An exciting opportunity exists to join the ProAssurance family of companies!
We are a specialty writer of professional liability, products liability and workers' compensation insurance. With nearly 900 employees operating in 40 states, our company is well positioned to offer career opportunities to individuals interested in professional growth.
The primary responsibility of the Director of Compliance is to provide regulatory oversight and ensure ongoing consistency and compliance in the Company's marketing and social media content, contracts, and other communications including internal and external materials, ensure compliance with surplus lines requirements, agent licensing and appointments and complaint response and management. The Director of Compliance will hold responsibility to coach, manage and mentor Compliance team members.
Essential Duties and Responsibilities:
60% Legal Reviews and Correspondence
Review marketing, risk resource, web and social media materials for compliance with internal filings, applicable laws, rules, and regulations.
Participate in managing the Company's efforts in statutory financial exams and market conduct exams
Point of contact with leadership and employees at all levels across all lines of business for compliance / regulatory guidance and input for initiatives to promote organizational efficiencies
Regulatory project management - Collaborate and direct resources across departments in order to maintain compliance with and coordinate company response to state specific requirements such as Texas Department of Insurance Loss Control Compliance; meet and interface with state regulators as required
Collaborate with sales and marketing to draft contracts for cross-selling initiates
Manage agent licensure and appointments for Company entities, employees and appointed agents
Facilitate and advise on non-renewals and cancellations of policies in compliance with state laws and regulations
Review/draft legal contracts, leases, non-disclosure agreements, and other legal documents as needed; provide assistance for renewal of contracts and other documents for corporate and other lines of business
Agency contract review and compliance oversight; agency contract termination reviews
Provide and coordinate legal and compliance research as needed
20% Manage Compliance Team Members
Provide guidance, support and growth opportunities to staff, ensures each employee has a meaningful professional development plan that supports career goals. Manages the achievement of performance objectives for all direct reports, provides frequent feedback and meets with direct reports on a regular basis for meaningful coaching discussions on all aspects of the employee's performance and development.
Conduct meaningful annual performance reviews on a timely basis and makes salary adjustment recommendations in accordance with the Company's salary administration plan. Effectively manages the progressive discipline process, including potential termination of an employee, in collaboration with Human Resources and appropriate members of the management team. Participates in interviewing and hiring of new staff and facilitates or conducts effective on-boarding and orientation for new employees; coordinates formal training programs; assigns staff to special projects and oversees workflow and workload of staff.
15% Review and Update/Communicate Law Changes
Advise leadership and employees at all levels across all lines of business on compliance with emerging laws and regulations; cyber compliance and privacy regulations; revise corporate policies accordingly
Monitor regulatory changes, and advise on how the Company's filed rates, rules and forms need to be changed to ensure compliance
Participate in compliance and legal responsibilities associated with mergers and acquisitions including drafting of required regulatory documents (Form As); review of documents for due diligence; review of M&A documents and collaboration with outside counsel, meeting with regulators as required
Exposure to and maintenance of confidentiality for market sensitive information
Alert points of contact in other lines of business to time-sensitive regulatory changes
5% Secondary Duties and Responsibilities
Investigate and respond to consumer complaints filed with various regulatory bodies and communicate with regulators as required to achieve favorable resolution of consumer complaints against the Company
Substitute for Chief Compliance Officer in meetings when needed
Participate in other legal and compliance projects as needed
Qualifications
J.D. from an accredited law school is required.
Five to seven years' experience in the P&C insurance industry is highly preferred.
Previous experience in a regulatory department within the insurance industry or state government is highly preferred.
Ability to manage strict deadlines, be flexible and able to adapt in times of change, work extended hours and weekends when required
Superior organization, communication and interpersonal skills required.
Able to create, build, and develop superior relationships with internal colleagues in different departments within the business unit and ProAssurance.
Meets work deadlines and has excellent desk-management skills.
Proficient in Microsoft Office Suite. Must be able to work independently.