Compliance Specialist, Personal Lines and eConsumer at Chubb in Whitehouse Station, New Jersey

Job Description:

Chubb is the world’s largest publicly traded property and casualty insurer. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally. 

KEY OBJECTIVES:

This individual is responsible for leading the compliance function for eConsumer products, including digital distribution, and for supporting the Personal Lines compliance function.  The individual will develop and maintain an effective compliance program for eConsumer products by establishing compliance standards, raising awareness of compliance issues, investigating and addressing compliance issues, and implementing controls to monitor and prevent compliance deficiencies.  The individual will also assist the Personal Lines Compliance Officer in developing and maintaining an effective compliance program for Personal Lines. 

This individual will partner with the business unit and with other members of the Office of General Counsel, to monitor, test, and mitigate potential compliance deficiencies.  This individual will also partner with Regulatory Affairs and Legal Counsel to properly respond, rebut and, if necessary, design action plans to address results of regulatory audits, complaints, or market conduct exam activity. 

This individual will need strong interpersonal and diplomacy skills; but more importantly, will need to be flexible and adaptable to an evolving compliance function. 

MAJOR DUTIES & RESPONSIBILITIES:

• Develop and execute the compliance strategy for eConsumer and assist the Personal Lines Compliance Officer to develop and execute the compliance strategy for Personal Lines;


• Develop and maintain relationships with, and provide timely guidance and advice to, the business units and their management teams;


• Develop knowledge of upcoming insurance regulatory changes related to consumer products, in particular the distribution of insurance via direct-to-consumer channels, particularly digital methods;


• Assist in providing training and awareness initiatives related to the sale and distribution of consumer products;


• Assist in the preparation of responses to regulatory inquiries, complaints, and examinations;


• Assist in the investigation of business unit related compliance issues or breaches in collaboration with NA CCO and other stakeholders;


• Partner with the business to ensure that compliance guidance is implemented, action plans are completed timely, and that proper controls are in place and effective;


• Conduct regular monitoring and testing of compliance controls in place within the business units;


• Oversee and advise on effective controls related to the monitoring of third parties;


• Conduct trending analysis using data analytics and other reporting mechanisms to identify potential issues;


• Assist in the rectification of any action items related to compliance issues found on Corporate Underwriting audits for the business units and monitor to ensure they are completed;  


• Utilize Chubb IT systems and processes to review, screen, and clear potential sanction name matches; Report and escalate compliance issues and developments as required.

MINIMUM REQUIREMENTS:

• 5 years of insurance industry experience, primarily in the areas consumer products;


• Experience with digital distribution of insurance products;


• A college degree a plus;


• Demonstrated understanding of the insurance regulatory environment;


• Very strong analytical skills and ability to monitor for compliance issues, and understand “root causes” of compliance deficiencies and effectiveness of controls; 


• Demonstrated ability to develop relationships;


• Ability to consistently execute and deliver results;


• Ability to manage multiple projects in a dynamic development environment;


• Strong knowledge of MS, Excel, PowerPoint Word; and legal/compliance research tools;


• Ability to manage multiple projects in a dynamic development environment; and

Chubb offers a competitive compensation package and comprehensive benefits package including life, health and dental, vision, a generous retirement savings plan, disability coverage, stock purchase plan, flexible spending accounts, tuition reimbursement, and business casual dress. Chubb is an equal opportunity employer and our employment decisions are made without regard to race, color, religion, age, gender, national origin, disability, handicap, marital status or any other status or condition protected by Federal and/or State laws, except where bona fide occupational qualifications apply.