Senior Compliance Analyst
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Overview
Job Description
Position Purpose: The Sr. Compliance Analyst works to ensure NCMIC and Professional Solutions insurance products and operations are in compliance with all applicable laws and regulations. Responsibilities include insurance product filings; working with state regulators; monitoring changes to statutes and regulations; testing insurance systems for compliance; and partnering with multiple internal departments as well as external partners/MGA’s to ensure regulatory compliance is maintained.
Essential Functions:
Provides compliance support for the development of new insurance products and maintenance of existing products. Conducts regulatory research; builds and submits product filings via web-based portals; responds to product filing objections and addresses other product filing issues based on appropriate research, analysis, and project objectives; Communicates with internal and external constituents regarding product filings and provides guidance on regulatory compliance matters. |
Develops and maintains documentation related to filed products and other regulatory filings; Uploads information and documents into internal systems and databases |
Works with internal constituents (including the information technology and servicing teams) on implementation, testing and maintenance of filed/approved insurance products and provides guidance on related compliance issues |
Supports corporate compliance oversight activities including compliance monitoring and overseeing implementation of policies/procedures and regulatory changes; Files assigned periodic reports with state insurance regulators and assists with the company’s response to inquiries and requests from regulators (e.g., data calls; market conduct examinations; insurance examinations; ad hoc requests) |
Monitors, reviews, and analyzes statutes, regulations, and bulletins and determines the impact to company products and operations |
Assists with compliance projects and performs other job-related duties as assigned |
Requirements:
Education:
- Bachelor's degree or a combination of education and related experience.
- Professional insurance education (e.g., CPCU, RPLU) or willingness to pursue.
Experience:
- 4+ years of regulatory compliance experience in property & casualty insurance (commercial lines experience preferred)
- 6+ years of commercial lines underwriting or claims experience may be considered in lieu of compliance experience
- Supervisory, team lead, and/or training experience a plus
- Experience with insurance product filings via SERFF (System for Electronic Rate and Form Filing) and insurance document drafting a plus
Skills:
- Requires excellent organizational skills and attention to detail
- Requires excellent research skills and analytical thinking
- Requires ability to communicate information (both written and verbally) with diverse audiences, in a logical manner, and with the ability to explain and support a recommendation
- Requires knowledge of applicable laws and regulations, the ability to interpret new laws and regulations, and the ability to thoroughly and tactfully explain various compliance requirements/issues to other departments/partners
- Requires ability to exercise professional judgment and assume responsibility for decisions
- Requires strong interpersonal skills and the ability to maintain confidentiality
- Requires computer skills (including proficiency with Microsoft 365 products, SERFF, insurance systems, and other relevant online research and industry tools)
Mental Demands:
- Must be able to interpret data and complex situations
- Must be able to identify, define, and solve problems
- Must be able to work with minimal supervision and collaborate when needed
- Must be able to focus on projects for extended periods of time
- Must be flexible and be able to work on a variety of subjects and with a variety employees
- Must be able to plan, organize, prioritize, and meet deadlines
- Must have strong attention to detail and be able to maintain a high accuracy rate
Physical Demands:
- Continuous sitting for extended periods of time, some standing, walking, bending, and reaching.
- Frequent use of fingers and hands to manipulate computer and other office equipment.
- Ability to be able to look and concentrate at a computer/monitor for extended periods of time.
Automate your job search with Sonara.
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