Director, Compliance (Surety)

Travelers Insurance Company; Toronto; On-site; CAD 90,000 - 120,000; Full time

Job summary

Join a leading insurance company as an Underwriting Audit Manager, where you will play a crucial role in managing underwriting audits and ensuring compliance with corporate standards. Oversee the preparation of management reports and lead a high-performing team while enhancing underwriting controls for operational excellence. Enjoy a comprehensive benefits package and a workplace committed to diversity and inclusion.

Benefits

Health Insurance

Retirement Plan

Paid Time Off

Wellness Program

Volunteer Encouragement

Qualifications

• Minimum of 8 years of experience in business, insurance, risk management, and/or audit.
• Advanced decision-making skills.
• Subject Matter Expert for key duties.

Responsibilities

• Manage and execute underwriting guidelines and controls.
• Conduct audits and manage audit reports.
• Monitor compliance with business standards.

Skills

Risk Assessment

Auditing Principles

Communication

Attention to Detail

Tools

Microsoft Word

Microsoft Excel

Microsoft Outlook

Job description

Solid reputation, passionate people and endless opportunities. That’s Travelers. Our superior financial strength and consistent record of strong operating returns mean security for our customers – and opportunities for our employees. You will find Travelers to be full of energy and a workplace in which you truly can make a difference.

Job Category

Target Openings

What Is the Opportunity?

Manage & monitor the design and execution of underwriting guidelines and controls for the Travelers Canada Businesses to ensure compliance & alignment with Corporate UW standards.

What Will You Do?

Executes or assists in the management, development and execution of the underwriting audit functions for the business. Includes updating audit policies and procedures, participating in audits, scheduling audit, acting as audit leader, compiling and writing audit reports, selecting audit team, reperforms and assists with corrective action plans.

Assesses or assists with the execution of underwriting controls, determines the potential impact of any insufficient execution and recommends corrective actions to the business.

Prepares or assists with the preparation of Senior Management reports and reports required according to Business Unit Underwriting Standards and Enterprise key functions such as SOX certification, underwriting authority, business contingency plan, legal compliance, systems access, sanctions.

Prepares monitoring reports that highlight any key developments in the business and recommends a course of corrective action.

Monitors and assists business with collateral management, record retention, confidentiality agreements, bond & policy records, paperless strategies, credit card payment.

Continuous Improvement of Underwriting Controls : Conduct ongoing assessments of all Underwriting controls to ensure effectiveness, efficiency, consistency, as well as utilization of best practices. Implement enhancements as needed and monitor all controls with an emphasis on ownership of these controls by the responsible parties.

Work with Underwriting Management to create Authority Letter Templates for each of our various Underwriting positions ensuring adherence to Enterprise and individual product guidelines. Solicit annual updates and maintain file with original signatures / affirmations to make available to independent auditors.

May serve as point of end contact for specific Business Unit, Enterprise Underwriting, Corporate Audit, Compliance and Regulators regarding underwriting audit-related matters, and other key functions matters.

You will be expected to anticipate future development and operational needs and communicate to the attention of senior management. You provide expertise and support to the business to ensure and improve compliance, and actively participate in determining changes and enhancements to business strategy.

Conduct training and awareness programs and presentations to all levels of the organization. Provide expertise and support to educate and facilitate improvement in employee skills.

Building and leading a high-performing and engaged team. You will help define and select the talent we need for today and tomorrow, identify and nurture potential, and provide guidance, coaching, mentoring, and insight.

Leading in a participative, inclusive manner and leveraging differences.

Managing through change effectively, thoughtfully, and by “modeling the way.”

Perform other duties as assigned.

What Will Our Ideal Candidate Have?

Thorough knowledge of risk assessment, technology and auditing principles

General knowledge to adhering and enticing people to policies, procedures and best practices

A Subject Matter Expert for key duties

Experience in surety business underwriting

Additional knowledge of legal environment affecting the operations of insurance companies

Advanced knowledge of surety underwriting competencies and practices in dealing the surety related business.

Advanced knowledge multiple functions of surety underwriting such as financial analysis, assessment of risk, invoicing of premium, reinsurance, and monitoring of business activities through reports.

Intermediate knowledge of Microsoft applications (Word, Excel, and Outlook).

Advanced attention to detail, advanced writing capabilities, influencing people, advanced verbal communication with peers and other internal business owners, and advanced decision making skills.

What is a Must Have?

Minimum of 8 years of experience in business, insurance, risk management, and / or audit.

What Is in It for You?

Health Insurance : Employees and their eligible family members – including spouses, partners, and children – are eligible for coverage from the first day of employment.

Retirement : Travelers provides a core contribution of 3% of your total eligible earnings to your Deferred Profit Sharing Plan (“DPSP”). Travelers also matches your savings plan contribution dollar-for-dollar up to 5% of base pay.

Paid Time Off : Start your career at Travelers with a minimum of 20 days Paid Time Off (“PTO”) annually, plus the opportunity to purchase additional days to allow for up to a total of 36 PTO days per year. You will also receive twelve paid company Holidays.

Wellness Program : The Travelers wellness program is comprised of tools, discounts and resources that empower you to achieve your wellness goals and caregiving needs. In addition, our mental health program provides access to free professional counseling services, health coaching and other resources to support your daily life needs.

Volunteer Encouragement : We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards program that enables you to give back to the charity of your choice.

Employment Practices

Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences.

We are committed to providing accommodation to persons with disabilities. If you require accommodation during the recruitment or interview process we will work with you to accommodate your needs.

If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email ([emailprotected] ) so we may assist you.

Travelers reserves the right to fill this position at a level above or below the level included in this posting.

To learn more about our comprehensive benefit programs please visit http : / / careers.travelers.com / life-at-travelers / benefits / .

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