate ideas.
  • Arranges work in a systemic manner, sets priorities, doing critical work first and maintaining records for future reference.
  • Supports official policies and programs of DFS, particularly in the areas of equal opportunity performance, evaluation and employee training and development.
  • Reviews and approves requests for travel, overtime, alternative work schedules and travel reimbursement submitted by field staff.
  • Works directly with all levels of Executive in responding to technical and legal questions.
  • Other duties as assigned.

Requirements

  • A Bachelor's Degree in accounting, actuarial sciences, auditing, banking, business, business administration, business and technology, commerce, computer information systems, computer science, consumer sciences, criminal justice, cyber security, econometrics, economics, finance, financial administration, health, health administration, information systems, information systems engineering, information technology, internal controls, international or public affairs, law, market analysis, mathematics, public administration, public policy, risk management, statistics, taxation, or technology.
  • Eight (8) years of financial services experience with: 1) a regulated entity who has a regional, national and/or international presence; or 2) a governmental regulatory entity.
  • Three (3) years of the experience must have been at a managerial level.

Nice-to-haves

  • A J.D. or a Master's Degree may substitute for one (1) year of specialized experience.
  • A Ph.D. may substitute for two (2) years of specialized experience.

Benefits

  • Public Service Loan Forgiveness (PSLF) eligibility.
  • Reasonable accommodations under the Americans with Disabilities Act (ADA).
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