Insurance Program Manager - Captive Insurance

Our mission at the Connecticut Insurance Department (CID) is consumer protection. The Department carries out its mission by enforcing state insurance laws to ensure policyholders are treated fairly, by providing assistance, outreach and education to help consumers make sound choices and by regulating the industry in a fair and consistent manner that fosters market competition for availability of insurance.

The CID, located at 153 Market Street, Hartford, CT is recruiting for an Insurance Program Manager - Captive Insurance position. We are easily accessible for all commuters, we are conveniently located in the Downtown area of Hartford.

This position is in the Captive Insurance Unit and is full-time, (40) hours week Monday - Friday. This position may be required to work beyond the normal work schedule and/or attend meetings after normal work hours.

Discover the opportunity to:

• Develop and oversee and implement programs and activities related to regulation of captive insurers and risk retention groups in the alternative risk market;
• Manage a professional team of Insurance Examiners in planning financial examinations, analyzing and evaluating new and existing captive insurers and risk retention groups in the alternative risk market.

NOTE: Interviews will be limited to candidates whose experience most closely meet the preferred requirements of the position.

In order to be considered for this job opening, you must be a current State of CT employee of the Department of Insurance, who has permanent state status*, and meet the Minimum Qualifications as listed on the job opening.  You must specify your qualifications on your application. 

*For employees in the classified service, permanent status is obtained after successful completion of a working test period.  For employees in the unclassified service, permanent status is obtained after serving in a position for at least six months (full-time or full-time equivalent).

You will be unable to make revisions once you submit your application into the JobAps system. Individuals considered for interview may be required to submit additional documentation supporting their qualification(s) for this position. These documents may include performance reviews, attendance, supervisory references, college transcripts, licensure, etc., You do not have to attach these documents to your application submission.

This posting MAY require completion of additional referral questions (RQs) which will be sent to you via email after the closing date. Please regularly check your email for notifications. You must reply to the deadline indicated on the notification or you may be disqualified from consideration.

Should you have questions pertaining to this recruitment, please contact CID's Human Resources Department at cid.hr@ct.gov, (860) 297-3936.

In the Department of Insurance, this class is accountable for directing the Captive Insurance Division to evaluate-to-qualify, license, regulate and examine captive insurers and risk retention groups in the alternative risk market.

Directs the staff and operations of the Captive Insurance Division; coordinates, plans and manages division activities; formulates program goals and objectives; develops or assists in the development of related policy; interprets and administers pertinent laws; evaluates staff; prepares or assists in preparation of the division's budget; maintains contacts with individuals both within and outside of the division who might impact on division activities; trains insurance examiners; plans financial examinations and supervises insurance examiners in the analysis and evaluation of new and existing captive insurers and risk retention groups in the alternative risk market; provides final review of examinations work papers and reports; interprets and evaluates reinsurance programs and actuarial studies; meets with potential captive applicants including Fortune 500 Company Chief Financial Officers and risk managers; makes recommendations regarding potential merger and acquisition of the insurers; maintains financial analysis of captive insurers in accordance with Connecticut state law and the National Association of Insurance Commissioner (NAIC) accreditation standards; represents the agency and performs public speaking at various industry conferences and forums; may coordinate the orderly liquidation and dissolution of captive insurance companies; may represent the agency at NAIC meetings; performs related duties as required.

Considerable knowledge of and ability to apply management principles and techniques; considerable knowledge of relevant state and federal laws, statutes and regulations; considerable knowledge of financial and business operations, Generally Accepted Accounting Practices (GAAP) accounting, statutory accounting and examination financial procedures; knowledge of the different types of reserving methods used by insurers; ability to analyze actuarial feasibility studies, reinsurance agreements and various investment products; ability to analyze and respond to complex problems arising in the financial, operational and legal functions of business organizations; ability to supervise, counsel and train staff; considerable interpersonal skills; considerable oral and written communication skills.

Nine (9) years professional experience in insurance regulation or the insurance industry, of which five (5) years must have been in the alternative risk insurance market. Note: Alternative risk insurance market refers to a number of risk funding techniques (such as self insurance, captive, paid loss plans, insurance purchasing groups and risk retention groups) or an entity that provides coverage or services outside the realm of that provided by most traditional property and casualty insurers.

Two (2) years of the General Experience must have been in a lead capacity over professional financial or legal staff.

1. College training may be substituted for the General Experience on the basis of fifteen (15) semester hours equaling one-half (1/2) year of experience to a maximum of four (4) years for a Bachelor's degree.
2. A Master's degree in accounting, business, health care management, insurance, finance, economics or actuarial science or a law degree may be substituted for one (1) year of the General Experience.
3. A designation of Certified Public Accountant (CPA), Certified Financial Examiner (CFE), Chartered Life Underwriter (CLU), or Chartered Property and Casualty Underwriter (CPCU) may be substituted for one (1) additional year of the General Experience.

Preference will be given to candidates who possess:

• Experience in handling difficult situations while maintaining a high level of professionalism;
• Experience supervising and providing guidance to staff;
• Experience in interpretation of reinsurance programs and actuarial studies;
• Experience in mergers and acquisitions and/or liquidation and dissolution of captive insurers  and other participants in the alternative risk market;
• Experience making presentations, chairing or serving on committees/taskforces;
• Detail-oriented.

Incumbents in this class may be required to travel.

AN AFFIRMATIVE ACTION/EQUAL OPPORTUNITY EMPLOYER

The State of Connecticut is an equal opportunity/affirmative action employer and strongly encourages the applications of women, minorities, and persons with disabilities.