Insurance Regulatory Analyst Director

Job Code: 32001231
Salary Grade: NC24
Revision Date: 06/2018

Class Concept

This is managerial and administrative work managing and directing a division within the Department of Insurance. Positions are responsible for determining that regulated entities are in compliance with applicable laws and regulations, resolving complex and/or controversial issues, recommending new legislation or revisions to existing legislation, developing policies, programs and procedures to facilitate division operations, determining what, if any, regulatory action is needed and administering needed actions. Positions negotiate with officials from insurance companies, trade organizations, agents and other regulated entities to resolve a variety of issues.

Positions direct divisions responsible for the evaluation, and approval of rate, rule, and policy form filings by insurance companies; or, analysis of premium and loss statistics for all types of insurance; or conducting on-site examinations of companies' business practices; or, research of complex and detailed issues pertaining to laws and regulations, company and or agent/agency operations and insurance theory; or investigating and resolving complaints from consumers and health care providers regarding insurance policies and transactions; or the independent medical review of health plan coverage denials.

Positions plan and direct the activities of their divisions, assist in establishing insurance policies and procedures for the Department, and apply insurance laws and regulations. Positions work closely with other Division Directors within the Department to ensure consistency in the application of department rules and regulations. Positions oversee all personnel functions including assigning and adjusting staff workloads, etc. Positions may oversee vendors providing electronic systems or performing work on behalf of the Department.

Positions supervise lower level analysts and office support personnel, assigning and supervising their work and appraising their performance. Positions report to a senior level executive manager and may speak on behalf of the Department if necessary. Work is reviewed through conferences, reports, and a general review of completed work assignments. Work may include other duties as assigned.

Recruitment Requirements

Knowledge, Skills, and Abilities

• Comprehensive knowledge of insurance principles and practices and department regulation.
• Comprehensive knowledge of North Carolina General Statutes, North Carolina Administrative Codes, and North Carolina insurance laws and regulations; and NAIC guidelines.
• Comprehensive professional skill and/or knowledge in the concepts related to insurance companies and other regulated entities.
• Thorough knowledge of mathematics, including the fundamentals of statistics.
• Comprehensive knowledge of insurance rate-making procedures and practices or policy contract and manual provisions and ability to interpret and apply provisions of the insurance laws to analyze information and evaluate the impact of company policies/procedures and practices, rate filings or premium calculations.
• Demonstrated ability to make well-informed decisions utilizing a high degree of judgment based on insurance expertise.
• Demonstrated ability to communicate effectively both verbally and in writing with the general public, Department management and management of the regulated entities.
• Demonstrated ability to effectively manage and supervise staff and plan and direct all fiscal, personnel and program operations of a division.
• Possession of insurance designation appropriate to specialty area.

Minimum Education and Experience

Bachelor's degree in business or economics or a related program from an appropriately accredited institution and seven years of experience in policy and rate examinations, underwriting, claims adjusting work, or financial/marketing analysis, including three years of supervisory experience; or an equivalent combination of training and experience.