The Senior Compliance Analyst will report directly to Vice President, Compliance. Senior Compliance Analyst will coordinate, perform and/or oversee state policy and rate filing activities and ensure company’s compliance with state regulations. Responsible for monitoring state policy form and rate regulations, bureau filing changes and ISO and NCCI filing changes, and communicating with business partners to recommend and implement procedural changes across the organization to ensure business operations comply with changing requirements. React to Department of Insurance directives concerning change to rules and regulations to determine impact on Arch products. Oversee Global Services team on related functions.
Oversee and file with state insurance regulators forms, rates and rules developed by Product Development and Underwriting utilizing the SERFF software application.
Develop filing strategies to further the most efficient admitted project implementation.
Coordinate, perform and/or oversee state filings activities for bureau and independent insurance products in all states for various lines of business, including but not limited to workers compensation, commercial auto, general liability, property, crime, inland marine, umbrella/follow form excess liability, and other specialty admitted insurance products written on a property and casualty basis.
Work closely with other departments (underwriting, actuarial, IT, product development) to monitor and communicate filing methods and procedures to ensure rate and form filings in use are accurate and current.
Oversee and coordinate process for responding to state objections. Oversee needs for extensions, resubmissions, withdrawals with considerations of individual states’ restrictions and deadlines.
Respond to state objections by drafting endorsements and working closely with Product Development.
Coordinate and document all activities surrounding the filing, approval, disapproval of all filings with state insurance departments.
Manage compliance consultants and vendors who execute filings on the company’s behalf.
Rate Implementation / Bureau
Responsible for monitoring state policy form and rate regulations, bureau filing changes and ISO and NCCI filing changes, and communicating with business partners to recommend and implement procedural changes across the organization to ensure business operations comply with changing requirements.
Familiarity with and ability to interpret rules and regulations outlines in SERFF, Commercial Lines Manual and bureau filing circulars.
Monitor advisory organizations and independent bureau circulars and propose company response; inform appropriate divisions of changes.
Maintain Arch company specific exceptions pages for rates, rules, and forms.
Coordinate with IT and underwriting areas to achieve efficient implementation of approved products.
Working in conjunction with Senior Compliance Analyst and Corporate Underwriting Audit staff, develop and implement a systematic approach to insurance policy and rate filing compliance to identify errors and monitor corrective processes and procedures on implementation of product forms and rates
Advanced working knowledge of insurance principles procedures and best practices, commercial lines rating methodologies, state insurance regulation and filing requirements.
Advanced knowledge rate and forms filing procedures and compliance with laws, regulations, or standards.
Ability to interpret relevant industry trends and information within the industry and react in alignment with company strategic objectives.
Ability to effectively communicate ideas, issues and solutions to diverse audience in writing and orally.
Demonstrates high level of organizational skills and attention to detail.
Intermediate computer skills, and knowledge of and ability to use standard industry programs and websites.
Possess in-depth knowledge of ISO, NCCI and other bureau advisory filings and manuals.
7 years of experience in the insurance regulatory / state filings field.