Analyst, Regulatory Reporting

Coaction Specialty Insurance Group•Morristown, NJ

1d•$95,000 - $102,000•Hybrid

About The Position

At Coaction, we’re a unique mix of leaders, achievers, thinkers, and team players with a high-performance mindset and a diverse skillset. We bring our industry expertise together to continually push the boundaries of what insurance can be for our clients. The Regulatory Reporting Analyst will provide support and maintenance of data reporting needs to the Legal, Regulatory, and Compliance department. This position will manage the creation and submission of data reports pertaining to regulatory mandates. The candidate will develop accurate and innovative data trending techniques that are easily communicated to both internal department colleagues as well as neighboring impacted departments. Relationship building skills are a must, as you will coordinate within the department and outside vendors on bureau reporting, ISO reports, data calls and other related projects.

Requirements

Minimum 4 years of insurance data analysis and/or regulatory reporting experience required.
Broad based global insurance industry experience
Subject matter expert, possesses ability to work independently with little guidance
Extensive experience with large data sets and data model design
Strong process, systems, and analytical skills and with a high attention to detail
Strong execution and results orientation & ability to develop a high-performance organization.
Strong communication (oral and written) and influencing skills and demonstrated ability to work across interdisciplinary teams that are geographically

Nice To Haves

Bachelor’s Degree desired

Responsibilities

Interface with IT, Actuarial, Underwriting, Finance and Customer Service, along with outside vendors and/or rating organizations or bureaus to extract, analyze and report data to insurance departments, Workers’ Compensation rating bureaus and rating organizations.
Spearhead effective data collection – by being the voice of analysis data users on new products, new systems and updates to data processes
Manage the research and creation of unit statistical reports on a monthly basis for our Work Comp book of business.
Maintain accurate documentation of all work suitable for compliance examiners to audit.
Inform management of limitations of work, data constraints, as Validates entered data by reviewing, correcting, deleting and reentering accordingly.
Oversees the aggregation of data that is not currently systematically aggregated
Assist with the trending of data reporting activity and immediately escalate all anomalies to Director of the Regulatory Reporting Unit
Point of contact for MGA’s reporting Final/Revised Audits
Participate in corporate data initiatives and keep abreast of current technological resources and tools including third party vendors of data and data mining, and statistical techniques to improve analysis preparation.
Facilitate weekly conference calls to discuss data filings and remediate any errors in reporting.
Manage Workers’ Comp criticism response process.
Analyze identifying causes of fines/penalties for late and non-compliant reporting issues.
Maintain central repository listing of data calls and surcharge reports, by due date, jurisdiction, and frequency of submission and method of submission.
Maintain central repository listing of fines and penalties associated to Regulatory Reporting Unit.
Process check requests as needed.
Handle ad hoc data calls, financial / surcharge assessments and general statistical surveys from State Insurance Departments.
Work with IT, Customer Service and other departments to improve or automate data reporting processes were possible.
Handle other related projects as assigned.