Associate Insurance Compliance Specialist

2 days ago

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The Baldwin Group

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Commercial Risk Management • Private Risk Management • Personal Insurance • Employee Benefits • Asset and Income Protection

1001 - 5000 employees

Founded 2011

💸 Finance

Description

• The Associate Insurance Compliance Specialist, Product ensures that organizations comply with industry specifications, standards, regulations, and laws. • He/She will review product compliance requirements, support the development of compliant insurance product forms and programs, and perform regulatory risk management activities. • He/She will ensure that business practices and programs conform with insurance statutory and regulatory obligations. • This ideal candidate is responsible for ensuring business practices, insurance products and programs adhere to MSI’s compliance program. • Gather state requirements necessary to develop and review new products to ensure policy forms comply with state requirements. • Support new product development by coordinating new product rollout projects including enhancement projects relating to existing products to ensure product compliance review process is documented and managed appropriately. • Engage in product form reviews and testing to ensure MSI’s programs adhere to regulatory and contractual requirements. • Develop monitoring reports relating to product development for internal monitoring purposes. • Support any risk assessments, auditing, and monitoring activities in accordance with the compliance program. • Assess risks and identify potential areas of compliance vulnerability. • Serve as liaison between product managers and product compliance team in the resolution of potential risks and vulnerability. • Provide guidance to the business on required changes to new products, services, and geographies. • Maintain, update, and create process as needed to support maintenance of compliance program. • Serve on business projects as needed, including new product development. • Other general compliance duties as assigned.

Requirements

• Bachelor’s degree; or equivalent combination of education and work experience. • At least 3 years relevant, regulatory compliance experience, preferably in the property and casualty insurance industry. • Excellent attention to detail and ability to troubleshoot technical issues. • Ability to take initiative and work under minimal supervision. • Strong verbal and written communication skills. • Ability to handle multiple tasks, in a timely manner, on a continual basis under strict deadlines. • Strong planning, organization, and follow-up skills. • Excellent PC skills including Excel, Word, Access, online resources with strong database management skills. • Existing project management experience a plus. • Surplus Lines knowledge a plus.