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The Compliance Specialist plays a key role in supporting the company's insurance regulatory compliance program. The Compliance Specialist independently handles Compliance activities while supporting more complex initiatives led by senior staff. The role offers broad exposure to insurance operations, regulatory change management, and compliance strategy while partnering with stakeholders across the organization.
Key Accountabilities/Deliverables:
- Serve as a primary coordinator for regulatory complaints and manager of the consumer complaint register, partnering with business stakeholders to ensure timely, accurate, and professional responses to regulators and consumers.
- Independently prepare, submit, and manage standard regulatory filings.
- Review and analyse administrative circulars, bulletins, letters, and similar documentation to identify business impacts and emerging compliance obligations relevant to the company.
- Partner with underwriting, claims, legal, and business leaders to support compliance initiatives and implementation of regulatory changes.
- Complete internal reviews of underwriting and other functions to ensure compliance with company standards and regulatory requirements.
- Participate in compliance reporting, internal audits, and process improvement initiatives.
- Prepare and review reports/responses for accuracy prior to submission to management and regulators, identifying and resolving issues before delivery.
- Assist with special or ad hoc projects, as needed.
- Perform other duties and responsibilities as required or requested.
Technical Knowledge and Understanding:
- Understanding of relevant insurance concepts and regulations, including coverage and rating of property & casualty commercial lines
- Intermediate to advanced knowledge of MS Word, Excel, Adobe Acrobat, with the ability to learn proprietary systems.
Experience:
- 2-year degree and 2 years of related experience or one to three years insurance industry experience
- Preferably experience with complaint handling and drafting of responses, State Departments of Insurance and Workers’ Compensation Commissions.
- Insurance Compliance certification desired
- Ability to research and communicate the impact of regulatory or industry changes to various departments.
- Support multiple and varied regulatory and compliance initiatives.
- Strong attention to detail, highly organized, and able to balance multiple concurrent tasks/timelines.
- Ability to work both independently and as part of a team.
Applicants must be authorized to work for any employer in the U.S. We are unable to sponsor or take over work authorization sponsorship now or in the future for this position.
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At Core Specialty, you will receive a competitive salary and opportunities for professional development and advancement. We offer medical, dental, vision, and life insurances; short and long-term disability; a Company-match of 100% of a 6% contribution 401(k) plan; an Employee Assistance Plan; Health Savings Account, Flexible Spending Account, Health Reimbursement Account, and a wellness program