Preferred Qualifications

• A bachelors degree and at least 10 years of relevant work experience including 5 years in the insurance or financial services industry;
• At least 5 years of managerial supervision with a demonstrated ability to supervise large teams;
• General familiarity with insurance regulation and New York Insurance Law;
• Superior written and oral communication skills and strong analytical skills;
• Strong intellectual, analytical and management skills.

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.

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 Department of Financial Services is seeking candidates for the position of Deputy Superintendent for the Pharmacy Benefits Bureau. Duties include, but are not limited to, the following:

• At the direction of the Superintendent of Financial Services, oversees the Department’s supervision of the pharmacy benefit manager (PBM) industry in New York;
• Oversees and manages the Pharmacy Benefits Bureau staff which are responsible for investigating spikes in drug prices impacting New York consumers and insurance market;
• Manages the Pharmacy Benefits Bureau to implement legislation including creating, obtaining approval for, and executing a phased staffing plan to bring needed experts into the Department;
• Manages the Bureau’s annual budget;
• Serves as adjudication officer for complaints against PBMs issuing findings of fact and conclusions of law with authority to assess fines, award restitution and compensatory damages, and revocation of licensure;
• Drafts and negotiates legislation regarding DFS’s authority to regulate the PBM industry;
• With approval from the Superintendent, issues the determination required to launch an investigation under the statute and presents draft determination to the Drug Accountability Board for its advice and consent; and
• Other duties as assigned.