Solid reputation, passionate people and endless opportunities. That's Travelers. Our superior financial strength and consistent record of strong operating returns mean security for our customers - and opportunities for our employees. You will find Travelers to be full of energy and a workplace in which you truly can make a difference.
This position has leadership accountability for the overall management of the business group (BI Product & Platform: BIPP) compliance, with state and federal laws, regulations and related company policies with accountability for business results for areas including Product and Platform Development (including but not limited to rules, form filings & implementations, proof of coverage, etc.). Ongoing compliance controls, engagement in prioritization of strategic enhancements and defects which have compliance consideration. Represents BI Product & Platform with key partners to support responding to market conduct requests, corporate audit, organizations' fraud and risk assessment, etc. Protects Company exposure on compliance related matters. This job is a Manager: Responsible for setting work objectives and goals for employees and managing their performance. Typically involved in compensation decisions. Employees have a formal reporting relationship to this job. This job works under General Direction: Establishes procedures for attaining specific goals and objectives in a broad area of work. Generally final results are reviewed. (Typically applies to a manager or expert/top level professional.)
Primary Job Duties & Responsibilities
Develop, direct, implement and enforce BI Product & Platform compliance strategies to ensure alignment with state and federal laws, regulations and related company policies. Establish adequate and effective transaction monitoring and auditing systems. Clarify policies and the education and training of all organization levels as to the requirements involved. Oversees the reporting of findings and the proactive remediation of any non-compliance Product & Platform conditions found. Provide consulting support to senior Product & Platform management in the identification of operating procedures, product development, etc. Work closely with the Law Department and other areas in compliance matters. Create and advance a consistent approach to compliance across BIPP. Develop BIPP Compliance Governance Council with escalation model for BIPP Executive Team. Analytics: Increase rigor around evaluation the costs and benefits of related activities (i.e., Activity Based Costing Model); Develop Compliance Dashboard with enhanced access to data/analytics for regular reporting and increased transparency Works closely with Actuarial partners (pricing, rate) and other key stakeholders to develop SLA and gain agreement from partners around decision making Identify Fast Path Model (i.e., assess risk complexity, response time, escalation process). Initiates and manages change that impacts the work group/department. Develop action plans in response to exam results and coordinate with the Corporate Audit area to ensure effective and timely follow-through and recommend corrective action as appropriate. Keep abreast of industry/compliance trends and recommend/implement changes to internal company processes as needed. Engage in Business Continuity & record retention for the assigned unit Manages use of outside vendors and consultants products to facilitate compliance efforts - Possibility for process assessment in the future Provides reports and presentations to senior management as directed by Business heads. Assists Government Affairs on technical matters and provides representation of key issues impacting Product & Platform compliance (i.e. newer marketplace strategies - telematics). Directs and monitors record retention practices with respects to compliance. Maintains Product & Platform compliance web sites and other published materials related to compliance requirements. Perform other duties as assigned.
Eight years legal, compliance or insurance experience required.
Education, Work Experience & Knowledge
Business, insurance, risk management, audit, or legal experience. Exposure to federal and state guidelines, regulations and procedures. Knowledge of the regulatory environment and company policies. Understanding of BI Compliance processes and best practice. Juris doctorate. Typically 10+ years' experience in business, insurance, risk management and/or audit areas. Proven leadership and management experience. Strong communication and negotiation skills. Solid knowledge of the insurance and regulatory environment.
Job Specific & Technical Skills & Competencies
Excellent verbal and written communication skills at all levels across the organization especially external contacts. Strong interpersonal skills and ability to represent the company as its spokesperson. Proven ability to work in a sensitive environment and promote the company image. Leading the Business: Executes Business Strategy Leads Change Drives Results Promotes Enterprise Culture Leading Others: Attracts Top Talent Maximizes Individual and Organizational Performance Holds Other Accountable Aligns Rewards Creates and Sustains a Dynamic Workplace Leading Self: Exhibits Courage, Conviction, and Credibility Communicates Effectively and Influences Others Applies Critical Thinking Demonstrates Self-Awareness Leadership: Proven leadership and management experience - executes strategy, leads change, and drives results; Ability to work in a sensitive work environment and promote BIPP core values Executive Presence: Can determine the best way to get things done with Senior Leaders them by talking their language and responding to their needs; Willing to champion an idea or position Communication Skills: Strong interpersonal skills and ability to represent BIPP as its spokesperson on compliance topics; Provides key partners concise information on complex topics so they can make accurate decisions Influencing/Negotiation: Works effectively with other people over whom he or she has no direct authority; Is skilled at communicated upwards on sensitive topics, persuading Senior Leaders
Operates standard office equipment (Frequently) Sitting (Can stand at will) (Frequently) Use of Keyboards, Sporadic 10-Key (Frequently)
Equal Employment Opportunity Statement
Travelers is an equal opportunity employer.
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