Salary: $100,000.00 - $120,000.00 AnnuallyLocation : Charleston County, SCJob Type: FTE - Full-TimeJob Number: 168953Agency: Department of InsuranceOpening Date: 11/18/2024Closing Date: 12/31/2024 11:59 PM EasternResidency Requirement: YesClass Code:: AH55Position Number:: 60025947Normal Work Schedule:: Monday - Friday (8:30 - 5:00)Pay Band: Band 9Hiring Range - Min.: $100,000.00Hiring Range - Max.: $120,000.00Opening Date: 09/11/2024EEO Statement: Equal Opportunity EmployerAgency Specific Application Procedures:: THIS POSITION HAS BEEN REPOSTED. PREVIOUS APPLICANTS NEED NOT RE-APPLY AS ALL QUALIFIED APPLICATIONS WILL BE CONSIDERED. A RESUME WILL NOT BE ACCEPTED NOR REVIEWED TO DETERMINE IF AN APPLICANT HAS MET THE QUALIFICATIONS FOR THE POSITION. If you meet the requirements of the position and would like to be considered, you must submit a state application online. Please complete the state application to include all current and previous work history and education. Supplemental questions are considered part of your official application. Any misrepresentation will result in your disqualification from employment. The quality of the application presented (completeness and accuracy as well as grammar and spelling) will be considered prior to the offer of an interview. An offer of employment is contingent upon a satisfactory criminal background check. Applications will be accepted until 11:59 on the state closing date.Veteran Preference Statement: South Carolina is making our Veterans a priority for employment in state agencies and institutions.Job Responsibilities THIS POSITION HAS BEEN REPOSTED. PREVIOUS APPLICANTS NEED NOT RE-APPLY AS ALL QUALIFIED APPLICATIONS WILL BE CONSIDERED. Mission Statement:The mission of the State of South Carolina Department of Insurance is to protect the insurance consumers, the public interest, and the insurance marketplace by ensuring the solvency of insurers; by enforcing and implementing the insurance laws of the State; and by regulating the insurance industry in an efficient, courteous, responsive, fair, and equitable manner. For more information about working at the SC Department of Insurance, please visit This position is located in the Charleston Office of the Financial Regulation & Solvency's Captives Division.Job PurposeUnder the general supervision of the Deputy Director for Financial Regulation and Solvency, the Captives Director is responsible for ensuring South Carolina maintains, and enhances, its reputation as a high-quality domicile for captive insurance companies by continuously improving the Captive Insurance Division. Coordinating with the Department's Chief Financial Analyst (CFA) as needed, the Captives Director is responsible for the overall performance and development of captive analyst staff, particularly with respect to analysis and ongoing monitoring of non-RRG captive insurance companies. This position requires strategic planning to focus the program area's resources, establish priorities, and strengthen operations to achieve objectives. The Captives Director oversees promotional strategy, execution and ongoing monitoring of results. Represents the Department at various captive insurance conferences and similar functions.Job Functions Meets with parties interested in domiciling a captive insurance company in South Carolina and consults with national and global captive industry professionals, associations, regulators, and service providers to communicate Department policies, practices, procedures, and requirements to attract captive companies to the State. Visits and communicates with industry stakeholders.Directs and oversees the new company application and licensing process. Ensures applications for new companies are processed efficiently and in accordance with applicable South Carolina statutes and regulations. Reviews the plan of operation, feasibility study, financial proformas, and contracts for insurance or reinsurance. Identifies and contracts with appropriate outside professionals required to opine on proposals. Recommends new captive companies for licensure and drafts approval letters with appropriate stipulations, requirements, and conditions to receive Certificate of Authority. Maintains written licensing procedures.Supervises further development and maintenance of dedicated captives website and other promotional materials. Meets with representatives and leaders of the industry to ensure proper communication, involvement, and support for the strategic goals of the Captive Insurance Division and represents the Department at industry conferences and similar meetings. Follows up on direct prospect leads and consults with national and global captive industry professionals, associations, regulators and service providers to communicate Department policies, practices, procedures, and requirements to attract captive companies to the State.Monitors and oversees the captives market and keeps the Department abreast of emerging issues relevant to captives. Recommends program changes and/or legislative changes in response to emerging issues.Supervises and operates the Department's Charleston Office.In coordination with the Department CFA as needed, supervises and ensures the quality of the financial analysis process of non-RRG captives. Ensures that analysis is conducted in accordance with Department procedures. Determines whether additional regulatory actions are warranted with respect to identified issues and corresponds as appropriate with captive managers, service providers, and Department staff as necessary. Ensures that analysis staff ascertain that non-RRG captives are in compliance with applicable state laws, and regulations and Department stipulations.Together with the Deputy Director and CFA, ensures that all business plan changes are reviewed in a thorough, efficient and timely fashion and that any issues identified and review results are clearly and promptly communicated to captives, captive managers and other representatives. Minimum and Additional Requirements Successful applicant must have a bachelor's degree and relevant program management experience, including at least seven (7) years' experience managing a program or business unit. Proficient in MS Word, Excel, and other related tools.Outstanding oral and written skills are required.Overnight travel required.Employee must be independent and able to work with limited direction from the Deputy Director for Financial Regulation and Solvency. Preferred Qualifications Experience in reinsurance or alternative markets preferred. Insurance-related and financial analysis designations strongly preferred. Additional Comments Educational Credentials: Applicants indicating college credit or degree(s) on the application will be required to submit a sealed, certified copy of the transcript(s) prior to beginning employment. Failure to produce an official, certified transcript will result in any conditional offer of employment being rescinded. Equal Opportunity Employer:It is the policy of the South Carolina Department of Insurance to provide equal employment opportunities to all job applicants and employees without regard to their race, color, religion, national origin, sex (including, but not limited to, pregnancy, childbirth or related medical conditions and lactation), disability or age.Veteran Preference Statement:South Carolina is making our Veterans a priority for employment in state agencies and institutions. The Department of Insurance offers an exceptional benefits package for FTE positions that includes:
- Health, Dental, Vision, Long Term Disability, and Life Insurance for Employee, Spouse, and Children
- 15 days annual (vacation) leave per year
- 15 days sick leave per year
- 13 paid holidays
- State Retirement Plan (pension plan option) and Deferred Compensation Programs
- Employee Assistance Program
- Free counseling sessions for employees and household members
- Free legal counseling
- Free financial counseling
Flexible Work Schedules- Compressed work weeks
- Part-time telecommuting
- Flex-time
Free Gym AccessGrowth Opportunities- Certifications/designation program allowing for salary increases and bonuses
Infants at Work Program- Employees eligible to bring their newborn/infant to the workplace
Free ParkingBenefits for State EmployeesThe state of South Carolina offers eligible employees generous benefits, including health and dental insurance; retirement and savings plan options; and paid vacation and sick leave. Plus, work-life balance programs such as telecommuting and flexible work schedules are available to employees of some state agencies. Insurance BenefitsEligible employees may enroll in health insurance, which includes prescription coverage and wellness benefits. Other available insurance benefits include dental, vision, term life insurance, long term disability and flexible spending accounts for health and child care expenses. Retirement BenefitsState employees are also offered retirement plan options, including defined benefit and defined contribution plans. Additionally, eligible employees may elect to participate in the South Carolina Deferred Compensation Program, which is a voluntary, supplemental retirement savings plan offering 401(k) and 457 plan options. Workplace BenefitsState employees may also be eligible for other benefits, including tuition assistance; holiday, annual and sick leave; and discounts on purchases, travel and more. Note: The benefits above are available to most state employees, with the exception of those in temporary positions. Employees in temporary grant and time-limited positions may be eligible for all, some or none of these benefits as benefits are associated with each position type. For these positions, contact the hiring agency to determine what benefits may be available.