Preferred Qualifications Minimum Qualifications
- A bachelor's degree or higher (JD preferred) and at least 5 years of experience in the insurance or financial services industry;
- General familiarity with insurance regulation and New York Insurance Law;
- Superior written and oral communication skills;
- Strong analytical skills;
- Strong project management skills, including experience managing many time-sensitive, complex projects simultaneously.
Appointment MethodThis is an appointment to a position in the exempt jurisdictional class. As such, the incumbent of this position would serve at the pleasure of the appointing authority.Duties DescriptionThe New York State Department of Financial Services seeks to build an equitable, transparent, and resilient financial system that benefits individuals and supports business. Through engagement, data-driven regulation and policy, and operational excellence, the Department and its employees are responsible for empowering consumers and protecting them from financial harm; ensuring the health of the entities we regulate; driving economic growth in New York through responsible innovation; and preserving the stability of the global financial system.BenefitsThe Department of Financial Services is seeking candidates for the position of Assistant Chief in the Pharmacy Benefits Unit. Under the direction of the Deputy Chief for the Health Bureau, the Assistant Chief leads the Pharmacy Benefits Unit, managing the team that regulates the pharmacy benefit manger industry in New York. Duties include, but are not limited to, the following:
- Oversees and manages the day-to-day operations of the Pharmacy Benefits Unit (PBU) and staff which are responsible for licensing and supervising Pharmacy Benefits Managers (PBMs) operating in the state and investigating spikes in drug prices impacting New York consumers and insurance market;
- Manages drafting of regulations and regulatory filings necessary to implement Article 29 of the Insurance Law and other relevant statutes;
- Leads the Pharmacy Benefits Unit to implement the State's pharmacy benefits and drug pricing legislation including creating, obtaining approval for, and executing a phased staffing plan to bring needed experts into the Department;
- Provides guidance and expertise on pharmacy and drug pricing related legislative proposals;
- Oversees design and implementation of new systems to support the PBU, including licensing and supervision of PBMs, tracking spikes in drug prices, and other subject areas addressed by the PBU;
- Coordinates and works collaboratively with the Health Bureau, Executive leadership, other DFS units and bureaus including the Office of General Counsel;
- Participates in outreach to other NYS agencies, regulators in other states, federal partners, and the public on PBM issues; and
- Other duties as assigned.
Additional CommentsPositions located within the New York City metropolitan area, as well as Suffolk, Nassau, Rockland, and Westchester Counties, are also eligible to receive an additional $3,400 annual downstate adjustment.Appointment to this position is pending Governor Appointment's Office and Division of Budget approval.