VP, Compliance Officer

Chubb•Portland, ME

About The Position

Chubb Benefits is a leading provider of individual accident, disability, health and life insurance products. Chubb is one of the world’s largest publicly traded property and casualty insurers. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ABOUT THE NORTH AMERICA LEGAL AND COMPLIANCE TEAM: We seek highly motivated individuals to join our team who exhibit the best-in-class competencies listed below and embody the NA Legal and Compliance culture. We deliver high quality work product, services and solutions that demonstrate understanding of the needs and requirements of our business partners and support achievement of team goals. We adapt to changing business needs and environments through a proactive, flexible approach that achieves results and strikes the proper balance among all constituencies. We demonstrate character, integrity and professionalism, both within a team environment in Legal and Compliance and in fulfilling our responsibilities to our business partners. We build collaborative, trusting relationships with team members and business partners through superior communication skills, empathy and respect. We independently manage work responsibilities through commitment, dedication and accountability, and display an on-going commitment to self-improvement. KEY OBJECTIVE: The Vice President, Compliance is responsible for supporting the Chief Compliance Officer in overseeing the regulatory compliance function at Combined Insurance. The Vice President, Compliance will lead the development and maintenance of an effective regulatory compliance program by establishing compliance standards, promoting awareness of compliance issues, and implementing controls to monitor and prevent compliance deficiencies. The Vice President, Compliance serves as a primary point of contact for market conduct, exam facilitation, and regulatory inquiries and reporting. This individual will report directly to the Chief Compliance Officer.

Requirements

10-15 years of insurance industry experience, preferably in the areas of accident and health related products.
Bachelors degree or equivalent experience, J.D. or professional designations related to insurance regulatory compliance strongly preferred.
Demonstrated understanding of the insurance regulatory environment including HIPAA, GLBA, and other applicable regulations.
Strong analytical and technical skills in using data analytics to review audit results and data and understand “root causes” of compliance deficiencies and effectiveness of controls.
Demonstrated ability to develop relationships.
Ability to consistently execute and deliver results.
Ability to manage multiple projects in a dynamic development environment.
Strong knowledge of MS Project, Excel, PowerPoint Word; and legal/compliance research tools.

Responsibilities

Develop and execute the compliance strategy.
In coordination with the Legal Department, assist the business in complying with regulatory requirements related to the marketing and distribution of Chubb Benefits products.
Tracking, analyzing and providing business guidance on compliance matters related to insurance regulation.
Manage routine and escalated regulatory interactions, examinations, and communications including tracking of remediation of regulatory findings.
Assist the business with compliance with third party requirements, implementation of regulatory requirements, policies, and controls, and working with Compliance and business staff to establish remediation plans for audit findings.
Maintain knowledge of applicable regulatory requirements including upcoming regulatory changes and provide timely guidance of state and federal regulatory changes in coordination with Legal.
Provide oversight and support for consumer complaint handling, legislative monitoring and implementation.
Develop and maintain relationships with, and provide timely guidance and advice to, business partners.
Lead the Compliance response to regulators on exam findings, regulatory inquiries and investigations.
Assist in the facilitation of regulatory inquiries, complaints, and examinations.
Partner with applicable business units to ensure that compliance guidance is implemented, action plans are completed timely, and that proper controls are in place and effective.
Oversee and advise on effective controls related to the monitoring of third parties.
Conduct trending analysis using data analytics and other reporting mechanisms to identify potential issues.
Report and escalate compliance issues and developments as required.
Assisting the CCO in compliance reporting requirements to various stakeholders.