Regulatory Compliance Specialist

Markel•Richmond, VA

20h•$62,400 - $85,800•Remote

About The Position

The Regulatory Compliance Specialist is responsible for supporting the Markel US Insurance Division efforts to ensure compliance with state laws and regulation as they relate to the management of the insurance policy lifecycle; obtain regulatory approval of its rates, rules and forms; and communicate compliance concepts to internal partners ensuring the accurate implementation of underwriting processes.

Requirements

US Work Authorization required.
Markel does not provide visa sponsorship for this position, now or in the future.

Responsibilities

Submit rate, rule and form filings to state departments of insurance in accordance with state requirements within agreed upon time frames.
Develop responses to questions posed by the State Departments of Insurance that arise throughout the filing process.
When a conflict exists between the state’s and company’s objectives, find a resolution that minimizes the impact to the original underwriting intent.
Secure regulatory approval of state rate, rule and form filings in a timely fashion.
Support the department’s efforts to communicate compliance concepts.
Prepare filing notices outlining changes to existing underwriting processes, including changes to the company’s rates, rules and forms.
Act as a liaison for compliance topics with underwriting teams. Provide responses to internal compliance inquiries that successfully communicate the department’s compliance requirements.
Support the department’s efforts to ensure compliance with state insurance regulations.
Accurately and thoroughly interpret state laws in assigned states.
Review bulletins distributed by advisory bureaus (ISO, AAIS, etc.) and state departments of insurance within acceptable service level standards, evaluating if there is any impact to existing company processes.
As regulatory changes occur, determine impact on company practices and operations, including the compatibility of Markel products with bureau (ISO, AAIS, etc.) changes.
Coordinate, investigate and respond to consumer/insurance department complaints consulting with manager, legal department and appropriate underwriting division.
Participate in the preparation and execution of internal and external initiated rate, rule and form compliance examinations.
Maintain procedures to ensure the integrity of business practices in assigned states.
Support the department’s efforts to obtain regulatory approval of its rates, rules and forms.
Strategize acceptable approaches to accomplish the rate, rule and form objectives of the company.
As needed, modify countrywide rate, rule and forms so that they are in compliance with regulations of each state.