Regulatory Compliance Analyst I

The Mission of The MEMIC Group is to make workers' comp work better with compassion, trusted partnerships, and relentless commitment to workforce safety. The secret to the success and longevity of great organizations is their shared vision and strong values. At MEMIC our values are to be conscientious, to be an expert, to be a partner, to be curious and to be transparent.

We are looking for a Regulatory Compliance Analyst I to report to our Portland, ME office, there is opportunity for this to be a remote position.

The Regulatory Compliance Analyst I’s primary responsibilities include drafting filings, communicating with internal business partners, corresponding with state regulators as part of the filing process and testing the policy administration system for accuracy. The Regulatory Compliance Analyst I ensures that accurate rate, rule and form filings are submitted to the applicable states within the timeframes established in order to ensure the success of the Underwriting Team’s production goals.

• Researches, interprets and communicates new and existing regulatory requirements to business partners in a timely and efficient manner.
• Prepares and submits rate, rule and form filings to regulatory agencies for approvals.
• Responds to state objections and involves actuarial assistance as necessary.
• Monitors all assigned states for changes in rates, rules and forms and takes appropriate action to satisfy filing requirements.
• Maintains timely and accurate documentation of compliance issues across all business areas.
• Coordinates rate, rule and form changes with all functional areas to ensure the integrity of the company policy administration system(s) and tests the policy administration systems for accuracy.
• Maintains a database for all filing activity in assigned states.
• Fosters business relationships with Underwriters and other staff regarding the status of filing activity and changes to the policy administration system. 
• Leads special projects when assigned. 

Requirements: 

• Bachelor's Degree in Business Administration or related field or equivalent work experience.
• Experience in insurance fields, specifically workers’ compensation insurance rules and concepts is desired.
• Sense of urgency and the ability to prioritize conflicting responsibilities.
• Accuracy and attention to detail a must.
• Ability to analyze regulatory changes, develop appropriate action plan and make independent decisions.
• Must have excellent analytical, reading, comprehension and writing skills.
• Proficient in Microsoft Office, including Excel and Word, is a must.
• Prior experience with SERFF preferred.
• Effectively communicates using written, verbal and listening skills.
• Excellent information gathering skills and the ability to convert and summarize research data for others a must.

Our comprehensive benefits package includes all traditional offerings such as:

• Health Insurance options, Dental Insurance options and Vision Insurance
• Employee Life Insurance/AD&D and Dependent Life Insurance options
• Short-term & Long-term Disability
• Health Savings Account with potential employer match
• Flexible Medical and Dependent Care Account
• Accident Insurance
• Critical Illness Insurance
• Employee Assistance Program
• Legal/Identify Theft Insurance options
• Long Term Care Insurance
• Pet Insurance
• 401 (k) Retirement Plan with match up to 5%, plus profit sharing & discretionary contributions (subject to vesting)
• 4 weeks of Paid Time Off (PTO)
• 7 paid holidays

We also offer other benefits to help foster a healthy, balance lifestyle such as:

• Flextime schedules
• Paid Parental Leave
• Student loan paydown and refinancing assistance
• Educational assistance for job related courses, seminars, certifications or degrees
• One paid day every year to volunteer for your non-profit of choice
• On-site fitness center (Maine & Virginia) or fitness reimbursement
• Subsidized parking
• Sit-Stand desks & daily stretch breaks

MEMIC is a safety company; therefore we require all employees to be fully vaccinated for COVID-19, unless an employee is allowed an exemption from this requirement due to a reasonable accommodation for legally protected medical or religious reasons.

MEMIC is committed to a policy of nondiscrimination and equal opportunity for all employees and qualified applicants without regard to race, color, religious creed, national origin, ancestry, age, disability, genetics, gender identity, veteran's status, sexual orientation, or any other characteristic protected by law. MEMIC is an equal opportunity employer encouraging diversity in the workplace. 

#IND2022