Senior Business Process Compliance Specialist

Markel Service • Glen Allen, VA

301d • $73,600 - $122,600 • Remote

About The Position

The Senior Business Process Compliance Specialist is responsible for supporting the Markel US Insurance Division efforts to ensure compliance with state laws and regulations as they relate to the management of the insurance policy lifecycle business process. This will be accomplished by leading reviews of underwriting business process, assessing the organizations compliance controls, communicating compliance concepts to internal and external partners ensuring the accurate implementation of business processes by imposing controls to meet Enterprise Risk Management standards. Support the department's efforts to ensure compliance with state insurance regulations. Review changes to proposed business processes for alignment with state regulations. Analyze existing underwriting processes and develop recommendations to improve the Division's compliance with policy lifecycle regulations. Accurately and thoroughly interpret state laws. Propose changes in business processes to align Markel practices with state regulations. As regulatory changes occur, determine impact on company practices and operations, including the compatibility of Markel products with bureau (ISO, AAIS, etc.) changes. Assist with the team's efforts in the preparation and execution of internal and external initiated compliance examinations. Support the department's efforts to communicate compliance concepts. Draft product requirement documents to be used by information technology partners that outline compliant business processes to be implemented into the company's policy administration systems. Provide compliance requirements to ensure that policy issuance systems adhere to state regulations, including changes to the company's rates, rules and forms. Assist in the preparation of implementation 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 for the timely and accurate implementation of products. Review product specification documentation for implementation efforts. Review rate, rule and form product implementations and perform quality assurance and testing in accordance with project scope and delivery dates; analyze results and work with information technology partners to correct deficiencies prior to implementation. Provide rate, rule and form product specification documents to external Program Administrators and Digital Partners. Impose controls to meet Enterprise Risk Management standards. Assist, mentor, coach and proactively share knowledge in area of expertise with other associates to build the base of organizational knowledge within PRS and Markel. Participate in educational opportunities to enhance job related skills and knowledge.

Requirements

• Minimum 5 years of experience in insurance regulatory compliance.
• Knowledge of multiple property and casualty insurance coverages.
• Working knowledge of insurance advisory organizations including ISO, NCCI and AAIS.
• Knowledge of insurance compliance, including the rate and form state filing process.
• Demonstrate strong quantitative and analytical skills.
• Use both written and verbal communication skills effectively.
• Plan and organize activities to maximize efficiency and productivity.
• Ability to work effectively both individually and as part of a team.
• Proficient in MS Office Products including Word and Excel.

Responsibilities

• Lead reviews of underwriting business processes.
• Assess the organization's compliance controls.
• Communicate compliance concepts to internal and external partners.
• Ensure accurate implementation of business processes by imposing controls.
• Support compliance with state insurance regulations.
• Review changes to proposed business processes for alignment with state regulations.
• Analyze existing underwriting processes and develop recommendations.
• Interpret state laws accurately and thoroughly.
• Propose changes in business processes to align with state regulations.
• Determine impact of regulatory changes on company practices and operations.
• Assist with preparation and execution of compliance examinations.
• Draft product requirement documents for IT partners.
• Provide compliance requirements for policy issuance systems.
• Assist in preparation of implementation notices for underwriting processes.
• Act as a liaison for compliance topics with underwriting teams.
• Provide responses to internal compliance inquiries.
• Support timely and accurate implementation of products.
• Review product specification documentation for implementation.
• Perform quality assurance and testing for product implementations.
• Provide product specification documents to external partners.
• Impose controls to meet Enterprise Risk Management standards.
• Mentor and coach associates in compliance knowledge.
• Participate in educational opportunities to enhance skills.

Benefits

• Multiple health, dental and vision insurance plan options.
• Optional life, disability, and AD&D insurance.
• 401(k) with employer match contributions.
• Employee Stock Purchase Plan.
• PTO, corporate holidays and floating holidays.
• Parental leave.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Industry: Insurance Carriers and Related Activities
• Education Level: Bachelor's degree