Compliance Specialist

The McGowan Companies - Fairview Park, OH (30+ days ago)4.5

Job Title: Compliance Specialist

Department: Compliance

Status: Non-exempt


Reports to Compliance Manager. Under general supervision, the Compliance Specialists’ primary responsibilities, within their assigned territory, will be to make sure that the company and its brokers are operating under the proper licensure and is adhering to all state laws regarding the sale of insurance in the Non-Admitted marketplace. In addition the Compliance Specialist will be responsible for establishing and maintaining the agreements between The McGowan Companies and our brokers. Lastly, the Compliance Specialist will be in charge of all training of future Compliance Specialist(s) and assistants brought into the department.

Essential Duties and Responsibilities include the following.Other duties may be assigned in addition to the responsibilities shown below as deemed necessary and specific to the abilities of the designated Compliance Specialist.

  • Ensure that the underwriting staff are receiving the appropriate surplus tax as established by state law.
  • Review Surplus Lines policies issued by McGowan subsidiaries to ensure that all of the proper state-mandated notices are attached.
  • Generate reports from our Agency Management system(s) and analyze the data to determine what taxes are due to the states.
  • Reconcile tax amounts in our Agency Management system(s) and assist Accounting in the remittance of the taxes due to the states.
  • Notify states when Surplus Lines policies have been bound by filing Affidavits with each state's applicable Surplus Lines division and by their specified deadlines.
  • Work directly with the Surplus Lines divisions and Departments of Insurance in resolving any issues that arise in the course of business.
  • Verify Broker licensure as needed.
  • Set up new brokers in our database as well as collect the appropriate agreements and documentation.
  • Set up broker commission agreements for our Program divisions.
  • Handle broker acquisitions in a timely and professional fashion.
  • Maintain and update any broker changes (Address, Acquisitions, Contacts, E&O, Licensing, Etc.).
  • Handle all Purchasing Group Renewals in the assigned territory.
  • Assist Compliance Manager with New Purchasing Group Registrations.

Requirements and Skills:

- Proficiency in Microsoft Office Suite required;

- Excellent written and verbal communication skills;

- Attention to detail;

- Ability to work independently;

- Compliance monitoring and/or audit skills and relevant education and/or training required;

- Travel is not required.

The McGowan Companies is the largest privately-held MGA and Insurance Brokerage firm in the United States. For over 50 years we have provided superior insurance products on a local and nationwide basis. Learn about our company at

Job Type: Full-time

Salary: $30,000.00 to $36,000.00 /year