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Chief Captive Analyst

  • 509310
  • PHOENIX
  • REMOTE OPTIONS
  • DEPT OF INSURANCE AND FINANCIAL INSTITUTIONS
  • Full-time

DEPARTMENT OF INSURANCE AND FINANCIAL INSTITUTIONS

The Department of Insurance and Financial Institutions licenses, monitors, investigates, examines, and ensures the safety and soundness of, regulated entities. The Department also helps resolve consumer complaints against financial-services and insurance entities; takes action in response to violations of law; encourages competition, innovation, and economic development; collects taxes and assessments that support State government operations; combats auto theft and insurance fraud through public awareness campaigns, and funding for law enforcement and dedicated prosecutors.

Our mission is to help Arizonans receive the benefits and protections to which they are legally entitled by enforcing insurance and financial institution laws and by providing information and assistance and to combat vehicle theft.

Chief Captive Analyst

Job Location:

100 North 15th Avenue

Phoenix, Arizona 85007

Posting Details:

Annual Salary Range:  $90,000 - $100,000

Grade: 25

This position will remain open until filled

Job Summary:

The Department of Insurance and Financial Institutions supports an innovative and flexible workplace by offering work from home as an alternative work schedule arrangement whereby an employee is approved to work at home for part of that employee’s regular workweek.

Most DIFI employees do not have an assigned physical workspace or work location and will work from home a majority of the time and only come into the office as needed.

The Chief Captive Analyst leads the supervision and development of the captive insurance program, including licensing, financial analyses, and solvency monitoring as required by law and applicable accreditation standards. The Chief Captive Analyst performs, or reviews the performance of, analyses of financial and other filings made by licensed Arizona captive insurers and captive risk retention groups, reviews and approves specific financial transactions and conducts analysis and recommendations pertaining to captive license applications and business plan changes.

Responsibilities of the Chief Captive Analyst include supervisory review of analytical work performed by primary analyst(s) as well as appropriate and necessary direct review of annual and quarterly financial statements; audited financial reports; holding company system registration statements; reinsurance agreements; material transactions with affiliates; extraordinary dividend/ distribution requests; proposed withdrawals and redomestications.

The Chief Captive Analyst supervises the performance and work product of one or more staff and supports policymaking, legislative efforts, and development of regulations, where appropriate.

The Chief Captive Analyst provides periodic reports to the assistant director, deputy director or director as directed.

Job Duties:

• Oversees licensing, analysis, and other regulation of captive, foreign and domestic insurers; communicate verbally and in writing with the management of captive insurers regarding license applications, business plans, redomestications, financial solvency and other regulatory concerns; recommend administrative actions for captive insurers that do not comply with standards and requirements prescribed by law

• Develops strategic and action plans, performance measures, automated systems, policies, procedures and forms, to efficiently and effectively attract, license and oversee captive insurers; recommend modifications to Arizona law, Administrative Code and policy concerning captive insurance. Supervises, trains and coaches subordinate staff as necessary

• Communicates with interested persons the benefits of establishing in, or relocating to Arizona, captive insurance companies as a means to economically cover their risks; develop and implement marketing plans and promotional material (including identifying, advocating and promoting resources and benefits available to businesses that establish captive insurers); regularly travel within and outside Arizona

• Coordinates regulatory efforts with other insurance regulators and other Arizona state agencies; participates in national regulatory and industry meetings, committees, task forces and working groups

• Summarizes and communicates results of regulatory oversight of captive insurers to the assistant director (AD), deputy director (DD) and, as appropriate, to the director; conduct research, compile data and produce periodic and ad hoc reports on financial condition and regulation of captive insurers; respond to information requests from AD, DD, director, other state insurance departments and other federal or state agencies

Knowledge, Skills & Abilities (KSAs):

Knowledge:

• Knowledge of laws, rules, standards, policies, and procedures in regulatory oversight of captive insurers

• Knowledge of supervising, coaching, leading, motivating, training and assisting professional employees

Skills:

• Skills in computerized word processing, spreadsheets, database and auditing software, online meeting and communication systems, and other computer applications

• Skills in reading, typing, ten-keying, alphabetizing, organizing information numerically and the use of standard office equipment

• Skills in research, analysis, synthesize, compile and effectively report on complex financial data

• Skills in diplomatically, clearly and effectively communicate verbally and in writing

Ability:

• Ability to effectively plan, assign, coordinate, monitor and evaluate activities of others to ensure activities lead to achievement of organizational goals

• Ability to plan, analyze and write cogent policies, procedures and guidelines that, when used, lead to achievement of organizational goals

• Ability to detect trends, conditions and practices that might affect the financial condition of a captive company

• Ability analyze situations and information accurately and to adopt appropriate course of action

• Ability to examine complex financial data and draw logical conclusions

• Ability to apply laws and standards appropriately when evaluating data

Selective Preference(s):

• Bachelor's degree or post-graduate degree with coursework in accounting, finance, business, management, economics or similar field

• Experience in insurance industry or insurance regulation

• Experience in regulatory compliance and enforcement

Pre-Employment Requirements:

• Experience in insurance industry or insurance regulation

• Experience in regulatory compliance and enforcement

Benefits:

The State of Arizona offers a comprehensive benefits package to include:

• Optional employee benefits include short-term disability insurance, deferred compensation plans, and supplemental life insurance

• Life insurance and long-term disability insurance

• Vacation plus 10 paid holidays per year

• Health and dental insurance

• Retirement plan

• Sick leave

For a complete list of benefits provided by The State of Arizona, please visit our benefits page

Retirement:

• Positions in this classification participate in the Arizona State Retirement System (ASRS)

• Please note that enrollment eligibility will become effective after 27 weeks of employment

Contact Us:

• If you have any questions please feel free to contact Vince Gosz at vincent.gosz@difi.az.gov

ARIZONA MANAGEMENT SYSTEM (AMS)

All Arizona state employees operate within the Arizona Management System (AMS), an intentional, results-driven approach for doing the work of state government whereby every employee reflects on performance, reduces waste, and commits to continuous improvement with sustainable progress.  Through AMS, every state employee seeks to understand customer needs, identify problems, improve processes, and measure results.  
State employees are highly engaged, collaborative and embrace a culture of public service.

The State of Arizona is an Equal Employment Opportunity Employer.