About this role
The Compliance Analyst supports ongoing insurance compliance by reviewing state and federal statutes, regulations, and bulletins and evaluating policies, procedures, and products for compliance. The role assesses risk exposure, recommends changes, and helps develop and implement compliance strategies and programs while communicating updates to impacted departments and vendors.
Key Responsibilities
- Review state/federal statutes, regulations and bulletins impacting compliance requirements
- Evaluate policies, procedures and products for compliance with applicable laws
- Assess risk potential of current procedures and recommend changes to minimize loss exposure
- Develop and implement compliance strategies and future compliance programs
- Communicate policy/procedure changes to impacted departments/vendors using written and verbal methods
Technical Overview
This role is compliance and regulatory analysis in an insurance environment. It centers on interpreting legislative and regulatory sources, assessing risk in current procedures, and ensuring policy, procedure, and product compliance through ongoing monitoring and cross-department implementation.
Ideal Candidate
The ideal candidate is a compliance-focused professional with experience interpreting and applying state and federal statutes, regulations, and bulletins to insurance-related policies, procedures, and products. They are able to assess compliance risk and recommend procedural changes to minimize loss exposure, while collaborating across departments and communicating updates in both written and verbal formats.
Must-Have Skills
Reviewon an ongoing basisstate/federal statutesregulations and bulletins that impact compliance requirementsEvaluate current policiesprocedures and products to ensure compliance with applicable lawsAbility to read and interpret state and federal statutesregulationsbulletinsother legislative correspondenceinsurance policies and company proceduresAbility to make decisions and meet deadlinesMaintain confidentiality and a professional business image
Required Skills
Compliance analysisreview state/federal statutesreview state/federal regulationsreview bulletinsevaluate policies procedures and productsinterpret insurance policiesassess risk potentialrecommend procedural changesdevelop compliance strategiesdevelop compliance programscommunicate policy and procedure changes (written and verbal)maintain confidentialitytrain others
Hard Skills
Compliance analysisReviewing state and federal statutesReviewing state and federal regulationsReviewing bulletins that impact compliance requirementsPolicy compliance evaluationProcedures compliance evaluationProduct compliance evaluationRisk assessmentRisk potential assessment of current proceduresCompliance strategy developmentCompliance program developmentCommunicating policy and procedure changes (written and verbal)Training othersInterpreting state and federal statutesInterpreting regulationsInterpreting bulletinsInterpreting legislative correspondenceInterpreting insurance policiesInterpreting company proceduresMaintaining confidentiality
Soft Skills
Collaboration with other departmentsDecision-makingMeeting deadlinesWork efficiently with associates at all levelsAbility to train othersProfessional business image
Keywords for Your Resume
Compliance AnalystHR Compliance AnalystReviewstate/federal statutesstate and federal regulationsbulletinscompliance requirementsEvaluate current policiesprocedures and productscompliance with applicable lawsrecommendations for changerisk potentialminimize loss exposurecompliance-related issuescompliance programscommunicatedwritten and verbal meansimpacted departments/vendorsBachelor's degreeconfidentialityinterpretinsurance policiescompany proceduresinsurance carriercollaborate with other departmentsmeet deadlinespolicies procedures and productscommunicated in written and verbal means
Deal Breakers
Bachelor's degree or equivalent experience, Must have ability to read and interpret state and federal statutes, regulations, bulletins, insurance policies, and company procedures, Must demonstrate ability to make decisions and meet deadlines, Must be able to maintain confidentiality
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