What are the responsibilities and job description for the Product Compliance Specialist position at Richmond National?
Job Title: Product Compliance Specialist
Department: Legal
Location: On-site in Glen Allen, VA
Position Overview
We are seeking a collaborative and detail-oriented professional with strong writing skills to join our Legal department as a Product Compliance Specialist. In this role, you will lead the design, evolution, and production of our commercial insurance products and policy forms. This is an excellent opportunity to join a growing team that will help shape the future of our company.
Responsibilities
Product Design & Innovation
At the time of posting, the expected base salary range for this role is $85,000-$105,000 annually. Additionally, this position is eligible for participation in our annual bonus program. Actual compensation will be determined by many factors, including but not limited to, location, education, certifications, qualifications, relevant experience, internal equity, business need, and any applicable minimum wage requirements. Richmond National offers a comprehensive benefits package, more details on which can be found below.
Benefits Overview
Richmond National is an equal employment opportunity employer, the Company’s employment decisions and practices are not and will not be unlawfully influenced or affected by race, color, creed, age, religion, national origin, sex, disability, genetic information, veteran status, uniformed services, sexual orientation (including transgender status, gender identity or expression), gender, traits historically associated with race, such as hairstyle, pregnancy, childbirth, or related medical conditions or on any other characteristic protected by applicable federal, state, or local law. This policy of equal employment opportunity applies to all policies and procedures relating to recruitment and hiring, compensation, benefits, and all other terms and conditions of employment.
Department: Legal
Location: On-site in Glen Allen, VA
Position Overview
We are seeking a collaborative and detail-oriented professional with strong writing skills to join our Legal department as a Product Compliance Specialist. In this role, you will lead the design, evolution, and production of our commercial insurance products and policy forms. This is an excellent opportunity to join a growing team that will help shape the future of our company.
Responsibilities
Product Design & Innovation
- Lead the drafting, review, revision, and production of policy forms, endorsements, and applications for new and existing commercial insurance products.
- Translate underwriting objectives and strategies into precise, legally sound policy language.
- Monitor market trends, competitor offerings, and legal/regulatory/judicial changes to inform product enhancements.
- Partner with internal legal and compliance teams to ensure all products meet applicable regulatory requirements.
- Research state insurance statutes and regulations as they apply to product design.
- Partner with internal stakeholders to align form language and risk appetite.
- Support underwriting and claims with coverage interpretations, training, and documentation.
- Collaborate with IT and operations teams to implement policy changes into systems and processes.
- Lead internal initiatives for product standardization, innovation pilots, or compliance audits.
- Serve as a key resource in product-related projects and internal audits.
- Bachelor’s degree and/or legal training (such as a paralegal certification) preferred; J.D. is a plus.
- 3 years of commercial lines insurance experience or relevant experience in contract drafting, regulatory work, coverage analysis, or related roles.
- Excellent analytical, writing, and communication skills.
- Familiarity with insurance regulatory frameworks across states.
- Familiarity with ISO Forms a plus.
- Strong proficiency in Microsoft Office; experience with product or contract lifecycle management tools (i.e. Mozart) is a plus.
At the time of posting, the expected base salary range for this role is $85,000-$105,000 annually. Additionally, this position is eligible for participation in our annual bonus program. Actual compensation will be determined by many factors, including but not limited to, location, education, certifications, qualifications, relevant experience, internal equity, business need, and any applicable minimum wage requirements. Richmond National offers a comprehensive benefits package, more details on which can be found below.
Benefits Overview
- Medical, Dental, and Vision insurance plans. FSA/HSA plans available.
- Basic Life/AD&D/Short Term/Long Term Disability coverage.
- 401(k) - Company match of up to 6%
- Flexible PTO plan, 11 paid company-wide holidays, plus your birthday off.
- Recognized as a Top Workplace by Richmond Times-Dispatch
Richmond National is an equal employment opportunity employer, the Company’s employment decisions and practices are not and will not be unlawfully influenced or affected by race, color, creed, age, religion, national origin, sex, disability, genetic information, veteran status, uniformed services, sexual orientation (including transgender status, gender identity or expression), gender, traits historically associated with race, such as hairstyle, pregnancy, childbirth, or related medical conditions or on any other characteristic protected by applicable federal, state, or local law. This policy of equal employment opportunity applies to all policies and procedures relating to recruitment and hiring, compensation, benefits, and all other terms and conditions of employment.
Salary : $85,000 - $105,000