Compliance Associate II

MEMIC | Portland, ME

Posted Date 10/16/2019
Description

The Compliance Associate II’s primary responsibilities include preparation and submission of unit stat reports to all rating bureaus and determination of appropriate corrective action necessary for unit stat reporting, collaboration with the IT Department to identify issues and make recommendations for solutions, works directly with vendors to analyze and resolve complex data issues, as well as, corresponds with state regulators as part of the filing process and tests the policy administration system for accuracy. In addition, the Compliance Associate II 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.

  • Prepares unit stat reports for submission to all rating bureaus using the “pre-edit” tools available in each state. Corrects any errors found during the pre-edit process before final transmission to ensure reporting in accordance with all state rules.
  • Monitors and interprets policy and unit error reports from all rating bureaus and takes corrective action when necessary.
  • Collaborates with internal business partners and vendors to analyze and resolve complex data feed issues.
  • Communicates and collaborates with various internal business partners to develop plans to resolve complex data reporting issues.
  • Analyzes all rating bureaus unit stat and policy notifications, make corrections as required and respond to the all rating bureaus within required deadlines.
  • 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.

Requirements

  • Bachelor’s Degree in business or related field preferred.
  • Ten years of experience focused in insurance data reporting preferred or an equivalent combination of education and work experience is required.
  • Sense of urgency and the ability to prioritize conflicting responsibilities.
  • Accuracy and attention to detail a must.
  • Ability to problem solve and exercise critical thinking.
  • Ability to work independently while managing multiple priorities and deadlines.
  • 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.

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

    Geographic Region
    Greater Portland/Casco Bay

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