Compliance & Product Specialist

Obsidian Insurance Holdings, Inc; United States; Remote; USD 120,000 - 180,000; Full time

Benefits offered by this job

401k retirement options

Group life, AD&D and short-term and/or

Health Savings Accounts and Flexible**

Employee Assistance Program

100% remote workforce, flexible sched.

Company offsites to collaborate anda0

Job summary

Obsidian Insurance Holdings, Inc. is seeking a Compliance and Product Specialist for a 100% remote role with priority given to the eastern and central time zones.

The position requires experience in Property & Casualty program compliance, policy forms, filings, and cross-team collaboration across Obsidian’s departments. The candidate will review coverage forms, interpret regulatory changes, and manage program compliance, working with Underwriting, Actuarial, and Accounting.

Qualifications

• 7+ years of related compliance experience in P&C insurance.
• Experience drafting coverage forms and endorsements.
• Juris Doctorate and bar admission in at least one U.S. jurisdiction (desired).
• Strong written and verbal communication.
• Ability to summarize information clearly and concisely.
• Excellent organization and ability to manage multiple deadlines.
• Strong analytical skills to review contracts and underwriting guidelines.

Responsibilities

• Review forms and endorsements for P&C lines to ensure underwriting intent and state compliance.
• Interpret new laws, regulations, bulletins, and regulatory publications affecting Obsidian.
• Manage and monitor assigned programs with agents.
• Perform due diligence reviews of new program business including OFAC, TRIA, cybersecurity laws, retention laws.
• Collaborate with Underwriting during implementation and launch phases.
• Collaborate with Actuarial during implementation and pricing review.
• Gather data with Actuarial and Accounting for regulatory data calls.
• Oversee filing work by third-party vendors and communicate approvals.
• Conduct compliance audits and report findings to Legal, Underwriting, Actuarial, agents.
• Ad hoc compliance research/projects.

Skills

7+ years experience

P&C program knowledge

Drafting coverage forms

Juris Doctorate

Written and verbal communication

Concise summaries

Multitasking & prioritization

Contract analysis

Education

Juris Doctorate

Job description

Location: 100% remote position, priority given to in eastern and central time zones

Travel Required: Less than 10%

Direct Reports: n/a

Obsidian offers a competitive benefits package including:

• 401k retirement options
• Group life, AD&D and short-term and long-term disability
• Health Savings Accounts and Flexible Spending Accounts
• Employee Assistance Program
• 100% remote workforce, flexible schedule and paid holidays
• Company offsites to collaborate and have fun in person!

**This position is not eligible for visa sponsorship; applicants must have authorization to work in the United States**

We are looking for someone who knows P&C insurance compliance and enjoys solving the questions that come with bringing insurance products and programs to market. As our Compliance and Product Specialist, you will work across regulatory requirements, policy forms, filings, and program business while partnering closely with teams across Obsidian.

Due to the fast-paced nature of the regulatory and business environments, the position requires the ability to quickly adapt to change and to multi-task various assignments. The individual must be able to provide compliance guidance that balances both regulatory requirements while meeting business objectives. The individual will exercise judgment within defined procedures and practices to determine appropriate action.

Requirements

• 7+ years related experience.
• Prior Property and Casualty Program business experience, including admitted and non-admitted regulatory environments.
• Experience drafting coverage forms and endorsements.
• Juris Doctorate from an accredited law school and currently licensed to practice law in at least one U.S. jurisdiction is desired.
• Effective written and verbal communication.
• Ability to summarize information clearly and concisely.
• Ability to effectively organize, prioritize, and meet deadlines for multiple, simultaneous projects.
• Strong analytical ability to review contracts, underwriting guidelines and policy wording.

Position Responsibilities

• Review coverage forms and endorsements for all Property and Casualty lines of business, including Commercial General Liability, Commercial and Personal Auto, Commercial and Personal Inland Marine, Commercial Property, Professional Liability, Management Liability, Cyber and Homeowners, to ensure they convey underwriting intent and are in compliance with state requirements.
• Review and interpret new or revised laws, regulations, bulletins and regulatory publications applicable to Obsidian business, as directed.
• Manage and monitor assigned programs in accordance with Obsidian business standards and regulatory environment. This requires meetings and email communication with general agents.
• Conduct an initial due diligence review of new program business, including reviewing compliance with OFAC, TRIA, cybersecurity laws, record retention laws, policy issuance and cancellation/non-renewal laws, motor carrier and DMV automobile filings, and other regulatory compliance requirements. Maintain ongoing compliance oversight after program implementation.
• Work closely with Obsidian’s Underwriting department during the implementation and launch phases for new business and renewal phase for existing business. On all program business, this includes communicating compliance and product findings during the due diligence review to the assigned underwriter; working closely with Underwriting on coverage intent, coverage form and endorsement language, underwriting guidelines, program launch and ongoing program monitoring.
• Work closely with Obsidian’s Actuarial department during the implementation and launch phases for new business and renewal phase for existing business. On all program business, this includes reviewing rating and associated rules for coverage forms and endorsements.
• Work with Actuarial and Accounting to identify and gather data necessary to respond to state data calls and regulatory reports.
• Manage third party vendors’ filing work, including overseeing the filing preparation, signing off on the final filing package, reviewing state objections, escalating objections to Underwriting and Actuarial, and communicating filing approvals to Obsidian stakeholders.
• Perform due diligence and compliance audits on program business, produce an audit report and communicate findings to Obsidian’s Legal, Underwriting, Actuarial departments and external general agents.
• Ad hoc compliance related research/projects.