Market Regulation – Director
Risk & Regulatory Consulting, LLC
(Regulatory Insurance)
Work from home-any US location
Position Overview
The Market Regulation Director will primarily provide oversight over market conduct examinations, data calls and regulatory consulting services, in a lead role, on behalf of clients (state insurance departments). This position has significant opportunity for advancement as well as personal and professional growth. Responsibilities will include developing relationships with and selling regulatory services to clients; preparing and performing QA reviews of proposals; serving as an Examiner-in-Charge (EIC) on examinations; supervising/developing staff; recruiting; and leading reviews of major insurance companies’ operations and management, marketing and sales, underwriting, rating, policyholder service, producer licensing, complaint handling and claims handling processes to verify compliance with states’ insurance statutes and regulations, among other responsibilities. The successful candidate will work remotely, which may require travel at times and must be highly self-motivated and goal oriented.
Specific Duties and Responsibilities
KNOWLEDGE
- Demonstrate deep knowledge of, and provide guidance relative to, the Market Regulation Handbook, insurance laws, rules, and regulations (both current and evolving). Ensure the team’s work appropriately takes these into account in forming examination findings and recommendations.
- Have experience drafting workplans and budgets for proposals.
- Consistently enhance personal and team knowledge of principles, practices, techniques, and methods of insurance examination and regulations; insurance laws and Insurance Commissioner’s rulings; and related Attorney General Opinions and court decisions; insurance company practices; statistical sampling procedures; basic mathematics.
- Have prior EIC experience for Market Conduct examinations of significant size and complexity.
- Possess deep insurance industry experience.
- Have expertise or significant knowledge and understanding of all lines of insurance.
SKILLS
- Own growth, management, and quality of a multi-million-dollar portfolio of market regulation business.
- Build, foster, and maintain client relationships as the primary point of contact; leverage these relationships to manage, grow, and sustain a significant book of business.
- Lead numerous comprehensive, targeted, multi-state, and risk focused market conduct examinations to determine compliance with states’ insurance statutes and regulations on behalf of state insurance departments.
- Handle all aspects of the client relationship and project execution responsibilities from start to finish – e.g., RFP/proposal stage, contracting/risk management process, planning and execution of work, and wrap up/completion of all deliverables and client requirements.
- Perform reviews of assisting examiners’ examination work papers to ensure high quality and, as applicable, provide on-the-job training, developmental coaching, and feedback.
- Ensure the quality and integrity of the regulatory examination process on specific assignments. Serve as a trusted business advisor to regulators. Serve as EIC on examinations of all sizes, including those of significant size and complexity.
- Review and assess insurance company’s documentation and data to determine compliance with states’ insurance statutes and regulations.
- Review, and sometimes assist in drafting examination work papers that meet clients’ expectations and objectives.
- Assist with the preparation of reports, exhibits, and other supporting documentation and schedules that detail a company’s non-compliance with insurance statutes and regulations and recommend solutions for corrective action plans.
- Draft and submit examination reports and other deliverables for supervisory review.
- Recommend/document actions to ensure compliance with insurance statutes and regulations.
- Lead discussions of issues with examinee companies and support clients with issue resolution.
- Analyze reports and records relating to specific and overall operations of insurance companies; prepare clear, complete, concise, and informative examination reports, summary of findings, and compliance reports of condition of insurance companies for the client’s review.
- Provide trainings and presentations to small or large groups of state insurance department employees or internal staff on insurance and compliance topics, including but not limited to, the Market Regulation Handbook and examination procedures and processes.
- Make decisions based upon input and analysis from the examination team or regulators.
- Demonstrate strong computer and technology skills, including experience in using software for producing presentations, spreadsheets, and project planning (e.g., TeamMate, Access, and MS Excel, Word and Power Point).
ATTRIBUTES
- Possess:
- A demonstrated history of successful project management experience, including managing numerous large and complicated assignments concurrently.
- Excellent organizational skills and the ability to prioritize multiple tasks, projects, and assignments using effective time management skills.
- Ability to interact with all levels of management, including commissioners and deputy commissioners and executives and senior management at insurance companies.
- Outstanding interpersonal, presentation, analytical and examination/audit skills.
- Dynamic/flexible demeanor with an emphasis on exceptional client service skills.
- Strong written and verbal communication skills.
- Be a forward-thinking leader with a collaborative focus who can consult effectively with key constituents and become recognized as a valued resource.
- Be self-motivated, think critically, work well independently, and possess a strong sense of urgency and the ability to work overtime as needed focused on client deadlines.
- Be strong in team building and coaching, and people development/management.
- Demonstrate integrity and maintain professionalism in difficult conversations and situations with staff and client.
Requirements
- Bachelor’s Degree with a preference in Business, Risk Management, Accounting or Finance
- Minimum of 10+ years insurance experience with a State Insurance Department, insurance company, examination firm dealing with compliance and market regulation or with a public accounting firm as an internal or external auditor of insurance companies, insurance compliance professional or market conduct examiner.
- Candidates must have completed or are actively pursuing professional insurance designations such as CIE/AIE, MCM, AIRC, FLMI, CPCU, or CLU.
- Flexibility for travel
Risk & Regulatory Consulting, LLC (RRC) was formerly a business segment of RSM US LLP (formerly McGladrey) until 2012 when the separate legal entity was formed. RRC is a strategic business partner with RSM providing actuarial and insurance industry consulting services to RSM clients.
Risk & Regulatory Consulting, LLC (RRC) is a national, leading professional services firm dedicated to providing exceptional regulatory services to clients. With over 100 experienced insurance professionals located in 22 states, we believe RRC is uniquely positioned to serve state insurance departments. We offer services in the following regulatory areas: financial examinations, market conduct examinations, insolvency and receiverships, actuarial services and valuations, investment analysis, reinsurance expertise, market analysis and compliance, and special projects. We are a results oriented firm committed to success that builds long term relationships with our clients.
RRC is managed by eight partners and our practice includes full time professionals dedicated to our regulatory clients. We are focused on listening to your needs and designing customized examination, consulting, and training solutions that address your needs. We bring multiple service lines together to provide superior and seamless service to our clients. We are committed to training our customers and our team. We have developed various comprehensive in house training programs that have been tailored to meet the needs of our regulatory clients. We offer competitive pricing, outstanding experience, credentials and references. RRC is an active participant in the NAIC, SOFE, and IRES.
For well-qualified candidates, please apply here:
https://rsm.wd1.myworkdayjobs.com/RSMCareers/job/Remote/Market-Conduct-Director_JR114458
