AVP, Compliance

Philadelphia Insurance Companies; Naperville (IL); Hybrid; USD 168,000 - 190,000; Full time

Benefits offered by this job

Hybrid work model

Remote consideration

Job summary

Philadelphia Insurance Companies, a Tokio Marine Group member, is expanding our Compliance team with nationwide consideration for an AVP, Compliance. The role directs activities to ensure regulatory compliance, evaluates programs, and leads remediation projects in a dynamic insurance environment.

Direct oversight includes training, state filings, and collaboration with Legal, underwriting and operations to maintain strong compliance controls and efficient processes across states and lines.

Qualifications

• Bachelor's Degree required.
• At least 15 years’ experience in a similar role for a commercial insurance carrier.
• Management experience required.
• Hybrid work model with remote consideration.
• Salary will be based on applicant experience and geographic location.

Responsibilities

• Directs activities to ensure compliance with applicable policies and regulations.
• Evaluates existing programs and develops new initiatives to reduce compliance risk.
• Ensures compliance operations are efficient and effective.
• Communicates with management; provides leadership to Field Underwriting, Claims and Customer Service staff.
• Oversees auto liability reporting system and state filings.
• Reviews training programs for compliant use of programs.
• Reviews and revises policies and procedures to ensure regulatory compliance.
• Implements improvements to systems and processes for better data quality and efficiency.
• Liaison to Legal on Department of Insurance compliance.
• Leads remediation projects and long-term planning.

Skills

Management experience

Regulatory compliance

Education

Bachelor's Degree

Job description

Marketing Statement

Philadelphia Insurance Companies, a member of the Tokio Marine Group, designs, markets and underwrites commercial property/casualty and professional liability insurance products for select industries. We have been in operation since 1962 and are nationally recognized as a member of Ward's Top 50 and rated A++ by A.M.Best.

Description

Job Description

Marketing Statement

Philadelphia Insurance Companies, a member of the Tokio Marine Group, designs, markets and underwrites commercial property/casualty and professional liability insurance products for select industries. We have been in operation since 1962 and are nationally recognized as a member of Ward's Top 50 and rated A++ by A.M.Best.

Philadelphia Insurance Companies is expanding our Compliance team with Nationwide consideration for an AVP, Compliance.

Summary

Directs activities to ensure that the company is in compliance with all applicable statutory and regulatory policies. Evaluates compliance of existing programs and procedures plus develops new initiatives to achieve desired business objectives and goals. Ensures compliance operations are functioning efficiently and effectively to avoid compliance risk to the company.

A typical day will include the following

• Effectively communicates with management on all issues both within and outside the department; provides leadership, guidance and assistance to Field Underwriting, Claims and Customer Service staff as needed.
• Monitors the development, maintenance and submission of rates, rules, forms and programs in all states/lines and underwriting guidelines and bulletins to ensure they meet regulatory compliance and company goals and objectives and that company rating systems effectively apply company filings.
• Oversees the management of all activities related to the operations and development of the company's auto liability reporting system and automobile state filings, policy notices, company data reporting, underwriting audits, producer licensing, and other units as assigned. Ensures established guidelines and procedures are in compliance with all applicable insurance laws and regulations.
• Reviews training programs to assist field underwriting in the compliant use of programs, coverages and rates; coordinates training on compliance issues identified in market conduct reviews, Department of Insurance complaints and underwriting audits. .
• Reviews and revises policies and procedures for the operations of the business units and its related activities. Ensures established guidelines and procedures are in compliance with all applicable insurance laws and regulations.
• Complies with proper internal controls as necessary to conduct job functions and/or carry out responsibilities and/or administrative activities.
• Improves current operational systems, process and policies to support enhanced decision making, more accurate data quality, increased efficiency and compliance. Creates and adapts new systems, processes and policies as needed. Monitors productivity and identifies and develops a methodology to document processes, policies and workflows.
• Serves as a liaison to Legal in addressing Department of Insurance compliance and regulatory operational processes.
• Leads remediation projects and large scale efforts based on a change in law or policy. Plays a significant role in long-term planning including initiatives geared towards operational excellence.

Qualifications

• Bachelor's Degree
• At least 15 years’ experience working in a similar role for a commercial insurance carrier
• Management experience required
• National Range $167,500.00 - $190,000.00
• Ultimate salary offered will be based on factors such as applicant experience and geographic location.
• Ultimate salary offered will be based on factors such as applicant experience and geographic location.
• We offer a hybrid work model that provides flexibility to work remotely while maintaining meaningful in-office collaboration with your team.
• Remote consideration will be given to qualified candidates located outside of the primary geographic region.

EEO Statement

Tokio Marine Group of Companies (including, but not limited to the Philadelphia Insurance Companies, Tokio Marine America, Inc., TMNA Services, LLC, TM Claims Service, Inc. and First Insurance Company of Hawaii, Ltd.) is an Equal Opportunity Employer. In order to remain competitive we must attract, develop, motivate, and retain the most qualified employees regardless of age, color, race, religion, gender, disability, national or ethnic origin, family circumstances, life experiences, marital status, military status, sexual orientation and/or any other status protected by law.

Benefits

We offer a comprehensive benefit package, which includes tuition reimbursement and a generous 401K match. Our rich history of outstanding results and growth allow us to focus our business plan on continued growth, new products, people development and internal career opportunities. If you enjoy working in a fast paced work environment with growth potential please apply online.

Additional information on Volunteer Benefits, Paid Vacation, Medical Benefits, Educational Incentives, Family Friendly Benefits and Investment Incentives can be found at https://www.phly.com/Careers/default.aspx