Compliance Analyst, ANV

AmTrust Financial Services Inc.; New Jersey; On-site; USD 80,000 - 110,000; Full time

Job summary

A leading insurance firm based in New Jersey is seeking a Compliance Officer to ensure regulatory compliance and oversee internal policies. The ideal candidate will have extensive experience in compliance roles within the insurance industry, focusing on financial lines and cyber insurance. As part of the Compliance Team, you will work in collaboration with insurers and brokers to uphold operational integrity and the company’s reputation.

Benefits

Medical & Dental Plans

Life Insurance

401k Savings Plans

Paid Time Off

Qualifications

• 5+ years of experience in compliance, legal, or regulatory roles within the insurance industry.
• In-depth knowledge of relevant regulations, including state insurance laws.
• Ability to interpret complex regulations and communicate them effectively.

Responsibilities

• Monitor and interpret state regulations applicable to insurance and MGAs.
• Develop, review, and implement compliance policies and procedures.
• Conduct investigations into compliance breaches or concerns.

Skills

Analytical Skills

Communication

Organizational Skills

Interpersonal Skills

Education

Bachelor’s degree in Risk Management, Business Administration, Finance, Law, or a related field

Job description

Overview

ANV Global Services underwrites as a Global MGU with centers in Europe, and the USA. From our offices in Barcelona, London and Morristown, NJ, we provide underwriting expertise for some of the strongest and highest rated and financial partners in the market. The Compliance Team at ANV works closely with insures, brokers and underwriters to ensure that the company adheres to various regulatory and contractual obligations.

Weare currently looking for a Compliance Officer to join our Team in Morristown, New Jersey.

The Compliance Officer will oversee and ensure compliance with state regulations, company policies, and agreements with capacity providers for a Managing General Agent specializing in financial lines, transaction risk, and cyber insurance. This role is pivotal in safeguarding the MGA's reputation and maintaining operational integrity by ensuring that all activities adhere to legal and regulatory requirements. You will work directly with the Insurers and Brokers across US and European Market. You will proactively assist the Compliance Manager located in the Barcelona office with policy development, audits, trainings, investigations and with Regulatory bodies in the US and Europe.

Responsibilities

1. Regulatory Compliance:

• Monitor and interpret state regulations applicable to insurance and MGAs, ensuring the company’s operations remain compliant.
• Prepare and submit necessary regulatory filings and reports to state insurance departments.

2. Policy Development and Implementation:

• Develop, review, and implement compliance policies and procedures that reflect regulatory requirements and industry best practices.
• Conduct regular audits of existing policies to ensure continued compliance and effectiveness.

3. Risk Assessment:

• Assess and monitor compliance risks associated with product offerings in financial lines, transaction risk, and cyber insurance.
• Propose risk mitigation strategies and action plans based on assessment findings.

4. Training and Awareness:

• Develop and deliver training programs for employees on compliance-related topics, promoting awareness of compliance responsibilities and ethical conduct.
• Serve as a point of contact for compliance questions and guidance within the organization.

5. Capacity Provider Agreements:

• Conduct thorough reviews of contracts and agreements with capacity providers, particularly Lloyd's, to ensure adherence to regulatory standards and internal policies.
• Maintain organized records of all compliance-related documentation, including agreements and correspondence with providers
• Ensure compliance with binder parameters via proactive and reactive monitoring of underwriting and claims handling

6. Collaboration and Reporting:

• Collaborate with internal departments (e.g., underwriting, claims, and finance) to ensure compliance considerations are integrated into daily operations.
• Prepare and present compliance reports to senior management and the board of directors, highlighting key compliance issues and initiatives.

7. Investigation and Resolution:

• Conduct investigations into compliance breaches or concerns, documenting findings and recommending corrective actions.
• Liaise with regulatory bodies in the event of inquiries or audits.
• Promote the growth and strong reputation of ANV Global Services / AmTrust Group.
• Assist Operations Manager with additional ad hoc projects to help achieve overall operation efficiencies with the Claims and Underwriting Teams.

#AmTrust

Qualifications

Qualifications:

• Bachelor’s degree in Risk Management, Business Administration, Finance, Law, or a related field.
• 5+ years of experience in compliance, legal, or regulatory roles within the insurance industry, particularly in financial lines, transaction risk, and cyber insurance.
• In-depth knowledge of relevant regulations, including state insurance laws and data privacy regulations.
• Strong analytical skills with the ability to interpret complex regulations and communicate them effectively.
• Excellent organizational skills, attention to detail, and the ability to manage multiple tasks and priorities.
• Strong communication and interpersonal skills, with the capability to work collaboratively across departments and with external parties.

Working Conditions:

• Primarily office-based with occasional travel as required.
• The role may involve working under tight deadlines, requiring strong time management skills.

This job description is designed to provide a general overview of the requirements of the job and does not entail a comprehensive listing of all activities, duties, or responsibilities that will be required in this position. AmTrust has the right to revise this job description at any time.

What We Offer

AmTrust Financial Services offers a competitive compensation package and excellent career advancement opportunities. Our benefits include: Medical & Dental Plans, Life Insurance, including eligible spouses & children, Health Care Flexible Spending, Dependent Care, 401k Savings Plans, Paid Time Off.

AmTrust strives to create a diverse and inclusive culture where thoughts and ideas of all employees are appreciated and respected. This concept encompasses but is not limited to human differences with regard to race, ethnicity, gender, sexual orientation, culture, religion or disabilities.

AmTrust values excellence and recognizes that by embracing the diverse backgrounds, skills, and perspectives of its workforce, it will sustain a competitive advantage and remain an employer of choice. Diversity is a business imperative, enabling us to attract, retain and develop the best talent available. We see diversity as more than just policies and practices. It is an integral part of who we are as a company, how we operate and how we see our future.