05/29/2012 04060

CHIEF, MARKET ANALYSIS DIVISION, INSURANCE

DEFINITION: This is management work directing the Market Analysis Division in the Pennsylvania Insurance Department.

The employee in this job plans, directs and evaluates the activities of examiners involved in conducting various types of market analysis projects. Work includes directing the collection and analysis of insurance industry data related to claims processing, underwriting practices, consumer complaints, law suits, loss ratios, defense costs, Insurance Regulatory Information Systems ratios, and premium fluctuations to detect trends or practices that could be of regulatory concern. Work also includes supervising the collection and analysis of market conduct annual statement data from insurance companies; supervising and conducting industry surveys on various insurance related issues to develop trend analyses; monitoring insurance related activities on the internet; and monitoring regulatory compliance with respect to Commonwealth insurance laws and regulations. Work also involves chairing the Insurance Department’s Market Regulation Committee and working with the Director, Bureau of Market Actions to identify insurance companies and regulatory issues for presentation to the Market Regulation Committee. Work is performed under the general supervision of the Director, Bureau of Market Actions and is reviewed for soundness of findings through reports, correspondence, and conferences.

EXAMPLES OF WORK: Prepares detailed written reports and presents market analysis findings to senior staff.

Prepares findings for Market Regulation Committee reports and presents findings at bimonthly committee meetings.

Ensures that market analysis reviews are completed as assigned.

Develops the annual analysis of market conduct annual statements.

Reviews market analysis reports prepared by examiners for completeness, accuracy, and compliance with department policy.

Performs random sampling of insurance company files.

Announces and conducts insurance industry data calls to gather market information.

Analyzes and reports results of data calls to appropriate subordinate staff and the Director, Bureau of Market Actions.

Develops and presents consumer education material to insurance industry groups, insurance companies and consumers.

Conducts training sessions for insurance industry representatives based upon results of market analysis reviews.

Performs the full range of supervisory duties.

The employee in this job may participate in the performance of subordinates’ work consistent with operational or organizational requirements.

Performs other related work as required.

REQUIRED KNOWLEDGES, SKILLS, AND ABILITIES: Knowledge of auditing principles and practices related to examining insurance company documents and records.

Knowledge of the operational principles and practices of insurance companies.

Knowledge of insurance claims practices and procedures.

Knowledge of insurance related data collection and analysis techniques.

Knowledge of scientific sampling methods.

Knowledge of generally accepted insurance business practices and procedures.

Knowledge of the content, format and use of insurance company forms, records, and documents.

Knowledge of insurance laws, rules and regulations.

Ability to read and interpret written materials.

Ability to analyze and interpret insurance laws and regulations.

Ability to maintain effective working relationships.

Ability to communicate effectively orally.

Ability to communicate effectively in writing.

MINIMUM EXPERIENCE AND TRAINING: Two years as an Insurance Market Conduct Examiner 2;

or

Five years of professional insurance market conduct examination experience and a bachelor’s degree;

or

Five years of professional insurance investigation experience and a bachelor’s degree;

or

An equivalent combination of experience and training.