What are the responsibilities and job description for the VP, Deputy Chief Compliance Officer position at Fidelity & Guaranty Life Insurance Company?
Job Description
Job Description
Job Summary
The Deputy Chief Compliance Officer (DCCO) role will play a critical leadership role in ensuring regulatory compliance and fostering a culture of ethical conduct within the organization. Reporting directly to the Chief Compliance Officer (CCO), the DCCO will oversee compliance activities related to Fidelity & Guaranty Life Insurance Compnay's ("F&G") annuity and life insurance products, ensuring alignment with state regulations and internal policies, as well as support the compliance function of the F&G's broker-dealer. The DCCO will also act as a key advisor on interpretation and implementation of regulation for insurance and annuity products. This position will work closely with other members of the Legal, Compliance and Risk groups, as well as the Operations, Marketing and Sales teams.
Duties and Responsibilities
- Subject matter expert in regulatory requirements as applicable to the distribution of annuity and life insurance business. Ensure the company's sales practices, documentation, and policies / procedures align with these standards.
- Provide guidance and recommendations to the Sales, Marketing, and Product Development teams to address compliance with insurance regulations including Best Interest obligations, including compliance on the principles of care, disclosure, conflict of interest management, and documentation.
- Monitor changes in regulatory requirements and ensure timely updates to policies, procedures, and practices, particularly concerning NAIC and state-level insurance regulatory standards.
- Collaborate with product development teams to assess compliance risks associated with new annuity and life insurance offerings.
- In collaboration with CCO, develop, communicate and implement the department vision, mission and strategic direction in alignment with company and department business objectives
- Act as a strategic partner to the CCO, providing insights and recommendations on compliance matters affecting the organization
- Manage reporting and recommend continuous improvement to Compliance KRI's.
- Support the CCO in managing the compliance function of the F&G broker-dealer with subject matter expertise in FINRA rules and SEC broker-dealer regulation.
- Serve as a key liaison between the compliance function and other departments, fostering a collaborative approach to risk management and regulatory adherence.
- Support the CCO in further evolving the company's Three-Lines-of-Defense enterprise risk management program.
- Develop and oversee compliance monitoring programs to identify and mitigate risks proactively.
- Prepare and deliver regular reports to the CCO and executive leadership on compliance performance, emerging risks, and corrective actions taken.
- Coordinate internal and external audits and examinations, ensuring timely resolution of findings.
- Communicate compliance expectations effectively across the organization, promoting a culture of transparency and accountability.
- Lead the drafting, updating, and dissemination of compliance policies and procedures, ensuring clarity and consistency.
- Provide input on company policies to mitigate regulatory and operational risks.
- Serve on Compliance leadership team and other internal leadership teams as applicable
Management Responsibilities
Experience and Education Requirements
Knowledge, Skills & Abilities
Other Requirements
IND-HP
LI-MK1
LI-Remote
Additional Information
Work Environments
F&G believes in an employee-centric flexible environment, which is why we offer the ability for in-office, hybrid and remote work arrangements. During the hiring process, you'll work with your leader to decide what works best for your role.
F&G complies with federal and state disability laws and makes reasonable accommodations for applicants and candidates with disabilities, unless such accommodation would cause an undue hardship for F&G. If reasonable accommodation is needed to participate in the job application or interview process, please contact talentacquisition@fglife.com.
Join our employee-centric hybrid work environment : F&G Careers
About F&G
Since 1959, Fidelity & Guaranty Life Insurance Company (F&G) has offered annuity and life insurance products to those who are seeking security in retirement and protection during life's unexpected events.
As a national Top Workplace1, an Iowa Top Workplace2 and a proud equal opportunity employer, F&G team members are empowered, collaborative, dynamic and authentic. We believe that by embracing these values, we will continue to build and strengthen the company while continuing to be a great place to work.
1 Top Workplaces USA 2022 – 2023
2 Des Moines Register Top Workplaces 2018 – 2022
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