The Travelers Companies, Inc.

Manager, Product Compliance

Posted on Mar 19 209 views Hartford, CT

Company Summary
Taking care of our customers, our communities and each other. That’s the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 160 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.

Target Openings

Job Description Summary
The Manager, Compliance is responsible for oversight and implementation of compliance initiatives within a defined business unit. This role is responsible for assisting in the development of programs and strategies to ensure compliance with state and federal laws, regulations and company policies. Additionally, this role is responsible for promoting awareness of compliance matters.

Primary Job Duties & Responsibilities
Review, documentation and responsive actions across BI Product pertaining to all regulatory notifications:
  • As a result of regulatory changes or identified business need, coordinate all necessary form research, drafting, filing and implementation across all impacted systems and related participation in STEP (as well as MSA legacy systems such as TAGs that do not participate in STEP) . This includes Plain English form work and related system implementation in CLASS
  • Collaboration with relevant impacted line product teams to determine whether different actions/approaches are needed by line
  • Where different responsive action will be needed for multiple lines, coordinate with the designees from the impacted line teams to develop, document, and execute appropriate actions
  • Support the development of product strategy and filings by conducting competitive analysis and research
  • With legal assistance, work with business areas to understand and communicate the impact of new or revised laws, regulations, bulletins and regulatory publications and implement appropriate changes or controls in response if required

Forms Management:
  • Forms Bulletin review and generation of policyholder notices, where applicable
  • Research on current installation conditions for all RQIs for forms being refiled with rule changes, or reconfigured due to changing UW criteria
  • Creation of Forms Requests in FRM for new and withdrawn forms for, including adding state by state approvals to the Forms Requests and coordinating Version Assignments by System
  • Tracking of Filing Approval Status and coordination with IT / Platform relative to installation and release dates in RQIs
  • Proofing of images for all new and revised forms
  • Ensuring forms are implemented in compliance with the filings by aligning release date with effective date
  • Documentation of Business Requirements and coordination with BA/IT for each RQI
  • Support BA in development of IT requirements
  • Evaluation and updating of Product Catalog Usage Documents
  • Impacts of policy assembly (form) defects

General Compliance team tasks:
  • FRM guidance and oversight
  • Manuscript reviews and filings
  • Forms quality/compliance assessments, research, and resolution
  • Compliance issues trending/analysis
  • Forms discrepancy management
  • Ad hoc compliance related research/projects
  • Advise, consult, train on product related regulatory matters
  • Research and conduct analysis on complex regulatory issues and work with assigned business areas to provide consultation and guidance on compliance, and regulatory issues regarding the development of new and existing products, workflows and strategies, and various compliance procedures and internal protocols
  • Collaborate with business partners to develop compliance solutions in response to compliance or regulatory discrepancies
  • Work with business partners to identify regulatory compliance or control/workflow gaps through various proactive risk-based compliance techniques. Create recommendations and/or corrective action plans and monitor for completeness

Minimum Qualifications
  • Minimum of 5 years of relevant business and/or regulatory experience required.

Education, Work Experience, & Knowledge
  • Ability to communicate thoughts/designs/ideas in an unambiguous manner and adjust communication based on audience.
  • Exhibits active and effective communication skills with team members – including active listening and effective written and verbal communication skills.
  • Ability to clearly and concisely communicate with the business.

Relationship Management/Organization:
  • Demonstrates willingness, cooperation, and concern for business issues. Ability to understand assigned business unit and business priorities.
  • Ability to build and foster relationships with team, business, and technical partners to achieve objectives.
  • Ability to coordinate with other technical areas to achieve project/department or division goals.
  • Ability to manage time and competing priorities and provide management with accurate and timely status information.

Employment Practices
Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences.

If you have questions regarding the physical requirements of this role, please send us an email so we may assist you.

Travelers reserves the right to fill this position at a level above or below the level included in this posting.