Product Compliance Analyst

This is a fully remote position, open to applicants in Illinois.

📋 Description

• Create, prepare, submit, and coordinate regulatory filings and approvals for insurance policy forms with State Departments of Insurance.

• Engage in product approval processes, which include state-specific policy form revisions, filing requirements, and securing regulatory approvals.

• Track filing activities and coordinate follow-ups to ensure timely product approvals.

• Prepare and submit routine compliance reports at both state and federal levels.

• Maintain regulatory documentation and oversee the Compliance Document Retention database.

• Research, interpret, and apply state insurance laws, regulations, statutes, and regulatory bulletins.

• Review policy forms and associated documentation for adherence to regulatory standards.

• Monitor legislative and regulatory modifications, identifying their impacts on products and business practices.

• Conduct legal and regulatory research utilizing Wolters Kluwer INSource and other authorized resources.

• Compile legal surveys and summarize regulatory research findings.

• Participate in new product development and initiatives aimed at product enhancements.

• Collaborate with Product Development and other business areas to implement necessary product modifications.

• Communicate regulatory updates, product changes, and compliance requirements to internal stakeholders.

• Assemble product materials for state payroll vendors and other business partners.

• Address product compliance inquiries from employees and internal departments.

• Work with Marketing to develop and assess advertising materials.

• Evaluate marketing and advertising content for legal, regulatory, and company-standard compliance.

• Identify inaccuracies, misleading statements, or regulatory concerns and suggest revisions.

• Maintain compliance records and documentation related to filings.

• Manage multiple assignments and deadlines effectively.

• Enhance regulatory filing processes, documentation, and operational efficiency.

• Assist the Compliance Director with special projects and compliance initiatives.

⛳️ Requirements

• Bachelor’s degree, paralegal degree, or equivalent relevant professional experience.

• Strong aptitude for researching, understanding, interpreting, and applying insurance laws, statutes, regulations, and regulatory bulletins.

• Excellent analytical, research, and problem-solving capabilities.

• Outstanding written and verbal communication skills.

• Strong attention to detail, organizational skills, and a commitment to accuracy.

• Ability to manage competing priorities, meet deadlines, and perform effectively under pressure.

• Self-motivated, adaptable, and capable of working both independently and collaboratively.

• Proficiency in Microsoft Office applications, including Excel and PowerPoint.

• Familiarity with the System for Electronic Rates & Forms Filing (SERFF).

• Competence in conducting legal and regulatory research using online resources and INSource.

• 2+ years of experience in the insurance industry is preferred.

• Previous experience in insurance product compliance, regulatory filings, product development, or a related field is preferred.

• Experience in reviewing insurance policy forms, advertising materials, or regulatory documentation is preferred.

• Participation in insurance-related professional development programs or obtaining designations such as ACS, ALMI, FLMI, and AIRC is preferred.

🏝️ Benefits

• Bonus opportunity.

• Special rates and benefits for educators.