Compliance Specialist

The Compliance Specialist will be self-driven and work closely with the Compliance Manager to ensure that all operations comply with legal and regulatory standards, procedures and policies. Compliance Specialist should be able to evaluate and identify compliance, legal or regulatory issues that impact the organization and operational efficiency and effectiveness and recommend solutions. The Compliance Specialist will work with the AVP of Legal and Compliance to provide regulatory updates to department leaders, with an emphasis on the regulation of Property & Casualty non-admitted insurance. This position will partner with Legal & Compliance leadership to establish rapport with external and internal customers and bridge cultural and functional barriers to communicate effectively. The Compliance Specialist will be expected to manage and drive compliance project timelines to meet established deadlines and ensure that all Business Units are provided appropriate compliance and legal support.

Duties and responsibilities

• Work closely with Legal & Compliance leadership to ensure timely updates and alerts are provided on regulatory compliance matters including insurance licensing and carrier compliance, privacy, data security, corporate ethics and risk management.
• Responsible for compilation of internal documentation (procedures, processes and controls) and data reporting to ensure all monthly, quarterly, and annual requests are completed in a timely manner.
• Work with the appropriate Business Leaders in each department and management at all levels to ensure effectiveness of compliance controls.
• Responsible for oversight of the filing and maintenance of company registrations and licensing.
• Provide oversight of Surplus Lines monthly, quarterly, and annual tax filings to ensure reports are submitted timely.
• Responsible for identifying and reporting compliance or regulatory issues and concerns.
• Assist in complaint response management, including tracking and compiling reports to leadership.
• Responsible for preparation of compliance reports as necessary or required.
• Any other duties, special projects and ad hoc requests as directed/assigned.
• Identify and recommend industry best practices for implementation in policies and procedures.
• Assist in preparation and occasional delivery of compliance related training to management, employees, and other parties where applicable.
• Assist Compliance Manager with business-related guidance on compliance-related matters and issues.
• Assist in development of compliance program’s auditing and monitoring activities including compliance assurance monitoring, compliance testing and analyzing issues, exposures, and risks to identify their root causes and potential gaps and provide recommendations to mitigate risks.
• Provide monthly or as needed reporting to the Audit/Compliance Committee.
• Assist in the Compliance reporting function to carriers and state Departments of Insurance.

Qualifications

• Bachelor’s Degree required with 1-2+ years insurance compliance or Compliance Specialist/Compliance Generalist experience preferred
• Ability to oversee multi-faceted projects to a successful conclusion. Project management experience a plus
• Excellent interpersonal skills and the ability to work effectively with individuals at all levels
• Excellent written & verbal communication skills.
• Can orchestrate work with multiple people across departments

• Possess strong critical thinking, analytical and problem-solving skills
• Detail oriented with strong organizational skills.
• Ability to conduct and analyze research on various regulatory or compliance-related topics and issues.
• Ability to uphold and demonstrate the highest level of integrity
• Ability to understand and interpret insurance laws, regulations, industry guidelines, statutes, administrative regulations, and precedents
• Possess research skills, particularly in the area of insurance and regulation
• Muli-tasker with keen eye toward details and deadlines
• Ability to collaborate with a team and all levels in the organization
• Strong computer skills, emphasis on Word, Excel, Power Point and Outlook.

Working conditions

This role operates in an office setting. It routinely uses standard office equipment such as computers, phones, photocopiers, etc.

Physical presence in the office on a hybrid workweek during normal business hours is preferred for effective interaction and collaboration with colleagues to complete work tasks and meet business demands, including sudden and/or urgent assignments.

Must be able to work varied shifts, weekends and holidays as needed.

About Us

Velocity Risk Underwriters, LLC offers residential and commercial property insurance programs in coastal areas around the country. Velocity Risk Underwriters focuses on competitive pricing, innovative products, common-sense underwriting philosophy, and fast, fair, professional claims service. Velocity Risk Underwriters has been voted 2 years in a row as one of the best places to work in Nashville, and provides competitive benefits, paid gym memberships, an opportunity for bonus incentive, along with competitive pay and 401k company