Surplus Lines Insurance Compliance Specialist - MSI

📋 Description

• • Join MSI, a leading Managing General Agent (MGA) renowned for its expertise in crafting specialized insurance solutions and its commitment to solving complex challenges. We pride ourselves on combining deep underwriting knowledge with robust insurer and reinsurer risk capacity to empower our distribution partners and meet the unique needs of their customers.
• • At MSI, we are driven by a passion for developing innovative insurance products that address the critical risks faced by individuals and businesses. Our expanding portfolio encompasses a wide range of offerings, from fully digital embedded renters coverage to high-value homeowners insurance and sophisticated commercial coverages like cyber liability and habitational property. These products are delivered through a diverse network of agents, brokers, wholesalers, and other brand partners.
• • Our commitment to exceptional service is paramount. We understand that our partners and customers rely on us for prompt and effective solutions. Our dedicated team prioritizes rapid resolutions, and we leverage an advanced technology platform to streamline every phase of the policy lifecycle, simplifying the insurance experience.
• • As a Surplus Lines Insurance Compliance Specialist, you will play a pivotal role within our Legal & Compliance team, serving as a subject matter expert dedicated to ensuring regulatory alignment for all Excess & Surplus Lines (E&S) products across the country.
• • You will collaborate closely with internal teams, including Product Solutions, Underwriting, and the Surplus Lines Filings Team, as well as external stakeholders, to support the development, implementation, and ongoing maintenance of compliant E&S programs.
• • A key responsibility will be to meticulously monitor and interpret evolving regulatory changes that impact E&S insurance for both commercial and personal lines, including specific considerations for Risk Purchasing Groups (RPGs).
• • You will be instrumental in translating complex statutory requirements into clear, actionable process changes, effectively communicating the implications of these changes to all relevant stakeholders.
• • This role involves developing and maintaining essential internal compliance resources and conducting informative training sessions to ensure all team members are well-versed in E&S compliance protocols.
• • You will act as a go-to subject matter expert for E&S, partnering proactively with various business segments to guarantee adherence to state-specific E&S requirements and broader best practices.
• • A significant part of your contribution will be supporting the successful launch of new E&S products, ensuring their compliant implementation from inception.
• • You will serve as a crucial liaison to the Surplus Lines Filings Team, fostering effective compliance collaboration among all involved business segments to ensure seamless operations.
• • You will be responsible for responding to regulatory inquiries, conducting thorough research on complex issues, providing well-reasoned recommendations for next steps, and developing robust remediation plans when necessary.
• • In the realm of Audit & Documentation, you will develop and execute quarterly compliance assessments designed to maintain audit readiness and confirm ongoing regulatory alignment.
• • This includes conducting detailed reviews of surplus lines policy transactions to verify adherence to state and regulatory mandates. Specific areas of review will encompass:
• • The accurate submission of surplus lines taxes and fees.
• • The proper utilization of surplus lines disclosures on all policy forms.
• • The review of diligent effort affidavits and required forms as stipulated by state insurance departments.
• • Validation of E&S workflows, forms, and documentation for accuracy, ensuring seamless integration with established filing processes.
• • You will also perform ad hoc audits as dictated by risk analysis or emerging trends within the E&S landscape.
• • Driving Process Improvement is another critical aspect of this role. You will proactively identify workflow gaps and propose innovative solutions to enhance compliance efficiency and effectiveness.
• • Furthermore, you will advocate for necessary system enhancements that can improve tracking, reporting capabilities, and overall regulatory alignment.
• • This position operates in a fast-paced, multi-tasking environment, requiring a high degree of organization and the ability to manage multiple priorities under strict deadlines. Your meticulous attention to detail and problem-solving skills will be essential for success.