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The Compliance & Reporting Analyst will assist as needed with policy and unit statistical reporting requirements, agency management requests, contract support, and additional related responsibilities to ensure compliance of state and regulatory requirements.
This role is located in Highpoint, North Carolina.
Key Functions include but not limited to:
Policy Data Reporting Processes:
Within a certain period after the issuance of a policy, carrier is required to report certain proof of coverage and other policy-related information to the applicable state insurance departments and/or rate bureaus:
- Prepare and inspect weekly files for submission to the various reporting bureaus.
- Address pre-submission technical errors & post-submission errors.
- Review and respond to post-submission Bureau notices of individual policy-related issues.
- Review incoming notices, and research issues.
- Work with appropriate department to resolve issue (Underwriting, IT, etc.) and facilitate corrections.
- Communicate with Bureaus to resolve issue
- Company Certifications to submit data:
- Review bureau file data layout & requirements, and communicate requirements to IT departments
- Assist IT department in the creation of test files for submission to the bureau
- Review errors and work with IT to correct such errors.
Unit Statistical Data Reporting Processes:
Carrier is required to report certain policy and claims related information on an annual basis to the applicable state insurance departments and/or rate bureaus:
- Back-up team in preparing and inspect monthly files for submission to the various reporting bureaus
- Address pre-submission and post-submission technical errors
Participate in special Projects:
- Analysis of reporting errors to identify potential improvements.
- Assist with various data reporting requirements and filing various data reports with state insurance departments and rating bureaus.
- Data filing Process improvements
Key Functions will include but not limited to:
Premium Audit
- Timely complete premium audits for assigned accounts and transmit for processing.
- Follow all NCCI, State Bureau and Company guidelines in the completion of audits.
- Notify internal teams (underwriter, risk manager, Area Vice President, etc) of concerns with assigned accounts.
- Support Key Risk’s hybrid audit approach, while using best judgement in determining. whether to travel for an audit.
- Research, respond to and revise (when appropriate) disputed audits.
Client Support
- Respond to underwriter, insured and agency partner requests regarding premium audits
- Perform classification research for underwriters, insureds and agency partners for assigned accounts.
- Per Company guidelines, provide copies of audit billing and worksheets, ensuring confidentiality of shared audit data.
- Daily telephone and email communication with agency partners, insureds and internal team members.
Department Support
- Advise Premium Audit Manager of trends identified in audits.
- Participate in software testing, including current and future audit platforms, policy systems, claims systems and related business intelligence software.