Insurance Regulatory Manager

  • Insurance Regulatory Manager
  • What will I be doing?
  • Do I qualify?
  • Can I be successful?
  • Benefits
  • How do I apply?
Band Class Number Annual Salary Range Twice-a-Month Salary Range
1 8128 $41,184.00 – $66,672.00 $1,716.00 – $2,778.00
2 8129 $48,504.00 – $78,732.00 $2,021.00 – $3,280.50
3 8130 $58,224.00 – $94,944.00 $2,426.00 – $3,956.00

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Definition

This is administrative and management work in the direction, planning, analysis and coordination of insurance regulatory programs.

This classification is found in the broadbanded management service. An employee in this class is responsible for directing or assisting in the overall planning, direction and coordination of insurance regulatory services and programs. Positions in this class could be located in a variety of managerial levels. Duties may be in areas such as: market regulation, financial regulation or consumer services or may encompass responsibilities in promoting competition and increasing availability of insurance, protecting the interests of the insurance-buying public, monitoring insurer solvency and combating insurance fraud. Positions have program management and decision-making authority, and usually have policy, planning, budget and/or supervisory responsibilities. Direction is received from a designated administrative superior who reviews work through conferences, reports, and evaluation of operational results; however, the employee is expected to exercise considerable initiative and judgment in planning and carrying out assignments.

Job Duties

Directs or assists in the overall planning, development and administration of the assigned insurance regulatory program; assists in the direction of the development and implementation of departmental planning issues.

Directs or assists administrative personnel in general management aspects of policy development and program planning and coordination as related to assigned responsibilities; assists in the evaluation of the effect of policy and/or organizational changes and new programs.

Directs or assists in the examination and approval of insurance products and marketing practices.

Directs or assists in the review, analysis and approval of operational and financial data provided by insurance entities.

Directs or assists in the resolution of consumer inquiries and complaints.

Directs or assists in the licensure of agents, brokers and insurance entities.

Reviews and/or revises programs in area of responsibility to ensure compliance of operations with laws, regulations, policies, plans and procedures.

Selects, trains, directs and evaluates staff in area of assigned responsibility.

Participates in the development, implementation or interpretation of new or revised program, departmental or legislative initiatives.

Participates in conferences, training sessions and meetings relating to areas of assigned responsibility.

Conducts investigations, institutes special studies, and prepares and/or reviews reports and related information to evaluate existing organizations, policies, procedures, and practices as related to the assigned program.

Participates in the development of budget requests and the monitoring of expenditures according to budget allocations/appropriations and recommends and/or initiates cost saving measures.

Represents and/or serves as a liaison for the assigned area of responsibility; maintains contact, cooperates with, addresses federal, state, local, and community organizations and other interested groups pertaining to the assigned programs.

Negotiates or administers contracts, grants, and cooperative agreements with federal, state, local, and community organizations.

Performs other related work as assigned.

Areas of Interest: 
Administration; Business Regulation, Safety & Inspection; Business Services

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(The following minimum qualifications will determine merit system eligibility.  Allowable experience and education substitutions are provided in italics below the corresponding minimum qualification statement; no other substitutions will be permitted. These minimum qualifications may also be used to evaluate applicants for Missouri Uniform Classification and Pay System positions not requiring selection from merit registers.) (More specific qualifications may be required for particular positions allocated to this class depending on the assigned duties and responsibilities.  This may include specialized and/or additional education, experience, and/or licensure/certification not stated in the minimum qualifications.)

Four years of professional experience in such areas as insurance marketing, regulation, solvency, claims, underwriting, investigations or management of an insurance entity; and graduation from accredited four-year college or university with specialization in business or public administration, insurance, risk management, accounting, finance or closely related areas. (Graduate work in the specified areas may be substituted on a year-for-year basis for a maximum of two years of the stated experience. Additional qualifying experience may be substituted on a year for year basis for the stated education.)

Please note that documentation that supports your eligibility (i.e. transcripts, employment records, etc.) may be required at any time during the application and hiring process. If you do not possess the minimum qualifications, please consider one of many other employment opportunities with the State of Missouri.

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Key Skills

Do you possess the key skills which are considered essential for successful employment in this classification?

Thorough knowledge of state and federal laws, rules and regulations affecting insurance regulation.

Thorough knowledge of insurance entity financial management procedures.

Considerable knowledge of insurance products offered to Missouri consumers.

Considerable knowledge of current insurance principles, practices, issues and theories.

Considerable knowledge of governmental budgeting, fiscal management, grants and contract management.

Considerable knowledge of managerial techniques and administrative practices.

Ability to develop, implement and administer an insurance regulatory program.

Ability to review, analyze interpret and/or prepare federal and state laws, rules, regulations, policies and procedures as related to the assigned program.

Ability to testify as an expert witness.

Ability to establish and maintain working relationships with departmental officials, legislators, staff associates, the general public and others.

Ability to analyze and evaluate policies and operations and formulate recommendations.

Ability to communicate effectively.

Ability to provide leadership and supervision to professional, technical and related program staff.

Ability to manage change, provide program management and achieve results.

Ability to develop short and long-range plans that meet established objectives and contribute to the overall goals and mission of the agency.

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The following link will provide you with general information about State of Missouri employee benefits.

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