09/09/2013 04134

DIRECTOR, BUREAU OF MARKET ACTIONS

DEFINITION: This is responsible managerial work directing and developing policy for the Department of Insurance’s Bureau of Market Actions’ programs.

The employee in this job directs and controls the activities of the Bureau of Market Actions’ market analysis and market actions programs. Work involves managing a statewide regulatory program, which uses examinations, interrogatories, studies and meetings to detect and eliminate unlawful insurance industry or company practices before they adversely impact large numbers of policy holders. Work also includes managing the collection and analysis of data from the insurance industry to detect unlawful or concerning trends in claims settlements, underwriting practices, advertising and billing, and marketing that may adversely impact consumers. Work involves developing department policy and procedures as a result of examination or analysis findings and formulating and recommending new legislation regarding consumer protection initiatives. The employee advocates the department’s position on consumer protection initiatives before the Congress, General Assembly, constituent groups, industry trade organizations and consumer advocacy groups. Work additionally involves managing and participating in the development of model acts and recommending revisions to existing federal and state laws and regulations through the National Association of Insurance Commissioners (NAIC). Supervision is exercised over professional and technical staff. Work is performed independently under the general direction of the Deputy Commissioner and is reviewed through conferences, reports and evaluation of program effectiveness.

EXAMPLES OF WORK: Formulates and recommends policies, legislation, regulations and procedures in all areas of market actions activities.

Manages the program that monitors insurance companies for compliance with commonwealth and federal insurance laws and regulations.

Manages the statewide program regulating insurers to detect and eliminate industry practices that may adversely affect large numbers of policy holders.

Manages the program that analyzes industry data information to identify industry or company trends of concern.

Develops examination and audit protocols that are used to implement the department’s market regulation policies.

Manages the activities of the divisions within the Bureau of Market Actions.

Serves as the department’s expert in market regulation proceedings before the Administrative Hearings Office and Commonwealth Court.

Co-chairs the department’s market regulation committee overseeing the development, implementation and improvement of the market regulation and market analysis programs.

Develops and presents policy statements regarding commonwealth market actions practices for the National Association of Insurance Commissioners, constituent groups, industry trade organizations and consumer advocacy groups.

Directs the collection and analysis of data from insurance companies and agencies to detect trends in claims settlements, underwriting practices, advertising, and billing procedures.

Directs the implementation of policies and procedures to protect consumers, producers, agencies, companies, and the public from illegal, unethical, and fraudulent insurance practices.

Directs the design and maintenance of records systems.

Coordinates multi-state and collaborative market exams of insurers and agencies for possible violations of insurance laws.

Analyzes proposed and newly enacted legislation for impact on bureau operations.

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 ABILIITES: Knowledge of insurance principles and practices.

Knowledge of insurance laws, rules, and regulations.

Knowledge of the principles and practices of accounting and financial auditing.

Knowledge of generally accepted business practices and procedures as they relate to the insurance industry.

Knowledge of supervisory principles and practices.

Ability to interpret data.

Ability to establish and maintain effective working relationships.

Ability to communicate effectively orally.

Ability to communicate effectively in writing.

MINIMUM EXPERIENCE AND TRAINING: Three years as a Chief, Market Analysis Division, Insurance or Market Conduct Examination Chief, Insurance;

or

Eight years of professional experience in market conduct examinations, market analysis, insurance field investigations and enforcement or operational and performance auditing, which includes three years of supervisory experience, and a bachelor’s degree;

or

An equivalent combination of experience and training which includes three years of professional supervisory experience in market conduct, market analysis examination, insurance field investigations and enforcement or operational and performance auditing.