Risk & 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 adjusters 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 Risk and Compliance Analyst at Reserv will play a critical role in ensuring our company's adherence to regulatory requirements, industry best practices, and ethical standards.  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. You're excited by the prospect of building a tech-driven claims org.

• Passionate Risk & Compliance professional who cares about the customer and their experience.

• Empathetic. 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 to reimagine the R&C process.

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

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

• Communicative. (we'd love to know what this means to you)

• 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:

• Facilitate risk and control documentation efforts

• Facilitate control development

• Execute control testing

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

• Help support corporate and adjuster licensing 

• Facilitate responses to regulatory inquiries and coordinate response efforts to audits (carrier or regulator initiated) 

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

• Ensure compliance guidance is aligned to regulatory requirements and updated as changes occur in the environment

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

• Collaborate with technology teams to develop and implement automated solutions that enhance the compliance infrastructure

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

• Monitor the existing 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

• Manage complaints and maintain compliance with internal complaint procedures 

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 risk or compliance role within the insurance industry

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

• 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

Benefits

• Generous health-insurance package with nationwide coverage, vision, & dental

• 401(k) retirement plan with employer matching

• Competitive PTO policy – we want our employees fresh, healthy, happy, and energized!

• Generous family leave policy

• 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!

Additionally, we will

• Listen to your feedback to enhance and improve upon the long-standing challenges of an adjuster and the claims role

• Work toward reducing and eliminating all the administrative work from your role

• Foster a culture of empathy, transparency, and empowerment in a remote-first environment

At Reserv, we value diversity in backgrounds, perspectives, and life experiences and believe that diversity in viewpoints and critical thinking drives innovation, first-principles thinking, and success. We welcome applicants from all backgrounds and encourage those from all walks of life to apply. If you believe you are a good fit for this role, we would love to hear from you!