Chief Compliance Officer

Chief Compliance Officer

Job Summary:

The CCO will be responsible for managing the overall compliance risk for the company, establishing a robust compliance framework, and fostering a culture of ethical business practices. This role will have a deep understanding of the benefits insurance industry, a proven track record of managing compliance programs, and a strong ability to work with senior leadership to navigate complex regulatory landscapes.

Duties and Responsibilities:

• Establish, implement, and continually evaluate and update practices that promote company culture and vision.
• Resolve variety of high impact problems/projects through in-depth evaluation of complex business processes, system processes, and industry standards
• Prepares input for operating budget. Monitors budget activity on a regular basis ensuring budget criteria and cost control measures are maintained and directs significant special projects as required.
• Monitor industry trends and recommend cost-effective and efficient solutions to accelerate business outcomes. Liaise with other departments to ensure that industry or regulatory updates are implemented accordingly.
• Develop, implement, and maintain the company’s compliance program to ensure adherence to all applicable federal, state, and local laws, regulations, and industry standards.
• Advise on regulatory developments, compliance risks, and the strategic direction of compliance initiatives.
• Lead the compliance function in identifying, assessing, and mitigating compliance risks across all business lines, including underwriting, claims, sales, marketing, and operations.
• Stay informed about current and evolving regulations impacting the insurance industry, including but not limited to state insurance codes, federal regulations (e.g., NAIC, Dodd-Frank Act, GDPR, etc.), and other relevant laws.
• Lead the company’s response to regulatory inquiries, examinations, and audits, ensuring timely and thorough compliance with requests.
• Develop, update, and implement internal compliance policies and procedures to ensure alignment with regulatory requirements and best practices.
• Conduct ongoing training for employees, management, and agents on compliance matters, ensuring that staff understand their obligations and the company’s policies and procedures.
• Oversee the monitoring of business operations to detect and prevent non-compliance, fraud, and other violations.
• Establish and manage a system of internal controls to identify potential compliance gaps and recommend corrective actions.
• Conduct regular compliance audits and assessments to evaluate the effectiveness of the compliance program.
• Maintain a robust system for tracking compliance issues, complaints, and potential regulatory violations, ensuring timely resolution and reporting to appropriate authorities.

Required Knowledge, Skills, and Abilities:

• Juris Doctor degree or other relevant advanced degree or equivalent In-depth knowledge of insurance regulations, industry best practices, and relevant federal/state regulatory frameworks.
• Licensed attorney in any state with contracts experience preferred
• Minimum of 10 years of experience in a compliance, legal, or regulatory role, with at least 5 years in a leadership position within the insurance industry with strong experience in Group Health Plans
• Certifications such as Certified Regulatory Compliance Manager (CRCM), Certified Compliance and Ethics Professional (CCEP), or other relevant industry certifications are highly desirable.
• Experience in managing compliance programs, regulatory investigations, and audits.

Pay may vary based on location. Offers will be adjusted based on an individual's experience, education, certifications and other job-related factors as permitted by law. Pay range is $200,000 – 300,000 annually.