Regulatory Counsel

General

Job description

Job Title:                     Regulatory Counsel

Division:                      Compliance

Reports To:                 Senior Regulatory Counsel, Head of Regulatory, Product & Filings

Key Relationships:     Internal:  Global Compliance team, Underwriting, Actuarial, Wordings, Risk Management, Operations, Finance.

External:  State insurance department regulators as necessary.

Job Summary:            The Regulatory Counsel is responsible for providing legal and regulatory support across Beazley's North American insurance operations. The role advises on insurance regulatory requirements affecting products, policy forms, rates, underwriting practices, and business operations. Working closely with colleagues across Compliance, Underwriting, Product Development, and Operations, the Regulatory Counsel conducts legal and regulatory analysis, supports product filing activities, monitors regulatory developments, and assists in ensuring compliance with applicable federal and state insurance laws and regulations.

FLSA:                           Exempt

Key Responsibilities:

Regulatory Affairs & Compliance

• Research, analyze, and communicate federal and state insurance regulatory requirements relevant to insurance products, rates, forms, underwriting practices, and business operations.
• Monitor legislative, regulatory, and industry developments affecting Beazley's business and communicate relevant changes, risks, and impacts to stakeholders.
• Conduct legal and regulatory research and provide written and verbal legal analyses, opinions, and recommendations.
• Provide practical legal and regulatory guidance to internal business partners regarding applicable insurance laws, regulations, and regulatory expectations.
• Review and advise on underwriting guidelines, procedures, operational practices, and business initiatives to promote regulatory compliance.
• Assist in drafting, reviewing, and updating policies, procedures, bulletins, and governance documents within Compliance's remit.
• Identify emerging regulatory risks and escalate significant issues to management as appropriate.
• Support market conduct examinations, regulatory inquiries, data calls, investigations, and other regulatory reviews.
• Investigate and respond to consumer and insurance department complaints
• Review and approve marketing materials for compliance with applicable regulatory requirements.

Product & Filings

• Draft, review, and revise policy forms, endorsements, applications, declarations pages, and other insurance-related documents to ensure compliance with regulatory requirements.
• Research state filing requirements and support the preparation, submission, and maintenance of regulatory filings.
• Analyze and draft responses to objections, questions, criticisms, and requests from insurance regulators.
• Support product development initiatives by assessing regulatory implications and recommending compliant solutions.
• Coordinate with internal stakeholders and external filing resources to facilitate timely product approvals and implementation.
• Ensure regulatory approvals and filing requirements are accurately communicated to affected business areas.
• Maintain awareness of filing activity and approval status to support business implementation and operational readiness.

Regulatory Engagement & Stakeholder Support

• Assist with communications and interactions with state insurance regulators and other regulatory authorities, as necessary.
• Support responses to regulatory examinations, inquiries, and enforcement-related matters.
• Build effective working relationships across Compliance, Underwriting, Actuarial, Operations, and other business functions.
• Develop and deliver training and educational materials on regulatory and compliance topics.
• Contribute to departmental initiatives designed to improve regulatory processes, controls, efficiencies, and stakeholder awareness.
• Engage effectively with technology and systems utilized within the Regulatory and Products & Filings functions.

General:

At Beazley we are committed to doing the right thing because it is the right thing to do.  It is important that within all your interactions both internally and externally you adhere to this principle through adoption of Beazley’s core values and behaviours – PIED and Being Beazley.  

• Adopt the Beazley culture of Professionalism, Integrity, Effectiveness and Dynamic that contributes to an internal environment of teamwork and promote a positive brand image and experience to our external customers.
• Comply with Beazley procedures, policies and regulations including the code of conduct.  Undertake training on Beazley policies and procedures as delivered by your line manager, the Talent Management development or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.
• Display business ethics that uphold the interests of all our customers.
• Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
• Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Talent Management or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas.  This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management.

• Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system.  These may include membership of any Beazley committees or working groups.

Personal Specifications:

Education and Qualifications

• Juris Doctor (JD) degree.
• Member in good standing of at least one state bar association.
• 2-4 years of legal, regulatory, compliance, or insurance industry experience, preferably within the property and casualty insurance sector.

Skills and Abilities

• Strong legal research skills, with a focus on insurance regulatory research
• Ability to determine, understand and analyze legal/regulatory requirements and their impact on insurance contracts and business practices and plans, develop solutions
• Attention to detail, strong organizational skills and ability to work on multiple tasks
• Ability to interact and work collaboratively and constructively with various people at various levels within and outside the organization
• Ability to appreciate the importance of, track, and meet deadlines
• Professional, responsible and responsive approach to role and functions 
• Proficiency in Microsoft Office applications.

Knowledge and Experience

• Experience in commercial lines property and casualty insurer preferable
• Understanding of the need for accurate and timely management information
• Knowledge and understanding of all forms of reinsurance advantageous

Aptitude and Disposition

• Task focused, self-motivated and flexible.
• Able to successfully interact with colleagues and external stakeholders.
• Positive, enthusiastic, and service oriented

Competencies

• Achievement drive
• Customer focus
• Team working
• Strong written and verbal communication
• Attention to detail
• Judgment and problem solving
• Organization and time management
• Relationship building
• Adaptability and Learning Agility
• Professionalism and Integrity

The Rewards

• The opportunity to connect and build long-lasting professional relationships while advancing your career with a growing, dynamic organization
• Attractive base compensation and discretionary performance related bonus
• Competitively priced medical, dental and vision insurance
• Company paid life, and short- and long-term disability insurance
• 401(k) plan with 5% company match and immediate vesting
• 22 days PTO (prorated for 1st calendar year of employment), 11 paid holidays per year, with the ability to flex the religious bank holidays to suit your religious beliefs
• Up to $700 reimbursement for home office setup
• Free in-office lunch, travel reimbursement for travel to office, and monthly lifestyle allowance
• Up to 26 weeks of fully paid parental leave
• Up to 2.5 days paid annually for volunteering at a charity of your choice
• Flexible working policy, trusting our employees to do what works best for them and their teams
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Salary for this role will be tailored to the successful individual’s location and experience. The expected compensation range for this position is to circa $155,000per year plus discretionary annual bonus.

Don’t meet all the requirements? At Beazley we're committed to building a diverse, inclusive, and authentic workplace. If you’re excited about this role but your experience doesn’t perfectly align with every requirement and qualification in the job specification, we encourage you to apply anyway. You might just be the right candidate for this, or one of our other roles.