Description

Under the general direction of the Director of Banking and Insurance, this is highly responsible administrative work in coordinating and monitoring the functions of the Licensing unit of the

Division of Banking, Insurance and Financial Regulation.

The Chief Insurance Licensing Examiner is an intermediate-level management and administrative position, primarily responsible for reviewing and analyzing applications for licensure and issuing licenses and certificates of authority to entities under the Divisions purview, including banks,

insurance companies and producers, adjusters, premium finance companies, air ambulance services and representatives, debt management services providers, small loan companies,

mortgage lenders and brokers, money transmitters, non-bank ATMs, and Third-Party

Administrators. Acts in the absence of the Director or Assistant Director to manage the personnel of the Division.

Duties and Responsibilities

Develops and implements policies and procedures for the Licensing unit of the Division of

Banking, Insurance, and Financial Regulation.

Analyzes office methods, systems, and procedures to ensure operational efficiency.

Provides supervision and support to Licensing staff by assigning work, evaluating performance,

and recommending professional training opportunities, such as those offered by the Conference of

State Bank Supervisors (CSBS), Federal Deposit Insurance Corporation (FDIC), National

Association of Insurance Commissioners (NAIC), Federal Financial Institutions Examination

Council (FFIEC), Nationwide Multistate Licensing System and Registry (NMLS), Money

Transmitter Regulators Association (MTRA), and other organizations.

Supervises compliance reviews and renewal license applications submitted by alien, domestic, and foreign insurance companies, premium finance companies, banks, and any other financial services entities seeking to continue conducting business in the territory.

Reviews applications for compliance with statutory licensing requirements, grants final approval,

and issues licensure letters with conditions as necessary.

Manages the examination process for both new and renewal Individual Insurance Producers

(property and casualty, life and health) and Adjusters, ensuring compliance with licensing requirements.

Examines financial statements and documents to ensure compliance with statutory capital and surplus requirements for license renewal. Reviews, accepts, and processes renewal applications,

conducts preliminary assessments of new license applications, and grants final approval for staff-





assigned renewals.

Conducts field inspections of business establishments to ensure adherence to insurance and financial services regulations.

Responds to request for certificate of licensure and any other request for information concerning licensed insurance companies, insurance related businesses, banks, small loan companies and any other institutions regulated by the Division.

Develops and reviews policies, procedures, and administrative directives affecting banks,

insurance, and financial services entities for approval by the Director.

Facilitates cooperation with regulatory authorities outside the Virgin Islands and ensures compliance with statutory guidelines.

Maintains effective communication between the Licensing unit and other divisions regarding license applications and renewals.

Attends conferences, meetings, and hearings as designated by the Director and Assistant Director.

Performs other related duties as required.

Minimum Qualifications

Bachelor's degree from an accredited college or university in Business Administration,

Accounting, or a closely related field, with a minimum of six (6) credits in accounting, and four

(4) years of experience in the regulation of financial institutions or similar regulatory experience,

including two (2) years in a lead or supervisory capacity.

OR

Four (4) years of progressive work experience as an Insurance Licensing Examiner, not below an

Associate’s degree from an accredited college or university including six (6) credits in accounting.

Position Factors

FACTOR 1- KNOWLEDGE REQUIRED BY THE POSITION

Knowledge of banking, insurance, and financial services procedures and laws and rules and regulations in accordance with Title 9, Title 12A, 20 and 22, of the Virgin Islands Code as well as federal laws.

Knowledge in the areas of banking, insurance, securities and/or other financial services.

Knowledge of basic financial information.

Skill of Microsoft Office programs, e.g. Word and Excel.

Ability to travel for purposes of continuing education and to perform field inspections.

Ability to exercise solid leadership, apply regulatory expertise,



and maintain attention to detail to ensure compliance with all licensing and financial regulations.

Ability to understand and apply legislation, rules, and regulations as they relate to the insurance,

banking and other financial services industries.

Ability to supervise the work of subordinates.

Ability to prepare clear and concise written reports.

Ability to communicate effectively and professionally with all persons contacted during the course of work.

Ability to communicate clearly and professionally, verbally and in writing, with all individuals contacted during work.

FACTOR 2- SUPERVISORY CONTROLS

Work is supervised by the Director and Assistant Director who assigns the work. Incumbent performs work independently and is given considerable latitude to manage personnel. Work is reviewed through conferences, discussions, and regularly submitted reports.

FACTOR 3- GUIDELINES

Guidelines include local and federal laws, rules and regulations, procedures and practices governing Title 9, 12A, 13, 20, 22, and 28, governing banking, financial services, insurance practices, procedures, and promulgated rules and regulations.

FACTOR 4- COMPLEXITY

Work involves overseeing the administration of inspections, conducting field inspections,

reviewing and processing applications, renewing licenses for banking and insurance companies,

handling documents for insurance-related businesses and companies, and financial services businesses planning to operate in the Virgin Islands. Incumbent must have a clear understanding of their responsibilities and be familiar with the procedures required to complete assignments effectively.

FACTOR 5- SCOPE AND EFFECT The purpose of the work is to ensure that proper compliance and regulatory process is adhered to and to administer the appropriate documents to conduct business.

FACTOR 6- PERSONAL CONTACTS

Contacts are co-workers, potential applicants, attorneys, resident agents, other governmental entities, businesses, corporations, the public, and civic groups.

FACTOR 7- PURPOSE OF CONTACTS

Contacts are made to advise and provide information to various organizations, the public and licensees with regards to the compliance requirements to conduct business in the insurance,

banking and financial services industries.

FACTOR 8- PHYSICAL DEMANDS

Work is primarily sedentary; however, occasional walking and driving may be required to get from one business to the next to conduct inspections, etc.

FACTOR 9- WORK ENVIRONMENT

Work is performed in an office setting, but some fieldwork is required.

📌 Chief Insurance Licensing Examiner (reposted 4-27-26) (Saint John)
🏢 Government of the Virgin Islands
📍 Saint John