Compliance Coordinator

4 weeks ago


Seattle, United States LHH Full time

Title: Compliance Coordinator

Job Description:

As an Compliance Coordinator, you will play a pivotal role in ensuring that insurance contracts and policies are in adherence to regulatory standards and organizational protocols. You will be responsible for meticulously reviewing insurance contracts, policies, and related documents to ensure accuracy, completeness, and compliance with legal requirements and industry standards.

Key Responsibilities:

  1. Contract Review: Thoroughly examine insurance contracts, policies, and related documents to identify any discrepancies, inconsistencies, or non-compliance issues.
  2. Regulatory Compliance: Stay abreast of regulatory changes and updates within the insurance industry to ensure that all contracts and policies meet legal requirements and compliance standards.
  3. Policy Analysis: Analyze insurance policies to verify that they align with company guidelines, underwriting standards, and risk management practices.
  4. Documentation Management: Maintain organized records of all insurance contracts and policies, including updates, amendments, and revisions, ensuring accessibility and accuracy for auditing purposes.
  5. Communication and Collaboration: Work closely with various stakeholders, including legal teams, underwriters, brokers, and regulatory authorities, to address compliance concerns, resolve issues, and implement necessary changes.
  6. Risk Assessment: Assess potential risks associated with insurance contracts and policies, providing recommendations for mitigating risks and improving compliance procedures.
  7. Quality Assurance: Conduct periodic audits and quality assurance checks to ensure that insurance contracts adhere to established compliance protocols and industry standards.
  8. Training and Education: Provide guidance and training to internal teams on compliance requirements, contract best practices, and regulatory updates to foster a culture of compliance awareness.
  9. Continuous Improvement: Identify opportunities for process improvements and efficiency enhancements within the contract compliance workflow, implementing measures to streamline procedures and reduce errors.
  10. Reporting: Prepare and present reports on contract compliance metrics, trends, and issues to senior management, offering insights and recommendations for improvement.

Qualifications:

  • Previous experience in insurance administration, contract management, compliance, or related roles preferred.
  • Strong understanding of insurance regulations, contracts, and compliance frameworks.
  • Excellent attention to detail and analytical skills.
  • Effective communication and interpersonal abilities.
  • Proficiency in utilizing relevant software and tools for contract management and compliance tracking.
  • Ability to work independently and collaboratively in a fast-paced environment.

The Compliance Coordinator role demands meticulous attention to detail, a comprehensive understanding of regulatory requirements, and effective communication skills to ensure that insurance contracts and policies are in full compliance while mitigating risks for the organization.



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