P&C Compliance Analyst, Drafting and Research (remote)

Who We Are

Independent for over 75 years, Milliman delivers market-leading services and solutions to clients worldwide. Today, we are helping companies take on some of the world’s most critical and complex issues, including retirement funding and healthcare financing, risk management and regulatory compliance, data analytics and business transformation.

Milliman invests in skills training and career development, and gives all employees access to a variety of learning and mentoring opportunities. Our growing number of Milliman Employee Resource Groups (ERG’s) are employee-led communities that influence policy decisions, develop future leaders, and amplify the voices of their constituents. We encourage our employees to give back to their varied professions, including leadership in professional organizations. Please visit our web site to learn more about Milliman’s commitments to our people, diversity and inclusion, social impact and sustainability: https://careers.milliman.com/en/

Milliman’s Western Region Property and Casualty (P&C) Practice’s Orange County office focuses on developing innovative insurance products for traditional and start-up insurers and the associated state regulatory rate filing support. We also provide actuarial ratemaking and reserving consulting using a variety of actuarial techniques, including predictive modeling, telematics, by-peril rating, and catastrophe rating. We are looking for a Compliance Analyst with experience drafting P&C policy coverage forms to contribute to the development and revision of P&C insurance products.

What You Will Do

Milliman’s P&C Compliance Analyst is part of the team that develops P&C personal and commercial lines insurance products. The Compliance Analyst contributes to the team by performing regulatory and competitive research, drafting coverage forms, and preparing rate and rule manuals, guidelines, and regulatory filing support in collaboration with actuaries, regulatory bodies, and other team members.

Responsibilities in this role will include:

• Perform regulatory and competitive research and provide guidance to the product development team
• Interpret state laws and regulations
• Draft policy wording for new and revised policy forms and endorsements compliant with regulations
• Coordinate with actuaries to create and revise rate and rule manuals and underwriting guidelines
• Prepare support for regulatory form filings
• Consult with actuaries to ensure coverage options are consistent with rating algorithms
• Review filings to ensure regulatory compliance with state-specific regulations, bulletins, and guidance
• Provide solution-oriented guidance to resolve objections from state departments of insurance
• Draft response letters and make filing revisions in consultation with actuaries and clients
• Continue enhancement of skills through both formal and informal continuing education
• Complete compliance research projects and summarize results
• Assist with the development of compliance reference materials and facilitate internal training sessions
• Assist with other duties assigned at the direction of Compliance Consultant and/or Project Manager

What We Are Looking For

Professional Qualifications

• Bachelor’s degree or equivalent work experience in insurance compliance, claims, underwriting, or legal
• Three or more years of professional experience in P&C coverage forms drafting
• Highly experienced with Microsoft Office products: Word, Acrobat, Teams, Outlook

Personal Qualifications

• Strong sense of individual responsibility, while collaborating as part of a diversely skilled team
• Takes initiative to work independently without frequent supervisor involvement
• Excellent time management skills including collaboration across time zones
• Excellent oral and writing skills to communicate with clients, internal teams, and regulators
• Strong critical thinking skills, able to identify critical issues quickly and accurately
• Close attention to detail, especially when following an intricate process
• Driven to produce high quality work
• Ability to remain organized while working on multiple projects as priorities change in a fast-paced environment
• Excellent proofreading, written, and verbal communication skills, e.g. drafting and explaining legal language, detailed process, regulatory requirements, etc.
• Enthusiasm for producing high-quality, professional work with accuracy and integrity
• Inspired to contribute to the success of a project and succeed as a team

Preferred Qualifications

• Coursework or certification in general insurance, paralegal, ARC, or CPCU
• Experience with P&C rate, rule, and forms filings with state insurance departments
• Experience working with state regulators or other regulatory entities
• Experience working with P&C rating bureaus such as ISO and AAIS
• Experience with SERFF or other state regulatory filing systems
• Experience with state regulatory websites and compliance software such as Wolters Kluwer, Lexis Nexis, or Westlaw
• Notary license

Location

This is a remote position. Candidates hired into this role may work onsite in select Milliman office locations, if they prefer and as workspace is available.

Compensation

The remote salary range for this position is $66,000 - $157,000 depending on a combination of factors, including but not limited to education, relevant work experience, qualifications, skills, certifications, location, etc. If overall experience is less than three years, the range would be $66,000 - $129,000; for experience greater than three years, the range would be $78,000 - $157,000.  

Benefits
At Milliman, we focus on creating an environment that recognizes – and meets – the personal and professional needs of the individual and their family. We offer competitive benefits which include the following based on plan eligibility:

• Medical, dental and vision coverage for employees and their dependents, including domestic partners
• A 401(k) plan with matching program, and profit-sharing contribution
• Employee Assistance Program (EAP)
• A discretionary bonus program
• Paid Time Off (PTO) starts accruing on the first day of work and can be used for any reason; full-time employees will accrue 15 days of PTO per year, and employees working less than a full-time schedule will accrue PTO at a prorated amount based on hours worked
• Family building benefits, including adoption and fertility assistance and paid parental leave up to 12 weeks for employees who have worked for Milliman for at least 12 months and have worked at least 1,250 hours in the preceding 12-month period
• A minimum of 8 paid holidays
• Milliman covers 100% of the premiums for life insurance, AD&D, and both short-term and long-term disability coverage
• Flexible spending accounts allow employees to set aside pre-tax dollars to pay for dependent care, transportation, and applicable medical needs

Equal Opportunity

All qualified applicants will receive consideration for employment, without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

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The expected application deadline for this job is November 7, 2024.