Open Date: December 10, 2018
Closing Date: Open until filled
Salary Range: Excepted Service, Grade 10 ($121,794 to $182,690 -- likely offer for this position + $150,000)
The Department of Insurance, Securities and Banking (Department) is responsible for executing District of Columbia laws to regulate the insurance, securities and banking industries. The Department exercises statutory authority through licensing, financial audit of companies, rate regulation, servicing of consumer services requests, administration of premium and retaliatory tax laws, investigations, registration of securities offerings and exemption filings, registration of investment firms and advisors and regulating rule making and inspection. The Department proposes regulatory policy, new legislation and revisions to existing laws and regulations.
This position functions as Deputy Commissioner to the Commissioner, responsible for carrying out assignments of extreme sensitivity in all areas of the Department's operations and develops and implements policies used in the enforcement of insurance and securities laws of the District of Columbia and the licensing of insurance companies, agents, solicitors, brokers, securities dealers, investment advisors and agents.
The Deputy Commissioner for Market Operations (DCMO) works under the general supervision of the Commissioner of Insurance, Securities, and Banking. The incumbent is relied upon to function with independence in developing program initiatives, accomplishing broad assignments and sharing in the overall accomplishment of the mission of the Department. The DCMO consults with the Commissioner in the formation and implementation of major policy and programs. Work is evaluated in terms of the effectiveness with which the incumbent provides leadership and in the accomplishment of program goals and objectives.
MAJOR DUTIES AND RESPONSIBILITIES
Master's degree in business management, finance management, accounting, insurance or allied field and seven (7) years of experience in financial management or business management area sufficient to demonstrate that the applicant possesses the knowledge, skills, and abilities required to perform work in the position is desirable. A Ph.D. with five (5) years’ experience in financial management or business management is desirable.
Mastery of financial market transactions, and the implications of risk finance operations within and across industry sectors.
Mastery of market convergence, and familiarity with products and services typically provided by insurance, securities and banking firms.
Ability to identify current and emerging trends in financial operations, which could create market transaction problems, and define regulatory remedies to reduce or eliminate market dislocations.
Ability to develop and conduct market segment studies aimed at determining key drivers for new financial products and services.
Mastery of and skill in problem solving negotiation strategies, and project management to conduct in-depth research and analysis; and mastery of management skill and experience in planning, organizing, and directing team study work, and negotiating effectively with management to accept and implement recommendations.
Demonstrated skills and experience in providing leadership in a managerial capacity and in providing leadership in a team-based environment; and the ability to set appropriate work standards and to hold people accountable for their performance.
Superior oral and written communication skills to develop and present oral and written reports on complex technical problems and issues related to DISB; and to negotiate, build partnerships, and provide authoritative advice on rules, regulations, and/or other related issues.
There is a legal requirement that each new appointee to the Excepted and Executive Service either: (1) be domiciled in the District of Columbia at the time of appointment; or (2) establish District domicile within one hundred eighty (180) days of appointment. The law also requires that Excepted and Executive Service employees maintain District domicile during the period of the appointment. Failure to maintain District domicile during the period of the appointment will result in forfeiture of employment.