Canopius Group · 2 months ago
US Compliance Officer
Chicago, IL
Full-time
Hybrid
Mid Level
$85K/yr - $110K/yr
3+ years expCanopius Group is a global specialty lines (re)insurer and is seeking a US Compliance Officer to ensure a robust compliance framework within the organization. The role involves delivering compliance initiatives, conducting risk assessments, and collaborating with various teams to minimize risk in the P&C insurance sector.
Insurance
Responsibilities
Monitor and implement regulatory changes, including NAIC requirements, and state specific updates applicable to the business
Review and adjust group and local policies to ensure compliance; collaborate with Group Compliance Officer for amendments
Respond to regulatory requests from internal and external regulators
Work closely with legal counsel to monitor legal framework updates
Oversee the process of receiving, investigating, and resolving consumer complaints, ensuring all concerns are addressed promptly and in accordance with regulatory requirements and internal policies
Work with external vendors to manage insurance license renewals and filings, ensuring all licenses remain current and compliant with regulatory requirements
Coordinate the preparation and submission of required regulatory filings, ensuring accuracy and timely delivery in accordance with applicable laws and regulations
Oversee the collection, validation, and reporting of data to regulatory bodies, maintaining robust records and supporting the organization's transparency and accountability
Oversee the governance of underwriting teams and actively monitor internal thresholds and metrics to assess ongoing compliance, identify potential risks, and drive continuous improvement in underwriting processes
Provide guidance and training to underwriters on compliance-related matters and regulatory changes impacting underwriting
Execute audit plan for Managing General Agents (MGAs) by coordinating with external firms to review underwriting activities, documentation, and adherence to agreements. This includes scheduling regular audits, evaluating MGA compliance with established thresholds and metrics, and collaborating with to address any identified deficiencies. Ensure that all audit findings are clearly documented, communicated to relevant stakeholders, and that corrective actions are tracked and verified for completion
Assist in managing admitted product filings and maintain a comprehensive and up-to-date form library with regular auditing to ensure accuracy
Provide compliance advice on new and existing products, business initiatives, and processes
Work with Group to deliver customized compliance training to staff to meet industry standards and regulatory expectations
Serve as a center of excellence for compliance matters, supporting staff queries
Work with Group to conduct risk assessments and compliance monitoring of US Region
Collaborate with pertinent departments to identify and assess potential areas of compliance risk
Maintain effective documentation for compliance monitoring and communicate findings to stakeholders
Create and document internal processes and procedures to ensure standardized compliance practices across the organization
Ensure entity completion of Own Risk and Solvency Assessment (ORSA)
Provide quarterly reports to the board regarding adherence to compliance KPIs
Review and approve new Managing General Agents (MGAs); monitor ongoing compliance of MGAs
Work with underwriting, data, finance, claims, and other functions, including London headquarters, on compliance matters
Qualification
Required
Bachelor's Degree required
minimum 3–5 years' experience in compliance within a P&C E&S/Surplus Lines insurance company
Strong appreciation of NAIC regulatory needs
Advanced strategic thinking and commercial acumen
Proficiency in standards management, audit, regulatory compliance, fraud prevention, ethics management, and cybersecurity
Excellent communication skills; ability to explain complex ideas to varied audiences
Advanced MS Office skills (Word, Excel, PowerPoint, Outlook)
Innovative, proactive team player able to work to tight deadlines and resolve operational matters independently
Preferred
Experience at an admitted carrier is welcomed but not essential
Exposure to the Managing General Agent distribution channel preferred
Benefits
Hybrid working
A competitive base salary
Non-contributory 401k
Discretionary bonus
Insurances including medical, dental and vision cover
Many other benefits to enhance financial, physical, social and psychological health
Company
Canopius Group
We are Canopius, a global specialty and Property & Casualty (re)insurer with offices in the UK, the US, Bermuda, Singapore and Australia.
501-1000 employees
Funding
Current Stage
Late StageTotal Funding
unknownKey Investors
Samsung Fire & Marine Insurance
2025-06-11Secondary Market
2019-11-04Corporate Round
2017-09-01Acquired
Leadership Team
Coleman Johnson
Chief Underwriting Officer, US and Bermuda
Lisa Davis
President and Chief Underwriting Officer
Recent News
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