Director of Insurance

NJ Department of Banking and Insurance; Trenton (NJ); On-site; USD 150,000 - 190,000; Full time

Job summary

The New Jersey Department of Banking & Insurance seeks a seasoned leader to head the Division of Insurance, guiding regulatory oversight, licensing, and consumer protections in a complex and dynamic market.

The Director will oversee units including solvency regulation and life, health, and property & casualty insurance, represent the department externally, and drive cross-agency collaboration to improve efficiency and outcomes for insurers and the public.

Qualifications

• 15 years of experience in insurance regulation or related leadership roles.
• Expertise in insurance industry policy, regulation, and legal matters.
• Strong leadership to manage multi-workstream and multi-jurisdiction teams.
• Experience driving process improvements and customer-service initiatives for faster decisions.

Responsibilities

• Head the Division of Insurance within the NJ Department of Banking & Insurance.
• Oversee licensing processes for insurance companies and producers.
• Review products and rates for regulatory compliance; monitor solvency.
• Represent the department externally and coordinate with regulatory peers.
• Improve consumer interactions and educate the public on insurance products.

Skills

Insurance industry expertise

Regulatory experience

Leadership

Process improvement

Job description

The New Jersey Department of Banking and Insurance seeks a highly motivated, experienced leader to head the Division of Insurance. Reporting to the Commissioner of the Department of Banking & Insurance, and nominated by the Governor, the Director of Insurance oversees all state functions and duties that relate to the supervision and regulation of insurance entities.

The Division of Insurance oversees the processes for issuing licenses to insurance companies, producers and other risk-assuming entities, reviews insurance products and rates for compliance with existing regulations and monitors the financial solvency of licensees to ensure product availability in the marketplace. The Division also oversees the responses to consumer concerns and inquiries and endeavors to educate consumers regarding insurance products and issues

Focusing on the critical goals of access, affordability, solvency and consumer protection, the Director of Insurance will oversee all units of the Insurance Division, including:

• Office of Solvency Regulation
• Life Insurance, Health Insurance, and Property & Casualty Insurance
• Bureau of Fraud Deterrence

Additionally, the Director of Insurance will work with departmental, inter-agency, and industry partners to identify gaps, streamline processes, and ensure efficient protocols to improve both consumer and carrier experiences with the Division.

The Director of Insurance will also represent the Department externally and manage relationships with regulatory peers domestically and internationally.

REQUIREMENTS

15 years of experience required.

Ideal candidates will demonstrate:

1. expertise in the insurance industry, including legal, policy and regulatory matters,
2. strong leadership skills, including the ability to manage teams across multiple workstreams and jurisdictions, and
3. experience driving process improvements and customer service-oriented initiatives to achieve faster decision making and quicker turnaround times for both consumers and industry applications.