Senior Field Examinations Supervisor – Financial Regulation

New York State Department of Financial Services; New York (NY); On-site; USD 137,000 - 167,000; Full time

Job summary

The New York State Department of Financial Services seeks to build an equitable, transparent, and resilient financial system that benefits individuals and supports business. This role oversees field examination units, coordinating with multiple bureaus to ensure compliant and effective investigations and examinations across HMOs, insurers, and related entities.

With a focus on risk prioritization, staff scheduling, and coordination with external consultants, the role emphasizes standard-setting,

Qualifications

• Eleven years of financial services experience with a regulated entity or governmental regulatory entity.
• Experience includes practical and technical knowledge of state, federal and/or international financial services laws, rules and regulations.
• Two years of managerial level experience.

Responsibilities

• Administers the daily functions and supervision of the field examination unit(s) that conduct examinations and investigations of HMOs, Article 29, Article 42, Article 43, Article 47, and other regulated entities.
• Works with Regulatory Units to identify time sensitive and risk sensitive examinations and prioritize examinations.
• Reviews results of pre-exam review and approves the scope of field examinations including critical risk areas.
• Schedules and assigns staff to conduct such examinations.
• Arranges for appropriate internal or external (consultants) expertise to be allocated to the examinations and coordinates communication between the field examiners, regulatory units, actuarial unit, policy/rating units (Albany Health Bureau), Consumer Services Bureau, and Capital Markets.
• Arranges to participate in pre-examination meetings with Department staff from aforementioned bureaus units and company management representatives.
• Establishes and modifies procedural standards for conducting market conduct or combined examinations in compliance with Department Regulations and statutes.
• Apprises field staff of legislative or regulatory initiatives.
• Make visits to examinations of HMOs, insurers, Pharmacy Benefit Managers or other regulated entities to address progress concerns and provide input to Company management and Department staff on conduct of the examination.
• Evaluates subordinate examiners and measures and reviews progress on other ongoing examinations.
• Reviews final drafts of reports on examination, and conducts meetings with Company representatives to finalize report findings, and interface OGC regarding potential fines and accompanying stipulations.
• Assists in the development of Request-for-Proposals and contract selection for external consulting "vendors" used in field examinations.
• Works with the consultants to incorporate their procedures into the examination and report issued thereon.
• Evaluates and implement technology enhancements affecting the examination process and determine training needs of the unit staff, recommends training, and evaluates requests to attend available training.
• Develops, recommends, and/or comments on new legislations, regulation, circular letters or special reports or Department initiatives.
• Conducts examinations of Pharmacy Benefit Managers; and
• Completes all other duties as assigned.

Job 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. This role oversees field examination units, coordinating with multiple bureaus to ensure compliant and effective investigations and examinations across HMOs, insurers, and related entities.

With a focus on risk prioritization, staff scheduling, and coordination with external consultants, the role emphasizes standard-setting,