Compliance Consultant – Advertising Compliance

Sammons Financial Group • Sioux Falls, SD

1d • $49,628 - $93,052 • Onsite

About The Position

We are seeking candidates with experience in both advertising review and advertising filing, ensuring compliance with applicable regulatory requirements. Responsible for performing detailed research and review of regulatory requirements and addressing changes for the industry as required. This may include reviewing, investigating, and responding to regulatory and client initiated complaints, performing agent investigations and/or ensuring advertising compliance with fixed, indexed and variable life and annuities. Responsible for incoming and outbound communications, both verbal and written, with clients, agents, third parties, and employees in other departments. Accountable for small to medium scope Compliance initiatives that involve single or small number of business functions. Accountable for compliance work involving a medium level of business risk. Required activities may also include reviewing advertising and sales literature to ensure compliance with corporate guidelines as well as state laws and regulations for both consumer and agent use only ads.

Requirements

• Working knowledge of life and annuity products, with specific knowledge of insurance company operations
• Ability to make sound and proper decisions by applying personal knowledge of guidelines, product information and personal professional judgement in review of assigned materials
• Excellent interpersonal and customer service skills
• Strong analytical solving skills, including the ability to accumulate, organize, and assimilate large amounts of information
• Excellent attention to detail and accuracy; including proofreading skills
• Ability to manage multiple tasks simultaneously and manage competing priorities
• Ability to work independently and be a team player by demonstrating flexibility, understanding of other positions, providing constructive and relevant input to discussions
• Organizational skills
• Demonstrate professionalism and an aptitude for problem resolution
• Advanced computer skills, including Microsoft Word and Excel and Adobe Acrobat
• Excellent written and verbal communication skills
• Excellent interpersonal and customer service skills
• Criminal background check required.
• FINRA regulations require fingerprinting for this position. Management reserves the right to determine and approve incumbent suitability for this position.

Nice To Haves

• Bachelor's Degree business or related field preferred or equivalent business experience Preferred
• Juris Doctorate degree Preferred
• 3-4 years' relevant compliance, internal audit or other equivalent experience Preferred
• Depending on the specific role, may require one or more of: FINRA Series 6, 7, 24, 26, 63, 65, 66, CRCM, CCEP, CAMS, or ability and commitment to obtain within 120 days of the job date
• If the position is in the SIG business unit, Annuity New Business Securities team, or if we are holding securities licenses (such as roles aligned with Wealth Management or Securities), FINRA regulations require fingerprinting for the position. If we are holding securities licenses, a credit check will also be required. Management reserves the right to determine and approve incumbent suitability for the position.
• May be subject to a SEC compliance program (such as roles aligned with Wealth Management and Securities), which can include monitoring personal securities transactions, restrictions on outside business activities, as well as other oversight and restrictions

Responsibilities

• Receive, review, and research applicable state and federal regulations to ensure all regulatory requirements are incorporated into company policies and practices for both Life and Annuity. Use professional judgement and forward thinking to adapt regulations to fast pace changes in the business units and insurance industry.
• Partner with and provide subject matter expertise to Sr. Compliance Consultants, Team Advisor or Manager with the receipt, review, research, investigation of and response/preparation to regulatory agencies and client initiated complaints of small to medium scope as assigned by manager. Attend compliance related meetings and present information as assigned; perform internal investigations and agent investigations when necessary. Surveying customers may be required within some projects.
• Assist compliance senior management in all aspects of the compliance function related to developing and implementing policies, procedures and controls; conducting reviews of compliance processes and operations; ensuring implementation of any required corrective actions; managing projects; developing and implementing systems to automate processes and procedures to enhance efficiencies.
• Develop and maintain good relationships with both internal and external customers by handling tasks in a timely and professional manner. This includes collaborating and negotiating with state regulators to resolve concerns as well as fostering relationships with state insurance department personnel in order to address decisions rendered by state personnel and, at times, openly and diplomatically address disagreements or concerns.
• Research and address/resolve “Red Flag” issues.
• Communicate and train appropriate employees regarding new laws and regulations for both Life and Annuity.
• Document, Update and Monitor Legislative Briefing Database.
• Serve as subject matter expert for field compliance manual and/or advertising guidelines. Notify manager of necessary changes and help ensure that updates are provided to business partners on a no less than annual basis.
• Ensure all compliance-related procedures are appropriately documented and categorized in a compliance manual format.
• Accountable for maintenance of files as well as participating in the in the review, collection of data, data testing and response to Market Conduct Exams and 38(a)-1.
• Use SLS concepts and/or other practices to assist manager with incorporating the shared values and division vision and mission statement into the department.
• If your focus within the department is exam related:Assist in the review, collection of data, data testing and response to Market Conduct Exams and 38(a)-1 assessments.
• If your focus within the department is consumer affairs related:Communicate verbally with clients and agents in relation to a written complaint or other inquiry.Draft clear and concise written responses to complaints or other inquiries.
• If your focus within the department is advertising review related: Log and track all review status and actions in Advertising Compliance Database.In conjunction with corporate guidelines, personal product knowledge and professional judgment, review submitted ads and marketing pieces for compliance purposes and respond within established corporate timeframes to approve or suggest changes and negotiate revisions for compliance and ultimately approve the final version after any recommended changes have been implemented.Collaborate with and provide subject matter expertise to other areas including Product Development, Actuarial, Marketing Communications, Marketing Strategy Team and Finance to verify specific aspects of ad. Responsible for the preparation and submittal of advertising forms to the appropriate states’ Departments of Insurance, as required.
• Commitment to embrace Sammons Financial Group Companies shared values (Accountability, Connection, Openness, Respect and Integrity).
• As stated within the Company Attendance and Punctuality policy, regular attendance is required and expected in order to meet the business service levels and workflow demands.
• Participate in other initiatives and/or projects as necessary.

Benefits

• Comprehensive health coverage for you and your family, including Medical, Dental, Vision, HSA & FSA options, and term life insurance.
• Competitive compensation with a performance-based incentive program tied to clear goals and individual and/or company success.
• 100% company-funded Employee Stock Ownership Plan (ESOP), plus automatic enrollment in our 401(k).
• Friday afternoons off year-round, generous paid time off, and paid holidays.
• Paid development time, tuition reimbursement, and professional development opportunities across industry, individual, and leadership programs.
• Volunteer time off, and our company nonprofit matching gift program.

What This Job Offers

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