Compliance Analyst, Senior Compliance Analyst, Lead Compliance Analyst
At Liberty Mutual, our purpose is to help people embrace today and confidently pursue tomorrow. That's why we provide an environment focused on openness, inclusion, trust and respect. Here, you'll discover our expansive range of roles, and a workplace where we aim to help turn your passion into a rewarding profession. We value your hard work, integrity and commitment to make things better, and we put people first by offering you benefits that support your life and well-being. To learn more, please visit https://www.libertymutualgroup.com/about-lm/careers/benefits
Liberty Mutual has proudly been recognized as a “Great Place to Work” by Great Place to Work® US for the past several years. We were also selected as one of the “100 Best Places to Work in IT” on IDG's Insider Pro and Computerworld's 2020 list.
We have been named by Forbes as one of America's Best Employers for Women and one of America's Best Employers for New Graduates—as well as one of America's Best Employers for Diversity. To learn more about our commitment to diversity and inclusion please visit: https://jobs.libertymutualgroup.com/diversity-inclusion
Liberty Mutual is an equal opportunity employer. We will not tolerate discrimination on the basis of race, color, national origin, sex, sexual orientation, gender identity, religion, age, disability, veteran's status, pregnancy, genetic information or on any basis prohibited by federal, state or local law.
This is a range posting, level will be determined based on experience.
Advance Your Career at Liberty Mutual Insurance - A Fortune 100 Company! Compliance Analyst – Product Management
Here is your opportunity to join a mature compliance department, poised to adapt and grow with a dynamic organization aspiring to be a top 3 global property & casualty company. Join us as we partner with GRM Product leaders and their teams to fulfill our shared purpose of helping people embrace today and confidently pursue tomorrow.
In this role, you will provide expert compliance consultation, superior analysis and project management support to our business partners across the organization, including: Directors of State Operations, field and home office underwriting teams, as well as product development, modeling and implementation teams. You will provide compliance support for product development, be responsible for regulatory change management, engage with external regulators and directly support the organization's compliance risk assessment program.
- Conducts moderate- to high-complexity research to provide business impacts, risk identification and detailed recommendations to improve and streamline compliance controls.
- Takes a proactive role in identifying process and control deficiencies and helps to execute process improvement initiatives.
- Drive regulatory or statutory change-driven revisions in assigned states as needed, including process changes, rating or underwriting guidelines or manual updates, as well as systems changes as necessary; collaborate on other required revisions. Own communication of regulatory changes and/or direction to impacted stakeholder groups including issuing organizational bulletins, and coordination of post implementation cross checks.
- Independently performs complex internal compliance audits and risk assessments, including documentation, process flows, and testing. Generate reporting to track changes and results. Drive development of recommendations to help improve the compliance and efficiency of the business. Act as a thought partner with the business in their effort to address noted concerns.
- Responds to internal product, underwriting and rating compliance inquiries. Independently research questions regarding regulations, products, filing, forms, rules, and competition. Provide business impacts and detailed recommendations to improve and streamline compliance controls.
- Independently researches and develops response to complaints, inquiries and/or investigations from Departments of Insurance, Regulatory Agencies, customers and other interested parties.
- Facilitates Market Conduct Exams, Regulatory Investigations and Data Calls. Ensures timely and accurate responses are provided to regulators - may include direct engagement with regulatory examiners. Ensures all corrective actions are clearly documented and efficiently remediated as required.
- Consults with product management, underwriting, distribution, and claims management to keep field abreast of changes. Acts as a thought partner with compliance and business leaders alike to drive department tactics and strategy development.
- May provide project management and program support for quality assurance programs, including attestation, questionnaire design, calibration exercises, and management reporting.
- Monitors tasks and timelines, evaluates risks, provides recommendations, defines measures of success, develops and coordinates solutions.
- Serves as a team member on moderate-to high-complexity projects and frequently leads own work stream.
- Frequently prepares and delivers presentations to senior management.
- May be assigned to mentor a new hire or intern, depending on experience.
- Bachelor's Degree in an analytical discipline such as Mathematics, Statistics, Economics, Business, Finance or qualitative subject such as Legal/Political Science/Insurance and some experience with quantitative analysis preferred.
- Minimum 3-4+ years of business analysis and/or insurance related experience, commercial insurance experience is a plus.
- Knowledge of insurance principles and concepts required. Technical and regulatory knowledge of insurance is a plus.
- Ability to work independently and lead others during projects a must.
- Advanced analytical/problem solving and research skills
- Strong planning, organizational, analytical, decision making and communication skills; must be able to lead meetings and effectively summarize and prioritize topics.
- Ability to influence management and stakeholders.
- Attention to detail, with the ability to manage multiple priorities while working in a fast-paced environment
- Excellent written and oral communication skills are required