Job Summary:
The Residual Market Technical Analyst works under the direction of the Director of the Rating Rules & Policy Reporting Departments. The Delaware Compensation Rating Bureau, Inc. (DCRB) is designated by the Delaware Insurance Commissioner as the administrator of the Delaware Insurance Plan (DIP), which enables employers to meet Delaware Workers’ Compensation Law requirements when coverage is unavailable in the voluntary market.
In this role, the Residual Market Technical Analyst acts on behalf of DCRB as the administrator and subject matter expert for the Delaware Insurance Plan and all residual market–related duties and activities. The position is responsible for the day-to-day application administration, technical operation of the Delaware Insurance Plan Manager (DIPM) system and serves as a primary point of contact for carriers, agents, and employers, providing professional support and correspondence on a daily basis. They are responsible for remaining current on the Delaware Insurance Plan updates, regulatory changes, and market trends and translates these developments into clear business, functional, and technical requirements to support system enhancements and application processing improvements within the external-facing DIPM system. The Analyst also focuses on improving operational efficiency and plan performance through process analysis, metrics development, reporting, and continuous improvement initiatives.
This position serves as a key bridge between technical and non-technical stakeholders, supporting projects, system changes, and ongoing plan administration and application processing while ensuring compliance with applicable laws and plan requirements.
Essential Responsibilities
- Administer the day-to-day processing operations of the Delaware Insurance Plan (DIP) and the Delaware Insurance Plan Manager (DIPM) system.
- Serve as the subject matter expert (SME) for the Delaware Insurance Plan, residual market policies, procedures, and administration processes at both technical and non-technical levels.
- Process applications and assign employers to insurance carriers
- Support with insurance premium calculations
- Provide professional support and correspondence to internal staff, carriers, agents, and employers regarding the Plan and related systems.
- Monitor regulatory updates, plan changes, and market trends impacting the Delaware Insurance Plan.
- Translate regulatory, business, and operational changes into actionable business and technical requirements for system and process enhancements.
- Identify, recommend, and support automated process improvements and system enhancements to optimize plan performance and efficiency.
- Lead and support aspects of system changes related to the DIPM, including requirements elicitation, testing support, and implementation activities.
- Analyze data, develop metrics, and prepare reports for leadership, NCCI, and other ad-hoc requests.
- Review and incorporate feedback from agents, employers, and carriers to improve processes, procedures, and service delivery.
- Work effectively with technical and non-technical teams and serve as a liaison between stakeholders.
- Oversee assigned project work, exercising independent judgment and leading small to medium-sized initiatives with minimal supervision.
- Facilitate meetings, support brainstorming and consensus-building efforts, and interact with stakeholders at all organizational levels, including executive leadership.
- Provide project and analytical support for other initiatives within the Rating Rules & Policy Reporting Department, as needed.
- Ensure compliance with Delaware Workers’ Compensation laws and Delaware Insurance Plan requirements.
- Maintain timely and consistent attendance.
Non-Essential Responsibilities
- Perform other miscellaneous duties as requested.
Essential Skills & Qualifications
- Demonstrated experience preparing and maintaining:
- Business process documentation
- Process flow analyses
- Business and technical requirements
- Executive summaries
- Project plans
- Use cases and test plans
- Ability to lead and coordinate project activities, including:
- Setting deadlines and assigning responsibilities
- Monitoring progress and following up
- Identifying risks and developing mitigation plans
- Providing respectful, constructive feedback
- Escalating issues as appropriate
- Detail-oriented with the ability to quickly learn and apply new concepts, business models, and technologies.
- Strong interpersonal skills; team-oriented with the ability to take a leadership role when needed.
- Working knowledge of project planning tools such as Smartsheet or similar software.
- Familiarity with DevOps tools or similar software a plus.
- Experience working with developers and technical teams preferred.
Requirements:
Education: Bachelors degree in business or equivalent job experience required; insurance coursework a plus. Two to four years of related experience in business analysis, technical requirements analysis, insurance operations, or a related field. Industry or workers’ compensation insurance experience is a plus.
Experience: 2 to 4 years of business experience required; Industry and insurance experience a plus.
Skills Required: Strong organizational, communication, written and decision making skills with the ability to work independently and adapt to various situations. Employee must possess the ability to manage multiple assignments and prioritize tasks accordingly. PC proficient; experience in Microsoft Office 365 (Excel, Word, PPT). Employee familiarity with PCRB/NCCI nomenclature a plus. Communicate effectively with all levels of PCRB personnel and outside contacts.
Work Hours:
Normal PCRB hybrid Flex time is available. Employee must be flexible when needed as projects or deadlines may sometimes necessitate extended hours.
