Federated Mutual Insurance Company

Compliance Analyst

Job Locations US-MN-Owatonna
Job ID 2024-4750

Who is Federated Insurance?

At Federated Insurance, we do life-changing work, focused on our clients’ success. For our employees, we provide tremendous opportunities for growth. Over 95% of them believe our company has an outstanding future. We make lives better, and we’re looking for employees who want to make a difference in others’ lives, all while enhancing their own.

 

Federated’s culture is grounded in our Four Cornerstones: Equity, Integrity, Teamwork, and Respect.  We strive to create a work environment that embodies our values and commitment to diversity and inclusion.  We value and respect individual differences, and we leverage those differences to achieve better results and outcomes for our clients, employees, and communities.  Our top priority in recruitment and development of our next generation is to ensure we align ourselves with truly exceptional people who share these values.

What Will You Do?

As a Compliance Analyst, you’ll play a crucial role in analyzing state laws and insurance department regulations to identify policy and administrative changes required. You will also develop and manage policy and certificate forms and coordinate state insurance department filings.

 

Responsibilities:

  • Research, analyze, and interpret new or revised policies, procedures, laws, rules, and regulations. Communicate analysis and recommendations/decisions to those impacted, facilitate implementation, and provides technical support.
  • Monitor the state regulatory authorities and industry trade groups discussion on issues.
  • Develop communication for business areas regarding laws passed and regulations implemented.
  • Serve as a resource to business areas in interactions and negotiations with state insurance regulatory contacts on compliance matters. This includes filing reports with state regulators.
  • Participate in the development, writing and filing of new coverage forms.
  • Coordinate the filing of policy forms, applications, and rates with state insurance departments.
  • Maintain knowledge of industry and economic changes.
  • Prepare drafts and submit responses to data calls or inquiries from state departments of insurance.
  • Administer the collection of compliance certifications from employees to meet regulatory requirements.

Minimum Qualifications:

  • Bachelor’s degree or equivalent insurance business experience or Paralegal training or certification.
  • Minimum of 3 years' work experience in insurance, compliance or regulatory work.
  • Proficient with Microsoft Office Suite or related software.
  • An unquestioned ability to retain confidential business and/or personnel information.
  • Strong ability to analyze, read carefully, and think critically.

What We Offer

We offer a wide variety of ways to support you as a whole, both professionally and personally. Our commitment to your growth includes opportunities for internal mobility and career development paths, inspiring excellence in performance and ensuring your professional journey thrives. Additionally, we offer exceptional benefits to nurture your personal life. We understand the importance of health and financial security, offering encompassing competitive compensation, enticing bonus programs, cost-effective health insurance, and robust pension and 401(k) offerings. To encourage community engagement, we provide paid volunteer time and offer opportunities for gift matching. Discover more about Federated and our comprehensive benefits package: Federated Benefits You

Employment Practices

All candidates must be legally authorized to work in the United States for any employer. Federated will not sponsor candidates for employment visa status, such as an H1-B visa. Federated does not interview or hire students or recent graduates with J-1 or F-1 visas or similar temporary work authorization.

 

If California Resident, please review Federated's enhanced Privacy Policy.

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