The Compliance Manager will manage PetFirst’s underwriting relationships with our admitted and surplus lines carriers. This position is also responsible for working with our underwriting partners in the development of and adherence to rates, forms, and underwriting rules as well as ensuring that all agency, agent and adjuster licensing is current and conforms to all applicable regulatory agencies. Additionally, this position is responsible for all matters of regulatory compliance.
Status: Full Time
Reports to: CFO
Essential Duties and Responsibilities:
- Manage contract requirements with admitted and non-admitted carriers.
- Manage licensing of agency, individual agents and surplus lines brokers including agent appointments.
- Conduct audits to ensure all pet insurance policies are correctly underwritten, processed, adjudicated, and documented in compliance with regulatory standards and requirements.
- Ensure all marketing materials, policy documents and policyholder communication meet the regulatory specifications outlined by PetFirst’s carriers.
- Conduct regular reporting and analysis on risk management statistics including loss ratio maturation.
- Oversee development and approval of surplus lines tax reporting and annual reporting for business licensing in multiple states.
- Draft, review and submit all responses to DOI complaints and BBB complaints.
- Manage underwriting audits from admitted carriers and surplus lines companies.
- Oversee business insurance products and conduct periodic reviews to test that the policies are sufficient to meet the company’s needs and are priced appropriately.
- Collaborate with other team members to ensure consistent application of compliance standards.
- Provide guidance on customer complaints and appeals.
- Perform all other duties as assigned.
Essential Knowledge, Skills, and Abilities:
- Proven experience in insurance underwriting, claims and risk management.
- Strong work ethic with the ability to self-start, prioritize, and multi-task.
- Ability to operate in a fast-paced, multi-tasking environment with deadlines.
- Strong written and verbal communication skills.
- Excellent attention to detail.
- Strong computer skills including MS Word, Outlook and Excel.
- Ability to proactively identify problems and resolve them quickly and efficiently.
- Proven history of adherence to policies, procedures, and guidelines.
- Thorough understanding of insurance risk management.
Beneficial Knowledge, Skills, and Abilities:
- Insurance agency or carrier experience.
- Property and casualty insurance industry experience.
- State insurance regulatory experience.
- Bank reconciliations and other financial modeling experience.
- Bachelor’s degree in business, insurance or finance.
- 5 years’ experience in a compliance or risk management role.