Insurance Commissioner

State of Colorado; Denver (CO); On-site; USD 120,000 - 180,000; Full time

Benefits offered by this job

PERA retirement benefits

Medical, Dental, and Vision insurance

Disability coverage

Life and AD&D Insurance

FSAs and paid leave

Job summary

State of Colorado seeks an Insurance Commissioner to lead the Colorado Division of Insurance. The CEO will regulate Colorado’s insurance market, license carriers and agents, examine solvency and market conduct, and enforce protections against surprise billing and high-cost medications.

Essential duties include directing operations and budget, building a high-performing team, and coordinating with the Governor’s Office and legislature on policy issues and regulatory actions.

Qualifications

• Bachelor’s or advanced degree in business, finance, economics, law, public administration, actuarial science, or a closely related field
• Ten or more years of progressive leadership experience in business, government, law, or accounting
• Five or more years of professional executive management experience that includes setting goals and objectives and managing a budget
• Five or more years of experience fostering effective and efficient process improvements for an organization of twenty-five or more employees
• Familiarity with the insurance industry

Responsibilities

• Oversee and manage the division’s operations and ensure alignment with the division’s goals
• Direct and oversee the division’s budget and ensure fiscal management within the approved budget
• Build and cultivate a high-performing team through leadership, coaching, and development
• Issue certificates of authority to insurance companies and license carriers and producers
• Enforce recordkeeping and legal compliance for regulated entities
• Conduct examinations and investigations and adopt insurance rules and bulletins
• Review carrier rates and policy forms and conduct market conduct examinations
• Enforce surprise billing protections and insulin cost protections
• Represent Colorado in national and multistate insurance standards forums
• Engage carriers, trade associations, agents, brokers, and consumer organizations
• Keep permanent records and prepare annual statements of company filings
• Brief the Governor’s Office on policy issues from state and federal activity
• Coordinate with General Assembly and manage responses to proposed legislation

Skills

Leadership

Regulatory knowledge

Stakeholder engagement

Communication

Education

Bachelor’s or advanced degree in business, finance, economics, law, public administration, actuarial science, or related field

10+ years of progressive leadership experience in business, government, law, or accounting

5+ years of professional executive management experience including budgeting

5+ years improving processes in large organizations

5+ years building relationships with diverse stakeholders

Familiarity with the insurance industry

Job description

Who We Are

Colorado Governor-elect Phil Weiser is committed to an administration that represents all of Colorado, and serves and protects every Coloradan. Governor-elect Weiser and his team will lead State government to ensure that we serve the people of Colorado, working to make their lives better, and together, we meet opportunities and challenges with creativity, collaboration, and compassion. His commitment to serve as the People’s Governor means that he and his team will have a sustained focus on how to make Colorado safer, more affordable, more sustainable, and a great place to live, build a business, and raise a family.

We Have Strong Core Values

Our core values drive our actions. We are: 1) principled, maintaining the highest ethical standards, acting with integrity, and operating transparently; 2) public servants, who are always ensuring our work is not about us, but instead is about improving the lives of the people of Colorado; 3) innovative, by seeking to solve problems creatively and operate with a continuous improvement mindset; and 4) "better together," by working to support each other as a team and collaborate effectively.

Department Information

The Colorado Division of Insurance (DOI) regulates the insurance industry in Colorado. Its oversight covers health, auto, homeowners, life, and title insurance, as well as pre-need funeral contracts, and it enforces the Colorado insurance laws that regulate the bail bonding industry.

The division is an information resource for Coloradans and helps people understand their insurance. It answers consumers’ questions, provides education about insurance, and investigates consumer complaints so that people receive the benefits they have paid for. The division also regulates and monitors insurance companies and agents to make sure they follow state and federal laws. It monitors the financial health of Colorado-based insurers and reviews premiums, policy benefits, and companies’ marketing, underwriting, and claims practices. Its aim is a regulatory environment that keeps the marketplace competitive and gives consumers better access and choices.

The division is part of the Department of Regulatory Agencies. The Insurance Commissioner serves as its chief executive and brings together consumers, the insurance industry, and other stakeholders to create an inclusive, firm, and fair regulatory approach to all lines of insurance, including auto, health, homeowners, life, property and casualty, title, and workers’ compensation.

Department: Office of the Governor; Department of Regulatory Agencies, Division of Insurance

Position Title: Insurance Commissioner

Summary of Functions

The Insurance Commissioner is the Chief Executive Officer of the Colorado Division of Insurance. The Insurance Commissioner oversees the administration, programs, and strategic plan of the division and is accountable for the consistent achievement of its mission and objectives. The role regulates Colorado’s insurance market so that coverage is available, carriers remain solvent, and consumers are treated fairly. The Commissioner licenses carriers and producers, examines companies for solvency and market conduct, and adopts the rules and bulletins that govern Colorado’s insurance market. The Commissioner also enforces state protections against surprise medical billing and the cap on costs for lifesaving medications such as insulin.

Essential Duties and Responsibilities

• Oversee and manage the division’s operations and ensure alignment with the division’s goals, the Governor’s initiatives, and the expectations of stakeholders
• Direct and oversee the division’s budget and ensure fiscal management that operates within the approved budget, makes full use of available resources, and keeps the organization in a positive financial position
• Build and cultivate a high-performing team through effective leadership focused on recruiting and retaining top talent and providing guidance, coaching, and development to direct reports
• Issue certificates of authority to insurance companies that comply with Colorado law and license carriers and producers
• Enforce recordkeeping and legal compliance for regulated entities
• Conduct examinations and investigations of insurance companies and adopt insurance rules and bulletins
• Review carrier rates and policy forms and conduct market conduct examinations
• Enforce surprise billing protections and the cap on costs for lifesaving medications, including insulin
• Represent Colorado in the National Association of Insurance Commissioners and the multistate forums in which national insurance standards are set
• Engage insurance carriers and trade associations, agents and brokers, consumer advocacy organizations, and reinsurance markets
• Keep the permanent record of proceedings and prepare the annual statement of company filings
• Brief the Governor’s Office on all relevant policy issues arising from state and federal legislative activities
• Build a good relationship with the General Assembly and serve as the point person for directing the division’s response to proposed legislation that may affect its operations

Organizational Relationships

Organizational Relationships: Department of Regulatory Agencies; Attorney General on fraud referrals; National Association of Insurance Commissioners; Consumer Insurance Council, an advisory body to the Commissioner; Department of Health Care Policy & Financing on the Colorado Option; Prescription Drug Affordability Board; Prescription Drug Affordability Advisory Council

The following minimum qualifications are required by Colo. Rev. Stat. § 10-104-1 to be eligible for appointment as Insurance Commissioner::

• Must be well versed in insurance
• Must be registered to vote in the State of Colorado
• May not have a pecuniary interest in any insurance company or agency directly or indirectly other than as a policyholder.

Education/Experience

• A bachelor’s or advanced degree in business, finance, economics, law, public administration, actuarial science, or a closely related field
• Ten or more years of progressive leadership experience in business, government, law, or accounting
• Five or more years of professional executive management experience that includes setting goals and objectives and managing a budget to achieve them
• Five or more years of experience fostering effective and efficient process improvements for an organization of twenty-five or more employeesExperience building relationships with a diverse range of stakeholders with varying perspectives and interests
• Familiarity with the insurance industry

Preferred Qualifications

• Demonstrated fluency in insurance regulation, actuarial analysis, and consumer protection
• Working knowledge of health insurance markets, including surprise billing and prescription drug cost protections
• Familiarity with issues relating to homeowners insurance affordability and availability
• Proven ability to build relationships with consumer groups and the insurance industry and create a fair, level regulatory environment

Conditions of employment

Applicants must pass a thorough background check prior to employment and reside in Colorado once employed

Benefits

The State of Colorado offers a competitive benefits package to permanent employees:

• PERA retirement benefits including PERA Defined Benefit Plan, PERA Defined Contribution Plan, plus 401K and 457 plans
• Medical, Dental, and Vision insurance coverage
• Automatic Short-Term and Optional Long-Term Disability Coverage
• Life and AD&D Insurance
• Flexible Spending Accounts (FSAs)
• Family Medical Leave Act (FMLA) job protection and State of Colorado Paid Family Medical Leave (PFML)
• 11 Paid Holidays Annually and Accrued Annual and Sick Leave
• Variety of discounts on services and products available through the State of Colorado's Work-Life Employment Discount Program

To learn more about State of Colorado benefits visit: https://www.colorado.gov/dhr/benefits.

ADAAA Requests

The State of Colorado is committed to the full inclusion of all qualified individuals. As part of this commitment, our office will assist individuals who have a disability with any reasonable accommodation requests related to employment, including completing the application process, interviewing, completing any pre-employment testing, participating in the employee selection process, and/or to perform essential job functions where the requested accommodation does not impose an undue hardship. If you have a disability and require reasonable accommodation to ensure you have a positive experience applying or interviewing for this position, please direct your inquiries to our ADAAA Coordinator at [e-mail].

We believe that diverse teams produce better results and encourage people of a variety of backgrounds and qualifications to apply.