Senior Compliance Analyst

Munich Reinsurance America, Inc; Schaumburg (IL); On-site; USD 95,000 - 140,000; Full time

Job summary

An established industry player is seeking a Senior Compliance Analyst to join their dynamic team in Schaumburg, IL. This role offers the opportunity to work within a collaborative environment, driving compliance policies and procedures across the organization. Ideal candidates will possess strong analytical skills and a deep understanding of insurance regulations. With a focus on innovation and excellence, this position allows you to contribute to meaningful projects that impact the industry. Join a forward-thinking company that values diversity and inclusion, fostering a culture where every team member can thrive and grow.

Benefits

Health Insurance

Employee Wellness Program

Life and Disability Insurance

401k Match

Paid Holidays

Paid Time Off (PTO)

Qualifications

• Minimum 5+ years of insurance compliance experience required.
• Excellent verbal and written communication skills are essential.
• Compliance certification or P&C license is a plus.

Responsibilities

• Identify and resolve insurance compliance issues.
• Assist in developing compliance policies and procedures.
• Monitor compliance risk areas and provide reports to management.

Skills

Insurance Compliance

Commercial Lines Insurance

Regulatory Communication

Analytical Skills

Interpersonal Skills

Time Management

Education

Bachelor's Degree

Job description

Senior Compliance Analyst

Company



Munich Re America Services




Location



Schaumburg
, United States

Senior Compliance Analyst

We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.

The Company

Munich Re America Services (MRAS) is a shared service organization that delivers services to all Munich Re US P&C Companies and other group entities.

As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive - from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.

The Opportunity

Future focused and always one step ahead!

We are currently searching for a Senior Compliance Analyst to join our Legal and Compliance division in our Schaumburg, IL office. The Senior Compliance Analyst, under the direction of the Assistant Compliance Officer, will work within all areas of the business to develop, implement, and monitor Compliance policies throughout the organization. The Senior Compliance Analyst will work to drive and operationalize the compliance function throughout the organization to ensure compliance with Munich Re policies and procedures and applicable laws and regulations in support of our brokerage and underwiring functions.

We are looking for an organized, analytical, and diligent person who can work both in a team setting and independently. The candidate must have excellent interpersonal and communication skills along with the potential and desire to grow with us.

Responsibilities

* Identifying, analyzing, and resolving insurance compliance issues

* Communicating regulatory issues to the business unit leadership

* In coordination with the Assistant Compliance officer, assist in the development of compliance policies, procedures, and workflows to meet compliance standards in compliance with state, federal and international laws

* Serve as a subject matter expert on compliance related matters

* Proactively researching to stay current with insurance regulations and rules

* Provide periodic reports as requested by management

* Represent company on matters of compliance with internal clients

* Assist in identification and remediation of compliance risk areas and compliance monitoring activities

* Assist in special projects as directed, and may provide guidance to compliance analyst or associate

* Assist in review and clearance of economic sanctions 'hits'

* Assist in the filing of Zero Tax filings on behalf of the organization's brokerage division

* Adapt to evolving processes, procedures, and systems to adhere to highest and most current servicing standards.

* Monitor workload and provide feedback to Assistant Compliance Officer and the SVP, General Counsel & Chief Compliance Officer

* Train new employees on company standards and compliance procedures to ensure the highest level of service.

* Identify process/workflow gaps, needs, obstacles and pitfalls and communicate them to supervising manger.

* Maintain strong positive working relationships with key members of other departments and foster mutually beneficial communication and collaboration across functions.

Qualifications

* Minimum of 5+ years of insurance compliance experience

* Must have a thorough understanding of Commercial Lines insurance

* Understanding of Surplus Lines regulations and requirements a plus

* Understanding of insurance Brokerage operations and applicable laws/regulations a plus

* Understanding of Lloyds marketplace

* Experience documenting and implementing business processes and standards

* Excellent verbal and written communication

* Experience handling multiple high priority items simultaneously

* Adherence to quality standards and operating procedures

* Employs time/task management tools and techniques to support a large volume of work

* Compliance certification and/or P&C license or other industry designation a plus

* Experience with Commercial Property Insurance regulations

* Able to work autonomously with little day-to-day supervision

The Company is open to considering candidates in Schaumburg, Illinois. The salary range posted below applies to the Company's Schaumburg location.

The base salary range anticipated for this position is $95,100 - $139,500 plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO).

The salary estimate displayed represents the typical salary range for candidates hired in this position in Schaumburg, IL. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.

At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

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