Compliance Analyst

Job Description:

Job Summary

The Compliance Analyst will work closely with the business units to ensure compliance with applicable federal and state insurance laws and regulations. Responsible for helping the business achieve its goals by identifying regulatory issues, determining where business might be at risk and providing appropriate information to regulatory entities to mitigate risk.

Essential Functions include the following. Other duties may be assigned.

• Develop and maintain agency management system to monitor agency compliance with state requirements.
• Receives and processes application paperwork required to onboard insurance producers. Including background checks license verification and all other necessary requirements to conduct business. Including setup of producer information in all agency and policy systems, and producer portals.
• Review producer agreements, commission schedules and similar material as submitted by agents and brokers as necessary for proper onboarding or as required by the business units. Including agency mergers and buyouts.
• Process new producer appointments with the Department of Insurances for the carriers appropriate to the line of business. Track and complete periodic appointment renewals. 
• Process applications and renewal for all internal agency licenses.
• Monitor state laws, regulations, and bulletins to ensure agency partner compliance and internal agency compliance.
• Conduct monthly agency file audits.
• Surplus Lines periodic reporting.
• Manage and maintain compliance email inboxes and daily incoming mail.
• Maintain state required complaint logs and all complaints from inception to closure. Work with the department directors and staff to address, resolve and respond to all complaints.
• Complete daily balance queries, initiate corrective actions, and complete month end reporting queries.
• Manage Outside vendor administration.
• Manage W-9 request.
• Work directly Business Unit Leaders regarding all agency issues.
• Respond to compliance research request from across the company to provide regulatory guidance on various initiatives.

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Active Notary License or the ability to obtain a Notary License.

Education and/or Experience

Associates Degree ; or 1-4 years related experience and/or training; or equivalent combination of education and experience.

Knowledge/Skills

• In-depth understanding of all licensing processes across multiple product lines and units.
• Working knowledge of producer licensing contracting requirements
• Ability to read, comprehend and act upon insurance policy language and insurance regulations.
• Detail oriented with the ability to work in a team environment and be flexible to daily changing needs and job duties.
• Ability to analyze and problem solve, working closely with others to coordinate and complete projects.
• Excellent oral, written, and interpersonal communication skills. 

Computer Skills

Advanced Microsoft Office skills are required with emphasis on Word and Excel. Advanced skills with WPC, Coverall, Odessey, Diamond, etc.

Hallmark Financial Services is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.