Deputy Assistant Commissioner

NJ Department of Banking and Insurance; Trenton (NJ); On-site; USD 110,000 - 150,000; Full time

Job summary

The New Jersey Department of Banking and Insurance seeks a Deputy Assistant Commissioner for the Office of Solvency Regulation in the Division of Insurance. The role leads the monitoring of financial condition and solvency of insurers operating in New Jersey and vets insurer applications to form a domestic insurer or to transact business by foreign insurers.

Reporting to the Assistant Commissioner, the Deputy will supervise staff, interact with senior insurer management, and coordinate with the

Qualifications

• Bachelor's degree from an accredited college or university.
• CPA, JD, and/or an advanced financial related degree will be strongly considered.
• Six (6) years of managerial experience in public administration.
• Education may be substituted by additional experience at a rate of thirty (30) semester hours per year.
• Ten (10) years of relevant financial and/or regulatory experience in the insurance industry; five years or more of which shall have included managerial experience.

Responsibilities

• Provide leadership and management over managerial, supervisory, and staff level employees within the Office of Solvency Regulation.
• Oversee analysis, examinations, and financial condition monitoring of insurers and related entities.
• Oversee admissions, change in control, and liquidations functions.
• Oversee Surplus Lines and other entities.
• Engage with the National Association of Insurance Commissioners and industry groups.

Skills

Managerial experience

Leadership

Public administration

Education

Bachelor's degree

CPA

JD

Advanced financial degree

Job description

The Department of Banking and Insurance seeks a qualified candidate to serve as Deputy Assistant Commissioner for the Office of Solvency Regulation in the Division of Insurance. This position provides leadership in the monitoring of the financial condition and solvency of all domestic and foreign insurers, reinsurers, and other related entities (collectively as "insurers") doing business in the State of New Jersey. This position is also responsible for overseeing the vetting of all insurer applications to form a domestic insurer in this State or to seek admission to transact insurance business by foreign insurers.

The Deputy Assistant Commissioner is an integral member of the management team within the Office of Solvency Regulation and will regularly interact with senior management of insurers as well as play an important role in the Department’s activities with the National Association of Insurance Commissioners and other industry groups. The Deputy Assistant Commissioner, reporting to the Assistant Commissioner of Solvency Regulation, will provide leadership and management over managerial, supervisory, and staff level employees, as well as over various functions in the Office of Solvency Regulation, including:

• Analysis
• Examinations
• Admissions, Change in Control& Liquidations
• Surplus Lines and Other Entities
• Other Specialized Areas

For full CSC description, please visit Job Specification 10077

REQUIREMENTS

Graduation from an accredited college or university with a bachelor's degree.

Candidates possessing a Certified Public Accountant (CPA), JD, and/or an advanced financial related degree will be strongly considered.

Six (6) years of managerial experience in public administration.

Applicants who do not possess the required education may substitute additional experience as indicated on a year-for-year basis with thirty (30) semester hour credits being equal to one (1) year of experience.

PREFFERED EXPERIENCE

Ten (10) years of relevant financial and/or regulatory experience in the insurance industry; five years or more of which shall have included managerial experience. Familiarity with insurance regulation and New Jersey Insurance Law.