Deputy Insurance Commissioner, Company Supervision

10/05/2021 11:37 AM | Anonymous

This recruitment will remain open until the position is filled. It is in the applicant's best interest to submit materials as soon as possible.

 

The Insurance Commissioner's Office (OIC) is seeking a highly energetic civil service exempt Deputy Insurance Commissioner for Company Supervision.

 

The Deputy Insurance Commissioner heads the Company Supervision Division.  This rewarding position manages a wide variety of situations and is responsible for the financial and market examination and supervision of all Washington organized insuring entities and all other insuring entities licensed to do business in this state. The position's priority is to protect insurance consumers, the public generally, and the state's economy by ensuring the safety and soundness of insuring entities, and to ensure that they comply with applicable law.   

 

This position has broad statutory discretion and specific statutory authority involving the registration and/or licensing, operation, supervision, receivership, liquidation, and merger of insuring entities.

 

If you are a strategic leader looking for a new challenge, who enjoys working as a member of the senior executive staff and wants to make a difference in Washington State in insurance regulatory matters, please apply!

This is a civil service exempt position.  Salary depends on qualifications (up to $138,540).

 

AGENCY PROFILE AND VALUES

 

The Office of the Insurance Commissioner (OIC) operates under the direction of the state's Insurance Commissioner, a statewide elected official.  Our mission is to provide consumer protection and regulation of the state's insurance industry.
 
With a workforce of approximately 265 employees, we are one of the smaller state agencies in Washington state government and are fortunate to have a stable funding source that does not rely on the state's general fund.
 
Because we are a small agency, you will truly get a chance to understand the 'big picture' of what we do and why we do it.  You will also have a chance to get to know your co-workers.

 

We have high employee satisfaction scores and we value diversity in the workplace. We challenge our employees to continuously improve the way we do business and to meet and exceed the needs of our customers.
 
To learn more about this agency, we invite you to visit our website at 
http://www.insurance.wa.gov/ and listen to our employees talk about why they love working here. 

 

BENEFITS OF WORKING FOR OIC

 

As an eligible state employee, Washington State offers:

·                An outstanding benefits package and retirement plans.

·                Training and development opportunities, including tuition reimbursement.

·                Program for Public Service Loan Forgiveness (if applicable)

·                Free parking at our main office in Tumwater.

·                A stable funding source that does not rely on the state's general fund.

·                The fulfillment of public service.

·                Excellent work-life balance.

·                Commitment to diversity in the workplace and support one another with respect and trust.

·                Free Thurston County Transit public transportation, or King County ORCA Transit pass for public transportation.

Duties

The Deputy Insurance Commissioner for Company Supervision is a member of the Executive Management Team and reports to the Chief Deputy Insurance Commissioner. Members of the Executive Management Team work together to set strategic direction for the agency, establish legislative goals, ensure fiscal responsibility and create an inclusive, performance-based culture.   As an Executive leader you will manage a division of approximately 57 employees at two locations with responsibility to direct the regulatory program and internal operations of the Company Supervision Division.

 

Other duties include:

 

·       Implementing, managing, and maintains the goals and objectives of the Commissioner as defined in the agency's strategic plan.

·       Supervising the maintenance of standards necessary to maintain NAIC financial accreditation.

·       Planning, leading, organizing and controlling the work performed by the division which includes:

·       Regulating and supervising all insuring entities organized in Washington to assure financial stability and compliance with consumer facing market activity regulations.

·       Licensing, regulating and supervising all insuring entities organized in other states or non-U.S. jurisdictions that do business in Washington to assure financial stability and compliance with consumer facing market activity regulations.

·       Supervising programs designed to ensure protection of insurance consumers from the failure of insurers doing business in this state and from insurer deviation from legally required market practices.  These programs include the management of financially troubled or insolvent insurers and the coordination with insurer guaranty associations.

·       Exercise broad statutory discretion over laws and regulations regarding registration or licensing, operation, liquidation, merger or acquisition of insurers, and insurer activity in the Washington marketplace.

·       Monitor and coordinate the activities of other state insurance regulators in relation to insurers doing business in Washington, recommends participation in multi-state examinations and settlements, and approves coordination of examinations led by NAIC designated lead states.

REQUIRED QUALIFICATIONS: 

·       A Bachelor's Degree

·       5 years experience as a manager/supervisor -  (Supervisory experience should include experience with employee groups of more than 10 staff members)

·       3 years experience as a manager/supervisor of subordinate managers/supervisors

·       Proven experience with contract tracking and monitoring to ensure terms and deadlines are met; ability to review and modify contract proposals to ensure compliance with guidelines

·       Proven experience working with all levels of staff, including senior level subject matter experts, to extract, compile, and extrapolate data to prepare narratives, presentations, and statistical or other reports for review, analysis, document support of an action to accomplish an objective.  Report types to be reviewed includes, but is not limited to: insurer financial statements, financial and market examination reports, ratio analyses, insurer investment schedules, and financial market report

·       General knowledge of:

o      Financial organization, reporting practices, and operations of various types of insurance companies.

o      Provisions of the law governing insurance companies.

o      Financial statement analysis, ratio analysis, reinsurance transactions, investment transactions, holding company transactions, and reserving techniques and analysis.

o      Principles, practices, techniques, and methods of accounting, auditing, and financial examining as used in insurance examining.

 DESIRED EXPERIENCE/SKILLS:

·       Certified Public Accountant (CPA) or Certified Financial Examiner (CFE) designation

·       J.D. Degree

·       Experience in regulatory environment

·       Experience in insurance regulation, financial regulation, corporate organization, or corporate governance

·       Familiarity with NAIC programs and operations

·       Direct experience with insurance company operations

·       Direct experience reviewing and evaluating documents and information, such as the work of professional staff, for completeness, accuracy and compliance with policies and standards.

How to Apply: Applications for this recruitment will be accepted electronically. Please click on the link below to view the full job announcement and to apply:

https://www.governmentjobs.com/careers/washington/jobs/3243042

Select the large green "apply" button at the top of the to log in and submit your application.  If you have not done so previously, you will need to set up an account profile.  To learn more about our agency and other job opportunities we have available visit our site at: https://www.insurance.wa.gov/job-opportunities

 


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