What are the responsibilities and job description for the Title Insurance Bureau Chief (OSI #52601) position at State of New Mexico?
Posting Details
The Title Insurance Bureau regulates the title insurance industry through rate-making and rule-making hearings held every three-years. The Bureau collects and analyzes annual title agent and underwriter statistical reports, as well as agent audit procedures. The Bureau annually determines a maintenance assessment fee based upon the annual budget and administrative operating costs of the Bureau. The Bureau performs on-site title plant inspections, affiliations, appointments, bank reconciliations, no-pay no-service documentation, and premium calculations. The Bureau enforces all title insurance statutes, rules and regulations for the protection of title insurance consumers.
Interviews will be conducted within two (2) weeks of the closing of the position.
Why does the job exist?
To provide supervision and support to the compliance office supervisor and compliance officers. This includes interpreting various title statutes, rules, bulletins and orders. The Bureau Chief also instructs compliance officers on how to monitor and evaluate underwriter and agent experience reports and agreed upon procedures reports. The Bureau Chief assists in identifying information contained in those reports that may require follow-up investigations. The position also takes the lead in preparing for hearings related to the adoption of title insurance forms, the preparation of additional requests from the title industry and the Office of Superintendent of Insurance.
How does it get done?
The Title Bureau is responsible for the state regulatory oversight of the title insurance industry in New Mexico. The Bureau is responsible for title insurance premium rate determination on an annual basis as well as enforcement of all title insurance statutes and rules. The Bureau schedules, coordinates, and conducts the rate hearings held in November in each third calendar year. The Bureau is responsible for gathering all financial data from all licensed title agents and insurers for analysis by staff actuaries and for filing and publishing the new rates each year. This position is responsible for setting the higher level strategic direction for the bureau, including identifying and allocating bureau resources, determining strategies for performance improvement, developing policies and procedures, employee recruitment/retention and succession planning. It also includes drafting regulations in coordination with the OSI legal staff and supervising the inspection of title plants.
Who are the customers?
Title insurance consumers including residential property owner and buyers, commercial property owners, and lenders. The Bureau also serves title agents and underwriters operating in New Mexico.
Ideal Candidate
Title insurance consumers including residential property owner and buyers, commercial property owners, and lenders. The Bureau also serves title agents and underwriters operating in New Mexico.
Minimum Qualification
A Bachelor's degree in any field of study from an accredited college or university and five (5) years of professional level experience operating within parameters and guidelines directly related to the purpose of the position defined by the agency at the time of recruitment. Any combination of education from an accredited college or university and/or direct experience in this occupation totaling nine (9) years may substitute for the required education and experience. A hiring agency will designate a portion of the required experience to include supervisory and/or specialized experience. Any required licensure, certification or registration shall be defined at the time of recruitment and will be in addition to the above requirements.
Working Conditions
Work is performed in an office setting with exposure to Visual/Video Display Terminal (VDT) and extensive personal computer and phone usage. Some sitting, standing, bending and reaching may be required.
Supplemental Information
Do you know what Total Compensation is? Click here
Agency Contact Information: Timothy Vigil (505) 690-0651 Email
For information on Statutory Requirements for this position, click the Classification Description link on the job advertisement.
Bargaining Unit Position
This position is not covered by a collective bargaining agreement.
The Title Insurance Bureau regulates the title insurance industry through rate-making and rule-making hearings held every three-years. The Bureau collects and analyzes annual title agent and underwriter statistical reports, as well as agent audit procedures. The Bureau annually determines a maintenance assessment fee based upon the annual budget and administrative operating costs of the Bureau. The Bureau performs on-site title plant inspections, affiliations, appointments, bank reconciliations, no-pay no-service documentation, and premium calculations. The Bureau enforces all title insurance statutes, rules and regulations for the protection of title insurance consumers.
Interviews will be conducted within two (2) weeks of the closing of the position.
Why does the job exist?
To provide supervision and support to the compliance office supervisor and compliance officers. This includes interpreting various title statutes, rules, bulletins and orders. The Bureau Chief also instructs compliance officers on how to monitor and evaluate underwriter and agent experience reports and agreed upon procedures reports. The Bureau Chief assists in identifying information contained in those reports that may require follow-up investigations. The position also takes the lead in preparing for hearings related to the adoption of title insurance forms, the preparation of additional requests from the title industry and the Office of Superintendent of Insurance.
How does it get done?
The Title Bureau is responsible for the state regulatory oversight of the title insurance industry in New Mexico. The Bureau is responsible for title insurance premium rate determination on an annual basis as well as enforcement of all title insurance statutes and rules. The Bureau schedules, coordinates, and conducts the rate hearings held in November in each third calendar year. The Bureau is responsible for gathering all financial data from all licensed title agents and insurers for analysis by staff actuaries and for filing and publishing the new rates each year. This position is responsible for setting the higher level strategic direction for the bureau, including identifying and allocating bureau resources, determining strategies for performance improvement, developing policies and procedures, employee recruitment/retention and succession planning. It also includes drafting regulations in coordination with the OSI legal staff and supervising the inspection of title plants.
Who are the customers?
Title insurance consumers including residential property owner and buyers, commercial property owners, and lenders. The Bureau also serves title agents and underwriters operating in New Mexico.
Ideal Candidate
Title insurance consumers including residential property owner and buyers, commercial property owners, and lenders. The Bureau also serves title agents and underwriters operating in New Mexico.
Minimum Qualification
A Bachelor's degree in any field of study from an accredited college or university and five (5) years of professional level experience operating within parameters and guidelines directly related to the purpose of the position defined by the agency at the time of recruitment. Any combination of education from an accredited college or university and/or direct experience in this occupation totaling nine (9) years may substitute for the required education and experience. A hiring agency will designate a portion of the required experience to include supervisory and/or specialized experience. Any required licensure, certification or registration shall be defined at the time of recruitment and will be in addition to the above requirements.
Working Conditions
Work is performed in an office setting with exposure to Visual/Video Display Terminal (VDT) and extensive personal computer and phone usage. Some sitting, standing, bending and reaching may be required.
Supplemental Information
Do you know what Total Compensation is? Click here
Agency Contact Information: Timothy Vigil (505) 690-0651 Email
For information on Statutory Requirements for this position, click the Classification Description link on the job advertisement.
Bargaining Unit Position
This position is not covered by a collective bargaining agreement.
