Financial Insurance Supervisor and Risk Specialist (Supervising Risk Management Specialist, SG-31)
Job description
Candidates must meet the minimum qualifications listed below in order to be eligible for appointment.
Non-Competitive: A Bachelor’s Degree and nine years of experience in one or more of the following areas:
- Trading, underwriting, hedging or analyzing risk management of capital markets instruments for financial institutions;
- Audit or regulatory examination of capital markets; or
- Research or teaching experience at a college or university in finance, economics or mathematics, including the study of capital markets instruments, trading and risk management in financial markets.
Substitutions: A Bachelor’s Degree in finance, economics, accounting, mathematics or business administration may substitute for two years of the experience. A Master’s Degree in the same fields may substitute for three years of the experience. A Ph.D. in the same fields may substitute for four years of the experience.
The Department of Financial Services is seeking candidates for the position of Financial Insurance Supervisor and Risk Specialist in Insurance Division. Duties include, but are not limited to, the following:
- Participates in and provides capital markets expertise on examinations conducted by the Department of Financial Services;
- Reviews, evaluates, and summarizes insurers’ investment portfolios’ assets and risk exposures;
- Represents capital markets perspective on the enterprise risk management (“ERM”) component of examinations;
- Reviews Regulation 203 submissions and ORSA fillings;
- Provides capital markets expertise and assessment with respect to insurance companies’ derivative use plan (“DUP”) filings, as required by NYIL Section 1410;
- Provides primary and integral technical support, both quantitative and coding (software programming) in nature, of the Research & Analysis Bureau’s portfolio analysis system (aka “investment templates”);
- Supervises examiner performing desk audits and other examination or related work; and
- Other duties as assigned.
Preferred Qualifications
- Excellent knowledge and understanding of all fixed income securities and derivatives.
- Experience with financial guaranty insurance a plus.
- Strong computer coding skills with hands-on experience performing data analysis in a financial services setting; C++, VBA, SQL, or equivalent, programming skills.
- Institutional investment management or trading experience.
- Knowledge of computer modeling techniques.
- Ability to evaluate, assess, and critique existing valuation and risk management models.
- Bloomberg Terminal experience preferred.
- CFA charter holder a plus.
Positions located within the New York City metropolitan area, as well as Suffolk, Nassau, Rockland, and Westchester Counties, are also eligible to receive an additional $3,026 annual downstate adjustment.
Appointment to this position is pending Governor Appointment’s Office and Division of Budget approval.
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