Compliance Officer - Small Commercial Whitehouse Station, NJ
Chubb is the world's largest publicly traded property and casualty insurer. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally.
We seek highly motivated individuals to join our team who exhibit the best-in-class competencies listed below and embody the OGC culture.
* We deliver high quality work product, services and solutions that demonstrate understanding of the needs and requirements of our business partners and support achievement of team goals. * We adapt to changing business needs and environments through a proactive, flexible approach that achieves results and strikes the proper balance among all constituencies. * We demonstrate character, integrity and professionalism, both within a team environment in OGC and in fulfilling our responsibilities to our business partners. * We build collaborative, trusting relationships with team members and business partners through superior communication skills, empathy and respect. * We independently manage work responsibilities through commitment, dedication and accountability, and display an on-going commitment to self-improvement.
This individual will support the North America (NA) Compliance Assurance team within the Office of General Counsel (OGC) by enforcing compliance standards to monitor, detect and prevent compliance deficiencies. The individual selected for this position will be solely dedicated to the Small Commercial Insurance (SCI) business segment and would be responsible for promoting initiatives to implement policies, procedures, and other controls to mitigate business compliance risks. The individual selected for this position will report directly to the NA Chief Compliance Officer and will work closely with the Business Compliance Officer for Commercial and Small Commercial and the Senior Commercial Lines Compliance Officer.
In addition, this individual will partner with Underwriting, Operations, Marketing, Information Technology, Compliance Assurance, and various members of OGC to properly monitor, detect, and mitigate compliance risks. This role will interact with all levels of leadership and therefore will need to exhibit strong interpersonal and communications skills. More importantly, the ideal candidate will need to be flexible and adaptable to an evolving organization.
MAJOR DUTIES & RESPONSIBILITIES:
* Participate in the SCI compliance risk management initiatives to support the Business Compliance Plan objectives. This would involve the identification of compliance and regulatory risks impacting the business, determination of risk controls, and development of mitigation plans; * Assess the significance and relevance of identified compliance risks ensuring timely escalation to the NA compliance officers and resolution development; * Partners with colleagues in NA Compliance, Legal, and Internal Audit to ensure products, systems, processes & procedures are in compliance with all regulatory requirements; * Partner with the NA Compliance team to support the resolution of regulatory issues arising out of examinations, audits, and inquiries to develop creative solutions to reduce ongoing risk; * Partner with internal colleagues for compliance-related matters, including workflows, policies and procedures, quality review, action plans and training; * Manage multiple deadlines and changing priorities with strong organization and project management skills; * Participate in the preparation of quarterly reports to NA Compliance regarding all compliance assurance activities; * Support the development of compliance training and awareness campaigns to educate the business on compliance and regulatory risk exposures, policies, emerging trends, and Best Practices on the proper safeguards in mitigating compliance and regulatory risks; * Maintain competency through ongoing professional development and active participating through internal and external training sources; * Research and draft adverse action notices to insureds (conditional renewal, nonrenewal, and cancelation notices); * Assess underwriting and operational processes to identify potential compliance risks and present solutions that contemplate the SCI business model; * Collaborate with OGC to ensure that products are being written in compliance with what has been filed and approved; * Collaborate with Product leaders to ensure that everyone is aware of all compliance related matters that are unique to specific lines of business; * When underwriting audits are initiated, ensure the compliance portion of the underwriting audit is completed as prescribed by North America Compliance, as well as track compliance findings and implementation of recommendations; * Respond to statutory and regulatory issues in coordination with NA Compliance and OGC; * Potentially assist in the coordination of filing efforts for SCI products; and * Potentially conduct compliance training for UW personnel that is specific to the SCI model and systems.
* 5 years of insurance industry experience, primarily in the area underwriting, audit, compliance, or operations; * Demonstrated understanding of policy lifecycle and the associated impact of the insurance regulatory environment; * A graduate degree a plus (JD, MBA, other); * Very strong analytical and technical skills in using data analytics to understand the \"root causes\" of compliance deficiencies and effectiveness of controls for areas reviewed; * Strong working knowledge of monitoring & testing practices; * Strong verbal and written communication skills; * Strong organizational skills and the ability to consistently execute and deliver results; * Ability to manage multiple projects in a dynamic developing environment; * Must be a self-starter with demonstrated ability to work independently; * Demonstrated ability to develop relationships; * Strong knowledge of MS Project, Excel, PowerPoint Word; and * Knowledge of SCI rating and underwriting systems is a plus.
Chubb offers a competitive compensation package and comprehensive benefits package including life, health and dental, vision, a generous retirement savings plan, disability coverage, stock purchase plan, flexible spending accounts, tuition reimbursement, and business casual dress. At Chubb, we are committed to equal employment opportunity and compliance with all laws and regulations pertaining to it. Our policy is to provide employment, training, compensation, promotion, and other conditions or opportunities of employment, without regard to race, color, religion, age, sex, sexual orientation, transgender, national origin, disability, genetic information, veteran or marital status, or any other characteristic protected by law.
For additional information about Chubb or its services, please visit our website at
Please direct any questions regarding this opportunity to Kevin Duda at ...@chubb.com or 215-###-####.
Job Requisition #322440
In order to be considered an applicant for employment with Chubb, all applicants must go to Chubb's Careers website to apply for the position(s) of interest and complete an online application. If you do not complete the online application, you will not be considered an applicant in accordance with Chubb's policy.