Minimum Qualifications Appointment method:
This is an appointment to a position in the exempt jurisdictional class. As such, the incumbent of this position would serve at the pleasure of the appointing authority.
Duties Description The New York Department of Financial Services (DFS) seeks to build an equitable, transparent and resilient financial system that benefits individuals and supports business.
DFS is seeking executive level applicants to fill the position of Deputy Superintendent for the Property Bureau in the Insurance Division. The position will report directly to the Executive Deputy Superintendent for Insurance or his/her designee on all matters related to the Property Bureau, including overseeing and managing all aspects of the property/casualty insurance industry in New York State.
The Property Bureau establishes standards for financial solvency, market conduct, and corporate oversight, and monitors the compliance of its regulated entities with such standards. The Deputy Superintendent will help shape DFS policy and carry out regulatory responsibility for the largest business unit in the Insurance Division, which oversees over 1000 regulated entities with more than $1.5 trillion of assets. The Deputy Superintendent will have direct management oversight of approximately 200 examiners, analysts, actuaries, attorneys, and support staff in the NYC and Albany offices. Working under the Executive Deputy Superintendent for Insurance and with others within the Insurance Division, as well as in conjunction with other DFS business units, the position functions with great independence in advancing the Bureau’s priority matters.
Among other responsibilities, the position involves:
• Briefs and advises the Executive Deputy Superintendent for Insurance and the Superintendent on a wide range of supervisory, transactional, regulatory, legislative, policy, enforcement, and other matters related to the Property Bureau, including major Insurance Division initiatives;
• Works closely with Bureau staff, including examiners, actuaries, and lawyers on property/casualty insurance-related decisions, projects, and initiatives;
• Analyzes and makes recommendations based on a thorough understanding of the short- and long-term impact of any property/casualty insurance-related decisions, projects or initiatives;
• Participates in the examination and investigation of regulated entities, including the supervision of the Market Conduct Unit that applies the New York Insurance Law (NYIL) and related laws and regulations to protect consumers;
• Assists in the analysis of and advising on corporate transactions pursuant to Article 15 of the NYIL;
• Assists in the oversight and management of the activities and operations of the Property Bureau, including managing its employees, establishing goals and priorities, monitoring performance, coordinating the work of the Property Bureau’s units, and ensuring that the Bureau’s work objectives and priorities are met;
• Works closely with management and staff in other Divisions of DFS, including the General Counsel’s Office, Climate Division, Cyber Division, Legislative Affairs, Consumer Protection and Enforcement, and others, on property/casualty insurance-related decisions, regulations, laws, enforcement matters, projects, and initiatives; and
• 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 agencies, elected officials, advocacy groups, and the public on property/casualty insurance-related matters.
• At least 10 years of relevant work experience, of which 5 years should be in the property/casualty insurance industry;
• At least 5 years of managerial supervision with a demonstrated ability to supervise large teams;
• Strong familiarity with insurance regulation and the NYIL;
• Strong project management skills, including experience managing many time-sensitive, complex projects simultaneously;
• Strong analytical skills;
• Demonstrated ability to manage human capital and other resources to support short- and long-term
• Superior written and oral communication skills; and
• JD preferred but not required.
Additional Comments 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 $3,026 annual downstate adjustment.
Appointment to this position is pending Governor Appointment’s Office and Division of Budget approval.
Some positions may require additional credentials or a background check to verify your identity.
Notes on ApplyingTo Apply: Interested qualified candidates must submit a resume and letter of interest no later than July 1, 2022 to the email address listed below. Please include the Box # (Box DS-DSPB-00105) in the subject line of your email to ensure receipt of your application. Email submissions are preferred.
New York State Department of Financial Services
Office of Human Resources Management
One Commerce Plaza, Suite 301
Albany, NY 12257
Fax: (518) 402-5071
All candidates that apply may not be scheduled for an interview
AMERICANS WITH DISABILITIES ACT: REASONABLE ACCOMMODATIONS
Under the Americans with Disabilities Act (ADA), the Department of Financial Services is required to provide reasonable accommodation for known physical or mental limitations of an otherwise qualified applicant with a disability if an accommodation would enable the applicant to perform the essential functions of the job. If the accommodation would constitute an undue hardship on the operations of the agency, the agency is not required to provide it.