Sr Compliance Analyst - MNL

This is a remote position.

The Senior Compliance Analyst is responsible for overseeing the production of all documents pertinent to various products in an effort to facilitate the current and compliant execution of business as well as communicating and coordinating with various staff and contracted entities to maintain accuracy and compliance.

Major responsibilities and essential duties: 

Generate and review policy documents

• Manage and revise existing policies and contract forms per marketing and administrative needs
• Monitor state filing requirements
• Research and develop new product forms including rate appendices, amendments, and applications
• Develop, maintain, and distribute essential management reports reflecting current and pending forms and/or contract documents to be considered in planning and new product development
• Ensure regulatory compliance of all products
• Prepare and submit all policy form filings to insurance departments

Monitor internal controls

• Facilitate compliance with Guaranty Association Notice requirements, claims payment requirement, etc. in regard to various products
• Work with department staff to ensure forms used by agents/accounts are complying
• Assist in the implementation of state approved forms and contracts
• Review, monitor and analyze pending and recently enacted legislation and regulations
• Monitor, update and maintain company Compliance Library documents

Develop, coordinate, and enhance working relationships, internal and external

• Provide staff with thorough information on various products
• Coordinate design and establishment of policies and procedures to support state and federal statutes/regulations/requirements and ensure implementation
• Provide research and consultation as needed and/or requested regarding various products
• Foster and maintain relationships with contract specialists within other corporate entities
• Develop and maintain working relationships with state regulators
• Respond to insurance department objections/questions and negotiate and secure form and rate approvals
• Develop and maintain working relationships with partner TPA’s, marketers
• Provide leadership and assist other Compliance Specialists with day to day filing and research functions.

Assist in department specific compliance initiatives

• Monitor and respond to regulatory changes
• Perform on-going audits of department specific functions to ensure company remains in compliance with state and federal laws, regulations, and requirements
• Review advertisements for assigned product lines in all states
• Perform detailed audits of company’s third party administrators for occupational accident, group life and disability income product lines.
• Coordinate and track handling of insurance department complaints related to products administered outside of Madison. Work with TPA’s to correct non-compliant practices or issues.
• Work with insurance departments on information requests and targeted exams resulting from TPA errors in administration.
• Appoint external and internal producers in accordance with regulatory requirements in 49 states.

Education and/or experience:  Bachelor’s degree preferred with five years of experience researching and interpreting life and health insurance laws. Paralegal certificate preferred. Two years of experience drafting new policy forms. Two to four years of experience with life and health insurance products. Comparable experience considered. Specific experience with insurance department filings preferred.

Skills and or abilities:  Requires excellent verbal and written communication skills.  Requires ability to communicate complex information to a diverse audience both orally and in writing. Must be able to effectively work on a team or individually.  Candidate must possess superior problem solving ability, high level organizational skills, and analytical ability with strong attention to detail.  Candidate must be able to read and interpret legal language. Must be proficient with Microsoft Word and have familiarity with Microsoft Excel. Must have proficient working knowledge of System for Electronic Rates & Forms Filing (SERFF). Must possess working knowledge of insurance legal database such as Wolters Kluwer INSource or Westlaw.  Ability to multitask is critical.

Certificates:  Completed LOMA or HIAA courses or designations preferred.

Qualifications:  To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.  Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions. Must possess advanced working knowledge of life and health insurance principles, procedures and best practices, rate/form filing procedures and compliance with state laws, regulations, and standards/requirements.

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