Compliance Associate

Job Overview

JOB DETAILS

REQUIREMENTS

• Preferred minimum of associate or bachelor’s degree in business administration or related field.
• Prior experience in process review, project management, design, and quality control measures is preferred.
• 3+ years of clerical or administrative experience in compliance, insurance, or a similar regulated environment preferred.
• Prior experience in mailroom management and processing high volumes of documents is a plus.
• Knowledge and experience using Microsoft Windows, Excel, PowerPoint, Word, etc.
• Ability to work with modern communications tools such as Microsoft Teams, SharePoint, Webex, Power BI, etc.
• Ability to adapt quickly to changing priorities and deadlines

RESPONSIBILITIES

• Will work under the supervision of the Compliance Manager or his/her delegate, processing and distributing compliance documentation to ensure that the organization adheres to relevant laws, rules, and regulations.
• Receival, organization, categorization, and stamping of all mail received in all company locations, same day received.
• Sorting of all mail to its corresponding recipients, including individuals, departments, agencies, MGAs, and/or TPAs, under internal turnaround times.
• Will actively monitor and provide recommendations and suggestions to the Compliance Manager as to process improvements and quality measures that can be implemented in the document, archiving, and correspondence workflow for the Department and external stakeholders such as MGA’s, TPA’s, and agencies.
• Participate in compliance information gathering, as requested or required.
• Maintain and update all Department logs, files, and records (e.g., claims, service of process, complaints, checks, inquiries from State Departments of Insurance).
• Responsible for validation, registration, and processing of any check received in any of our offices, properly notifying the Compliance Manager and including them in the check log.
• Monitor all Service of Process and Complaint notification emails and web portals (including but not limited to CSC, CT Corp, and Department of Insurance Complaint Portals) to ensure proper and timely referral and processing.
• Draft basic documents, including document templates and transmittal letters, for final review and signature, as required.
• Responsible for managing the Compliance Line (787) 339-2002, including directing and channeling incoming calls to the proper personnel, as well as reviewing and referring all voicemails left on that line.
• Coordinate and assist in the preparation and submission of regulatory filings, including statutory filings for all programs, products, and areas.
• Maintain the Compliance Department’s calendar, including but not limited to time-sensitive deadlines for agency and regulatory reporting, meetings, and complaint responses.
• Use subscription services and public/governmental websites and publications to conduct research in support of compliance and legal questions and projects, as needed.
• Monitor assigned insurance departments for applicable regulatory changes.
• Manage and process all requests for payments and expense reports for the Compliance Department.
• Provide support during regulatory agency and third-party inspections, assisting the Chief Compliance Officer and Compliance Manager to organize, and document audits of regulated matters with the appropriate regulators.
• Maintain detailed documentation supporting Audit, Examinations and or Market Conducts.
• Any other task delegated by the Compliance Manager.

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