Compliance Officer, ANV
US-NJ-Morristown
careers
Req #: 18624
Type: Regular Full-Time
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Overview: ANV Global Services underwrites as a Global MGU with centers in Europe, and the USA. From our offices in Barcelona, London and Morristown, NJ, we provide underwriting expertise for some of the strongest and highest rated and financial partners in the market. The Compliance Team at ANV works closely with insures, brokers and underwriters to ensure that the company adheres to various regulatory and contractual obligations. We are currently looking for a Compliance Officer to join our Team in Morristown, New Jersey. The Compliance Officer will oversee and ensure compliance with state regulations, company policies, and agreements with capacity providers for a Managing General Agent specializing in financial lines, transaction risk, and cyber insurance. This role is pivotal in safeguarding the MGA's reputation and maintaining operational integrity by ensuring that all activities adhere to legal and regulatory requirements. You will work directly with the Insurers and Brokers across US and European Market. You will proactively assist the Compliance Manager located in the Barcelona office with policy development, audits, trainings, investigations and with Regulatory bodies in the US and Europe. Responsibilities: 1. Regulatory Compliance: * Monitor and interpret state regulations applicable to insurance and MGAs, ensuring the company's operations remain compliant. * Prepare and submit necessary regulatory filings and reports to state insurance departments. 2. Policy Development and Implementation: * Develop, review, and implement compliance policies and procedures that reflect regulatory requirements and industry best practices. * Conduct regular audits of existing policies to ensure continued compliance and effectiveness. 3. Risk Assessment: * Assess and monitor compliance risks associated with product offerings in financial lines, transaction risk, and cyber insurance. * Propose risk mitigation strategies and action plans based on assessment findings. 4. Training and Awareness: * Develop and deliver training programs for employees on compliance-related topics, promoting awareness of compliance responsibilities and ethical conduct. * Serve as a point of contact for compliance questions and guidance within the organization. 5. Capacity Provider Agreements: * Conduct thorough reviews of contracts and agreements with capacity providers, particularly Lloyd's, to ensure adherence to regulatory standards and internal policies. * Maintain organized records of all compliance-related documentation, including agreements and correspondence with providers * Ensure compliance with binder parameters via proactive and reactive monitoring of underwriting and claims handling 6. Collaboration and Reporting: * Collaborate with internal departments (e.g., underwriting, claims, and finance) to ensure compliance considerations are integrated into daily operations. * Prepare and present compliance reports to senior management and the board of directors, highlighting key compliance issues and initiatives. 7. Investigation and Resolution: * Conduct investigations into compliance breaches or concerns, documenting findings and recommending corrective actions. * Liaise with regulatory bodies in the event of inquiries or audits. * Promote the growth and strong reputation of ANV Global Services / AmTrust Group. * Assist Operations Manager with additional ad hoc projects to help achieve overall operation efficiencies with the Claims and Underwriting Teams. #AmTrust Qualifications: Qualifications: * Bachelor's degree in Risk Management, Business Administration, Finance, Law, or a related field. * 5+ years of experience in compliance, legal, or regulatory roles within the insurance industry, particularly in financial lines, transaction risk, and cyber insurance. * In-depth knowledge of relevant regulations, including state insurance laws and data privacy regulations. * Strong analytical skills with the ability to interpret complex regulations and communicate them effectively. * Excellent organizational skills, attention to detail, and the ability to manage multiple tasks and priorities. * Strong communication and interpersonal skills, with the capability to work collaboratively across departments and with external parties. Working Conditions: * Primarily office-based with occasional travel as required. * The role may involve working under tight deadlines, requiring strong time management skills. This job description is designed to provide a general overview of the requirements of the job and does not entail a comprehensive listing of all activities, duties, or responsibilities that will be required in this position. AmTrust has the right to revise this job description at any time.
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