Regulatory Compliance Project Manager

Company
American Modern Insurance Group
Location
Cincinnati , United States

The Regulatory Compliance Project Manager is on the Regulatory & Customer Relations (“RCR”) team and reports directly to the Regulatory and Customer Relations Director. This team serves as the Compliance “One Voice” to the Regulators and Business Partners. The role responsibilities include, facilitation, communication, and execution of market conduct and financial examinations, compliance reviews, regulatory inquiries, formal consumer and corporate complaints, moratoria, and surveys.

 

The role’s focus is to further develop and maintain strong relationships with Regulators and Business Units within the AMIG/Munich Re organization necessary to continue growing the good reputation of American Modern and the Compliance Department.

 

The associates of RCR are subject matter experts for RCR functions and are responsible for identifying, escalating to management, and assisting in the resolution of critical regulatory and business matters related to American Modern’s operation as a regulated insurance entity.

 

Roles and Responsibilities:

• Be the internal and external Regulatory Compliance voice for the company
• Lead and or manage Market Conduct and Financial Examinations, compliance reviews and/or other regulatory requests to include facilitating business meetings to communicating pertinent information, and providing leadership and direction as it relates to the request or continued compliance for business operations. Interaction with business units and employees across all levels, including company-designated Risk and Compliance Leads (RCL’s), Executive Management Board members and Regulators
• Receive, record, coordinate, and respond to all formal consumer and/or corporate complaints to include tracking and communication of various trends and analysis. Ensure compliance of tracking and reporting requirements are met as mandated by applicable statute and/or RCR documentation
• Develop and maintain relationships with internal business units and develop regulatory networks (both formal and informal) by establishing relationships with various department of insurance regulators and/or regulatory consultants
• Design, document and maintain concepts, standards, processes, and procedures for compliance reviews or other RCR responsibilities
• Maintain a high level of quality while working through regulatory requests and compliance reviews
• Apply critical thinking when conducting the tasks associated with RCR roles and responsibilities and keep company compliance top of mind at all times
• Work in collaboration with business units and RCLs to properly address compliance process deficiencies identified through compliance reviews
• Actively participate in projects/initiatives and/or make recommendations that promote efficiencies and/or stronger compliance environment for the organization
• Review narrative responses from the various business units for accuracy and prepare/submit formal communication(s) in support of external requests for information
• Maintain knowledge of state insurance regulations impacting our organization and identify continuous process improvement opportunities
• Be familiar with various regulatory reporting agencies and industry best practices including new and changing regulatory compliance requirements regarding complaints, market conduct, moratoria and regulatory request handling
• Work with internal stakeholders, regulatory agencies/bodies, and consultants as required to ensure compliant, timely and accurate responses for assigned regulatory projects
• Prepare and deliver reports and pertinent information to regulators and internal stakeholders via business meetings and/or written/oral communications. Providing insight into trends/issues, regulatory fines, actions and requirements, corrective action results and soliciting feedback on a scheduled or as-needed basis
• Document and maintain all compliance-related findings, whether it be through regulator driven activities or internal compliance reviews, and track progress to ensure any and all corrective action plans are completed and appropriately reported to the governing regulatory agency/body, Director of RCR, or Executive Management and/or RCLs
• Employ strong communication skills and professional presence to effectively communicate regulatory requests, market conduct findings, compliance review findings and responses to regulators and/or other stakeholders

 

Required Technial Skills:

• Excellent interpersonal skills
• Regulatory knowledge and Market Conduct awareness
• Successful project management skills
• Strong written and verbal communication skills
• Strong ability to multi-task, change direction on projects quickly, and manage ambiguity
• Strong understanding of AMIG’s products, system and business operations, and compliance framework

 

Requirements:

• Bachelor’s Degree or equivalent work experience in insurance.

• Insurance designations or at least 2 years of experience with designated RCR or compliance function(s).
• Project experience
• Proven talent for developing strong relationships
• Excellent communication skills
• Advanced knowledge and/or experience of regulatory compliance and insurance principles as it relates to the functions within Regulatory and Customers Relations. With limited guidance, has the proven ability to develop strong relationships, manage assigned regulatory projects; such as formal consumer and corporate complaints, moratoria communication, regulatory survey’s, and industry or internal information requests to include coordination of tasks among stakeholders and is well versed in regulatory communications
• Has a solid understanding of the risk and regulatory compliance framework at American Modern/Munich Re. Possess a sharp awareness of risk and regulatory compliance triggers, collaborative mindset and drives positive outcomes to enhance the infrastructure of the company and its reputation in the marketplace.
• Provides leadership, training and guidance to others

 

At American Modern, a subsidiary of Munich Re, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services. 

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.