Insurance Compliance Specialist

4 weeks ago


Norwich, United Kingdom Baldwin Risk Partners Full time

When, Millennial Specialty Insurance (“MSI”) partnered with Baldwin Risk Partners in 2019, we were a single-product tech-enabled renters insurance platform with only 18 colleagues. Today, MSI has grown to over 900 colleagues with more than 10 insurance products thru a combination of rapid organic growth and strategic, tech-enabled partnerships. Our goal is to produce proprietary products to our customers that are fast, easy to use, and customizable with a deep focus on the customer experience. We believe that through our scalable, tech-enabled, proprietary platform and products, we will fundamentally change the insurance industry. Internally, we are dedicated to a culture that has innovation at its core and providing a world class colleague experience. Since 2021, we have tripled our colleague headcount to support the growth of the business. MSI is looking for top talent to join our journey as we continue to grow. Come join us at Millennial Specialty Insurance, the MGA of the Future

Position Summary:

The Insurance Compliance Specialist ensures that organizations comply with industry specifications, standards, regulations, and laws. He/She will review operational practices, create, and enforce compliance plans, and perform regulatory risk management activities. He/She will ensure that business practices and programs conform with insurance statutory and regulatory obligations. This ideal candidate is responsible for ensuring business practices and programs adhere to MSI’s compliance program.

Principal Responsibilities:

·Handle regulatory complaints received from various State Insurance Departments, social media, and directly from consumers including tracking them in a complaint system and coordinating responses. Collaborate with the business to draft and prepare accurate and timely responses to insurance consumer complaints. 

Develop reports relating to complaints, audits, and exam trends for internal monitoring purposes.Assess risks and identify potential areas of compliance vulnerability. Serve as liaison between business leadership and legal counsel in the resolution of potential risks and vulnerability. Provide guidance to the business on required changes to new products, services, and geographies. Serve on business projects as needed, including new product development, and company-wide initiatives.Other general compliance duties as assigned.

Education, Experience, Skills and Abilities Requirements:

Bachelor’s degree; or equivalent combination of education and work experience.At least 5 years relevant, regulatory compliance experience, preferably in the property and casualty insurance industry.Excellent attention to detail and ability to troubleshoot technical issues.Ability to take initiative and work under minimal supervision.Strong verbal and written communication skills.Ability to handle multiple tasks, in a timely manner, on a continual basis under strict deadlines.Strong planning, organization, and follow-up skills.Excellent PC skills including Excel, Word, Access, online resources with strong database management skills.

Special Working Conditions:

Fast paced, multi-tasking environment.

Important Notice:

This position description is intended to describe the level of work required of the person performing in the role and is not a contract. The essential responsibilities are outlined; other duties may be assigned as needs arise or as required to support the organization. All requirements may be subject to reasonable accommodations to applicants and colleagues who need them for medical or religious reasons.

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