Review Vacancy
AgencyFinancial Services, Department of
TitleAssistant Deputy Superintendent for Property (Director Financial Services Programs 2)
Occupational CategoryFinancial, Accounting, Auditing
Bargaining UnitPS&T - Professional, Scientific, and Technical (PEF)
Salary RangeFrom $141509 to $170993 Annually
Minimum Qualifications Preferred Qualifications
• At least 5 years of relevant work experience in the property/casualty insurance industry preferred.
• Demonstrated ability to supervise large teams.
• Strong familiarity with insurance regulation and the New York Insurance Law.
• 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 priorities.
• Superior written and oral communication skills.
• JD preferred but not required.
Appointment method:
Candidates must meet the minimum qualifications listed below in order to be eligible for appointment.
Non-Competitive: 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 and 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. This experience must include practical and technical knowledge about State, federal and/or international financial services laws, rules and regulations. Three (3) years of the experience must have been at a managerial level.
Substitutions: A J.D. or a Master's Degree may substitute for one (1) year of specialized experience; and a Ph.D. may substitute for two (2) years of specialized experience.
Duties Description The New York Department of Financial Services seeks to build an equitable, more transparent and resilient financial system that benefits New Yorkers and supports business. Through engagement, data-driven regulation, and operational excellence, DFS is responsible for empowering consumers and protecting them from financial harm; ensuring the health and stability of the financial entities we regulate; and driving economic growth through responsible innovation.
DFS is seeking executive level applicants to fill the position of Assistant Deputy Superintendent for Property in the Property Bureau within the Insurance Division. Working with the Deputy Superintendent for Property and another Assistant Deputy Superintendent, the Assistant Deputy Superintendent for Property will oversee and manage the Property Bureau, which is responsible for the supervision and regulation of the entire property and 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 Assistant Deputy Superintendent for Property 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 Assistant Deputy Superintendent will assist in the management oversight of approximately 200 examiners, analysts, actuaries, attorneys, and support staff in the NYC and Albany offices. Working under the general direction of the Deputy Superintendent for Property and closely with others within the Property Bureau, as well as in conjunction with other DFS business units, the position functions with great independence in advancing the Bureau’s objectives.
Duties include, but are not limited to:
• Briefs and advises the Deputy Superintendent for Property and the Executive Deputy Superintendent for Insurance 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 matters;
• 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 supervision of examinations and investigations 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 advises on corporate transactions pursuant to Article 15 (Holding Companies) of the NYIL, including complex issues arising out of acquisitions and disclaimers of control;
• Assists in the oversight and management of the activities and operations of the Property Bureau, including 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 staff in other Divisions of DFS, including the Office of General Counsel, Climate Division, Cyber Division, Legislative Affairs, Consumer Protection and Financial Enforcement Division 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, and the public on property/casualty insurance-related matters.
Additional Comments The starting salary for this position is $141,509 with periodic increases up to $170,993.
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 $3,400 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.
Email Address NCE.Notifications@dfs.ny.gov
Address
Notes on ApplyingTo Apply: Interested qualified candidates must submit a resume and letter of interest no later than April 11, 2024, to the email address listed below. Please include the Vacancy ID in the subject line of your email to ensure receipt of your application. Email submissions are preferred.
Kara Waters
New York State Department of Financial Services
Office of Human Resources Management
One Commerce Plaza, Suite 301
Albany, NY 12257
Email: NCE.Notifications@dfs.ny.gov
Fax: (518) 402-5071
All candidates that apply may not be scheduled for an interview
Public Service Loan Forgiveness
Employment with New York State qualifies an individual for Public Service Loan Forgiveness (PSLF). This program forgives the remaining balance on any Direct Student Loans after you have made 120 qualifying monthly payments while working full- time for a U.S. federal, state, local, or tribal government or not-for-profit organization. To learn more about the program and whether you would qualify, please visit: https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service
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.
All people with disabilities are encouraged to apply to all jobs for which they meet the minimum qualifications.
Pursuant to Executive Order 161, no State entity, as defined by the Executive Order, is permitted to ask, or mandate, in any form, that an applicant for employment provide his or her current compensation, or any prior compensation history, until such time as the applicant is extended a conditional offer of employment with compensation. If such information has been requested from you before such time, please contact the Governor’s Office of Employee Relations at (518) 473-3130 or via email at response@oer.ny.gov