Underwriting Compliance Specialist

Job not on LinkedIn

🕒 May 20

🌲 North Carolina – Remote

🌲 North Carolina – Remote

💵 $78k / year

⏰ Full Time

🟡 Mid-level

🟠 Senior

📋 Underwriter

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Ryan Specialty

WebsiteLinkedInAll Job Openings

1001 - 5000 employees

Founded 2010

💸 Finance

🤝 B2B

Insurance • Finance • B2B

Ryan Specialty is an international specialty insurance firm that provides innovative solutions for brokers, agents, and insurance carriers. The company offers a range of services including wholesale brokerage, binding authority, and underwriting management through highly specialized managing general underwriters. Ryan Specialty is a leader in the wholesale brokerage industry, providing expertise with local knowledge and national authority. The firm is committed to delivering distinct national specialty programs and bespoke alternative risk solutions, supporting its clients with comprehensive insurance services.

📋 Description

• Plans and organizes audits of underwriting processes to ensure compliance with regulatory requirements, company policies, and industry standards. • Develops an understanding of underwriting practices and policies, identifying key risk areas within the underwriting function. • Develops and implements audit procedures to evaluate the effectiveness of underwriting practices and adherence to established policies. • Conducts regular audits of the underwriting processes, policy issuance, and claims handling to assess compliance and identifies areas for improvement. • Evaluates the risks associated with underwriting practices, policies, and procedures, assessing the adequacy of controls in place. • Maintains accurate and up-to-date records of underwriting audits, compliance assessments, and related documentation. • Ensures that all relevant documentation is organized and accessible for internal and external audits. • Prepares and submits regular reports on the status of underwriting compliance and audit activities to management and regulatory authorities. • Provides insights and recommendations for improvements based on audit findings, contributing to enhanced underwriting processes. • Communicates audit findings, recommendations, and compliance issues to relevant stakeholders, including underwriters, brokers, and management. • Ensures that underwriting practices comply with regulatory requirements, industry standards, and company policies. • Engages in continuous monitoring of underwriting activities, staying informed about changes in regulations and industry best practices.

🎯 Requirements

• Minimum of 5 years of experience in Insurance Industry or Underwriting with a Bachelor’s degree, or minimum of 3 years of experience and a Master’s degree. • Bachelor’s degree required, Master’s degree preferred; Finance, Business Operations and Risk Management preferred. • Any other related discipline or commensurate work experience considered. • Prescribed: Minimum requirements for state P&C and/or surplus line licenses • Preferred: Certified Internal Auditor (CIA)

🏖️ Benefits

• paid time off for company holidays • vacation • sick and personal days • paid parental leave • mental health services and more