Compliance Specialist II

Job Description

REQUIREMENTS

• Bachelor’s degree in business, finance, insurance, risk management, compliance, legal studies, or a related field; equivalent experience may be considered.
• 3 to 5 years of experience in compliance, risk management, insurance operations, internal audit, quality assurance, or a related field.
• Strong analytical, research, organizational, and problem solving skills.
• Strong written and verbal communication skills.
• Ability to interpret policies, procedures, regulations, and business requirements.
• Strong attention to detail and ability to manage multiple priorities.
• Ability to work independently while collaborating effectively with cross functional teams.
• Proficiency with Microsoft Office, including Excel, Word, and PowerPoint.
• Experience within the life insurance, annuity, financial services, or fraternal insurance industry.
• Experience with compliance monitoring, testing, risk assessments, or control evaluations.
• Familiarity with state insurance regulations and regulatory requirements applicable to life insurance and annuity products.
• Experience supporting regulatory examinations, internal audits, or external audits.
• Professional designation or coursework in compliance, insurance, risk management, or financial services, such as LOMA coursework, FLMI, ACS, or related credentials.

RESPONSIBILITES

Compliance Monitoring and Testing:

• Conduct routine compliance monitoring and testing activities across assigned business areas.
• Review business processes, transactions, documentation, communications, and system activities for compliance with applicable requirements.
• Identify potential compliance gaps, control weaknesses, and areas of regulatory risk.
• Document testing procedures, results, findings, and recommendations.
• Track remediation activities and follow up on outstanding compliance issues.

Regulatory Compliance:

• Monitor applicable federal and state laws, regulations, regulatory guidance, and industry requirements impacting our client’s Life.
• Assist with evaluating regulatory changes and determining potential business impacts.
• Support the development and maintenance of compliance requirements, controls, procedures, and related documentation.
• Assist with regulatory inquiries, examinations, audits, and information requests.
• Maintain awareness of emerging regulatory and industry trends affecting life insurance and annuity operations.

Risk Management and Controls:

• Support compliance risk assessments and related risk documentation.
• Assist business areas in identifying and evaluating compliance risks.
• Help develop and maintain compliance controls and monitoring activities.
• Partner with business stakeholders to identify opportunities to strengthen processes and mitigate risk.
• Escalate significant compliance concerns in accordance with established procedures.

Policies, Procedures and Documentation:

• Assist with developing, reviewing, and maintaining compliance policies, procedures, standards, and guidelines.
• Maintain accurate compliance records, testing documentation, regulatory inventories, and tracking tools.
• Assist in ensuring compliance related documentation is current, accessible, and appropriately maintained.
• Support the development of compliance reports and management presentations.

Business Partnership and Advisory Support:

• Serve as a compliance resource for assigned business units.
• Collaborate with business and operational teams to provide guidance on compliance requirements.
• Participate in projects involving new products, processes, systems, vendors, or business initiatives to identify compliance considerations.
• Provide practical recommendations that support both regulatory compliance and business objectives.
• Promote a culture of compliance, accountability, and ethical business practices throughout our client’s Life.

Training and Awareness:

• Assist with the development and delivery of compliance training and educational materials.
• Support employee communications regarding regulatory requirements, policy updates, and compliance expectations.
• Help identify areas where additional training or awareness may be needed based on monitoring and testing results.

Other Compliance Responsibilities:

• Participate in compliance projects and cross functional initiatives.
• Assist with internal and external audit activities as assigned.
• Perform research and analysis related to compliance questions and emerging requirements.
• Maintain confidentiality of sensitive company, customer, employee, and regulatory information.
• Perform other duties and responsibilities as assigned.

Properly Adheres to Company Risk Management Principles:

• Adhering and supporting our client’s Enterprise Risk Management Framework.
• Understanding and complying with applicable laws, regulations, policies, and procedures; completing all required training; executing and monitoring controls effectively (as applicable); appropriately identifying, assessing, escalating and remediating risks, potential issues and control failures (as applicable); and reporting compliance or regulatory concerns to management.
• Understanding and conducting oneself in accordance with the Employee Handbook and preserving our client’s brand and reputation.

Are you interested in this position?

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