Verification Control Specialist

Penn Mutual•Philadelphia, PA

10d•$60,000 - $75,000

About The Position

The Verification Control Specialist is a critical role focused on identifying and mitigating financial risks within Penn Mutual and its affiliates. This position involves monitoring operational risks, ensuring adherence to internal controls and protection protocols, and upholding guidelines set by Ethics and Compliance, Risk, and Quality Assurance. The ideal candidate will have a strong grasp of control measures, internal audit, administrative processes, and workflow systems. This role also contributes to fraud discovery and trend identification.

Requirements

H.S. Diploma or Equivalent Required
3-5 Years operational risk management background (including current state/future-state assessments, business process redesign, and target operating models)
Experience with projects involving the design or operation of elements of the risk management life cycle (including risk identification and profiling, risk assessment and measurement, risk metrics and monitoring or control testing) in the Insurance, or wealth and asset management industries.
Deep understanding of life insurance/annuity and security products in order to conduct in depth and extensive research on accounts
Experience working with or familiarity with data, analytics and risk technology solutions (e.g. LexisNexis)
Risk management mindset; proactively anticipate issues and developing potential effective solutions
Demonstrates a strong ability to work within a team, values diverse perspectives, open communication and an environment of shared success
Proactive; self-starter, capable of managing multiple tasks efficiently and producing high-quality work independently
Strong communication skills, with the ability to articulate complex insurance and risk management concepts clearly to diverse audiences
Ability to complete a full analysis of correspondence, such as statements to identify any inconsistencies or impacts to the policy/contract
Ability to work cross-functionally as the business dictates
Execute with urgency and professionalism
Ability to navigate multiple systems and resources
Excellent analytical and organizational skills with attention to details
Proven ability to share knowledge and mentor others
Ability to make a positive contribution as demonstrated by learning new skills and making suggestions for process/procedure improvement
Champion the adoption and implementation of innovative tools and technologies, with particular emphasis on AI capabilities such as Microsoft Copilot

Nice To Haves

Bachelor's Degree in Finance, Accounting, Business, Economics or a related field Preferred
LOMA Designation (ALMI, FLMI) Preferred
FINRA Series 6 Preferred
FINRA 26 Preferred

Responsibilities

Serve as a subject matter expert for transaction processing and documentation, handling critical financial and non-financial transaction requests using workflow, imaging, and processing systems.
Analyze inbound requests to ensure compliance with financial and non-financial control guidelines.
Review phone and/or form requests, applying judgment and expertise based on established procedures and regulatory rules.
Identify processes needed to adapt to changing external factors, including security, evolving customer expectations, and the regulatory environment.
Build case collateral and present status updates on Verification Controls to senior operations leaders, compliance, and internal business partners, maintaining supporting documents.
Handle complex and/or critical inbound verification calls from internal partners.
Partner with Contact Center and Special Investigations Unit regarding fraudulent events, assessing risks and controls, and recommending mitigation strategies.
Collaborate with Financial Professionals (FPs) and Distribution partners to gather detail and build case and transaction history.
Leverage critical thinking skills to recommend potential solutions.
Adopt AI tools and solutions to enhance operations and productivity.
Adhere to the company’s framework of internal controls.
Identify, recommend, and facilitate ongoing process and training improvements.
Comply with all company and site policies and procedures.
Remain current in profession and industry trends.