SALARY: $41,121.84 – $43,203.63 Annually
JOB TYPE: Classified
DEPARTMENT: Office of the Lieutenant Governor STTI
LOCATION: St.Thomas/ St. John, VI
JOB NUMBER: 201903743
OPENING DATE: 07/14/2023
CLOSING DATE: 7/28/2023 11:59 PM Atlantic (Canada)
This position involves the review and analysis of information relating to the licensing of insurance companies, insurance related businesses, banks and small loan companies.
An employee in this class works under the supervision of the Director of the Division of Banks and Insurance and/or other supervisory personnel who assigns duties. The work is reviewed by supervisory personnel through conferences and reports.
Duties and Responsibilities
DUTIES (NOT ALL INCLUSIVE)
- Accepts, reviews and processes applications for new and renewal licenses for Insurance companies, resident and nonresident insurance agents and brokers, solicitors, adjusters, and apprentices.
- Examines and reviews files of licensees to ensure compliance with statutory licensing requi
- Reviews annual statements and/or other financial documents of insurance companies to determine compliance with statutory capital and surplus requirements for renewal of licenses.
- Conducts field examinations of places of business for appropriate licensees to ensure compllance with the insurance
- Administers and corrects insurance licensing examinati
- Responds to requests for letters of good standing, verification of securities and any other requests for information concerning licensed Insurance companies, Insurance related businesses, banks and small loan companies.
- Performs other related duties as assigned by the Director or other supervisory
Bachelor’s Degree in Business Administration or a closely related field, with a minimum of six (6) credits In Accounting;
High School Diploma/General Equivalency Diploma (GED) with four (4) years experience, two of which must be in the insurance related field and six (6) credits in Accounting.
FACTOR 1- KNOWLEDGE REOUIRED BY THE POSITION
- Considerable knowledge about banking and/or insurance practices, procedures and laws.
- Ability to understand and apply legislation, rules, and regulations as they relate to the insurance and banking
- Working knowledge of Microsoft Office programs, g. Word and Excel.
- Ability to prepare clear and concise written
- Ability to communicate effectively and professionally with all persons contacted during the course of
- Ability to communicate ideas, both orally and in
FACTOR 2 SUPERVISORY CONTROLS
Employee works under the supervision of a higher level officer. Work is reviewed through conferences and/or discussions.
FACTOR 3 – GUIDELINES
Guidelines include banking and insurance practices, procedures, laws, and Titles 9 and 22 of the Virgin Islands Code.
FACTOR 4 – COMPLEXITY
The nature of this assignment is to administer examinations, conduct field examinations, review and process applications and renewlicenses for insurance companies, insurance related businesses and documents for companies planning to do business in the Virgin Islands.
FACTOR 5 – SCOPE AND EFFECT
The purpose of this position is to ensure that proper compliance of the regulatory process is adhered to and to administer the appropriate documents to conduct business.
FACTOR 6 – PERSONAL CONTACTS
Contacts are made with co-workers, businesses, corporations, general public and civic groups.
FACTOR 7 – PURPOSE OF CONTACTS
Contacts are made to advise and provide information to various organizations and the general public with regards to requirements to conduct business in the Virgin Islands.
FACTOR s- PHYSICAL DEMANDS
Work is mostly sedentary, however, occasional walking and driving may be required to get from one business to the next.
FACTOR 9 – WORK ENVIRONMENT
Work is performed in an office setting.
Government of the Virgin Islands
United States, Territorywide, U.S. Virgin Islands , 00802