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Lead Regulatory Affairs Specialist

2 months ago


Saint Paul, Minnesota, United States Travelers Full time

About Us

At Travelers, we prioritize the well-being of our clients, communities, and each other. This commitment has solidified our standing as a premier property casualty insurer for over 160 years. Join our innovative culture that thrives on teamwork and collaboration. Envision a career where you truly enjoy what you do and where you do it.

Job Category

Regulatory Affairs

Compensation Overview

The annual base salary range for this position reflects a nationwide market range and encompasses a wide spectrum of salaries for this role across the country. The actual salary will be influenced by various factors, including the role's scope, complexity, and location; the candidate's skills, education, training, credentials, and experience; along with other employment conditions. Our comprehensive compensation and benefits program also includes eligibility for performance-based cash incentive awards.

Salary Range

$68,000 - $113,000

Target Openings

1

What Is the Opportunity?

In this role, you will oversee the development, submission, negotiation, and approval of rate, rule, and form filings that align with business objectives while adhering to regulatory standards. You will take the lead in managing complex and contentious filings and associated issues. Additionally, you will provide guidance and mentorship to the Regulatory team and offer technical support to business units on filing-related matters. Coordination with representatives from various departments, including Legal and Government Affairs, will be essential to ensure the involvement of the right individuals throughout the filing process. You may also assist in managing regulatory initiatives and implementing strategies to ensure compliance following Market Conduct Exams, Interrogatories, Data Calls, etc.

What Will You Do?

Develop and prepare rule, rate, and form filings to meet business unit goals and secure regulatory approval, providing direction and support to business units in the preparation of necessary materials. Manage communication and negotiation of filings with state insurance departments to achieve timely approval of company products. Utilize problem-solving techniques to assist business unit personnel in addressing regulatory issues, ensuring timely implementation of filings. Review and analyze state insurance department statutes, regulations, and bulletins to ascertain filing and regulatory requirements, staying informed on changes that affect insurance design and development. Cultivate extensive personal relationships with state insurance department staff and collaborate with Legal, Government Affairs, and Compliance teams to identify and communicate sensitive regulatory issues. Assist with various inquiries, including market conduct exams, regulatory audits, data calls, or consumer complaint handling. Participate in MCAS and conduct research and analysis of DOI inquiries and criticisms from regulators. Undertake additional duties as assigned by senior staff, including short or long-term projects.

What Will Our Ideal Candidate Have?

In-depth knowledge of regulatory and compliance aspects of the insurance sector. Familiarity with business line products, including company organization and procedures. Strong verbal and written communication skills with the ability to negotiate effectively. Excellent analytical and research capabilities. Proficient prioritization and organizational skills. Knowledge of various computer applications (Email, Microsoft Word, etc.) Technical/Business Competence: Comprehensive understanding of general regulatory requirements related to commercial insurance. Expertise in state regulations for assigned jurisdictions. Creative problem-solving skills to identify complex filing issues. Ability to produce quality work that is accurate, clear, concise, and thorough. Communication: Skill in presenting complex regulatory issues clearly. Ability to synthesize and convey complex data effectively. Superior verbal and written communication skills. Effective communication across all organizational levels. Self-Management: Accountability for decisions and actions. Capacity to prioritize and manage multiple duties and projects efficiently. Establishing credibility and reliability within and outside the organization. Understanding the business and responding to related issues promptly. Interpersonal Skills/Contribution to Overall Effectiveness of Unit: Ability to build and maintain cooperative relationships across organizational lines. Openness to new responsibilities and adaptability to change. Capability to represent the company effectively in sensitive environments. Ability to work independently and collaboratively in a team setting.

What Is in It for You?

Health Insurance: Employees and their eligible family members, including spouses, domestic partners, and children, are eligible for coverage from the first day of employment. Retirement: Travelers matches your 401(k) contributions dollar-for-dollar up to your first 5% of eligible pay, subject to an annual maximum. If you have student loan debt, you can enroll in the Paying it Forward Savings Program, where Travelers contributes to your 401(k) account when you make a payment toward your student loan. You are also eligible for a Pension Plan fully funded by Travelers. Paid Time Off: Start your career at Travelers with a minimum of 20 days of Paid Time Off annually, plus nine paid company holidays. Wellness Program: Our wellness program includes tools, discounts, and resources to help you achieve your wellness goals and caregiving needs, along with access to free professional counseling services and health coaching. Volunteer Encouragement: We are committed to the communities we serve and encourage employee involvement. Travelers offers a Matching Gift and Volunteer Rewards program to support charitable contributions.

Employment Practices

Travelers is an equal opportunity employer. We believe that our workforce should reflect the diverse customers and communities we serve. We are dedicated to recruiting, retaining, and developing diverse talent and fostering an inclusive workplace that celebrates differences and promotes belonging.