Risk & Compliance Analyst

MMG INSURANCE COMPANY

Job Description

Job Title:                   Risk & Compliance Analyst

Department:           Risk Management and Compliance  

Reports To:               Risk Management and Compliance Director

FLSA Status:             Exempt

SUMMARY

Under the direction of the Risk Management and Compliance Director, responsible for designing, implementing, and coordinating the regulatory and compliance strategy and programs that are effective in preventing and identifying violations of government regulations or company policy. In addition, the role will involve compliance consulting with impacted company projects and/or business areas, implementation of compliance processes, training, monitoring, investigation, remediation and/or reporting. 

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Assists in designing, implementing and enforcing compliance strategy and programs that are effective in preventing and identifying non-compliance with government regulations or company policy.
• Research State statutes, laws and rules for company compliance.
• Interpret regulations and compliance related requirements by reviewing various regulatory bulletins and utilizing a variety of research tools.
• Communicate regulatory changes with business areas and aid in designing solutions to mitigate risk in support of compliant practices.
• Assess risks and identify potential areas of compliance vulnerability throughout the enterprise. Provide oversight of corrective action plans developed through business unit self-audits and/or targeted Compliance audits. Test and validate corrective actions to confirm mitigation plans have been properly implemented and are documented.
• Assist business partners in preparing materials and information required in response to internal and external regulatory audits and assist in preparing communication of responses for regulatory compliance audits.
• Manage State issued data calls, filings, and surveys relevant to business (or company) and industry practices.
• Prepare accurate and timely responses to insurance consumer complaints received from State Departments of Insurance or through other means.
• Assess procedures with new and revised compliance processes and controls.
• Proactively identifies strategic and tactical regulatory solutions by providing compliance subject matter expertise for project/process/product initiatives.
• Other duties may be assigned.

OTHER SKILLS AND ABILITIES 

• Demonstrates leadership by exhibiting confidence in self and others; Inspires and motivates others to perform well; Effectively influences actions and opinions of others; Accepts feedback from others; Gives appropriate recognition to others.
• Demonstrates ability to lead market research efforts (i.e., gathering data, presenting periodic reports, contributing to execution of resulting action plans).
• Demonstrates understanding of the organization’s goals and objectives and demonstrates ability to evolve as changes are implemented.
• Possesses above-average telephone skills.
• Possesses above-average interpersonal, and relationship skills
• Demonstrates excellent negotiating skills.
• Possesses the ability to professionally articulate a position/decision in an adversarial situation.
• Customer Service – Manages difficult or emotional customer situations; Responds promptly to customer needs; Solicits customer feedback to improve service; Responds to requests for service and assistance; Meets commitments.
• Professionalism – Approaches others in a tactful manner; Reacts well under pressure; Treats others with respect and consideration regardless of their status or position; Accepts responsibility for own actions; Follows through on commitments.
• Demonstrates the ability to consistently maintain a positive attitude.
• Works cooperatively and productively with employees.
• Is self-motivated with strong organizational skills.
• Demonstrates the ability to multi-task effectively and efficiently.

EDUCATION and/or EXPERIENCE

Bachelor's degree and 5 years related experience and/or training; or equivalent combination of education and experience.