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Senior Regulatory Specialist in Lansing, MI at AF Group

Date Posted: 7/2/2018

Job Snapshot

Job Description



SUMMARY:



Regulatory Specialist:

This is the entry level of the Regulatory Services career path. In a developing capacity, the Specialist assists with regulatory rate and form filing processes, conducts basic research and monitoring activities related to the regulatory environment, and begins to learn the tools and procedures used in the department.

Regulatory Specialist II:

This is the intermediate level of the Regulatory Services career path. With moderate supervision, the Specialist II performs regulatory rate and form filings using information provided by others, analyzes regulatory changes and makes recommendations regarding appropriate course of action.

Senior Regulatory Specialist:

This is the experienced level of the Regulatory Services career path. With little supervision, the Senior Specialist prepares and executes regulatory filings, monitors compliance activities, communicates relevant information and recommendations, and participates in moderately complex projects as assigned. Mentors and peer reviews the work of Regulatory Specialists.



RESPONSIBILITIES/TASKS:

(Brief bullet points detailing the tasks for this position)


  • Assist in researching, compiling, and assimilating filing components
  • Assist in preparation of regulatory filings and other documents
  • Learn and use the National Association of Insurance Commissioner's SERFF program (System of Electronic Rate and Form Filing)
  • Prepare rate, rule and form filings from information provided by others on the team
  • Respond to basic insurance department objections and provide explanations of actuarial exhibits
  • Communicate and monitor changes to rates, rules, and forms with system administrators to ensure systems are compliant with filed plans in individual states
  • Research and review the laws and regulations for all jurisdictions pertaining to rate, rule, and form filings and other initiatives that impact our business
  • Monitor changes to laws and regulations and communicate updates with the Manager to help ensure the Company is operating within regulations
  • Coordinate with other departments to improve regulatory compliance within the framework of established rules and regulations
  • Monitor industry communications (emails, web sites, etc.) and communicate updates to the business as needed or directed
  • Administer Rating Bureau websites for company personnel
  • At the direction of the Manager, research questions and/or concerns regarding insurance regulatory reporting
  • Comply with the letter and spirit of all anti-trust laws governing the regulation of insurance
  • Act with personal and professional integrity and objectivity in all aspects of the job
  • Maintain confidentiality of information
  • Assist with administrative duties for the department as necessary

    Additional Responsibilities/Tasks for REGULATORY SPECIALIST II:


  • Assemble and distribute detailed information for programming rates, rules, forms, and related system functionality
  • Analyze the impact of changes to state laws and regulations and recommend plans of action
  • Prepare filings including rates, actuarial exhibits, forms and objection responses using provided information
  • Address other departments' questions and concerns regarding rates, rules, or regulatory reporting

    Additional Responsibilities/Tasks for SENIOR REGULATORY SPECIALIST:


  • Monitor the accuracy of premium algorithms for compliance with jurisdictional rules
  • Monitor the implementation of policy forms and endorsements to ensure timeliness of changes
  • Represent the enterprise to NCCI (National Council of Compensation Insurance), other rating bureaus, and other regulatory entities
  • Communicate changes that impact procedures or pricing (e.g. loss cost and rule changes) to appropriate business areas
  • Assist in activities related to corporate expansion (e.g., licensing and filing) as directed
  • Train and peer review the work of Regulatory Specialists





    EMPLOYMENT QUALIFICATIONS:



    EDUCATION OR EQUIVALENT

    EXPERIENCE:



    Bachelor's degree in insurance, business or a related field. Combinations of relevant education and experience may be considered. IIA or CPCU designation a plus. Continuous learning, as defined by the Company's learning philosophy, is required. Certification or progress toward certification is highly preferred and encouraged.



    EXPERIENCE:



    With proper education credentials, two years of relevant insurance experience which provide the necessary skills, knowledge and abilities. Prior experience with workers' compensation and multi-state insurance preferred. General understanding of workers' compensation business functions is a plus.

    Additional Experience for the REGULATORY REPORTING SPECIALIST II:

    With proper education credentials, a minimum of three years of insurance, regulatory, underwriting or related relevant experience required. Workers' compensation insurance experience and exposure to multi-state insurance required. Working knowledge of SERFF required.

    Additional Experience for the SENIOR REGULATORY REPORTING SPECIALIST

    With proper education credentials, a minimum of five years of insurance, regulatory, underwriting or related relevant experience required. Strong knowledge of SERFF required.

    Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled