What are the responsibilities and job description for the License & Compliance Specialist position at State of New Mexico?
18.34 - $29.34 Hourly
38,140 - $61,024 Annually
This position is a Pay Band 55
Posting Details
The OSI enforces New Mexico law on insurance matters, including consumer protections, review of insurance forms and rates for accuracy and fairness, and helps New Mexicans address insurance concerns. We oversee and regulate most kinds of insurance in New Mexico and we license the individuals and agencies that sell insurance in the state.
THIS POSTING WILL BE USED FOR ONGOING RECRUITMENT AND MAY CLOSE AT ANY TIME. APPLICANT LISTS MAY BE SCREENED MORE THAN ONCE.
Why does the job exist?
This position is responsible for handling special projects that consist of reviewing and auditing business entities to make certain they are in compliance with statutes and regulation. Also, verify that business entities that are licensed in New Mexico have affiliations, affiliated with the business entity for the life of the license and to make certain they meet our guidelines. It is also responsible for processing the on line applications, process EFT's and ACH that we receive on a daily basis and maintain the agent licensing email daily. Also, assist with processing of all incoming applications, appointments, renewals, continuing education credits, name changes, address changes, and affiliations both paper and on line for resident and non-resident individuals and business entities who will be writing insurance business in New Mexico. Process checks, ACH, wire and EFT's received for applications, affiliation, name changes, and miscellaneous transactions within 24 hours of receipt. Verification of applicant qualifications through the National Producer Database, Department of Public Safety (DPS), Federal Bureau of Investigations (FBI) and FINRA. Respond to incoming inquires by phone, email, mail or fax. Assist with walk-ins that come to OSI for licenses. Compose correspondence and any other duties that may be assigned by Supervisor and / or Bureau Chief.
How does it get done?
50% - Review business entities to make certain they are not violating statutes and regulations. Review notifications received from the NAIC for business entities that are in violation of New Mexico statutes and regulations regarding their failure to maintain an active license in their state of domicile. This includes utilizing and analyzing information received from ISITE, to determine further action needed against the licensed producer in New Mexico..
25% - Review, audit and process failed transactions received daily through SBS. Analyst if the failed transaction can be processed, if not, contact individual or business entity for verification and instructions on application process and requirements.
25% - Review and prepare checks, ACH, wires and EFT's for fees received in accordance with NMSA Section 59A-6-1 and process in the current database and prepare batch to be turned into ASD within 24 hours. Assist with Continue Education audits and applications for resident applications and respond to customers and stakeholder inquiries in all forms of communication (telephone, email, mail, in person). Monitor and respond to customers and stakeholder inquiries through the agents / licensing email account. Also, assist with other duties that may be assigned by the Supervisor and / or Bureau Chief.
Who are the customers?
Producers (Agents) and Business Entities (Agencies)
Ideal Candidate
Regulatory and Statutory Insurance Experience
Experience reviewing insurance license applications.
Experience working in a fast paced environment.
Excellent customer service skills.
Excellent oral and written communication skills.
Minimum Qualification
High School Diploma or Equivalency and two (2) years of experience in investigations, regulation, policy, statutory, and / or contract compliance. Any combination of education from an accredited college or university in a related field and / or direct experience in this occupation totaling two (2) years may substitute for the required experience.
Employment Requirements
Must successfully pass background investigation.
Working Conditions
Work is performed in an office setting with exposure to Visual / Video Display Terminal (VDT) and extensive personal computer, phone usage and extended periods of sitting. This position may require travel and may occasionally work extra hours, on weekends and holidays.
Supplemental Information
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Agency Contact Information : Vanessa DeJesus (505) 827-4646. Email
For information on Statutory Requirements for this position, click the Classification Description link on the job advertisement.
Bargaining Unit Position
This position is covered by a collective bargaining agreement and all terms / conditions of that agreement apply and must be adhered to.
Salary : $38,140 - $61,024
