Underwriting Compliance Specialist

Ryan Specialty•Remote - North Carolina, NC

26d

About The Position

The Underwriting Auditor is responsible for planning and conducting audits of underwriting processes to ensure compliance with regulations and policies and identifying key risk areas. The role communicates findings to stakeholders, ensures regulatory compliance, and engages in continuous monitoring to enhance underwriting practices. They implement audit procedures, evaluate risks, and maintain accurate records, conducting regular audits to assess compliance and provide insights for improvement.

Requirements

Minimum of 5 years of experience in Insurance Industry or Underwriting with a Bachelor’s degree, or minimum of 3 years of experience and a Master’s degree.
Bachelor’s degree required, Master’s degree preferred; Finance, Business Operations and Risk Management preferred.
Any other related discipline or commensurate work experience considered.
Minimum requirements for state P&C and/or surplus line licenses

Nice To Haves

Certified Internal Auditor (CIA)

Responsibilities

Plans and organizes audits of underwriting processes to ensure compliance with regulatory requirements, company policies, and industry standards.
Develops an understanding of underwriting practices and policies, identifying key risk areas within the underwriting function.
Develops and implements audit procedures to evaluate the effectiveness of underwriting practices and adherence to established policies.
Conducts regular audits of the underwriting processes, policy issuance, and claims handling to assess compliance and identifies areas for improvement.
Evaluates the risks associated with underwriting practices, policies, and procedures, assessing the adequacy of controls in place.
Maintains accurate and up-to-date records of underwriting audits, compliance assessments, and related documentation.
Ensures that all relevant documentation is organized and accessible for internal and external audits.
Prepares and submits regular reports on the status of underwriting compliance and audit activities to management and regulatory authorities.
Provides insights and recommendations for improvements based on audit findings, contributing to enhanced underwriting processes.
Communicates audit findings, recommendations, and compliance issues to relevant stakeholders, including underwriters, brokers, and management.
Ensures that underwriting practices comply with regulatory requirements, industry standards, and company policies.
Engages in continuous monitoring of underwriting activities, staying informed about changes in regulations and industry best practices.