Insurance Compliance Analyst

Penske•Reading, PA

About The Position

The Insurance Compliance Analyst manages the Rental Insurance Process, using Qlik to analyze and monitor an annual intake of approximately 75,000 certificates. The role identifies compliance gaps, risk exposures, and trends, and coordinates system updates and resolution strategies to support continuous insurance compliance across rental transactions. The analyst manages insurance compliance for active Interim accounts by reviewing new accounts and scheduled policy renewals, initiating certificate requests and revisions, and coordinating transitions from Interim to Full-Service Lease processes with the Genpact team. As the onshore subject matter resource for escalated customer deals referred by the Genpact offshore team, the analyst reviews and approves new, additional, and replacement equipment involving hazardous materials and high-risk cargo. The role evaluates insurance compliance requirements and determines whether Insurance Amendments to Vehicle Lease Agreements are necessary.

Requirements

At least 2 years of experience within an insurance company, insurance agent or broker, risk management, or an equivalent environment.
Bachelor's degree in Business Administration, Risk Management, Finance, Economics, Accounting, Statistics, or a related field; equivalent work experience is required if no degree.
Proficiency with Microsoft Office products.
Basic insurance knowledge.
Advanced research, analytical, and problem-solving skills.
Ability to find solutions to customer issues.
Ability to quickly learn numerous in-house and external information systems.
Excellent written and oral communication skills, including the ability to communicate internally and externally at all levels.
Ability to manage multiple priorities simultaneously.
Effective communication and presentation skills.
Excellent time management, organizational, and follow-up skills, with the ability to adapt to changing priorities.
Ability to work under pressure and meet deadlines.
Regular, predictable, full attendance is an essential function of the job.
Willingness to travel as necessary and work the required schedule at the specified location.
Must complete a Penske employment application and submit to a background investigation, including past employment, education, and criminal history, and drug screening.

Nice To Haves

Suggested Penske training in U.S. and Canadian insurance coverages and how they relate to business product lines.
Knowledge of insurance company ratings, hazardous material classifications, contract knowledge, and a basic understanding of Liability and Physical Damage coverage.
ARM, AIC, or CPCU designation.

Responsibilities

Manage the rental insurance renewal process and aging default cases.
Review escalated deals, hazardous-material cases, and sales prospecting questions.
Review Interim and extra insurance and rental activity dashboards, as well as team monthly dashboards.
Request certificates and review contracts or issue certificates for PTL, PL, and EPES.
Address compliance issues involving vehicle suspensions and distribute vehicle insurance ID cards.
Prepare monthly reporting as needed, including ORIC vehicle reporting for states such as FL, NY, NC, CA, and MD.
Review SOPs for GH-IRM and Genpact, conduct Genpact audits, and respond to insurance agent questions.
Coordinate system updates and resolution strategies to address insurance compliance gaps.
Review new Interim accounts and scheduled policy renewals, initiate certificate requests and revisions, and coordinate transitions to Full-Service Lease processes with Genpact.
Review and approve escalated deals involving new, additional, and replacement equipment, including hazmat and high-risk cargo, and assess insurance requirements and the need for Insurance Amendments to Vehicle Lease Agreements.
Complete other projects and tasks as assigned.