Sr Compliance Consultant

POSITION OVERVIEW :

This is a senior position in the Regulatory Compliance Department reporting directly to the Specialty Compliance Director.

This position will be responsible for designing, implementing and enforcing compliance strategy and programs that are effective in preventing, detecting and correcting misconduct or violations of government regulations or company policy.

In addition, the role will involve compliance and ethics consulting, implementation, training, monitoring, investigation, remediation, and reporting.

This role will routinely interact with internal management as well as external state regulators and examiners. This role will have a focus on, but not be limited to Specialty P&C insurance products.

IN THIS ROLE, YOU WILL :

• Serve as a senior Compliance professional capable of independently resolving complex issues, conducting research and making informed decisions.
• Must be able to identify applicable compliance requirements and articulate those requirements to the business unit.
• The ideal candidate has a strong working knowledge of P&C regulatory requirements and interact regularly with Legal partners.
• Research and interpret regulations and compliance related requirements by reviewing regulatory bulletins and utilizing a variety of research tools.
• Communicate with business partners verbally, and in writing, regarding regulatory expectations. This includes providing guidance to the business, as well as aid in designing solutions regarding controls to mitigate inherent risk.
• In alignment with Specialty and other business areas of focus, assess risks and identify potential areas of compliance vulnerability.
• Assess interconnectivity of issues across the enterprise.
• Interact professionally and communicate clearly with a diverse group of individuals including executives, leaders, business partners, and external regulators.
• As a senior compliance professional, represent Compliance at inter-departmental meetings.
• Serve as the project lead, or Compliance representative on a wide-range of projects.
• Serve as process lead for Compliance team functions.
• Share subject matter expertise and coach lesser experienced staff.
• Develop and maintain effective working relationships within the Compliance department and with other internal and external stakeholders.
• Pro-actively collaborate with others across the enterprise to achieve organizational goals, build networks.
• Stay current with industry trends and provide updates to other Compliance team members. Pursue applicable technical and business-related training.
• Develop key compliance reporting metrics for senior leadership, provide interpretations and recommendations for improvement.

Present compliance results and recommendations to senior leadership and business partners.

• Provide independent oversight of corrective action plans developed through business unit self-audits and Compliance audits.
• Test and validate corrective actions to confirm mitigation plans have been properly implemented.
• Prepare materials and information required in response to internal and external regulatory audits, data calls, surveys and investigations and assist in preparing responses.
• Partner with the business unit in preparation for internal audits and examinations, including any remediation resulting from audits and exams.
• Provide guidance to business units on changes to new products, services, and geographies.
• As needed, independently review, prepare and submit accurate and timely filings of rates, rules and forms to state insurance departments.

Serve on business projects as needed including new product development.

• Communicate on a regular basis with state insurance departments to negotiate and secure approvals of filings within established timeframes.
• Provide timely and frequent communication to affected business areas on status of filings in progress.
• Prepare accurate and timely responses to insurance consumer complaints received from State Department of Insurance, social media and direct from consumers.
• Due to the fast-paced nature of the regulatory and business environments, the position requires the ability to quickly adapt to change and to multi-task various assignments.
• The individual must be able to provide compliance guidance that balances both regulatory requirements while meeting business objectives.
• Exercise judgment within defined procedures and practices to determine appropriate action.

WHAT YOU NEED TO APPLY :

15 years property and casualty insurance industry experience with personal lines, commercial lines and / or specialty expertise in applicable business roles including claims, sales, underwriting or product preferred;

proven compliance / regulatory experience preferred.

Insurance related compliance experience in risk assessment, testing and monitoring including knowledge of business processes and technologies desired.

Familiarity with P&C regulatory environment. Ability to assess processes to identify key controls.

• Four-year undergraduate degree or equivalent work experience preferred. P&C industry and / or Compliance professional designation, certification or memberships preferred.
• Demonstrated adoption of a growth mindset with a passion for continuous improvement.
• Strong curiosity regarding utilizing technology to improve work effectiveness and efficiency required, e.g., AI, dashboarding / visualization of results.
• Ability to work independently, take initiative and have strong verbal and written communication skills.
• Good time management and attention to detail are critical in this position.
• Good analytical, research, organizational, and project management skills. Strong individual contributor with the ability to work effectively as a team.

CAREER DEVELOPMENT :

It’s not just a job, it’s a career, and we are here to support you every step of the way. We want you to be successful and fulfilled.

Through on-the-job experiences, personalized coaching and our robust learning and development programs, we encourage you at every level to grow and develop.

BENEFITS :

We offer comprehensive benefits to help you be healthy, build financial security, and balance work and home life. At The Hanover, you’ll enjoy what you do and have the support you need to succeed.

Benefits include :

• Medical, dental, vision, life, and disability insurance
• 401K with a company match
• Tuition reimbursement
• Company paid holidays
• Flexible work arrangements
• Cultural Awareness Day in support of IDE
• On-site medical / wellness center (Worcester only)
30+ days ago