What are the responsibilities and job description for the Chief Economist position at Insurance Fund, State?
- Master’s Degree in economics (microeconomics and/or macroeconomics), finance, statistics, or a similar field; Ph.D. preferred.
- Minimum of ten (10) years of extensive experience in econometrics, economic consulting, or other equivalent economic related regulatory experience.
- Proven track record with statistical and economic analyses, data collection and manipulation, programming, and writing reports.
- Proficiency in using quantitative programs and data analyses tools/methodologies.
- Experience in supervision and management of large-scale cross-functional projects.
- Ability to collaborate with peers, managers and policymakers, and a demonstrated commitment to diversity and inclusion.
- Supervisory and management experience.
Duties Description
The Chief Economist, reporting to the NYSIF Executive Department, will lead a team of analysts to serve as the agency’s leader on all economic policies and analyses. This position will build on the foundation of various agency initiatives and integrate the following into the NYSIF’s operational matrix: lessons learned and identified benchmarks from the COVID-19 pandemic, cybersecurity, ESG (Environment, Science and Governance), and net-zero 2040.
The Chief Economist will explore and utilize changing technologies, artificial intelligence, risk analyses, and data analytics, to continue to expand NYSIF’s role as the key player and policy setter in the New York insurance industry for workers’ compensation and disability insurance.
Specific duties and responsibilities include, but are not limited to:
The Chief Economist will explore and utilize changing technologies, artificial intelligence, risk analyses, and data analytics, to continue to expand NYSIF’s role as the key player and policy setter in the New York insurance industry for workers’ compensation and disability insurance.
Specific duties and responsibilities include, but are not limited to:
- Serve as an internal consultant to the Executive Director & CEO, the Board of Commissioners, and Executive Staff in the development of policies/procedures and a strategic roadmap related to market based economic principles, empirical analyses, and advise with detailed plans how the agency continues to progress forward to meet its expanding statutory mandates/obligations.
- Manage agency operational strategies, related to all external economic factors, through the development and/or updating of econometric/statistical data, criterion, and creation of operational plans including identification of resources (personal and non-personal), technologies, impacts, costs, and risks.
- Evaluate current and future agency initiatives and programs, related to the use of economic business principles, to identify business opportunities, coordinate systems to ensure high ethical standards, assess information and records, track internal and external issues that affect significant agency operations and recommend risk-mitigation measures, and identify and prioritize needed training needs for agency personnel.
- Develop mechanisms for the agency to stay relevant and competitive with its private sector peers and competitors, to ensure the agency evolves and adapts to federal/state directives and the needs/expectations of all policyholders, related to all economic market factors and trends.
- Identify and implement national and state-wide best practices, continuous improvement projects and policies/procedures, related to economic modeling.
- Develop, review, analyze, implement, monitor, and report on nation-wide legislative, budgetary and/or insurance initiatives which affect the agency’s economic viability.
- Build, establish and maintain relationships with multiple economic experts/consultants and stakeholder groups, related to various economic factors, including industry advocacy
- Conduct and perform duties/activities, related to all economic activities which leverage the agency and the state to continue to lead the private sector insurance industry in policy areas and the provision of certain products/services.
- Perform the full range of supervisory functions/responsibilities including training and development, evaluations, hiring and discipline, mentoring, skill assessments, etc.
- Handle all other related/germane matters consistent with agency operations, including business process re-engineering, as assigned.
Additional Comments
Candidate must be New York State resident or willing to relocate.
Salary will be commensurate with experience.
NYSIF has a telecommuting program.
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