Job Title: Regulatory Operations, Analyst Associate
Location: Markham, ON
Model: Hybrid (3 Days Onsite (Mon/ Tues/ Wed))
Job Type: Full time
We are looking for a Regulatory Operations, Analyst Associate. A key aspect of this role is understanding Insurance Regulatory reporting requirements. This role is part of the Regulatory
Operations and Downstream Reporting department within Finance Systems.
What you’ll do:
Underwriting Rate Changes:
- Work with Personal Insurance Applications and Rating teams to attend and identify potential impacts to regulatory data elements for both GISA, Facility Association, and GAA as well as internal reporting.
Regulatory Changes:
- Mandated Rating Changes (i.e., changes to DCPD)
o Ensure that any statistical data changes and the associated testing to GISA portal, Facility Association portal, and GAA sites via premium and claims files.
- Mandated Data Changes (sample Class definitions, Ride Share/Hail for commercial, 03 Occ Business)
o Coordinate statistical data changes and manage testing of change to GISA portal, Facility Association portal, and GAA sites via premium and claims files.
Insurance Regulatory Reporting:
- Statutory Filings: Assist in submission of various statutory reports as required by regulatory authorities.
- Ensure reports are accurate and submitted on time, and monitor compliance with regulatory requirements.
- Data Analysis: Utilize client data repositories to analyze and report on the performance and accuracy of Regulatory Submissions, identifying any anomalies or risks.
- Provide subject expertise to impacted areas, coordinate and ensure alignment of solution through policy and claim reporting.
- Coordinate timing and requirements, connect IT with appropriate technical contacts at GISA, Facility Association, and GAA if necessary.
- Ensure the implementation of technical connections and regulatory data submissions are not impacted, therefore avoiding customer impact or government non-compliance issues.
What you’ll bring:
- Analytical Skills: Ability to analyze complex data and regulatory requirements.
- Attention to Detail: Ensuring accuracy in regulatory submissions and data analysis.
- Communication Skills: Strong verbal and written communication to collaborate with stakeholders and technology partners.
- Technical Proficiency: Familiarity with data analysis tools and software, such as Excel, SQL, or other data management systems.
- Project Management: Ability to manage multiple tasks and projects, ensuring timely completion.
- Problem-Solving: Identifying issues and developing effective solutions.
- Regulatory Knowledge: Understanding of insurance regulatory reporting requirements and compliance standards.
- Collaboration: Working effectively with cross-functional teams and external partners.
- Education: Bachelor’s degree in finance, Business Administration, Information Technology, or related industry experience.
- Experience: Previous experience in regulatory reporting, business analysis, or a related field within the insurance industry.
- Certifications: Relevant certifications such as Certified Business Analysis Professional (CBAP) or Project Management Professional (PMP) can be advantageous.
- Industry Knowledge: Familiarity with insurance industry regulations and standards, particularly in relation to GISA, Facility Association, and GAA.
