Director of Regulatory Compliance and Licensing
Director of Regulatory Compliance and Licensing
Hallmark Financial is a specialty property and casualty insurance holding company with a diversified portfolio of insurance products written on a national platform. With six insurance subsidiaries and offices in Dallas, San Antonio, Chicago, Jersey City and Atlanta, Hallmark Financial markets, underwrites and services over $750 million annually in commercial and personal insurance premiums in select markets. Hallmark Financial is headquartered in Dallas, Texas and its common stock is listed on NASDAQ under the symbol "HALL."
As Hallmark continues to grow, we strive to find talented, innovative and creative professionals to join our team. We offer very competitive compensation and benefit packages combined with a team atmosphere that encourages independent initiative and professional growth.
Position Title: Director of Regulatory Compliance and Licensing
The Director of Compliance manages compliance initiatives, including the design, development and implementation of all appropriate controls and processes required to comply with federal and state insurance regulations as applicable to insurance holding company systems. This person works closely with business leaders and executive management to ensure achievement of company goals and initiatives in compliance with applicable laws and regulations. The Director of Compliance will manage the compliance team and will interact with insurance regulators and industry representatives.
- Provide oversight of operational areas to ensure appropriate and adequate policies and procedures are in place relating to compliance matters.
- Monitor changes to regulatory requirements, communicate changes to appropriate operations within the Company and followup to ensure proper policies and procedures are implemented to adhere to new requirements.
- Facilitate all communication on behalf of the Company with regard to inquiries, examinations, and other similar requests from regulatory bodies.
- Serve as subect matter expert on current insurance laws and regulations and excalate issues to the company's attorney for review as necessary.
- Coordinate and provide oversight of all statutory and bureau reporting. Ensure timely submission of all data calls and other reporting.
- Research and provide answers to regulatory questions from operational areas as requested.
- Monitor the maintenance of appropriate Line of Business Authority for each Hallmark insurance carrier.
- Oversee agents and carriers licensing.
- Monitor product, rate, and form filings performed by the compliance team and ensures timely completion of projects.
- Oversees the timely review and distribution of bulletins, orders, and similar regulatory communications by the compliance team and addresses questions relative to same.
- Interact with the industry association.
- Perform research of applicable laws and regulations.
- Prepares weekly and monthly reports.
- Draft miscellaneous documents such correspondence with regulators as well as internal and external stakeholders, summaries of regulations, power point presentations, and similar material.
- Works on special projects as assigned.
- Oversees vendors that provide compliance services and goods and vendors assigned for monitoring to the department.
- Manages employees within the compliance department, performs HR reviews and other performance evaluatons as needed.
- Assist the department's VP on proejcts as assigned as well as the CAO.
- Collaborate with IT, Shared Services, and other groups on compliance-related matters and other projects.
- Participate in meetings of the Information Secuirty Committee.
- Interacts with auditors, often times serving as primary point of contact for data calls, requests, etc.
This position operates with a high level of independence.The individual performing this job should be confident in his/her decision-making abilities and have a good understanding of when issues need to be elevated for discussion. This position also requires the ability to understand the sensitive nature of project and duties of the department and the ability to maintain confidentiality of information as assigned.
This position has supervisory responsibility for the staff within the compliance unit.
Education, Experience, Knowledge and Skills:
- Bachelor's degree from a four-year college or university (or 10 years of related experience) and 10+ years of experience in the P&C insurance industry.
- Specific and detailed knowledge of P&C insurance industry and practices relative to regulatory insurance compliance.
- Experience managing a compliance department within a P&C insurance company.
- Knowledge of insurance company bureau reporting requirements.
- An in-depth understanding of insurance licensing rules and processes for both carriers and agents and of admitted and non-admitted regulations.
- Prior working knowledge of how to work with and manage regulatory service vendors.
- Ability to work in a a team environment and be flexible to daily changing needs and job duties.
- Ability to analyze and problem solve working closely with others to coordinate and complete projects.
- Excellent oral, written and interpersonal communication skills.
- Microsoft Office Skills required and competent understanding of policy management systems and tools highly preferred.
- Research skills required with knowledge of Wolters Kluwer, Reference Connect, Lexis or Westlaw highly preferred.
- Strong analytical skills and ability to communicate with different audiences including executive management.
- Knowledge of privacy regulations including CCPA highly preferred.