What are the responsibilities and job description for the Senior Compliance Analyst position at Sompo?
Are you looking for your next opportunity?
Sompo has a unique opportunity for a Compliance and Regulatory Reporting Analyst in our Insurance Operations team.
Location: This position may be based out of our Charlotte, NC, Alpharetta, GA or Morristown, NJ offices. We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers.
Our Business, Your Impact, Our Opportunity
What you’ll be doing:
Job Summary: The Insurance Regulatory and Compliance Reporting Analyst is responsible for preparing, analyzing, and submitting regulatory and compliance reports to ensure that the company meets all legal and regulatory requirements. This role involves working closely with various departments to gather data, analyze compliance metrics, and assist in the development of reporting processes and systems.
Key Responsibilities
Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.
Summary
We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents. Below is a summary of our current comprehensive U.S. benefit programs:
Ethics and integrity are the foundation of delivering on our commitment to you. We believe that core values drive success, and that when relationships are held in the highest regard, there is nothing that cannot be accomplished. At Sompo, our ring is more than a logo, it is a symbol of our promise. Click here to learn more about life at Sompo.
Sompo is an equal opportunity employer and we intentionally value inclusion and diversity. Above all, we want you to work in an environment that respects everyone’s unique contributions – we are passionately committed to equal opportunities. We do not discriminate based on race, color, religion, sex orientation, national origin, or age.
Sompo has a unique opportunity for a Compliance and Regulatory Reporting Analyst in our Insurance Operations team.
Location: This position may be based out of our Charlotte, NC, Alpharetta, GA or Morristown, NJ offices. We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers.
Our Business, Your Impact, Our Opportunity
What you’ll be doing:
Job Summary: The Insurance Regulatory and Compliance Reporting Analyst is responsible for preparing, analyzing, and submitting regulatory and compliance reports to ensure that the company meets all legal and regulatory requirements. This role involves working closely with various departments to gather data, analyze compliance metrics, and assist in the development of reporting processes and systems.
Key Responsibilities
- Gather and analyze data from various sources to support regulatory and compliance reporting.
- Prepare and submit accurate and timely regulatory and premium and claim statistical reports to relevant authorities (state insurance departments, NCCI, independent rating bureaus, regulatory agencies).
- Ensure that all reports comply with regulatory standards and internal policies.
- Provide accurate and detailed analysis for Proof of Coverage and Policy fines to the appropriate Divisions and Bureaus
- Assist in the development and maintenance of compliance dashboards and reporting tools.
- Work closely with compliance, legal, and operational teams to research data quality issues, ensure accurate data collection and reporting.
- Respond to inquiries from regulatory agencies, NCCI and/or independent rating bureaus.
- Ensure accurate payment of State and Bureau fund assessments and surcharges.
- Maintain comprehensive records of compliance reports and supporting documentation.
- Assist in the development and documentation of reporting processes and procedures.
- Stay informed of industry trends and regulatory changes affecting reporting requirements.
- College degree preferred (equivalent work experience would be considered).
- At least 3 years of experience in insurance regulatory and compliance reporting, data analysis, or a similar role within the insurance industry.
- Strong analytical skills and attention to detail.
- Proficiency in data analysis tools and software (e.g., Excel, SQL, reporting software).
- Excellent organizational and time-management skills.
Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.
Summary
We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents. Below is a summary of our current comprehensive U.S. benefit programs:
- Two medical plans to choose from, including a Traditional PPO & a Consumer Driven Health Plan with a Health Savings account providing a competitive employer contribution
- Pharmacy benefits with mail order options
- Dental benefits including orthodontia benefits for adults and children
- Vision benefits
- Health Care & Dependent Care Flexible Spending Accounts
- Company-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & children
- Company-paid Disability benefits with very competitive salary continuation payments
- 401(k) Retirement Savings Plan with competitive employer contributions
- Competitive paid-time-off programs, including company-paid holidays
- Competitive Parental Leave Benefits & Adoption Assistance program
- Employee Assistance Program
- Tax-Free Commuter Benefit
- Tuition Reimbursement & Professional Qualification benefits
Ethics and integrity are the foundation of delivering on our commitment to you. We believe that core values drive success, and that when relationships are held in the highest regard, there is nothing that cannot be accomplished. At Sompo, our ring is more than a logo, it is a symbol of our promise. Click here to learn more about life at Sompo.
Sompo is an equal opportunity employer and we intentionally value inclusion and diversity. Above all, we want you to work in an environment that respects everyone’s unique contributions – we are passionately committed to equal opportunities. We do not discriminate based on race, color, religion, sex orientation, national origin, or age.
