Sr. Regulatory Reporting Analyst (Remote)

Selective Insurance Company of America

1d • Remote

About The Position

The primary responsibility of the Senior Regulatory Reporting Analyst is to determine and ensure the accurate and timely completion of state and regulatory reporting requirements to external state and national regulatory agencies, and other reporting bodies. This role maintains responsibility for compliance with all reporting requirements, including accurate data and timely response to ensure no fines are imposed. The position also includes effectively formulating and defining reporting requirements, and testing for product changes, enhancements, and bureau updates. All job duties and responsibilities must be carried out in compliance with applicable legal and regulatory requirements.

Requirements

• Excellent analytical and logic skills.
• Knowledge of commercial and personal P&C insurance products and insurance department requirements and processes.
• Proven ability to problem-solve independently, as well as work in a team environment.
• Intermediate to advanced Microsoft Excel skills required.
• Knowledge of Financial Statements (Annual Statements, Statutory Page 14’s, and Insurance Expense Exhibits) desired. Excellent communication skills with the ability to work with others as a team player as well as independently on individual tasks and projects.
• Strong interpersonal and collaboration skills with the ability to achieve results within and across diverse organizational units and disciplines.
• Strong sense of individual ownership and accountability.
• College Degree or equivalent work experience.
• 7+ years previous work experience with a commercial Property and Casualty Insurance carrier
• 7+ years Statistical/Regulatory Reporting experience or equivalent experience required.

Nice To Haves

• Prior familiarity and experience with the ISO web-based edit package application desired.
• CPCU coursework or IDMA certification
• Prior Actuarial or Accounting experience
• Strong familiarity with statistical coding a plus.
• Experience with SQL, COGNOS, or PowerBI

Responsibilities

• Responsible for the timely and accurate submissions of Commercial and Personal lines of business statistical and regulatory reporting requirements to state departments of insurance, ISO, MA CAR, SFAA, NCCI and independent Workers’ Compensation and other statutory and regulatory entities.
• Analyze the impact to regulatory reporting work processes due to new product offerings, systems changes, or changes to regulatory reporting requirements, and work in collaboration with various business areas, business analysts, IT, and other stakeholders throughout the organization to ensure data is reported in a timely and accurate fashion.
• Evaluate data discrepancies and data quality issues affecting reporting to identify the root cause, document and communicate requirements to resolve issues, perform user acceptance testing, and approve implementation of changes.
• Respond to internal inquiries, and regulatory and statistical organizations edits, criticisms, and inquiries from the within the required timeframe.
• Reconcile regulatory reported and financial data and analyze and investigate anomalies.
• Stay current with regulatory requirements by reviewing and analyzing regulatory bulletins and circulars.
• Develop and maintain effective relationships with external parties, including ISO, MA CAR, SFAA, NCCI and state WC bureaus, state departments of insurance and trade organizations as appropriate in the course of Selective and industry response to data calls, interrogatories and market analysis.
• Understand the usage and relevance of company data sources and policy and claims admin systems in relation to regulatory reporting and ensure availability of statistical data for all relevant data sources and lines of business.
• Ensure procedures and workflows are well documented and kept current, author / alter procedure documents as needed to address new requirements, product changes and statistical changes.
• Proactively review and evaluate internal processes for effectiveness and efficiency identify alternative approaches and implement solutions to enhance the consistency, quality and timeliness of reporting.

Benefits

• Selective Insurance offers a total rewards package that includes a competitive base salary, incentive plan eligibility at all levels, and a wide array of benefits designed to help you and your family stay healthy, achieve your financial goals, and balance the demands of your work and personal life.
• These benefits include comprehensive health care plans, retirement savings plan with company match, discounted Employee Stock Purchase Program, tuition assistance and reimbursement programs, and 20 days of paid time off.
• Additional details about our total rewards package can be found by visiting our benefits page.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 501-1,000 employees