What are the responsibilities and job description for the Product Development Analyst position at MSIG USA?
MSIG USA continues to grow!
Company Overview
MSIG USA is the US-based subsidiary of MS&AD Insurance Group Holdings, Inc., one of the world’s top P&C carriers and a global Class 15 insurer, with A ratings and a reach that spans 40 countries and regions. Leveraging our 350-year heritage, MSIG USA brings the financial strength, expertise, and global footprint to offer commercial insurance solutions that address your business’s unique risks.
Position Summary: The Product Services/Regulatory Compliance Analyst will support product maintenance, development, and management efforts for all Commercial Insurance Lines of Business. This role will assist in facilitating product line initiatives across various departments, including Underwriting, Legal, Claims, Actuarial, IT and Operations.
Major Duties And Responsibilities
It is the policy of MSIG USA to provide equal employment opportunity (EEO) to all persons regardless of age, color, national origin, citizenship status, physical or mental disability, race, religion, creed, gender, sex, sexual orientation, gender identity and/or expression, genetic information, marital status, status with regard to public assistance, veteran status, or any other characteristic protected by federal, state or local law. In addition, MSIG USA will provide reasonable accommodations for qualified individuals with disabilities.
Company Overview
MSIG USA is the US-based subsidiary of MS&AD Insurance Group Holdings, Inc., one of the world’s top P&C carriers and a global Class 15 insurer, with A ratings and a reach that spans 40 countries and regions. Leveraging our 350-year heritage, MSIG USA brings the financial strength, expertise, and global footprint to offer commercial insurance solutions that address your business’s unique risks.
Position Summary: The Product Services/Regulatory Compliance Analyst will support product maintenance, development, and management efforts for all Commercial Insurance Lines of Business. This role will assist in facilitating product line initiatives across various departments, including Underwriting, Legal, Claims, Actuarial, IT and Operations.
Major Duties And Responsibilities
- Work with business units and internal team members in the development and filing of new Commercial Lines products, amendments, coverages, rating plans, and programs that conform to applicable laws while meeting business objectives.
- Manage and maintain Commercial Lines Products including forms, rules, and rating plans so they are compliant with regulatory requirements.
- Manage/implement approved rate/rule/form changes in the appropriate policy issuance system(s).
- Assist in the development of product filings for all commercial lines of business to ensure expedited filing approvals.
- Assisting in providing input/drive resolution to filing objections with the State Filings Manager as well as Business Units and Actuarial as needed.
- Analyze regulatory and legislative changes and propose action as needed. Develop and circulate advisory bulletins as appropriate.
- Provide technical advice, counsel, and assistance in the development and utilization of the policy issuance system(s) utilized by Commercial Lines.
- Participate in and support regulatory compliance activities including audits of business units and Market Conduct Examinations.
- Research and develop reference tools on important product issues for use by various departments within MSIG USA.
- Provide detailed and accurate product requirements (forms, rules) to IT/third party vendor for system implementation.
- Manage special projects, as assigned.
- Associate’s/Bachelor’s degree or equivalent industry experience.
- 5 years of strong knowledge relating to the State Filings process for both proprietary and bureau line of business
- Experience in property and casualty products, product management and regulatory compliance a plus.
- Strong analytical, organizational and project management skills
- Ability to work independently and as part of a team
- Proficient in Microsoft Word and Excel
- Excellent written and oral communications skills
- Demonstrates strong attention to detail. Commitment to project ownership and accuracy.
- Strong knowledge of Commercial Lines insurance products, policy language and coverages
- Strong knowledge of bureau and proprietary products and policy admin systems a plus
- Knowledge in translating forms, rates and rules into requirements for system implementation
- Strong organizational and project management skills
- Ability to work independently and as part of a team
- Strong desire to be responsive to customer needs
- Self-motivated with a strong work ethic
- Ability to manage multiple of projects, prioritize competing priorities, and address business customer request in a fast-paced environment.
It is the policy of MSIG USA to provide equal employment opportunity (EEO) to all persons regardless of age, color, national origin, citizenship status, physical or mental disability, race, religion, creed, gender, sex, sexual orientation, gender identity and/or expression, genetic information, marital status, status with regard to public assistance, veteran status, or any other characteristic protected by federal, state or local law. In addition, MSIG USA will provide reasonable accommodations for qualified individuals with disabilities.
