Regulatory Liaison

Company



Munich Re Specialty - North America



Location



Richmond
, United States

Regulatory Liaison

We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.

The Company

Munich Re Specialty - North America provides extensive, specialty property and casualty insurance solutions to customers through select brokers, Managing General Agents, program administrators, cover holders and insurtech partners. Products include: property, casualty, professional liability and other specialty insurance solutions. Our comprehensive, customized solutions are provided by A+ rated carriers and are tailored to clients' needs. We offer superior service levels, industry-recognized underwriting and claims expertise and innovative approaches to complex and evolving risks.

Munich Re Specialty - North America is a description for the insurance business operations of affiliated companies in the Munich Re Group that share a common directive to offer and deliver specialty property and casualty insurance products and services in North America. For more information on Munich Re Specialty - North America, including licensing, regulatory-required, and other information on the operating companies, visit Munich Re Specialty - North America Disclosures

The Opportunity

Future focused and always one step ahead!

The Regulatory Liaison will manage and resolve complaints made by policyholders and claimants made to the US Department of Insurances, United Kingdom financial regulators (e.g. Financial Conduct Authority), the German regulator (BaFin) or directly to Coverholders/Third-Party Administrators/Munich Re Specialty - North America on behalf of Great Lakes Insurance SE, Lloyd's of London and American Alternative Insurance Corporation business. This role will work with the Senior Vice President of Underwriting Operations, Compliance department, Claims department, Underwriting departments, and Operations department, Munich Re Specialty NA - Binding Authorities.

and Analysts and directly engages in leading people and performing the work of the team, while supporting the underwriting of E&S policies.

The role will spend some time analyzing reports and workflows for proposing actions to improve productivity and decrease costs. It will also evaluate and decide upon the acceptability of policy applications for insurance

Responsibilities:

Major responsibilities include:

• Receive and document complaints from policyholders, claimants, clients, coverholders, third party administrators, Departments of Insurance, United Kingdon regulators and German regulator.
• Conduct thorough investigations to gather facts and evidence.
• Prepare and issue complaint response letter, including the enclosure of all pertinent supporting documentation outlining the company's position in response to a complaint.
• Refer any proposed complaint responses outside of MRS-NA's authority for carrier approval before being issued.
• Communicate with all parties involved to understand their perspectives.
• Analyze data to identify patterns or recurring theme from complaints issues.
• Prepare detailed reports outlining findings and recommendations to be reported to internal committees.
• Ensure compliance with organizational policies and regulatory requirements.
• Collaborate with Underwriting, Broking, Claims, RMCS, Operations and Coverholder Oversight departments to address and resolve complaints.
• Maintain a register of complaints and track their resolution status.
• Oversee the implementation of any follow-up actions required with the Coverholders, Third-Party Administrators or internally until conclusion.
• Conduct training and continuing education to all staff regarding all aspects of the Complaints handling process.
• Respond to inquiries about the status of complaints.
• Ensure confidentiality and sensitivity in handling complaints.
• Stay updated with industry standards and best practices in complaint investigations.
• Recommend policy or procedural changes based on investigation findings.
• Participate in developing and implementing complaint resolution frameworks.
• Conduct assigned Coverholder compliance audits and underwriting audits, remotely or on-site in a timely manner.
• Work with Coverholders to resolve audit recommendations in a timely manner.
• Oversee or participate in other projects and assignments as they arise.

Qualifications

• Bachelor's degree in business administration or related field required.
• 10+ years of audit, operational risk, and/or finance, and/or operations experience.
• Experience of US Complaints Handling management.
• Knowledge of the US Departments of Insurance regulation preferred.
• Knowledge of the US Property and Casualty business preferred.
• Strong analytical skills and exceptional diligence.
• Excellent verbal and written communication skills.
• Ability to think creatively and develop better solutions for existing processes.
• Ability to build and sustain internal and external business relationships.
• Ability to handle sensitive information with discretion.
• Ability to manage multiple cases simultaneously.
• Proven record of successfully responding to and resolving complaints.
• Demonstrated ability to meet target dates.
• Skilled with Microsoft Office including Access, Excel, and Word.
• Ability to conduct Compliance and or Underwriting audits.
• Ability to travel 25%.
• Initiative-taking and effective at time management and prioritization.

At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

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