Compliance Analyst

Overview

Supports the Western & Southern Financial Group (W&SFG) insurance companies and Shared Services Units in meeting insurance and certain federal regulatory compliance requirements. Provides support to BUs and SSUs on regulatory requirements. Maintains accurate records related to compliance reviews. Interacts with regulatory agencies or industry groups, as needed. Works on general compliance projects and strategic initiatives as assigned. Works with limited supervision, handles multiple priorities, and is responsible for making an established range of decisions, escalating issues to management when necessary and updating management on a regular basis.

Responsibilities

What you will do:

• Responsible for helping to maintain a robust compliance program, ensuring adherence to applicable federal and state regulations, industry standards and company policies. This role may involve one or more compliance responsibilities across various disciplines including privacy, records management, anti-money laundering, annuity and securities suitability/best interest reviews, regulatory change management, fraud and elder abuse, market conduct exams and regulatory filings, complaints and investigations, compliance monitoring and audits, advertising and marketing, social media, product filing, and training.
• Prepares documentation necessary for assigned compliance responsibilities.
• Maintains applicable records and recordkeeping systems and keeps databases current and compliant with regulatory requirements and record retention requirements.
• Conducts regular monitoring and oversight to identify and remediate potential risks.
• Develops and maintains guidelines, manuals and processes.
• Establishes and maintains a working knowledge of insurance products, legal and regulatory requirements, and business forms and processes.
• Regularly collaborates with customers, including BUs, SSUs and Law, to identify concerns and issues, escalating as appropriate to management and stakeholders.
• Researches insurance regulations and laws, and analyzes and interprets regulatory compliance requirements. Updates procedures and processes in response to regulatory changes as appropriate.
• Responds to inquiries from associates and management concerning applicable function.
• Stays abreast of industry and compliance trends; recommends and implements changes to internal Company processes as needed.
• Assists in communicating compliance requirements, regulatory changes and regulatory actions to impacted associates, BUs and/or SSUs. Advises BUs and SSUs regarding regulatory implications of business decisions and the implementation of controls to mitigate risk.
• Performs other duties as assigned.
• Complies with all policies and standards.

Qualifications

• Bachelor's Degree Or equivalent experience. - Required
• Typically requires up to two years of related experience. - Required
• Demonstrated experience working effectively independently and within a team environment. - Required
• Demonstrated experience coordinating multiple projects/assignments simultaneously and completing assigned tasks accurately and on a timely basis. - Required
• Demonstrated ability to maintain a calm and professional demeanor associated with large workloads and meeting deadlines and target dates - Required
• Proven consistently strong client relationship skills while working with multiple BU/SSU associates. - Required
• Demonstrated strong verbal, written communication and presentation skills, interpersonal and collaborative skills with experience conveying information to internal customers in a clear, accurate, focused and concise manner. - Required
• Demonstrated knowledge of the life insurance industry to include products, distribution channels and basic understanding of regulations and regulatory environments. - Required
• Demonstrated ability to receive, organize and manage large amounts of diverse information and documentation. Possesses strong attention to detail and strong organizational skills. - Required
• Proficient in the use of Microsoft Office. - Required
• LOMA - Associate, Insurance Regulatory and Compliance (AIRC) designation - Preferred

Work Setting/Position Demands:

• Works in an office setting and remains in a stationary position for long periods of time while working at a desk, on a computer or with other standard office equipment, or while in meetings.
• Requires the ability to verbally communicate and exchange accurate information to customers and associates on a regular basis.
• Requires visual acuity to read and interpret a variety of correspondence, procedures, reports and forms via paper and electronic documents, visual inspection involving small defects; small parts, and/or operation of machinery (including inspection); using measurement devices continuously. Visual acuity is required to determine accuracy, neatness, and thoroughness of work assigned.
• Requires the ability to prepare written correspondence, reports and forms using prescribed formats and conforming to rules of punctuation, grammar, diction, and style on a regular basis.
• Requires the ability to apply principles of logical thinking to define problems, collect data, establish facts, and draw valid conclusions
• Performs substantial movement of wrists, hands, and fingers for continuous computer work.
• Extended hours required during peak workloads or special projects/events.
• Occasional after-hours work needed

Travel Requirements:

• 5% travel may be required annually.