Compliance Analyst

Royal Neighbors of America • Rock Island, IL

11h • Hybrid

About The Position

Requires strong research and analytical skills to handle compliance responsibilities relating to updates to laws and regulations agent conduct, member inquiries, preparing compliance audits, gathering market conduct data, and investigating suspected fraud. Must be comfortable using and learning new technologies. Essential Duties and Responsibilities: Under the guidance of Deputy General Counsel and/or the Compliance Manager reviews consumer complaints, compliance reference files, and agent conduct issues to compile relevant information, determine appropriate course of conduct and, as appropriate. make recommendations for action as applicable. Manages files in accordance with department standards such as Legal Files, SharePoint, LifePro, Perceptive, or other programs necessary for managing compliance. Primarily responsible for handling detailed member inquiries, preparing and composing letters; all requiring knowledge of life insurance, products, and application files. Provides support to Compliance Specialist with respect to agent terminations, agent investigation reports to impacted departments of insurance, oversees mailings to ensure timeline are appropriately met. Assist Compliance Specialists with suspected fraud investigations by reviewing agent files, certificateholder files and other documentation to identify trends. Manage follow-up inquiries from outside regulatory bodies. Creates or maintains database of information including replacements, complaints, incompletes, lapses, and new member surveys. Creates reports from databases, summarizes the reports, and makes recommendations to the Compliance Manager or other Compliance Specialists. Works with Compliance team in assuring compliance with state and federal regulations. May coordinate follow-up with impacted departments for implementation of new processes when required by statute or regulation including written plans outlining required changes and timelines for compliance. With assistance from the Compliance Manager, will initiate regulatory and some product filings with the ICC. May test products including contracts, riders, applications, cost and benefit, annual reports, state specific forms, and other supporting documents including integration and regression testing. Gathers and compiles information sought for market conduct exams and provides response recommendations to Compliance Manager. Provide updates to Compliance Manger regarding status of remediation efforts undertaken by operations teams. If qualified, provides additional support of paralegal function in Legal/Compliance Department. Other duties as assigned. Supervisory Responsibilities: This job has no supervisory responsibilities. Qualifications: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

Requirements

• Associate degree in paralegal studies or three to five years related experience or training.
• Successful completion of the Life Office Management Association (LOMA) certifications and designations: FLMI Level I Certificate, required
• Paralegal certification or relevant experience.
• Communicates Clearly and Effectively
• Achieves Results
• Builds Partnerships
• Thinks Strategically
• Adapts to and Promotes Change
• Research, analysis, investigations
• working knowledge of state and federal insurance regulations, project management, customer service, audit preparation, vendor relationship management, document drafting.
• Ability to calculate figures and amounts such as interest, commissions, proportions, percentages, area, circumference, and volume.
• Ability to apply concepts of basic algebra and geometry.
• knowledge of database software; Internet software, Westlaw; Microsoft Excel, Word, and Outlook.
• Individual should quickly grasp new technologies and processes in order to complete tasks.
• Life insurance and annuities - compliance and regulations.
• Insurance background and knowledge of insurance laws and regulations.
• Understanding and ability to utilize company policy systems in order to generate reports.
• Knowledge of industry standards.
• Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations.
• Ability to write reports, business correspondence, and procedure manuals.
• Ability to effectively present information and respond to questions from groups of managers, members, customers, and the general public.
• Ability to define problems, collect data, establish facts, and draw valid conclusions.
• Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.

Nice To Haves

• Associate, Customer Service (ACS), preferred.
• Associate Insurance Regulatory Compliance (AIRC) preferred or within one year of starting position.

Responsibilities

• Reviews consumer complaints, compliance reference files, and agent conduct issues to compile relevant information, determine appropriate course of conduct and, as appropriate, make recommendations for action as applicable.
• Manages files in accordance with department standards such as Legal Files, SharePoint, LifePro, Perceptive, or other programs necessary for managing compliance.
• Primarily responsible for handling detailed member inquiries, preparing and composing letters; all requiring knowledge of life insurance, products, and application files.
• Provides support to Compliance Specialist with respect to agent terminations, agent investigation reports to impacted departments of insurance, oversees mailings to ensure timeline are appropriately met.
• Assist Compliance Specialists with suspected fraud investigations by reviewing agent files, certificateholder files and other documentation to identify trends.
• Manage follow-up inquiries from outside regulatory bodies.
• Creates or maintains database of information including replacements, complaints, incompletes, lapses, and new member surveys.
• Creates reports from databases, summarizes the reports, and makes recommendations to the Compliance Manager or other Compliance Specialists.
• Works with Compliance team in assuring compliance with state and federal regulations.
• May coordinate follow-up with impacted departments for implementation of new processes when required by statute or regulation including written plans outlining required changes and timelines for compliance.
• With assistance from the Compliance Manager, will initiate regulatory and some product filings with the ICC.
• May test products including contracts, riders, applications, cost and benefit, annual reports, state specific forms, and other supporting documents including integration and regression testing.
• Gathers and compiles information sought for market conduct exams and provides response recommendations to Compliance Manager.
• Provide updates to Compliance Manger regarding status of remediation efforts undertaken by operations teams.
• If qualified, provides additional support of paralegal function in Legal/Compliance Department.
• Other duties as assigned.

Benefits

• We offer a comprehensive package of benefits including paid time off, health and dental insurance, and 401(k) to eligible employees.
• You can find more about our benefits at: https://flimp.live/RNAbenefitshowcase
• Additionally, this position is incentive eligible with a target based on company performance, and/or individual results achieved; the specific incentive plan and target amount will be determined on the role.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: Associate degree