Sr Associate, Compliance
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AI Summary
SUMMARY:
Provides leadership and support for market conduct and compliance functions by interpreting regulatory requirements, developing and maintaining policies and procedures, conducting audits, supporting regulatory inquiries and examinations, and partnering with business areas to promote compliance, quality, persistency, and customer satisfaction.
RESPONSIBILITIES:
- Interpret and communicate the impact of new laws and regulations.
- Participate in appropriate industry associations in order to stay informed about changes in the insurance marketplace, to network, and to stay abreast of best practices.
- Work with a variety of functional areas to integrate compliance responsibilities throughout the organization.
- Participate in the development, implementation and maintenance of company policies and procedures related to market conduct and compliance. As a part of this responsibility, this individual will monitor compliance with our regulatory software as well as with the regular compliance audits. Additionally, this individual will work with various regulatory agencies during inquiries, exams and investigations related to the company and its representatives.
- Assure that company policy related to market conduct and compliance is fully communicated to the appropriate areas and project teams of the company. Monitor the practices of the organization to assure compliance with these procedures. Actively report about current market conduct activities to senior management.
- Complete audits, document findings, communicate results, and work with business areas to improve future results.
- Conduct agent investigations and agent appointment reviews. Review potential AML transactions and take appropriate action as necessary.
- Establish initiatives that monitor and improve persistency, quality, and customer satisfaction.
- Support the general counsel and assistant general counsel to assure they have the information and documentation required to complete his/her work. Serve as a liaison as required between the general counsel and the functional areas as appropriate.
- Complete regulatory research as needed and prepare conclusions in a way that captures legal and regulatory requirements.
- Assist the Company and Department with product compliance initiatives as may be requested by management.
EDUCATION and EXPERIENCE:
- BA or BS in Business or equivalent work experience required; graduate degree such as a JD is preferred.
- 5+ years of insurance industry experience, including 5 years in compliance related work preferred.
- Advanced industry designations such as CLU or FLMI preferred.
SKILLS AND KNOWLEDGE:
- This individual must possess a thorough knowledge of the insurance business and industry as well as company products, policies and procedures.
- The ability to approach difficult issues tactfully but firmly is critical to the success of this individual.
- Must have outstanding organization and communication ability and work extremely well under pressure.
- Must also exhibit a professional demeanor and maintain a high level of integrity and credibility.
- Given the confidential nature of many of the issues that are addressed in this area, this individual must possess the ability to maintain the confidence of senior management.
COMPETENCIES:
Drive - Displays motivation, is proactive and resourceful in daily work. Persists to complete responsibilities, even in the face of difficulties, is optimistic and tenacious throughout.
Collaboration - Able to actively listen to others and build relationships and trust, effectively handle conflict, and interact with tact and respect. Articulates ideas and concerns so others are able to understand and is sensitive to others and is able to adapt to different types of individuals.
Able to cooperate and collaborate with colleagues to achieve shared goals and encourages others and seeks out opportunities to collaborate across the business.
Adaptable - Willingly adapts to constantly changing circumstances while maintaining perspective. Engaging in continuous learning, adjusting the application of knowledge, skills and abilities while addressing new challenges. Accepts constructive feedback.
Responsible - Follows through on commitments; clearly defines mutual expectations of selves and others. Responds to demands of job by accepting responsibility for assignments, shows initiative and takes timely and appropriate actions to meet needs.
Execution - Thinks critically and has the best interests of the company, colleagues, and customers in mind when approaching situations. Anticipates obstacles and assesses situation to determine best possible solution. Demonstrates an ability to get essential information and exercises sound judgments about alternatives. Knows both technical and practical aspects of the job and continually updates skills and knowledge.
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