Product Development Specialist - Regulatory

About the Opportunity

This Product Development Specialist role will support underwriting business units through effective project management, maintenance and development of new and innovative insurance products and services. The role will foster continuing development of knowledge of product lines, regulatory developments and coverage innovations. The Product Development Specialist will work closely with the Product Development team, and other stakeholders in Corporate Underwriting and functional Business Units. This role will foster continuing development of knowledge of product lines and other functions.

Responsibilities

• Create and maintain speed to market guidance in regulatory compliance and drive filing strategy for proprietary P&C and Specialty Products.
• Draft all regulatory notices and change endorsements, and state-specific endorsements to comply with regulatory requirements in connection with form filings.
• Primary contact for Product Development for all regulatory inquiries relating to filings, and application of regulatory issues on surplus lines business.
• Regularly review regulatory and bureau (ISO, NCCI and AAIS) changes and insurance department actions to determine applicability to the Company's products.
• Research emerging issues related to our products and operations and make recommendations to management and updates, where needed.
• Continue development of depth of knowledge of specific product lines and regulatory developments, including coverage innovations.
• Provide ad hoc drafting support to Product Development team on P&C and Specialty products, as needed.

Qualifications

• Bachelor's Degree required, Juris Doctor Degree or CPCU a plus
• 6-10 years product and/or insurance regulatory experience
• Extensive knowledge of product development and form/rate filings processes for P&C and Specialty Products based on relevant insurance experience in product development in Standard, Specialty, Primary and Excess lines of business including sophisticated underwriting applications and techniques.
• Experience with bureau (ISO, NCCI and AAIS) and insurance regulatory web resources.
• Proven ability to develop and foster relationships with key external and internal stakeholders
• Superior interpersonal, presentation, oral and written communication skills
• Excellent research, detail orientation, creative problem solving and project management skills
• Proficiency in enhancing existing processes and feedback loops

Benefits

• Two options for your health insurance plan (PPO or High Deductible)
• Prescription drug coverage (included in your health insurance plan)
• Vision and dental insurance plans
• Additional insurance coverages provided at no cost to you, such as basic life insurance equal to 1x annual salary and AD&D coverage that is equal to 1x annual salary
• Short and Long Term Disability coverage
• Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes Spouse/domestic partner and children)
• Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity)
• A robust 401k plan with up to a 5% employer match
• A retirement savings plan that is 100% company funded
• Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries
• Eligibility to receive a yearly bonus as a Munich Re employee
• A variety of health and wellness programs provided at no cost
• Paid time off for eligible family care needs
• Tuition assistance and educational achievement bonuses
• A corporate matching gifts program that further enhances your charitable donation
• Paid time off to volunteer in your community

Pay

The base salary range anticipated for this position is $101,700 - $169,500, plus opportunity for company bonus based upon a percentage of eligible pay. The salary range reflects market variations across locations, with the higher end being more aligned with the New York City job market. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.