As the Assistant Director of Compliance, you will collaborate with the Regulatory Compliance team to ensure compliance of the company’s life and health insurance products, forms, and rates with state and federal regulations. This role requires strong regulatory knowledge, attention to detail, and effective communication skills.
Key Responsibilities:
- Review and analyze state and federal laws and regulations to determine compliance standards for insurance products.
- Assist in drafting policy and form language to address risk management considerations and regulatory requirements.
- Guide the filing process to secure approvals from state insurance departments for policy forms and rate filings using SERFF filing tools.
- Review product-related sales materials, presentations, and articles to ensure accuracy and compliance with state laws and regulations.
- Monitor changes in laws and regulations and update product forms accordingly.
- Educate internal stakeholders on product specifications, servicing requirements, and regulatory updates.
- Respond to inquiries and surveys from state insurance departments in a timely manner.
- Direct the filing of required state reports and facilitate the implementation of approved products and rates.
- Assist other departments by providing expertise on compliance-related matters and conducting special research projects.
Required Skills and Experience:
- 5+ years of relevant experience in the insurance industry, with a focus on product compliance.
- Strong understanding of life and health insurance products, including policy form drafting.
- Proficiency in SERFF filing tools and experience working with state insurance regulators.
- Excellent written and oral communication skills with the ability to simplify complex concepts.
- Proficiency in Microsoft Office Suite (Word, Excel, PowerPoint) and Adobe Pro.
- Impeccable attention to detail and organizational skills.
- Ability to balance multiple tasks and priorities while maintaining focus on strategic goals.
Education and Certifications:
- LOMA Fellow, Life Management Institute (FLMI) and/or LOMA Associate, Insurance Regulatory Compliance (AIRC) designation preferred.
- Bachelor’s degree in risk management, financial services, legal studies, or related field.
