Whether it’s aircraft, international business or offshore wind parks, Allianz Commercial has an extensive range of risks covered when it comes to protecting businesses.
We are currently looking for a Product Development Business Partner in Financial Lines based in New York or Chicago.
The Impact You Will Have
The Financial Lines (“FL”) Product Development Group is a team of lawyers and paralegals within the FL business of Allianz Commerical (“AzC”) that creates insurance policies and bespoke products for our Insureds. The Business Partner provides regulatory compliance guidance and form support for FL insurance products directly reporting to the Regional Head of Product Development for North America. The Business Partner has direct responsibility for: initiating, coordinating, and implementing state regulatory filings for FL product forms; overseeing and implementing form changes based on state laws and AzC Functional Rules; creating, maintaining, and updating state specific forms for all FL products; developing and implementing strategies re: surplus lines and alternatives to rate and form filings; liaising and coordinating with other lines of business, and the Compliance, Legal, and Operations Departments with regard to any changes that impact FL forms. The role is also responsible for supporting the FL Product Development team in conforming products and maintaining drafting standards, and updating and improving underwriting platforms and tools for forms management, including form libraries and compliance related-tools.
Some of your specific responsibilities could include:
• Regulatory Compliance:
o Determine what and when forms need updating to align with state regulations
o Keep abreast of regulatory changes that impact financial lines products
o Create and advise Regional Head on regulatory strategies to increase and maintain filing compliance
• Filings
o Create and initiate forms filings for FL products
o Coordinate filings with actuarial and regulatory departments
o Create form and underwriting rules
o Respond to state filing objections
• Form Support
o Draft and update state specific and province specific forms (amendatory and termination)
o Advise underwriters on which forms to use
o Update forms to align with functional rules and FL style
• Forms Management Systems
o Create and maintain forms libraries for all FL products
o Support the implementation and use of AzC product and underwriting systems (legacy, current, and future)
o Document style rules and create consistency among FL products
o Act as the FL liaison for operations and IT with respect to form rules and implementation
What You’ll Bring to the Role
• 3-5 years experience with insurance forms filings with state insurance departments
• 3-5 years experience in relevant technical and financial analysis of regulatory filings
• 3-5 years experience with liability and fidelity insurance products
• 3-5 years experience in strong analytical skills using logical and methodological approaches to problem solving
• 1-3 years experience in created and organized various types of liability and fidelity insurance product forms, libraries, and workflows
• 5+ years experience with Microsoft word products, including Word, SharePoint, Excel
• Strong communication skills, curiosity to learn, empathy, and kindness
• Bachelor of Arts or Science or Associate degree in Paralegal Studies or other relevant area
The annualized base pay range for this role is $93,713- $185,550. The annual base salary range represents nationwide market range. The actual salary for this position may be above and will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate. The base pay is just one component of the AzC total compensation package. As part of our comprehensive compensation and highly rated benefits programs, employees are also eligible for annual performance-based cash incentive awards.