Regulatory Manager

*Onsite in Chicago, IL

The Regulatory Manager’s primary responsibility is to ensure Asurion maintains ongoing legal and regulatory compliance with respect to insurance, service contract, and ancillary products/services in all jurisdictions where Asurion conducts business. The Regulatory Manager will assist leadership in directing and enforcing compliance requirements.  This role will be expected to independently research, analyze, and interpret regulatory requirements, coordinate product development, and ensure compliance in product design, business practices, and processes.

The Regulatory Manager will also work directly with attorneys and other industry professionals in providing guidance to support redesigns or program launches with Asurion clients. These responsibilities may include; collaborating with Asurion’s inside and outside counsel, risk managers, underwriters, actuaries, and licensing staff to support development and implementation of products and programs in compliance with applicable law. The Regulatory Manager should have experience with legal/compliance analysis and is comfortable spotting issues within complex documents. This position will oversee and support the assistance and development of the rate and form filings and the filing process. This position should also have experience with insurance and service contract rate and form filing development and management. 

The Regulatory Manager frequently interacts with, and serves as the primary contact for, the state Departments of Insurance (DOI) and other regulatory authorities to obtain state approvals as required and resolve compliance issues. The Regulatory Manager develops, implements, and oversees compliance requirements, policies, and practices, while also being expected to proactively identify and implement areas where processes can be improved. This position autonomously investigates and responds to compliance problems and questions from counsel, clients, and external groups such as insurance companies, regulators, Attorney General offices, and state DOI representatives.

The Regulatory Manager stays current with industry standards and competitor activity, which requires legal analysis and continued individual research to understand any effects to Asurion programs.  This position may represent Asurion’s interests through membership in industry trade associations, and is able to understand legislative changes and how to implement change with all stakeholders in the evolving space(s) that Asurion operated. They may be involved with legal action concerning compliance with current regulations.

Key Responsibilities:

• Own all service contract and insurance form development as well as the end-to-end filing process.
• Understand programs and clients to anticipate needs for future forms and/or amendments to existing filed forms.
• Serve as the liaison between the company and state authorities to independently resolve complex state inquiries and audits.
• Analyze and stay current with state and federal laws and regulations for insurance, service contract, and other relevant products and provide guidance to attorneys.
• Serve as a liaison and information source to leaders and internal/external stakeholders, including coordinating compliance policies and communications with counsel and other departments, particularly program management, licensing, underwriting, and actuarial support.
• Lead process for development and implementation of insurance policies to include maintenance and revisions of any required amendments/endorsements.
• Conduct legal research and/or coordinate legal research with inside resources or outside counsel.
• Establish strong collaborative relationships with attorneys, underwriting, and other groups with the Legal and Underwriting function and participate in operational understanding and implications of initiatives by proactively learning about program areas and clients.
• Have functional understanding of company’s risk profile and the impact of product decisions on company’s business operations.  Independently identify risks and issues, proposing solutions and actively engaging stakeholders as necessary.

Job Requirements:

Highly successful professional with at least five years of demonstrated progressive responsibility.
 

• Four (4) year college degree highly preferred.
• Seven (7) plus years of previous regulatory compliance experience preferred; preference to those with direct experience with rate and form filings..
• Legal research and analysis training or experience preferred.
• Must possess aptitude and motivation for staying current with regulatory changes in insurance, service warranty, and consumer protection regulation.
• Must demonstrate sound judgment and ability to strategize and plan initiatives that enhance the company’s ability to deliver insurance, service warranty and similar products to meet client needs while complying with regulatory requirements.
• Must have professional interpersonal, organizational, and communication skills.
• Ability to understand detailed documents and effectively communicate information to others.
• Must be highly proficient with Microsoft Office Suite, Westlaw, and AI tools; experience with SERFF preferred.   

JOB RESPONSIBILITIES

• Independently manage end-to-end process of form development for both service contracts and insurance policies to include: stakeholder input and creation, filing, supervision of regulatory communications, and implementation of form for program use.
• Serve as primary contact for regulatory authorities in resolving complex state inquiries and audits.
• Conduct ongoing evaluation of current forms and in-market terms to ensure compliance and proactively offer changes or improvements to leadership for future form development.
• Develop and maintain strong relationships with internal company functions such as: underwriting, internal and external attorneys, program management, and others to support the creation and continued evaluation of forms and filings.
• Independently manage full responsibility of client policies with insurer which includes creation of the policy, and all amendments and endorsement for maintenance of program changes.
• Proactively monitor the industry to understand changes within competitive landscape to analyze, provide recommendations, and keep leadership abreast of industry evolution.
• Oversee communications and partnership with insurer, serving as liaison to the insurer on all questions, filings, etc.
• Demonstrate sound judgment and ability to strategize and plan initiatives that enhance the company’s ability to deliver insurance, service warranty and similar products to meet client needs while complying with regulatory requirements.
• Independently evaluate internal processes for improvement and implement increased usage of AI tools within daily responsibilities.
• Research and stay updated on Federal, State, and Local laws and provide regular summaries and analyses to support internal implementation.