Job Title: Product Development and Compliance Specialist
Remote
Job Type: Full-time
Our client is currently seeking a skilled Product Development and Compliance Specialist to join their dynamic team.
Job Summary: The Product Development and Compliance Specialist will be responsible for developing new insurance products and ensuring all products comply with regulatory standards. This role will involve working closely with various departments, including underwriting, actuarial, and carrier relations, to ensure comprehensive and compliant insurance solutions.
Key Responsibilities:
- Insurance Compliance Program Building:
- Develop and implement comprehensive insurance compliance programs to ensure all products adhere to state and federal regulations.
- Monitor changes in legislation and update compliance programs accordingly.
- Insurance Compliance Pack Presentation:
- Prepare and present compliance documentation and reports to internal and external stakeholders.
- Ensure all compliance packs are accurate, complete, and submitted on time.
- Carrier Relations:
- Establish and maintain strong relationships with insurance carriers.
- Negotiate terms and conditions with carriers to ensure favorable outcomes for the company.
- Internal Compliance Control:
- Develop and maintain internal controls to ensure compliance with regulatory requirements.
- Conduct regular audits and assessments to identify and address compliance risks.
- License Acquisition and Maintenance:
- Oversee the acquisition and maintenance of necessary licenses for insurance products.
- Ensure all licenses are current and compliant with regulatory standards.
- State Reporting:
- Prepare and submit required state regulatory reports.
- Ensure all state reporting is accurate, timely, and compliant with regulatory requirements.
- Insurance Program Building:
- Design and develop new insurance programs and products.
- Collaborate with underwriting and actuarial teams to create innovative and competitive insurance solutions.
- Data and General Compliance:
- Ensure all insurance products are compliant with data protection regulations.
- Manage and maintain accurate records of compliance activities.
- Underwriting:
- Work closely with underwriting teams to develop and refine underwriting guidelines.
- Ensure underwriting practices are compliant with regulatory standards.
- Actuarial Analysis:
- Collaborate with actuarial teams to conduct risk assessments and pricing analysis.
- Ensure actuarial practices are compliant and support the development of competitive insurance products.
Qualifications:
- Bachelor's degree in Business, Finance, Insurance, or a related field.
- Minimum of 5+ years of experience in product development and compliance in the Property and Casualty insurance sector.
- In-depth knowledge of insurance regulations and compliance requirements.
- Strong analytical and problem-solving skills.
- Excellent communication and presentation skills.
- Ability to work collaboratively with cross-functional teams.
- Proficiency in compliance software and tools.
What We Offer:
- Competitive salary and benefits package.
- Opportunity for professional growth and development.
- Collaborative and supportive work environment.