Senior Manager - Insurance Regulatory Compliance

The Senior Manager, Regulatory Compliance, provides oversight, management and guidance to ensure the company's insurance operations are conducted in compliance with company policies/guidelines and legal/regulatory requirements. Additionally, this position is responsible for building and maintaining a proactive compliance program to identify and resolve potential compliance exposures in order to enhance Topa's reputation in the regulatory arena and minimize regulatory risk. Key compliance functions including consumer complaint handling, market conduct exam coordination, regulatory inquiries, compliance audit function, producer compliance, and regulatory research.

ESSENTIAL FUNCTIONS AND RESPONSIBILITIES:

Regulatory Compliance

· Responds to regulatory inquiries and administrative actions related to company policies and procedures and compliance with state-specific regulations, including management of market conduct examinations.

· Manages the compliance audit function, which includes state compliance audits, targeted audits, and the review of previous market conduct findings to assess current regulatory/market conduct exposures across the various lines of business and jurisdictions.

· Partners with internal departments to establish action plans for corrective action of examination criticisms and/or audit findings; implements action plans and monitoring activities.

· Responsible for tracking, distributing, researching and responding to the Department of Insurance, the Better Business Bureau, and direct written consumer complaints.

Operational Compliance

· Development and maintenance of the Line of Business Compliance Program

· Ensure company processes, programs and materials are in line with regulations.

· Assist in monitoring day-to-day insurance company operations to ensure compliance with applicable laws, rules, and regulations.

· Respond to line of business regulatory inquiries.

· Utilize experience with commercial products and back office operations to provide compliance guidance and practical solutions to business partners.

· Analyzes compliance risks and exposures both internal and external to Topa; prioritizes and develops an internal audit plan to assess compliance risks

· Manages the Agency/Broker/Producer compliance with state regulations.

· Manages relationships with various compliance vendors including, Kaplan Financial, National Insurance Producer Registry (NIPR), Wolters Kluwer, ODEN, and ceu.com.

· Assist with new product development and associated regulatory filings

Compliance Research

· Utilize compliance trends and data to identify business processes for review.

· Conducts research into laws and regulations, complete reviews, make recommendations, and oversee implementation of changes as necessary.

· Track and assess new and emerging legislation for the impact on the Company’s business, review business and industry trends to identify existing or emerging compliance issues.

· Develop and maintain a Regulatory Change Management process (evaluate, disseminate, and monitor relevant insurance laws and regulations throughout Topa).

POSITION QUALIFICATIONS:

• Bachelor’s required;
• Prior experience working with or for a Department of Insurance is preferred.
• Strong understanding of insurance laws and regulations.
• Effective written and oral communication skills with the ability to interact well with internal and external resources at all levels.
• Five years professional experience in regulatory compliance within the property and casualty insurance industry.
• Substantial knowledge of regulatory compliance processes and the application of state and federal laws to our business.
• Strong written and verbal communications skills.
• Ability to balance multiple inquiries and competing demands utilizing a positive coaching approach with employees.
• Proficient in the use of computer programs, including Word, Excel, Access and Outlook.
• Independent decision maker – takes full responsibility for making decisions and consequences associated with decisions.
• Strong interpersonal skills, good judgment and be capable of communicating with a diverse range of individuals.
• Ability to develop and maintain productive relationships with clients, business partners and organizational peers with a focus on timely and meaningful exchanges of information.
• Demonstrates inner strength. Has the courage to do the right thing and demonstrates it on a daily basis.
• Must demonstrate a desire for continued professional development through continuing education and self-development opportunities.