Senior Product Compliance Analyst

Brookfield Wealth Solutions, Ltd•Chicago, IL

2d•Onsite

About The Position

The Sr. Product Compliance Analyst is responsible for the development and regulatory compliance of the products offered by Farm Family as well as ensuring procedural compliance for such products. This is a 100% in-office position. Candidates must be able to work on-site at a designated company office during standard business hours.

Requirements

Bachelor’s degree in or related field, or equivalent work experience.
Ten years of experience in property/casualty/life/annuity insurance or related industry experience; Life: LOMA 7-8 Exams.
Seven years of experience with product development in insurance or a related industry.
Four or more years of compliance experience or equivalent experience in company operations.

Nice To Haves

AIRC and ALMI/FLMI designation.

Responsibilities

Develops and writes policy coverage forms and endorsements for new product development or product changes ensuring compliance with state regulations while meeting business objectives and providing competitive differences in the marketplace.
Researches, interprets and analyzes state laws and regulations, advisory opinions and bulletins, determine their impact on product offerings and/or on the company, communicates to the affected areas, develops any state-specific forms, rules or notices and coordinates any changes in procedures to ensure compliance.
Provides guidance and recommendations to Compliance & Product Development Analysts on new product development and product changes, as well as effective methods of coordinating the development and implementation with Product Managers, Project Managers, Underwriting operations, and Regulatory Compliance Analysts.
Develops communications to policyholders and agency field force explaining changes to forms and rules and any new product offerings to ensure clarity of coverage.
Coordinates with Underwriting Services and IT Services personnel on quick resolution of production problems to reduce financial or coverage impact to policyholders and/or the company.
Analyzes, researches, and responds to policy language/coverage questions from Product Managers, Underwriting, Underwriting operations, Claims and Legal; assists Compliance & Product Development team in interpreting and responding to such requests.
Mentors other Analysts by answering questions, discussing projects, reviewing their work, and assisting with issues; provides guidance on work assignments and train new Analysts.
Assist Managers with evaluating, planning and prioritizing product development projects.