Compliance Analyst

Description:

Summary:

This position is responsible for supporting compliance and product development for the Company and its affiliates by executing compliance plans and monitoring regulatory changes. The position is also responsible for collaborating with other departments to ensure adherence to laws and regulations.

Functions:

• Perform research and analysis regarding legal and regulatory compliance requirements within the property and casualty insurance industry.
• Monitors, reviews, and analyzes laws, regulations, supervisory notices, market conduct actions and examinations, and regulatory bulletins relating to property and casualty insurance on an ongoing basis and shares responsibility for drafting notifications, analyses, or other communications on emerging issues.
• Track, maintain, and file the necessary documents to obtain and maintain all licenses for the Company and its affiliates, including, but not limited to, insurance certificates of authority with departments of insurance and corporate registrations with secretaries of state.
• Track, maintain, and file all the necessary documents to obtain and maintain authorization to write all lines of business required by the Company and its affiliates, including but not limited to, rate and form filings.
• Responsible for regulatory affairs, including responding to DOI inquiries, data calls, and required anti-fraud plans.
• Assist with complaint responses, regulatory audits, and licensing requirements as needed.
• Maintain an awareness of state regulatory filings (form, rate, rule changes) and provide legal insight on compliance risks.
• Advise on insurance law, regulatory trends, and potential legislative changes impacting the Company and its affiliates.
• Conduct reviews, testing, and data analysis to verify compliance with internal policies and regulatory requirements.
• Support Compliance, Product Development and IT staff to implement rate and coverage revisions from rating bureaus, insurance departments, and internally developed revisions.
• Work with Product Development staff and IT in the development of new and revised compliance and processing systems.
• Perform other duties as assigned.

Requirements:

• Bachelor's degree or higher required.
• Juris Doctor or equivalent law degree preferred.
• Insurance compliance-related certifications preferred.
• Minimum of 3 years of experience in the property/casualty insurance industry required for applicants with a Juris Doctor. Additional experience in compliance within the insurance industry is required for applicants who do not possess a Juris Doctor.
• Capacity to critically analyze bulletins, circulars, regulations, and notices issued by state regulatory agencies and rating bureaus and to develop implementation plans and procedures to respond appropriately required.
• Knowledge of insurance industry applications preferred (e.g., NILS, NAIC, NIPR, Sircon, and state proprietary applications)
• Knowledge of legal research tools preferred (e.g., Westlaw, LexisNexis).
• Ability to work effectively with company computer systems and processing methods required.
• Ability to work creatively on procedure changes required.
• Self-starter with the ability to prioritize competing deadlines required.
• Highly effective interpersonal and communication skills are required.
• Willingness and ability to take initiative and responsibility required.
• Experience in proper documentation of procedures and actions required.
• Ability to work flexible hours, travel to all organizational offices (Pennsylvania, Ohio, and South Dakota) and travel to vendor work sites required.
• Ability to work in an office environment with moderate noise level, remain in a stationary position and operate a computer a majority of the time required.
• Ability to move throughout the office to access work materials and to move work materials weighing up to ten pounds daily required.
• Ability to perform the essential functions of the job with or without reasonable accommodation required.