Regulatory Compliance Specialist

Markel • Richmond, VA

1d

About The Position

If you’re looking for a place where you can make a meaningful difference, you’ve found it. The work we do at Markel gives people the confidence to move forward and seize opportunities, and you’ll find your fit amongst our global community of optimists and problem-solvers. We’re always pushing each other to go further because we believe that when we realize our potential, we can help others reach theirs. Join us and play your part in something special! The Regulatory Compliance Specialist is responsible for supporting the Markel US Insurance Division efforts to ensure compliance with state laws and regulation as they relate to the management of the insurance policy lifecycle; obtain regulatory approval of its rates, rules and forms; and communicate compliance concepts to internal partners ensuring the accurate implementation of underwriting processes.

Requirements

• 3 years experience in the field of insurance preferred.
• Demonstrate strong quantitative and analytical skills.
• Use both written and verbal communication skills in a clear, effective and persuasive manner.
• Plan and organize activities to maximize efficiency and productivity.
• Ability to work effectively both individually and as part of a team.
• Familiarity with insurance pricing, underwriting, or rate and form compliance preferred.
• Must be proficient in MS Office Products including Word and Excel.
• US Work Authorization
• US Work Authorization required.
• Markel does not provide visa sponsorship for this position, now or in the future.

Nice To Haves

• Bachelor’s Degree Preferred.
• Preference given to individuals with applicable insurance designations.

Responsibilities

• Support the department’s efforts to ensure compliance with state insurance regulations.
• Accurately and thoroughly interpret state laws in assigned states.
• Review bulletins distributed by advisory bureaus (ISO, AAIS, etc.) and state departments of insurance within acceptable service level standards, evaluating if there is impact to existing company processes.
• As regulatory changes occur, determine impact on company practices and operations, including the compatibility of Markel products with bureau (ISO, AAIS, etc.) changes.
• Coordinate, investigate and respond to consumer/insurance department complaints consulting with manager, legal department and appropriate underwriting division.
• Participate in the preparation and execution of internal and external initiated rate, rule and form compliance examinations.
• Maintain procedures to ensure the integrity of business practices in assigned states.
• Support the department’s efforts to acquire regulatory approval of its rates, rules and forms.
• Determine an acceptable approache to accomplish the rate, rule and form objectives of the company.
• As needed, modify countrywide rate, rule and forms so that they are in compliance with regulations of each state.
• Submit rate, rule and form filings to state departments of insurance in accordance with state requirements within agreed upon time frames.
• Develop responses to questions posed by the State Departments of Insurance that arise throughout the filing process.
• Bring state state rate, rule and form filings to closure in a timely fashion.
• Support the department’s efforts to communicate compliance concepts.
• Prepare implementation notices outlining changes to existing underwriting processes, including changes to the company’s rates, rules and forms.
• Provide compliance requirements and coordinate implementations with Regulatory Business Analysts to ensure that policy issuance systems adhere to state regulations, including changes to the company’s rates, rules and forms.
• Act as a liaison for compliance topics with underwriting teams.
• Provide responses to internal compliance inquiries that successfully communicate the department’s compliance requirements.
• Participate in informative opportunities to improve job related skills and knowledge.

Benefits

• In keeping with the values of the Markel Style, we strive to support our employees in living their lives to the fullest at home and at work. We offer competitive benefit programs that help meet our diverse and changing environment as well as support our employees’ needs at all stages of life. All full-time employees have the option to select from multiple health, dental and vision insurance plan options and optional life, disability, and AD&D insurance. We also offer a 401(k) with employer match contributions, an Employee Stock Purchase Plan, PTO, corporate holidays and floating holidays, parental leave.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level