This site uses cookies. To find out more, see our Cookies Policy

Personal Lines Compliance Associate in Whitehouse Station, NJ at Chubb Group of Insurance Companies

Date Posted: 10/8/2018

Job Snapshot

Job Description

Personal Lines Compliance Associate

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.

 

KEY OBJECTIVE:                   

                                                                                                                                                                           

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 NA Compliance Assurance team within the Office of General Counsel (OGC) by enforcing the established Personal Lines (PL) compliance standards to monitor, detect and prevent compliance deficiencies.  The individual selected for this position will report directly to Personal Lines Compliance Officer to promote initiatives to implement policies, procedures, and other controls to mitigate business compliance risks. 

The PL Compliance Associate’s primary responsibility will be to work in close cooperation with the PL Compliance Officer to support the PL business unit Business Compliance Plan objectives.  This role will interact with other OGC business units and therefore needs strong interpersonal and diplomacy skills.   More importantly, the ideal candidate will need to be flexible and adaptable to an evolving compliance function. 

In addition to the PL responsibilities, this role will support the North America (NA) Monitoring and Testing functions, and the Sanctions Compliance functions within the Office of General Counsel (OGC).  This individual will partner with NA Claims, Underwriting, Accounts Payable, Accounts Receivable, Compliance Operations, Compliance Assurance, Business Compliance Officers, and other members of OGC to properly monitor, detect, and mitigate potential sanctions deficiencies. 


 

MAJOR DUTIES & RESPONSIBILITIES:                                                      


    • Effectively participate in the Personal Lines 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.
    • Execute the NA Compliance Assurance monitoring strategy by planning and participating in the following types of risk based reviews: (i) Compliance Assurance Reviews to monitor and test highly critical compliance and regulatory risk controls, (ii) remedial compliance reviews, and (iii) targeted compliance reviews.
    • Identify and communicate findings and recommendations to management, determine root causes, obtain management’s action plan for remediation in a timely manner and track findings through to resolution. 
    • 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 follow-up and project management skills. Ability to multi task and respond to deadlines, and take personal accountability.
    • 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;  
    • Ensure compliance with OFAC and related laws;
    • Execute daily screening and clearance of claims, policies and vessel files through Compliance Link (Level 2 Screening); making daily decisions on which transactions should be suspended, passed or escalated to NA Compliance supervisor for possible sanctions violation;
    • Perform research on individuals/ companies/ organizations involved in transactions and carry out one off sanctions screening, where appropriate;


MINIMUM REQUIREMENTS:


    • 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;
    • 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;


•      Knowledge of PL Chubb 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 http://www.new.chubb.com.


 

 

Job Requisition #TBD

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.