Description:
Position Summary:The Senior Regulatory Counsel serves as a trusted advisor for An Insurance Company' senior management team on compliance and regulatory matters, providing timely guidance, advice, and business-focused solutions.
Position Summary/Objectives
- Stay abreast of developing regulatory changes related to An Insurance Company' insurance operations, including providing timely guidance of state and federal regulatory changes that may impact the Companies
- Perform legal research, including analysis of state insurance statutes, regulations, and bulletins
- Ensure that compliance guidance is implemented, action plans are completed in a timely fashion and that appropriate compliance controls and testing are in place and effective
- Develop or oversee internal training and awareness initiatives related to compliance issues and requirements
- Evaluate, investigate, and respond to Department of Insurance (DOI) correspondence, market conduct exams, and financial exams, and assist with implementation of mitigation/remediation plans, as necessary.
- Oversee statistical and procedural regulatory information requests
- Coordinate, research and support corporate compliance and governance areas
- Oversee and advise on effective controls related to the monitoring of various states' data and privacy laws and related compliance/reporting requirements
- Participate in the review of any significant product development changes, prior to implementation
- Liaise with trade organizations (e.g., APCIA, WSIA, etc.) on areas of regulatory interest
- Maintain and update corporate books and records, including but not limited to, articles of incorporation and bylaws, certificates of authority and board of directors' materials and corporate transaction legal documents
- Manage licensing processes and licensing staff – entity, producer, and adjuster licensing
- Oversee the OFAC monitoring process
- Assist with general legal tasks, as required
- Strong interpersonal and diplomacy skills with ability to flex in an evolving organization
- Strong commitment to ethical practice of law
- Superior verbal, written and interpersonal communication skills
- Ability to work collaboratively and cross functionally with individuals at all levels of the organization
- Excellent organizational and project management skills, including managing multiple projects
- Excellent influencing, facilitation, relationship building and partnership skills
- Strong researching skills
- Ability to mentor other compliance associates
- Thorough understanding of the U.S. insurance regulatory and compliance environment
- Clear, concise legal reasoning and judgment, while demonstrating flexibility and discretion
- Strong command of legal, regulatory and product filing databases and systems, including Westlaw, ODEN, Lexis, NILS, NIPR, SERF and UCAA
- Working knowledge of ISO CGL, Property and Auto and AAIS Inland Marine products
- Required: JD from an ABA accredited law school
- Required: 8+ years of compliance experience, preferably as in-house counsel for a commercial property & casualty lines insurance company
- Required: Admitted to practice law in at least one state
- A Plus: Corporate governance and/or Corporate secretarial experience
