Assistant Deputy Superintendent for Life (Assistant Deputy Superintendent, NS)

Description

Duties Description

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.

Duties

The Department of Financial Services is seeking candidates for the position of Assistant Deputy Superintendent for the Life Bureau. This position is responsible for assisting the Deputy Superintendent for Insurance in all supervisory, regulatory and legislative issues related to the operations and activities of the Life Insurance Bureau. Working under the general direction of the Deputy Superintendent for the Life Bureau, this position will function with great independence and authority, while serving as a valued member of the Superintendent’s Executive team. Duties include, but are not limited to, the following:

• Assists in implementation of the Superintendent’s goals and objectives for the Life Insurance Bureau;
• Provides the Deputy Superintendent for the Life Bureau and, when necessary, the Executive Deputy Superintendent with advice on issues related to the life insurance industry and regulatory process;
• Assists in the oversight and management of the daily activities and operations of the Life Insurance Bureau and its over one hundred and forty full-time employees, with responsibilities including oversight of the licensing, the National Association of Insurance Commissioners (NAIC) accreditation, and the examination and regulation of all life insurers and related entities;
• Assists the Deputy Superintendent with the prioritization of pending Life Bureau matters, including appropriate reporting to the Executive Deputy Superintendent and Superintendent;
• Makes recommendations that are relevant to the issues based on a thorough understanding of the short and long-range impact;
• Takes primary role on all regulated entity transactions, including Article 15 transactions, disclaimers of control, mergers, demutualization’s and similar transactions;
• Assists with establishing policies, procedures, guidelines, and appropriate supervisory actions relating to the Life Insurance Bureau, including the promulgation of new regulations and laws, as necessary;
• At the request of the Deputy Superintendent, supervises specific units or divisions within the Life bureau, including the supervision of personnel assigned to such units or divisions;
• Presides at or participates in meetings and conferences with insurers, representatives of industry organizations, the NAIC, other governmental agencies and the public on behalf of DFS;
• Ensures that the programs of the Governor and the agency are effectively and expeditiously implemented;
• Acts for and in place of the Deputy Superintendent for the Life Bureau as necessary;
• Develops a collaborative working relationship with other divisions within DFS and works on cross-divisional projects and initiatives; and
• Other duties as assigned.
  
  

Preferred Qualifications

Minimum Qualifications

• 11 years of experience working for a company in the life insurance sector or working in life insurance regulation. Two years of experience must have been at the managerial level.
• Substitutions: Associate degree may substitute for two years of specialized experience; bachelor's degree may substitute for four years of specialized experience; master's degree may substitute for five years of specialized experience; J.D. may substitute for six years of specialized experience; Ph.D. may substitute for seven years of specialized experience.
  
  

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.

Additional Comments

Please note that a change in negotiating unit may affect your salary, insurance and other benefits.

Salary: $127,507 - $160,911 (salary commensurate with experience)

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 $4,000 annual downstate adjustment.

Appointment Status: This is an appointment to a position in the exempt jurisdictional class.

Appointment to this position is pending Governor Appointment’s Office and Division of Budget approval.