Senior Compliance Analyst - Life & Health Insurance Fraud Investigations - Hybrid

Transamerica•Cedar Rapids, IA

1d•$75,000 - $85,000•Hybrid

About The Position

Helps to mitigate legal exposure, insurance and claims fraud risks to the organization by enforcing company policies, procedures and regulatory requirements. Possesses and applies broad knowledge of concepts and principles; performs multiple moderate to complex suspicious claims investigations to determine if fraud can be substantiated and claim payments should be paid or denied.

Requirements

Bachelor’s degree in business, marketing, pre-law or other relevant field, or equivalent education and experience.
Four years of insurance experience or regulatory, securities, compliance experience.
Areas of experience desired may vary based upon assigned compliance functions and may include contract development, claims, underwriting, legal research, fraud or anti-money laundering investigations and/or communications.
Written and verbal communication skills.
Analytical and research skills.
Proficiency using MS Office tools.

Nice To Haves

Experience with insurance products
Experience with investigating potential insurance fraud

Responsibilities

Responsible for investigating and analyzing multiple moderate to complex investigations that have been referred to the Financial Crimes Unit (FCU) for potential fraud, including investigating potential fraudulent activity committed by insurance agents.
Performs a thorough investigation including; (1) quickly gathering and analyzing the facts, (2) assessing the associated risks; and (3) providing prompt conclusions and recommendations to management.
Utilizes data analytic tools to identify moderately complex and occasionally complex claims for investigation and/or for support in the evidence of the fraud
Reviews the facts of a case and works with Management team to determine if there is potential application fraud, if claim payments should be paid or denied, if fraud can be substantiated and supports a lawsuit or state fraud filing.
Review current policies and procedures; identify and help to implement new and/or enhanced practices.
Works independently, prioritizing own responsibilities, and managing own workload.
Assist in responding to regulatory inquiries with direction from senior levels.
Collaborate with business partners to gather facts and educate them on red flags and controls to mitigate fraud risks.
Foster a culture of compliance to help prevent, detect and reduce company risk with respect to financial crime.
Assist team members with research and assigned tasks and provide training to supported teams.

Benefits

Compensation Benefits
Competitive Pay
Bonus for Eligible Employees
Benefits Package
Pension Plan
401k Match
Employee Stock Purchase Plan
Tuition Reimbursement
Disability Insurance
Medical Insurance
Dental Insurance
Vision Insurance
Employee Discounts
Career Training & Development Opportunities
Health and Work/Life Balance Benefits
Paid Time Off starting at 160 hours annually for employees in their first year of service.
Ten (10) paid holidays per year (typically mirroring the New York Stock Exchange (NYSE) holidays).
Be Well Company holistic wellness program, which includes Wellness Coaching and Reward Dollars
Parental Leave – fifteen (15) days of paid parental leave per calendar year to eligible employees with at least one year of service at the time of birth, placement of an adopted child, or placement of a foster care child.
Adoption Assistance
Employee Assistance Program
Back-Up Care Program
PTO for Volunteer Hours
Employee Matching Gifts Program
Employee Resource Groups
Inclusion and Diversity Programs
Employee Recognition Program
Referral Bonus Programs