Regulatory Affairs Specialist II

13304

We are Farmers!

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Do you thrive in a high-volume, fast-paced environment? Do you enjoy the challenge of a position where no two days are alike? We are looking for positive, high-energy professionals who are not just looking for a job, but a meaningful career!

Job Summary

The Regulatory Affairs Specialist II is responsible for managing and responding to Market Conduct Exams. Market Conduct Examinations can either be comprehensive or targeted and involve a state’s statutory authority to review the business practices and operations of a company doing business in the state. These exams can last several months and even several years. State regulators have the authority to assess fines or penalties for violations of the state’s statutes and regulations and failure to comply with company policy. The Regulatory Affairs Specialist II also responds to criminal or other government investigations of insurance company procedures. In addition, the Regulatory Affairs Specialist II handles various Department of Insurance data calls, premium surveys and market conduct inquiries. This Specialist also handles complex or sensitive Department of Insurance complaints referred from the Regulatory Affairs Specialist I team. The Regulatory Affairs Specialist II secures and analyzes internal underwriting, product, agency, billing, and policy records and tr ansactions, leads internal meetings to consult with others and gathers information, and develops appropriate correspondence to regulators that is responsive to their concerns and maintains the organization’s regulatory reputation and relationships.

Essential Job Functions

Leads the coordination of assigned market conduct exams, including evaluation of requests from the regulator, identifying and working with internal stakeholders, engaging Legal review, and engaging in appropriate communication with and maintaining a positive working relationship with the regulator.
Performing Market Conduct Exam research as necessary using on-line tools and/or Wolters Kluwer.
Evaluates and prepares responses to regulatory requests for information related to criminal or government investigations of insurance producers, works closely with Distribution Compliance and Internal Audit.
Handles various Department of Insurance data calls, premium surveys and market conduct inquiries.
Handles complex or sensitive Department of Insurance Complaints referred from the Regulatory Affairs Specialist I.
Identifies opportunities to improve processes and works with business units to implement recommendations.
Performs other tasks and duties as assigned.

Physical Actions

Sits or stands for extended periods of time, up to a full work shift. Occasionally reaches overhead and below the knees, including bending, twisting, pulling, and stooping. Occasionally moves, lifts, carries, and places objects and supplies weighing 0-10 pounds without assistance. Listens to, interprets, and differentiates auditory information (e.g. others speaking) at normal speaking levels with or without correction. Visually verifies and reads information. Visually locates material, resources and other objects. Ability to continuously operate a computer for extended periods of time, up to a full work shift. Physical dexterity sufficient to use hands, arms, and shoulders repetitively to operate keyboard and other office equipment up to a full work shift.

Physical Environment

This position operates in an open office working environment which will include normal and customary distractions, noise, and interruptions.

Education Requirements

Bachelors degree required. Juris Doctor preferred.

Experience Requirements

1 to 3 years experience knowledge and understanding of the primary functions of the insurance business and the impact of market conduct regulations on the business. 3 to 5 years experience in Underwriting, Compliance, Bill, Policy Processing, or Legal preferred.

Special Skill Requirement

Three years of regulatory experience preferred.
Demonstrated experience searching for and reading statutory and regulatory language preferred.
Experience using Microsoft Excel or similar platforms for basic data analytics preferred.

Benefits

Farmers offers a competitive salary commensurate with experience, qualifications and location
CO Only: The pay range for this job being performed in CO would be $73,400-$97,900
Bonus Opportunity (based on Company and Individual Performance)
401(k)
Medical
Dental
Vision
Health Savings and Flexible Spending Accounts
Life Insurance
Paid Time Off
Paid Parental Leave
Tuition Assistance
For more information, review “What we offer” on https://www.farmers.com/careers/

Job Location(s): US - RW - Remote Work - Farmers

Want to learn more about our culture & opportunities? Check out farmers.com/careers and be sure to follow us on Instagram and LinkedIn!

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