Compliance Analyst

We are hiring for an Insurance Compliance Analyst where you will be responsible for ensuring that the company adheres to regulatory requirements and internal policies for its specialty property and casualty (P&C) insurance products. This role involves monitoring compliance across underwriting, claims, marketing, and policy administration, and collaborating with stakeholders to address compliance risks.

Key Responsibilities:

Regulatory Compliance:

• Monitor changes in insurance laws, regulations, and standards affecting P&C lines of business in relevant jurisdictions.
• Conduct compliance assessments of policies, procedures, and marketing materials to ensure adherence to regulations.
• Prepare and submit regulatory filings, including rates, rules, and forms, to state insurance departments.

Policy and Process Development:

• Develop and maintain compliance policies, procedures, and best practices for P&C products.
• Collaborate with underwriting, claims, and operations teams to integrate compliance requirements into business processes.

Audit and Monitoring:

• Perform internal audits to identify and address compliance risks.
• Develop corrective action plans for identified non-compliance issues.
• Maintain records of audits, findings, and remediation efforts.

Training and Communication:

• Deliver compliance training to employees, ensuring awareness of regulatory obligations.
• Act as a resource for compliance-related inquiries and provide guidance on regulatory matters.

Reporting and Documentation:

• Compile reports on compliance metrics, trends, and regulatory updates for management and regulatory agencies.
• Maintain comprehensive documentation of compliance activities and risk assessments.

Regulatory Liaison:

• Serve as a point of contact with state insurance regulators and respond to inquiries or audits.
• Ensure timely resolution of regulatory issues or concerns.

Qualifications:

Education: Bachelor’s degree in Business, Law, Insurance, or a related field.

Experience:

• 3-5 years of experience in compliance, auditing, or regulatory affairs within the P&C insurance industry.
• Knowledge of specialty insurance products is preferred.

Skills:

• Strong understanding of insurance regulatory requirements and compliance practices.
• Analytical and problem-solving skills.
• Excellent written and verbal communication.
• Proficiency in Microsoft Office Suite and compliance software.
• Certifications:
• Insurance certifications (e.g., CPCU, AIC, or AICP) are a plus.

Competencies:

• Attention to detail.
• Ability to manage multiple tasks and prioritize effectively.
• Strong ethical judgment and decision-making.
• Collaborative mindset with a commitment to teamwork.