Compliance Analyst

Arch Insurance Group Inc. • Jersey City, NJ

28d • Hybrid

About The Position

With a company culture rooted in collaboration, expertise and innovation, we aim to promote progress and inspire our clients, employees, investors and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short, We Enable Possibility℠. Position Overview The Shared Services Team is seeking a new team member who thrives in a highly collaborative team-oriented environment. The Claims Compliance Analyst will report directly the Vice President of Claims Compliance. The Compliance Analyst position requires supporting the Claims organization with all facets of general compliance requirements, including audits, regulatory reporting and responding to compliance related inquiries.

Requirements

• General P&C claims knowledge, adjusting experience preferred
• Efficient organization and project management skills
• Familiarity with the suite of Microsoft products such as Excel, Word, PowerPoint, etc.
• Ability to effectively communicate ideas, issues and solutions.
• Bachelor's degree required
• 2 + years Commercial Lines Claims Experience
• Ability to communicate effectively with internal and external business partners as well as state regulatory authorities
• Familiarity with Medicare Secondary Payer (MSP) and Section 111 Reporting

Responsibilities

• Audit Coordination Serve as an initial contact and assist with the coordination of Claims Audits that are conducted by the various State DOIs. Will serve as primary intermediary between the business, handling entity, and the State Departments.
• Receive and interpret preliminary audit requests by the State Departments.
• Analyze and assess audit reports that are issued by the State Departments to identify performance issues.
• Communicate the results to Arch Claims Senior Leadership TPA Corporate Contacts (if applicable).
• Assist with the review of state report cards and metrics on claims processing and reporting and work with TPAs and Arch staff to remediate any issues.
• Regulatory Reporting Gather data from TPAs and/or Arch data reports to prepare Compliance managed regulatory reports and data calls.
• Timely submit state specific annual/quarterly reports where required.
• Review and analyze Claims Bulletins related to Regulatory Reports, communicate internally and/or to the TPAs as needed, and monitor implementation of new requirements where appropriate
• Assist with Electronic Data Interchange (EDI) reporting
• Other Compliance Activities Support maintenance of compliance library and claims correspondence
• Provide compliance support for Medicare Reporting
• Assist with internal audit and regulatory reviews
• Other ad hoc compliance related tasks, as needed.

Benefits

• multiple medical plans plus dental, vision and prescription drug coverage
• a competitive 401k with generous matching
• PTO beginning at 20 days per year
• up to 12 paid company holidays per year plus 2 paid days of Volunteer Time Offer
• basic Life and AD&D Insurance as well as Short and Long-Term Disability
• Paid Parental Leave of up to 10 weeks
• Student Loan Assistance and Tuition Reimbursement, Backup Child and Elder Care

What This Job Offers

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