Create accurate and timely reporting and analysis of regulatory and licensing activities * Monitor ... Monitor surety bond expiration dates and ensure renewals are processed in a timely manner * Provide ...
Create accurate and timely reporting and analysis of regulatory and licensing activities * Monitor ... Monitor surety bond expiration dates and ensure renewals are processed in a timely manner * Provide ...
Create accurate and timely reporting and analysis of regulatory and licensing activities * Monitor ... Monitor surety bond expiration dates and ensure renewals are processed in a timely manner * Provide ...
Create accurate and timely reporting and analysis of regulatory and licensing activities * Monitor ... Monitor surety bond expiration dates and ensure renewals are processed in a timely manner * Provide ...
Create accurate and timely reporting and analysis of regulatory and licensing activities * Monitor ... Monitor surety bond expiration dates and ensure renewals are processed in a timely manner * Provide ...
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Create accurate and timely reporting and analysis of regulatory and licensing activities * Monitor ... Monitor surety bond expiration dates and ensure renewals are processed in a timely manner * Provide ...
Surety Analyst information
What is a surety analyst?
A Surety Analyst is a professional who evaluates and analyzes the financial stability and risk profiles of individuals or companies seeking surety bonds. Surety bonds are financial guarantees that ensure the completion of contractual obligations, often required in construction, government contracts, and other industries. The analyst reviews credit histories, financial statements, and project details to determine whether a bond should be issued and under what terms. Their work helps protect insurers from losses and ensures clients meet their obligations. Surety Analysts play a critical role in risk management for surety companies and their clients.
What are the key skills and qualifications needed to thrive as a surety analyst?
To thrive as a Surety Analyst, you need strong analytical skills, a solid understanding of financial statements, and a relevant degree in finance, accounting, or a related field. Familiarity with risk assessment tools, underwriting software, and proficiency in Microsoft Excel are typically required. Attention to detail, effective communication, and problem-solving abilities are standout soft skills in this role. These competencies are crucial for accurately assessing risk, ensuring sound underwriting decisions, and maintaining strong client relationships in the surety industry.
What are some common challenges faced by surety analysts in managing multiple bond requests simultaneously?
Surety Analysts often handle numerous bond requests from various clients at the same time, each with distinct requirements and deadlines. Balancing these tasks requires strong organizational skills and the ability to prioritize based on risk assessment and urgency. Analysts must also coordinate closely with underwriters, agents, and legal teams to gather necessary documentation and ensure compliance with underwriting guidelines. Staying updated on regulatory changes and effectively communicating with stakeholders are key to managing this fast-paced workload successfully.
What is the difference between Surety Analyst vs Underwriting Assistant?
| Aspect | Surety Analyst | Underwriting Assistant |
|---|---|---|
| Credentials | Typically requires insurance or finance certifications, such as CPCU or ARM | Often requires basic insurance knowledge, sometimes a degree in finance or business |
| Work Environment | Office setting, analyzing bond applications and risk assessments | Office setting, supporting underwriters with administrative and data entry tasks |
| Industry Usage | Common in insurance, surety bonds, and financial services | Used across insurance and underwriting departments |
The Surety Analyst focuses on evaluating bond risks and analyzing financial data, often requiring specialized certifications. In contrast, the Underwriting Assistant provides administrative support to underwriters, handling documentation and data entry. Both roles are essential in the insurance industry but differ in responsibilities and required credentials.
What are popular job titles related to Surety Analyst jobs in Rhode Island?
For Surety Analyst jobs in Rhode Island, the most frequently searched job titles are:
What job categories do people searching Surety Analyst jobs in Rhode Island look for?
The top searched job categories for Surety Analyst jobs in Rhode Island are:
Regulatory and Licensing Manager
Providence, RI • On-site
Moneycorp
Full-time
Medical, Dental, Vision, Retirement
Re-posted 24 days ago
Job description
Welcome to Moneycorp
Moneycorp powers global payments for corporates, institutions and high net worth individuals, combining worldwide reach with local expertise. With over 45 years of market experience, two banking licences and offices in 11 countries, our technology delivers 24/7 accessibility, while our people deliver award-winning service. In 2024, we supported $1tn+ of payment volume, reaching 190 countries in 130 currencies. Our 32k+ corporate clients benefit from our regulatory resilience with 63+ permissions globally, access to major payment rails, and our proprietary technology.
Moneycorp is a place where energy, commitment, and collaboration are core to our values of shared success. We’re restless in our drive to surpass the expectations of our customers and unlock opportunities to support them at every stage of their journey. The foundation of our success is our people, and nurturing a culture of belonging for all our colleagues is central to our journey as a global business.
In North America, our offices are in Stamford, Orlando, Providence, and Toronto. We are licensed to operate in each US State, and in Canada at the Federal level we are registered with FINTRAC and at the Provincial level in Quebec.
Role Purpose
This position will report to the Chief Compliance Officer. The Regulatory and Licensing Manager will ensure that Moneycorp adheres to all governmental (state and federal) laws and regulations. They will be responsible for researching, assessing, and monitoring new developments, ensuring policies and procedures are updated and upheld, and serving as primary point of contact and coordinator for regulatory examinations and internal and external audits.
Responsibilities
Manage Regulatory Compliance function
- Ensure compliance with, and manage company processes related to, state money transmitter licensing requirements and all Nationwide Multistate Licensing System (NMLS)-related activities
- Maintain extra-provincial registrations for Moneycorp US Inc. in Canada
- Conduct horizon scanning, liaise with regulators to ensure timely notice of any regulatory changes, and communicate all such changes promptly to the Chief Compliance Officer (CCO)
- Prevent any disruption in licensing status by ensuring the company receives timely, accurate and complete documentation/information concerning licensing requirements
- Strategize, plan, and prioritize licensing strategy and related risks
- Timely file all required reports, renewal documents, and other information related to applicable licensing requirements
- Identify and internally report licensing-related risk and compliance issues and participate in developing mitigation plans
- Create accurate and timely reporting and analysis of regulatory and licensing activities
- Monitor and resolve NMLS task list for all license item notifications
- Monitor all regulatory filings managed by outside vendors (e.g. Secretary of State filings submitted by the company’s registered agent) to ensure timely and complete submissions
- Monitor surety bond expiration dates and ensure renewals are processed in a timely manner
- Provide management and executive level overview on the state of licensing
- Hire and manage a Regulatory and Licensing Associate to serve as deputy
- Assist as needed in other areas of Compliance
Manage external and internal audits
- Act as principal coordinator, in collaboration with Finance, Legal, and Compliance departments, for all federal/state examinations, internal and external audits, annual independent AML compliance reviews (US), and biennial AML effectiveness reviews (Canada). This includes:
- Organizing and coordinating initial document production
- Preparing and maintaining examination trackers, issues logs, etc.
- Acting as principal point of contact during the course of all examinations/audits
- Supporting the Chief Compliance Officer, as needed, in preparing responses to the examiners
- Managing the post-examination issues log and ensuring all action items are completed in a timely manner
Knowledge, Skills and Experience Required:
Knowledge and Experience:
- Three or more years of experience with money transmitter licensing compliance
- Five or more years of NMLS experience
- Three or more years of experience participating in state or federal compliance examinations
- Two or more years of management/supervisory experience
- Strong knowledge of statutes, regulations, and NMLS activities applicable to money transmitters
Skills:
- Must be able to work under pressure in a fast paced environment
- Must have great organizational skills including the ability to prioritize
- Must have excellent oral and written skills
- Proficient in MS Excel and Word
Education:
- Bachelor’s Degree or commensurate experience
Languages:
- English
Personal Attributes:
- The individual must have excellent work ethic and exceptional attention to detail
- The individual must be professional and personable
- The individual must be determined and driven
- The individual must be self-motivated and have the ability to work independently and within a team environment
What's in it for you?
- This position is full-time permanent, operating on a hybrid working model from one of our office in Stamford, CT or Providence, RI.
- This role offers a salary range between USD 90,000 - $110,000 per annum + annual bonus and a comprehensive benefits package
- Medical, Dental, Vision
- 401k
Location and Hours of Work:
- Location: Stamford, CT or Providence, RI
- Overtime Eligible: No – Salaried Exempt
- Hours: 40 hours per week, Monday to Friday between 8.30am – 5.00pm
- Flexibility will be required in line with business needs
- This is a hybrid role
Please note that this job description does not form part of your employment contract. The company can modify your job duties or amend this job description at any time.
Fostering a culture of belonging and inclusivity
Fostering a culture of belonging and inclusivity
We're committed to creating a workplace where every individual feels valued, respected, and included. As an Equal Opportunity Employer, we actively cultivate an inclusive culture where diversity thrives, and we empower our colleagues to drive meaningful change within our organization through Employee Engagement initiatives and value champion networks.
Like many of our peers, we recognize that fostering inclusivity is an ongoing journey, and we remain steadfast in our commitment to progress. By measuring our efforts through regular assessments and listening to the feedback of our employees, we strive to ensure that our initiatives are impactful and responsive to the evolving needs of our workforce.
Together, we want to build a workplace where everyone can bring their authentic selves to work, as we believe this is the foundation of innovation, creativity, and collective success.
Like many of our peers, we recognize that fostering inclusivity is an ongoing journey, and we remain steadfast in our commitment to progress. By measuring our efforts through regular assessments and listening to the feedback of our employees, we strive to ensure that our initiatives are impactful and responsive to the evolving needs of our workforce.
Together, we want to build a workplace where everyone can bring their authentic selves to work, as we believe this is the foundation of innovation, creativity, and collective success.