- 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.
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:
- 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
groups, professional organizations, and other federal/state government entities to develop and implement uniform policies and procedures where entities have the same jurisdiction.
- 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.
Salary will be commensurate with experience. NYSIF has a telecommuting program.
The New York State Insurance Fund (NYSIF) was established in 1914 as part of the original enactment of the New York State Workers’ Compensation Law. NYSIF's mission is to guarantee the availability of workers’ compensation insurance at the lowest possible cost to New York employers and to provide timely, appropriate indemnity and medical payments to injured workers, while maintaining a solvent fund. Since inception, NYSIF has fulfilled the dual roles for which it was created: to compete with other carriers to ensure a fair marketplace and to be a guaranteed source of coverage for employers who cannot secure coverage elsewhere.
NYSIF is the largest workers’ compensation carrier in New York State and among the top 10 largest workers’ compensation carriers in the nation, insuring approximately 139,000 policyholders, with more than $1.8 billion in annual earned premium and over $22 billion in assets. A self-supporting insurance carrier, NYSIF operates without taxpayer funding.
In addition to workers’ compensation insurance, NYSIF provides disability benefits coverage for off-the-job injuries to more than 56,000 New York employers. In 2018, NYSIF added paid family leave as a component of its disability benefits product, providing New Yorkers with job-protected, paid time away from work to care for their families.
NYSIF Commitment to Diversity, Equity, and Inclusion
The New York State Insurance Fund (NYSIF) prioritizes and champions diversity, equity, and inclusion (DEI) throughout our agency. NYSIF provides equal opportunities to all employees and applicants for employment without regard to race, religion, color, age, sex, national origin, sexual orientation, gender identity, disability, veteran status, or any other protected category under federal, state, and local law. We believe that embracing our differences brings richness, new ideas and experiences to NYSIF, which energizes a creative and innovative work environment. We strive to foster a workplace where diverse individuals are able to participate fully in the decision-making process and have ample opportunity for advancement. We are committed to investing the necessary resources and attention to improving the engagement, retention, and promotion of the extraordinary talent we have.