Senior Manager, Workers Compensation & Casualty Lines, Regulatory Compliance Services
Hartford, CT; Exton, PA, Remote – USA
The candidate who fills this role is the technical expert and “go to” person for all things workers compensation. Manages strategic implementation and partners with Business Units, Underwriting and Middle Office, among others, to develop effective programs, initiatives, products, UW rules, guidelines, reporting and procedures for Workers Compensation general liability and auto product lines in order to meet business unit objectives, compliance standards and profitability goals. Directs, and is responsible for, product line analysis, regulatory review and compliance results. Advises senior management regarding implementation strategy that adheres to new and existing regulatory framework(s). Manages relationships with internal stakeholders, external boards, bureaus, trade groups and regulators on regulatory, compliance and reporting issues.
DISCOVER your opportunity
What will your essential responsibilities include?
Americas Compliance & Public Affairs, Regulatory Compliance Services Team
• Effectively communicates with business units regarding proposed and newly enacted regulatory changes. Ensures that established underwriting policies, guidelines, standards and procedures are in compliance with applicable insurance laws and regulations in the workers compensation line:
• Monitors state regulatory developments, evaluates impacts to business and provides feedback to trade association on workers compensation underwriting as needed.
• Directs the review of state and federal regulatory compliance requirements to include analysis of business impact/operational risk assessment for enacted laws/regulations and recommended company compliance actions to ensure regulatory compliance.
• Researches, analyzes and summarizes newly enacted laws and regulations impacting the workers compensation commercial and specialty lines.
• Drives execution of changes arising out of newly enacted laws and regulations in accordance with specified timeframes.
• Participates actively in NCCI and state board/bureau committees, as assigned.
• Partners with business partners and the Regulatory Compliance Services (also known as “RCS”) Team to coordinate the preparation of product updates and filing approvals consistent with new regulations.
• Provides support for negotiations with external agencies/organizations, such as industry trade associations, law firms and state insurance departments, regarding sensitive and/or complex issues. Provide expertise in responding to complaints, insurance department inquiries, market conduct exams and regulatory audits.
Product Development
• Evaluates implementation strategy of programs and procedures and develops new initiatives within product lines to achieve desired business objectives and goals for the workers compensation line. Analyzes product line information to identify opportunities, to develop or enhance new products, services, pricing strategies, etc. Drafts policy language in support of business objectives and goals. Supports business units by managing WC policy reporting and managing interface with states on criticisms.
• Working in concert with business units, drives the development of underwriting policies, guidelines, standards and procedures to ensure adherence with state regulatory requirements. Proactively adapts strategy in response to regulatory trends and input from business units.
Provide insight and expertise in the development of new product features or initiatives for the workers compensation line to ensure filings are submitted and approved on a timely basis and in accordance with business goals and objectives.
• Responds to inquiries associated with regulatory filings and approvals when product specific issues become the subject of heightened regulatory scrutiny.
• Ensures established guidelines and procedures are in compliance with applicable insurance laws and regulations. Oversees coordination with other internal departments to determine impacts of legislation/regulatory requirements on current processes and internal systems. Drives execution of product enhancements that comply with existing legal/regulatory requirements, adhere to statutory timelines and support business objectives.
General Responsibilities
• Lends support to monitoring functions within the Americas Compliance team, Risk Management and business units, as necessary, to complete underwriting audits, identify compliance issues and drive corrective action plans, as appropriate.
• Partners with internal departments including Underwriting, Middle Office, Americas Business Unit, IT, Legal, Actuarial, Claims, Broker Relations and Communications & Marketing on product activities and initiatives.
• Prepares regular reports on material issues for senior management.
• Reinforces Americas Compliance & Public Affairs objectives with colleagues and business partners. Completes additional projects as required by Head of Compliance and Public Affairs for the Americas, the Head of Regulatory Compliance Services, and the US-based Management Team.
You will report to the Head of Regulatory Compliance Services.
SHARE your talent
SHARE your talent
We’re looking for someone who has these abilities and skills:
Required Skills and Abilities:
• Minimum 5-7 years of workers compensation product experience; with a solid background in all casualty lines including general liability and auto liability;
• Detailed knowledge of workers compensation and casualty insurance principles and concepts required; deep understanding of large deductible programs, retros and terrorism/catastrophe filings
• Excellent project management, time management, process improvement, written and oral communication, presentation, analytical and management skills;
• Strong understanding of potential impact to other departments including affected Business Units, Underwriting, Middle Office, Claims, Actuarial, Regulatory Reporting, IT, Legal and Broker Relations based on actions taken is required;
• Team player who takes initiative and is able to work independently;
• Advanced analytical/problem solving and research skills;
• Education Level: Undergraduate degree or commensurate experience
• Travel: Limited, under 10-15 % of the Time
Desired Skills and Abilities:
• Proven track record of going beyond the question asked in developing guidance or formulating a comprehensive response;
• Ability to work with minimal supervision in highly fluid and unstructured environment;
• Ability to influence Senior Management;
• Background and understanding of all casualty lines including general liability and auto liability.
FIND your future
AXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks. For mid-sized companies, multinationals and even some inspirational individuals we don’t just provide re/insurance, we reinvent it.
How? By combining a comprehensive and efficient capital platform, data-driven insights, leading technology, and the best talent in an agile and inclusive workspace, empowered to deliver top client service across all our lines of business – property, casualty, professional, financial lines and specialty.
With an innovative and flexible approach to risk solutions, we partner with those who move the world forward.
Learn more at axaxl.com
Inclusion & Diversity
AXA XL is committed to equal employment opportunity and will consider applicants regardless of gender, sexual orientation, age, ethnicity and origins, marital status, religion, disability, or any other protected characteristic.
At AXA XL, we know that an inclusive culture and a diverse workforce enable business growth and are critical to our success. That’s why we have made a strategic commitment to attract, develop, advance and retain the most diverse workforce possible, and create an inclusive culture where everyone can bring their full selves to work and can reach their highest potential. It’s about helping one another – and our business – to move forward and succeed.
- Five Business Resource Groups focused on gender, LGBTQ+, ethnicity and origins, disability and inclusion with 20 Chapters around the globe
- Robust support for Flexible Working Arrangements
- Enhanced family friendly leave benefits
- Named to the Diversity Best Practices Index
- Signatory to the UK Women in Finance Charter
Learn more at axaxl.com/about-us/inclusion-and-diversity . AXA XL is an Equal Opportunity Employer.
Sustainability
At AXA XL, Sustainability is integral to our business strategy. In an ever-changing world, AXA XL protects what matters most for our clients and communities. We know that sustainability is at the root of a more resilient future. Our 2023-26 Sustainability strategy, called “Roots of resilience”, focuses on protecting natural ecosystems, addressing climate change, and embedding sustainable practices across our operations.
Our Pillars:
- Valuing nature: How we impact nature affects how nature impacts us. Resilient ecosystems – the foundation of a sustainable planet and society – are essential to our future. We’re committed to protecting and restoring nature – from mangrove forests to the bees in our backyard – by increasing biodiversity awareness and inspiring clients and colleagues to put nature at the heart of their plans.
- Addressing climate change: The effects of a changing climate are far reaching and significant. Unpredictable weather, increasing temperatures, and rising sea levels cause both social inequalities and environmental disruption. We’re building a net zero strategy, developing insurance products and services, and mobilizing to advance thought leadership and investment in societal-led solutions.
- Integrating ESG: All companies have a role to play in building a more resilient future. Incorporating ESG considerations into our internal processes and practices builds resilience from the roots of our business. We’re training our colleagues, engaging our external partners, and evolving our sustainability governance and reporting.
- AXA Hearts in Action : We have established volunteering and charitable giving programs to help colleagues support causes that matter most to them, known as AXA XL’s “Hearts in Action” programs. These include our Matching Gifts program, Volunteering Leave, and our annual volunteering day – the Global Day of Giving.
For more information, please see axaxl.com/sustainability
The U.S. pay range for this position is $115,500 – $227,500. Actual pay will be determined based upon the individual’s skills, experience, and location. We strive for market alignment and internal equity with our colleagues’ pay.
At AXA XL, we know how important physical, mental, and financial health are to our employees, which is why we are proud to offer benefits such as a competitive retirement savings plan, health and wellness programs, and many other benefits. Wealsobelieve in fostering our colleagues’ development and offer a wide range of learning opportunities for colleagues to hone their professional skills and to position themselves for the next step of their careers. For more details aboutAXA XL’s benefits offerings, please visit US-Benefits-at-a-Glance_2023_US.pdf (myaxaxlbenefits.com) .