What are the responsibilities and job description for the Senior Compliance Specialist position at Americo Financial Life and Annuity?
SENIOR COMPLIANCE SPECIALIST ( IV-V )
Americo: We’re in this for life!
The roots of the Americo family of companies date back more than 100 years. Americo is a life insurance, annuity, and Medicare Supplement Insurance company providing innovative products to our customers. At Americo, it’s the people who make things work, so we hope you join us!
Job Summary
We are looking for an individual with multiple years of compliance and/or regulatory experience and knowledge to join our team! This job aims to reduce the risk of regulatory action, litigation, and fraud against the company by ensuring Americo companies are in compliance with regulations and statutes, litigation risks are identified and addressed, and controls are in place to prevent and reduce fraud. This individual should have experience in the insurance industry, reviewing and responding to complaints, understanding fraudulent activity, and knowing when and which departments to involve.
Key Responsibilities
- Complaints & Regulatory Inquiries - Respond to and provide review/approval of others responses to complaints and regulatory inquiries for accuracy, regulatory and litigation risk and escalate as appropriate. Complete all quality review duties and provide input for training opportunities.
- Act as Compliance Lead for Major Fraud Issues - Direct the fraud investigation process, monitor/communicate concerns, make appropriate recommendations and notify regulatory entities as appropriate. Complete all quality review duties and provide input for training opportunities.
- Market Conduct Exams - Oversee all aspects of market conduct exams including assignments, review, summarization, communication and any associated follow-up communications and remediations.
- Compliance Resource for Operational Areas-respond to questions and issues of a compliance nature from the operational areas and escalate to Compliance Director when warranted. Assist in communicating and tracking Regulatory Updates across the company.
- Litigation Support-Act as contact with both internal and outside counsel to summarize information and gather production/interrogatory responses.
Knowledge, Skills, and Abilities
- In-depth knowledge and understanding of life insurance and annuity product fundamentals
- Knowledge of insurance industry as a whole
- Understanding of the regulatory environment for life and annuity products
- Must be competent and knowledgeable regarding all requirements, issues and risks in regards to AML Rule.
- Must be competent and knowledgeable regarding all requirements, issues and risks in regards to annuity suitability requirements.
- Knowledge of market conduct examinations and experience working with state department of insurance employees and examiners.
- Understanding of how to motivate others to accomplish objectives
- Knowledge of project management methodologies and project management systems.
- Must be detailed orientated
- Must have exceptional professional communication skills, both in writing and verbally
- Must be able to manage multiple tasks
- Must be able to determine priority of a task and reprioritize as needed
- Must be able to recognize when a problem exists, be able to analyze problem and determine course of action to resolve problem
- Must be able to “lead” people and manage projects in order to insure compliance with regulations by associates at all levels of the organization.
- Ability to understand litigation issues, litigation strategy.
- Skill to make effective presentations to senior management.
- Understanding of systems used for project management. Competency in Excel, Word, Powerpoint and other systems needed to manage projects and manage control reporting
Education
College degree, preferred
FLMI, AIRC Designations are a plus
What you’ll love about working at Americo:
Compensation: You’ll feel valued with our competitive pay and robust bonus program that’s offered to all associates.
Learning and development: We prepare you with a comprehensive, paid training program that will get you ready for success. Additionally, our Talent Development team creates a variety of development opportunities for associates at every stage of their careers.
Work-life balance: We place true value on work-life balance with our generous paid time off; you begin accruing hours right off the bat every month and it increases with tenure. All new hires earn over 4 weeks of paid time off annually, plus 11 paid company holidays! We also support new mothers with a generous new child leave program, along with paid STD and LTD.
Health and well-being: We commit to your health and well-being and are proud to offer comprehensive health and life insurance options including FSA or HSA accounts and subsidies to support your health and fitness goals through vendor partnerships at The Y, Orange Theory, WW, and more.
Future planning: Americo offers a 401(k) with a company match, and we provide child care and education tax credits or savings options.
Giving back: We support several local organizations like Ronald McDonald House, Hope Lodge, the American Red Cross, Harvesters, and many more. Our associates volunteer their time and donate money alongside the company to make a difference in our community.
The fun stuff: Americo participates in Kansas City Corporate Challenge, and it’s a great way to connect with coworkers. Additionally, we host events like a Royals Party at the K, a legendary Holiday Party, and in-office events with local vendors as a way for associates to step away from work and enjoy each other’s company.
Bustling environment: Our newly renovated offices are conveniently located in downtown Kansas City, within walking distance to your favorite restaurants and attractions. Plus, you’ll receive complimentary paid parking near our Americo offices – downtown parking is a premium, but we’ve got you covered.
