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Position: Assistant Treasurer for Second Injury Fund and Unclaimed Property
Municipality:Office of the Connecticut State Treasurer
Close Date:1/15/2022
Description:

Assistant Treasurer

Second Injury Fund Division and Unclaimed Property Division

Annual Salary: $105,331.00 - $191,376.00

 

Office of the State Treasurer is recruiting for a full-time Assistant Treasurer who is responsible for managing the work of two divisions: Second Injury Fund (SIF or the Fund) and the Unclaimed Property Division (UCP).  In this role, the Assistant Treasurer receives direction from the Treasurer and or the Deputy Treasurer and will supervise a Controller, three managers, two Executive Assistants, one Executive Secretary and is responsible for the staff and work of both divisions.  This position is a full time first-shift position located at the newly renovated State Office Building at 165 Capitol Avenue in Hartford CT.  This state-of-the-art building offers free garage parking, and ergonomic workspaces.  The Office of the State Treasurer offers an excellent salary and benefits package.

 

Agency Overview

The Office of the State Treasurer exists to provide and ensure effective financial management of public resources, high standards of professionalism and integrity, and expanding opportunity for

State of Connecticut residents and businesses.

Under the leadership of Connecticut’s State Treasurer Shawn T. Wooden, the Office of the Treasurer (OTT) is dedicated to safeguarding the state’s financial resources and taxpayers’ dollars, while maximizing returns, minimizing risks, and operating at the highest professional and ethical standards. Through investments and disbursements, the Office continues to enhance the State’s fiscal stability, financial literacy, college savings, and its approach to leveraging business partnerships to combat social issues such as gun violence, climate change, and equal opportunity in economic growth that impact shareholder value.

 

 

The Second Injury Fund

The Second Injury Fund (“SIF” or the “Fund”) is an extension of the Workers’ Compensation Act managed by the Treasurer of the State of Connecticut and operates under Chapter 568, of the Connecticut General Statutes (C.G.S.). Prior to July 1, 1995, the Fund provided relief to employers where a worker, who already had a preexisting injury or medical condition, was hurt on the job and that second injury was made “materially and substantially” worse by the pre-existing injury or medical condition.

In 1995 the Connecticut General Assembly closed the Fund to new “second injury” claims sustained on or after July 1, 1995. However, the Fund continues to be liable for payment of claims which involve an uninsured or bankrupt employer and, on a pro rata basis, be liable for reimbursement claims to employers of any worker who had more than one employer at the time of the injury.

In addition, the Fund will continue to be liable for and make payments with respect to:

·         Widow and dependent death benefits

·         Reimbursement for cost-of-living adjustments on certain claims

·         Second injury claims transferred to the Fund prior to July 1999 with a date of injury prior to July 1, 1995.

 

The Fund seeks to provide quality service both to the injured workers and employers of Connecticut, whom it jointly serves and accomplishes this by adjudicating qualifying workers' compensation claims fairly and in accordance with applicable law, industry standards and best practices. Where possible, the Fund seeks to return injured workers to gainful employment or seeks settlement of claims, which ultimately reduces the burden on Connecticut taxpayers and businesses.

The Fund is financed by assessments on all Connecticut employers. Annually, the State Treasurer, as Custodian of the Fund, establishes the assessment rate on or before May 1st.

 

The Unclaimed Property Division

The Office of the Treasurer’s Unclaimed Property Division is responsible for safeguarding assets turned over to the Office in accordance with state law, until the rightful owners are located.  The primary objective of the unclaimed property program is to reunite rightful owners or heirs with their unclaimed property, which is remitted to the Office of the Treasurer by business entities after the business loses contact with a customer for a period of three to five years.

Unclaimed assets include but are not limited to deposits in savings or checking accounts, uncashed checks, matured certificates of deposit, stocks, bonds or mutual funds, travelers’ checks or money orders and proceeds of life insurance policies.

Assets must be reported and remitted within 90 days following the close of each calendar year.  These assets are held in the custody of the Treasurer until claimants come forward to claim the property.  Rightful owners or their heirs always have the right to claim funds held by the Treasury.  There is no time limit to claim funds. 

To determine whether a holder is complying with its duties under the law, the Division is permitted to conduct examinations of company records.  Upon receipt of unclaimed securities (stocks and mutual funds), the Treasurer may proceed with the sale of the securities and retains the proceeds for the benefit of the owner of the property. 

Efforts to locate the owners of unclaimed property include the biannual publication of abandoned property reported and transferred to the Treasurer.  The Division also maintains a user-friendly website that is updated with new names daily, called CT Big List at www.ctbiglist.com. 

All unclaimed receipts are deposited into the General Fund until rightful owners come forward to claim the property.

 

Responsibilities:

Schedule, assign, and oversee staff for the SIF and the UCP; plans and coordinates division work activities; provides consultation and technical assistance to staff; supervises a Controller, Special Funds Administrators, Executive Assistants, Paralegals, and Executive Secretary; formulates program goals and objectives; manages and monitors contracts with the SIF and the UCP vendors; develops or revises the SIF and the UCP guidelines, procedures, and policies; prepares reports and correspondence;  troubleshoots and resolves problems related to the SIF and the UCP claimants, attorneys, insurance company representatives, and employers; determines appropriate staffing levels and directs the management and coordination of staff; responds to oral and written inquiries; identifies and manages the SIF and the UCP backlogs, if necessary; interprets and administers pertinent laws; evaluates staff performance; prepares the SIF and the UCP budgets as well as makes recommendation to the Treasurer regarding the SIF assessment rate; maintains contact with individuals and agencies that might impact program activities; coordinates research, data analysis, and program planning efforts; manages and oversees large scale projects; prepares all reports required by the Treasurer or Deputy Treasurer; and performs other duties as assigned.

Considerable knowledge of and ability to apply management principals and techniques; considerable knowledge of and ability to interpret and apply relevant state and federal laws, statutes, and regulations; knowledge of principles and practices of public administration; knowledge of office procedures including personnel; considerable interpersonal skills; knowledge of legislative process;   considerable oral and written communication skills; ability to deliver presentations for external and internal groups; ability to utilize computer software programs; supervisory experience; and considerable ability to interpret complex written material and to assess the impact on programmatic goals.

 

Qualifications

Ten (10) years of experience in a management capacity in an office dealing with dispute resolutions, applying states statutes and regulations, utilizing independent judgement in the application of established policies and procedures and or reviewing and recommending amendments or new policies and procedures, and managing professional staff.

A law degree is required. 

 

Selection Process:

All state employees shall follow the guidelines as listed in Executive Orders 13F (3a) and 13G (3a).

Candidates who have been selected for employment with the Office of the State Treasurer are subject to reference checks and a detailed background check. Selection for employment is contingent upon satisfactory completion of these checks.

In order to be considered for this job opening, you must meet the minimum qualifications as listed on the job opening.  You must specify your qualifications on your application.

Minimum experience and training requirements must be met by the close date on the job opening.  Please ensure your application is complete prior to submitting.

 

Appointment

This position is filled by appointment and serves at the pleasure of the Connecticut State Treasurer in accordance with Sections 3-13 and 3-13a of the Connecticut General Statutes.

 

Application:

Due to the large volume of applications received, the State Treasurer’s office is unable to provide confirmation of receipt or status during the recruitment process.  If you have any questions pertaining to this recruitment, please contact our Human Resources Office at ott.recruiting@ct.gov.



We are an Equal Opportunity Employer.


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