Chicago United States (US)
Program Business Analyst
Legal & Compliance
The Program Business Analyst works closely with the Operations and Compliance team to ensure that the Program Business activity and more specifically the insurance companies on which the business is written, comply with internal requirements and with state and federal laws and regulations. This includes the research and management of the compliance implications of new products and enhancements, as well as other corporate strategic initiatives.
The Program Business Analyst reviews and assesses regulatory changes, including premium and municipal taxes, and formulates policies, strategic plans, programs, standards, and techniques necessary to carry out specific objectives. For this, the Analyst will rely on his/her own knowledge and skillsets, as well as supporting functions within the corporation (i.e. Legal, Technical Accounting, Finance, Claims, Underwriting) and external consultants.
Key duties and responsibilities
Work closely with Compliance Coordinator in preparation of all SERFF filing requirements and supervise filing projects for admitted lines of business through to completion including with any external insurance support filing service provider when necessary.
Proactively monitor that MGA/PA licenses are adequately maintained.
Collaborate with Corporate Finance and Legal to develop guidance for taxes, surcharges, and fees.
Support Corporate Finance and Accounting in the preparation and reporting of taxes.
Contribute to data calls in coordination with Accounting, Claims and Legal.
Establish and maintain standard operating procedures for proper reporting and compliance monitoring to the jurisdictional Departments of Insurance.
Coordinate MGA/PA data and reporting requirements documentation/templates in line with SCOR process framework including, report mock-ups.
Engage with local state insurance authorities as needed with Program Business Compliance Coordinator
Build strong relationships within the business units and support functions to understand and service the business needs.
Work with end users to determine and document data requirements for various reporting and /or data mining requests.
Required experience and Education
5+ years of P&C Commercial Lines and/or Personal Lines (Auto, Home Umbrella) experience with a strong focus on regulatory Compliance. Experience in direct insurance and/or program business management preferred.
Strong knowledge of E&S and admitted insurance filings, taxes and licensing of agents, brokers and MGAs
Bachelor's degree or equivalent work experienc
Post-graduate degree and/or industry certification/designation a plus
Proven track record of creating clear, concise deliverables that reflect a deep understanding of business needs and data requirements.
Excellent problem-solving and analytical skills.
Experience operating and interfacing with business management, including presentation skills.
Excellent communication skills, both written and verbal. Understands communication channels and escalates appropriately.
Strong initiative; able to self-manage. Comfortable with ambiguity and able to work through it to get the right things done.
Must be able to see tasks through to completion without significant guidance.
Personal time management skills and ability to meet individual and team deadlines.
Experience using standard project and business tools including Word, Excel, PowerPoint, Project, SharePoint.
Team player who works well with technical and business resources.
Nearest Major Market: Chicago