Compliance Specialist

Chubb•Chicago, IL

26d•$94,000 - $136,000

About The Position

The Compliance Specialist is responsible for supporting the regulatory compliance function of Combined Insurance. The Compliance Specialist will maintain an effective regulatory compliance program by conducting audits, assisting with Compliance Assurance Reviews, ensuring robust compliance standards, raising awareness of compliance issues, implementing controls to monitor and prevent compliance deficiencies. This individual will report to the Compliance Officer.

Requirements

Demonstrated understanding of the insurance regulatory environment;
Strong analytical and technical skills in using data analytics to review audit results and data and understand “root causes” of compliance deficiencies and effectiveness of controls;
Demonstrated ability to develop relationships with both internal and external stakeholders;
Ability to consistently execute and deliver results;
Ability to manage multiple projects in a dynamic constantly changing environment;
Strong knowledge of MS Project, Excel, PowerPoint Word; and legal/compliance research tools.
3 years of insurance industry experience, preferably in the areas of accident and health related products;
3 years’ experience in compliance/regulatory experience including compliance auditing, monitoring and testing

Responsibilities

Execute the compliance strategy;
Audit business for compliance with a focus on claims and operations monitoring, and including ensuring the implementation of regulatory requirements, policies, and controls, and establish remediation plans for audit findings;
Develop and maintain relationships with, and provide timely guidance and advice to, business partners;
Partner with the Compliance Officer to ensure that compliance guidance is implemented, action plans are completed timely, and that proper controls are in place and effective;
Ability to assist business partners in ensuring timely and accurate implementation of new regulatory requirements and controls;
Conduct regular monitoring and testing of compliance controls in place;
Oversee and advise on effective controls related to the monitoring of third parties;
Report and escalate compliance issues and developments as required;
Assist the Compliance Officer in compliance reporting requirements to various stakeholders;
Assist the Compliance Officer with preparing data files, reports and spreadsheets in response to internal and external data and reporting requests.