What are the responsibilities and job description for the Insurance Compliance Manager, Group Benefits position at Lexitas Legal Talent Outsourcing?
Our client, a leading insurance company, located in White Plains, NY, seeks a Compliance Manager, Group Benefits, to manage the compliance program for Group Benefits business (e.g., stop loss, limited medical, group accident insurance coverage). This role is on-site Monday - Friday. Salary is $110,000-$140,000.
Duties and Responsibilities :
- Maintains the Group Benefits business compliance program, including providing guidance to internal and external partners, as a subject matter expert.
- Performs legal research and tracks regulatory developments to update compliance policies and procedures.
- Oversees the Group Benefits business compliance with HIPAA and other privacy and data security laws in collaboration with team members.
- Assists with audits of third-party business partners and oversees any necessary remediation.
- Assists with compliance change management efforts, ensuring that requirements are identified and addressed in a timely manner. Participates on the Company Compliance Action Team to help implement compliance requirements.
- Drafts and maintains Standard Operating Procedures (SOPs), product manuals and other written guidance for internal and external partners.
- Develops and rolls out compliance training, and ensures internal and external partners receive appropriate guidance on compliance policies and procedures.
- Manages the resolution of regulatory inquiries and reviews (including complaints, market conduct exams, and surveys). Ensures all regulatory responses are timely, accurate and high quality.
- Works with internal and external partners to collect and analyze data, and timely report to regulatory agencies, including maintaining a tracking calendar for such regulatory reports.
- Oversees the drafting of life and health policies, ensuring compliance with applicable laws (e.g., group accident, student accident, vision, dental, medical stop loss and other health insurance coverages). Collaborates with internal and external partners involved with developing and filing policies for existing and new products. Files and negotiates insurance policy approvals with the Interstate Compact and state insurance departments.
- Records, investigates and escalates alleged non-compliance with laws, regulations, and company policies for appropriate handling.
- Represents company on enterprise projects and initiatives, as needed.
- Complies with all policies and standards
Requirements :
Computer Skills and Knowledge of Hardware & Software Required
Salary : $110,000 - $140,000
