Compliance Consultant

Sammons Financial Group • Sioux Falls, SD

9d

About The Position

The Compliance Consultant supports the company’s life insurance compliance program by assisting with regulatory examinations, annual compliance filings (including MCAS), and regulatory change management. The role researches applicable life insurance laws and regulations, evaluates regulatory changes, and helps guide business partners. It also conducts compliance assessments, referred to as exam readiness testing, to identify potential gaps and help prepare for regulatory examinations.

The ideal candidate has strong research and writing skills, proficiency in Microsoft Excel, and close attention to detail. A background in life insurance compliance and knowledge of insurance rules, regulations, and filing requirements are preferred. The role requires interpreting regulatory information, communicating clearly, and accurately managing work to established deadlines.

Requirements

• Three to four years of relevant compliance, internal audit, or equivalent experience (preferred).
• Working knowledge of life and annuity products and insurance company operations.
• Ability to make sound decisions by applying knowledge of guidelines, product information, and professional judgment to assigned materials.
• Excellent interpersonal and customer service skills.
• Strong analytical and problem-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 and competing priorities.
• Ability to work independently and as part of a team, demonstrate flexibility and understanding of other roles, and provide constructive, relevant input.
• Organizational skills.
• Professionalism and aptitude for problem resolution.
• Advanced computer skills, including Microsoft Word, Excel, and Adobe Acrobat.
• Excellent written and verbal communication skills.
• Minimal overnight travel, anticipated at up to 5%.
• Criminal background check required.
• Fingerprinting is required under FINRA regulations; management determines and approves incumbent suitability.
• Must not require immigration sponsorship or work authorization for this role, now or in the future.

Nice To Haves

• Bachelor’s degree in business or a related field, or equivalent business experience (preferred).
• Juris Doctorate degree (preferred).
• Background in life insurance compliance, including knowledge of insurance rules, regulations, and regulatory filing requirements.

Responsibilities

• Receive, review, and research applicable state and federal regulations and ensure requirements are reflected in company policies and practices for Life and Annuity.
• Apply professional judgment to adapt regulatory requirements to changes in business units and the insurance industry.
• Partner with and provide subject matter expertise to Senior Compliance Consultants, a Team Advisor, or a Manager on regulatory matters and small-to-medium-scope complaints initiated by regulatory agencies or clients; investigate and prepare responses as assigned.
• Attend compliance-related meetings and present information as assigned; conduct internal and agent investigations when necessary, and conduct customer surveys when required for projects.
• Assist compliance senior management in developing and implementing policies, procedures, and controls; reviewing compliance processes and operations; ensuring corrective actions are implemented; managing projects; and developing systems to automate processes and improve efficiency.
• Maintain relationships with internal and external customers by handling work professionally and on time; collaborate and negotiate with state regulators, foster relationships with state insurance department personnel, and address decisions, disagreements, or concerns diplomatically.
• Research and resolve Red Flag issues.
• Communicate and train appropriate employees on new Life and Annuity laws and regulations.
• Document, update, and monitor the Legislative Briefing Database.
• Serve as a subject matter expert for the field compliance manual and/or advertising guidelines; notify the manager of needed changes and help provide updates to business partners at least annually.
• Ensure compliance-related procedures are documented and categorized in a compliance-manual format.
• Maintain files and participate in the review, data collection, data testing, and response to Market Conduct Exams.
• Embrace Sammons Financial Group Companies’ shared values of Accountability, Connection, Openness, Respect, and Integrity.
• Maintain regular attendance and punctuality in accordance with company policy.
• Participate in other initiatives and projects as necessary.

Benefits

• Medical, dental, vision, HSA and FSA options, and term life insurance coverage for employees and their families.
• Performance-based incentive program tied to clear goals and individual and/or company success.
• 100% company-funded Employee Stock Ownership Plan (ESOP) and automatic enrollment in a 401(k).
• Friday afternoons off year-round, generous paid time off, and paid holidays.
• Paid development time, tuition reimbursement, and professional development opportunities.
• Volunteer time off and a company nonprofit matching gift program.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed