Our Client a highly regarded Insurance company is seeking a Compliance Director. The ideal candidate will provide a broad array of compliance services to a distinct mix of internal and external customers including: broker/dealers, operational and business units, marketing, wholesalers/sales consultants, field supervisors, agents/IMOs, and regulators, ultimately assisting in the successful administration of the Company’s compliance program. The program is critical to ensure complaint practices with respect to the development and distribution of a diverse suite of insurance products and consultative services offered through independent agents and FINRA-registered wholesalers.
Duties and Responsibilities:
• Assist in monitoring day-to-day insurance company operations to ensure compliance with applicable laws, rules, and regulations.
• Participate in the maintenance of applicable policies and procedures.
• Assist with new product development and associated regulatory filings
• Lead in managing the Market Conduct Annual Statement preparation and submission process
• Management variable product compliance – Rule 38a-1
• Assist in the development and conduct tests of internal procedures in accordance with FINRA/SEC Rules and NAIC Model Regulations.
• Work with business/compliance management to develop corrective actions for compliance issues that are identified.
• Interact professionally and effectively with a diverse group including executives, legal, managers, business and operational leaders, registered representatives and subject matter experts.
• Management of regulatory inquiries, market conduct exams, and regulatory filings.
• Provide creative solutions to business problems utilizing business knowledge and technology expertise.
• Utilize experience with life and annuity products and back office operations to provide compliance guidance and practical solutions to business partners.
• Review advertising and sales materials to ensure acceptable content standards, appropriate representations and regulatory compliance
• Assist with Suitability and agent surveillance activities
• Must maintain appropriate attendance.
Skills, Knowledge and/or Experience:
• 8-10 years life/annuity industry compliance experience
• Bachelor’s degree or equivalent
• FINRA Series 6/26 or Series 7/24 registrations preferred
• Regulatory environment fluency with respect to life and annuity products
• Excellent coordination and facilitation skills
• Proactive strategic thinker and change agent
• Excellent verbal and written communication skills
• Strong collaboration and project management skills
• Organizational acumen and nimble thought process
• Self-starter who is able to work independently as well as being a consummate team player
• Operational system and transactional processing experience
• Understanding of annuity product and associated suitability process
• Rule 38a-1 compliance knowledge and experience
• Experience with Market Conduct Annual Survey (MCAS) and NY Market Profile
• Fixed Index Annuity (FIA) product development experience
Special Working Conditions:
• Some business-related travel
• Some non-traditional business hours are required
• Time-off restrictions may apply during regulatory examinations