Lead Compliance Analyst

Description

About Reserv

Reserv is an insurtech creating and incubating cutting-edge AI and automation technology to bring efficiency and simplicity to claims. Founded by insurtech veterans with deep experience in SaaS and digital claims, Reserv is venture-backed by Bain Capital and Altai Ventures and began operations in May 2022. We are focused on automating highly manual tasks to tackle long-standing problems in claims and set a new standard for TPAs, insurance technology providers, and adjusters alike.

We have ambitious (but attainable!) goals and need people who can work in an evolving environment. If building a leading TPA and the prospect of tackling the long-standing challenges of the claims role sounds exciting, we can’t wait to meet you. 

About the role

The Lead Compliance Analyst – UK Claims at Reserv will play a critical role in ensuring our company's

adherence to regulatory requirements, industry best practices, and ethical standards in the UK. They will be responsible for developing and implementing comprehensive compliance programs and initiatives to mitigate risks and safeguard our operations. The ideal candidate has a familiarity with TPAs. 

Who you are

• Highly motivated and growth-oriented.

• Subject matter expert. You have deep technical and subject matter experience in the world of claims compliance.

• Tech-oriented. You are excited by the prospect of building a tech-driven claims organization while delivering an excellent service and have proven results leveraging technology and analytics.

• Passionate claims compliance professional who cares about their team, the customer and their experience.

• Empathetic leader. You exercise empathy and patience towards everyone you interact with.

• Sense of urgency - at all times. That does not mean working at all hours.

• Creative. You challenge existing assumptions and find ways of leveraging technology and the talents of your team to address problems.

• Curious. You want to know the whole story so you can make the right decisions early and be decisive when it counts.

• Problem solver. You have the ability to take a ‘deep dive’ into the details of the business while staying focused on the big picture.

• Anti-status quo. You don’t just wish things were done differently, you action on it.

• Communicative. You are comfortable with and understand the importance of phone communications throughout the claims process.

• And did we mention, a sense of humor. Claims are hard enough as it is.

What we need

We need you to do all the things typical to the role:

• Maintain robust claims and corporate compliance programs that a UK TPA needs including but not limited to: anti-bribery & corruption, conflicts of interest, data privacy, third party program management, sanctions, and anti-competition

• Maintain corporate insurance licenses; respond to regulatory inquiries and coordinate response efforts to audits (carrier or regulator initiated)

• Support continuing education credits and renewals

• Stay abreast of industry-wide compliance initiatives, regulations, and regulatory developments, and analyze their impact on the insurance industry and our operations

• Draft, review, and update policies, procedures, and training materials to enhance program efficiency, promote employee understanding, and mitigate compliance-related risks

• Act as the primary point of contact for UK employees and management regarding compliance inquiries and provide guidance on compliance matters

• Assist in conducting reviews of compliance policies and procedures to ensure their effectiveness and relevance

• Collaborate with technology teams, including the creation of specification documents, to develop and implement automated solutions that enhance the compliance infrastructure

• Align and strengthen controls for UK Claims, implementing best practices to ensure consistency and deliver maximum value to the business

• Monitor the existing UK Claims operational control structure and make necessary changes to controls based on feedback from self-audits, internal audits, and external audits

• Represent Claims in enterprise forums and projects, fostering global operating excellence and promoting enhanced internal collaboration

• Handle UK complaints and maintain compliance with internal complaint procedures 

• Act as the UK Data Protection officer and ensure best practice around data protection

Requirements

• Bachelor's degree (lack of one should not stop you from applying if you possess all the other qualifications)

• 5 years proven experience in a compliance role within the insurance industry

• Strong knowledge of UK insurance claims regulations, compliance frameworks, and industry best practices

• Prior experience with the Consumer Duty Act

• Demonstrated ability to collaborate on and implement compliance programs and initiatives across multiple areas of compliance

• Excellent analytical and problem-solving skills with the ability to analyze regulatory changes and their impact on the business

• Strong drafting and policy-writing skills, with the ability to create clear, concise, and comprehensive policies, procedures, and training materials

• Experience working collaboratively with cross-functional teams and technology departments to develop and implement automated compliance solutions

• Exceptional communication and interpersonal skills with the ability to effectively communicate complex compliance matters to employees at all levels of the organization

• Detail-oriented with strong organizational skills and the ability to prioritize and manage multiple tasks and deadlines

• Professional certifications such as Certified Compliance and Ethics Professional (CCEP) or Certified Regulatory Compliance Manager (CRCM) are a plus

• Experience in the insurance industry preferred

Benefits

• Generous health insurance package with nationwide coverage

• Pension plan with employer contributions

• Competitive holiday/leave policy in addition to bank holidays – we want our employees fresh, healthy, happy, and energized!

• Industry Qualifications paid by us (after a qualifying period)

• Work from anywhere to facilitate your work life balance

• Apple laptop, large second monitor, and other quality-of-life equipment you may want. Technology is something that should make your life easier, not harder!

At Reserv, we value diversity and believe that a variety of perspectives leads to innovation and success. We are actively seeking candidates who will bring unique perspectives and experiences to our team. We welcome applicants from all backgrounds and encourage those from underrepresented groups to apply. If you believe you are a good fit for this role, we would love to hear from you!