Sr Insurance Policy Analyst (Risk Management), Insurance Policy - Division Of Supervision And Regulation

Minimum Education

Bachelor's degree or equivalent experience

Minimum Experience

6

Summary

Under limited guidance, develops and implements policies related to the supervision and regulation of insurers within the authority of the Federal Reserve. Conducts special studies and leads or participates in projects relating to insurance supervision and regulation. Advises management on issues related to insurance. Identifies and develops remedies to problems or potential problems with insurers within the jurisdiction of the Federal Reserve.

Duties and Responsibilities

• Develops policy with the Board legal team predicated on requisite research/analysis and in collaboration with other team members. Leads and suggests policy creation or revisions affecting insurers within the authority of the Federal Reserve.
• Presents findings via memoranda, papers, and oral presentations. Provides policy recommendations related to activities of insurers and the insurance industry. Advises senior management of matters of significance affecting supervision of the insurance sector. Considers, and integrates, where appropriate, the input of stakeholders, both internal and external.
• Supports International Association of Insurance Supervisors (IAIS) committee work on capital markets matters across breadth of regulatory framework. Leads special studies and projects relating to supervision or regulation of insurers, or new financial products and activities.
• Gathers data, using either existing information or generating new data through research to uncover problem origins or evaluate current policies and recommend changes. Determines appropriate policy implications and communicates to stakeholders.
• Prepares responses and reports on supervisory or regulatory matters, participates in the preparation of testimony and responses to other inquiries, and advises (the Board, Board members, and) senior management in areas of expertise. Actively participates in policy dialogue with Federal, State and International regulators.
• Serves as a System and Department resource by leading or participating on high-priority projects, work groups or strategic initiatives.
• Demonstrates good judgment and well-reasoned decision making in situations that may involve complex issues, public scrutiny, market reactions, and potentially adversarial circumstances.
• Identifies issues or policy areas to explore, collect and analyze information. Reports findings and proposes new policies as appropriate.

About the Role

The Insurance Supervision and Regulation section performs a broad variety of work related to insurance, and the assigned work for the analyst will depend on their skills and interests. Current thematic areas of focus for the team include trends related to (1) the availability and affordability of property insurance and (2) life insurers' evolving investment portfolios and usage of reinsurance.

This position may also have responsibilities related to the supervision of depository institution holding companies significantly engaged in insurance activities. These responsibilities could include:

• Engaging proactively with examination teams and Reserve Bank management
• Overseeing the execution of supervisory plans and the conformance with policies and procedures
• Gaining an in-depth knowledge of assigned supervised firm(s)
• Participating in the examination of supervised firms

FR-27: A bachelor's degree in actuarial science, economics, finance, accounting, law, or a related field and a minimum of six years of related experience

FR-28: A bachelor's degree in actuarial science, economics, finance, accounting, law, or a related field and a minimum of eight years of related experience

Required Skills/Knowledge

• Demonstrated subject matter expertise in insurance topics
• Ability to convey complex information clearly and concisely, both verbally and in writing
• Ability to adapt, build rapport, and view problems and solutions from multiple perspectives
• Strong learning agility, teamwork, and collaboration skills

Preferred Skills/Knowledge

• Relevant credentials (actuarial, accounting, financial analysis, law, or risk management)
• Demonstrated research and quantitative data analysis skills (e.g., R, STATA, SQL, etc.)

Notes:

• This position requires travel. For most analysts, travel is about a week per quarter, but could be as high as 25% of days, domestically or internationally, depending on the assignments.
• This position is located in Washington DC and will require on-site presence four times per month and as business needs require.
• A writing assessment will be administered during the interview process.