Compliance Analyst (Paralegal)

Summary: Requires strong research and analytical skills to handle compliance responsibilities relating to updates to laws and regulations agent conduct, member inquiries, preparing compliance audits, gathering market conduct data, and investigating suspected fraud. Must be comfortable using and learning new technologies.

Essential Duties and Responsibilities:

• Under the guidance of Deputy General Counsel and/or the Compliance Manager reviews consumer complaints, compliance reference files, and agent conduct issues to compile relevant information, determine appropriate course of conduct and, as appropriate. make recommendations for action as applicable. Manages files in accordance with department standards such as Legal Files, SharePoint, LifePro, Perceptive, or other programs necessary for managing compliance. 
• Primarily responsible for handling detailed member inquiries, preparing and composing letters; all requiring knowledge of life insurance, products, and application files.
• Provides support to Compliance Specialist with respect to agent terminations, agent investigation reports to impacted departments of insurance, oversees mailings to ensure timeline are appropriately met. 
• Assist Compliance Specialists with suspected fraud investigations by reviewing agent files, certificateholder files and other documentation to identify trends. Manage follow-up inquiries from outside regulatory bodies.
• Creates or maintains database of information including replacements, complaints, incompletes, lapses, and new member surveys. Creates reports from databases, summarizes the reports, and makes recommendations to the Compliance Manager or other Compliance Specialists.
• Works with Compliance team in assuring compliance with state and federal regulations. May coordinate follow-up with impacted departments for implementation of new processes when required by statute or regulation including written plans outlining required changes and timelines for compliance.
• With assistance from the Compliance Manager, will initiate regulatory and some product filings with the ICC. May test products including contracts, riders, applications, cost and benefit, annual reports, state specific forms, and other supporting documents including integration and regression testing.
• Gathers and compiles information sought for market conduct exams and provides response recommendations to Compliance Manager. Provide updates to Compliance Manger regarding status of remediation efforts undertaken by operations teams.
• If qualified, provides additional support of paralegal function in Legal/Compliance Department.
• Other duties as assigned.

Supervisory Responsibilities:

This job has no supervisory responsibilities.

Qualifications: 

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

Education and/or Experience:

Associate degree in paralegal studies or three to five years related experience or training. 

Certificates, Licenses, Designations, Registrations: 

Successful completion of the Life Office Management Association (LOMA) certifications and designations: FLMI Level I Certificate, required; and Associate, Customer Service (ACS), preferred. Associate Insurance Regulatory Compliance (AIRC) preferred or within one year of starting position. Paralegal certification or relevant experience. 

Core Competencies: 

To perform the job successfully, an individual should demonstrate the following core competencies: Communicates Clearly and Effectively; Achieves Results; Builds Partnerships; Thinks Strategically; and Adapts to and Promotes Change.

Technical Competencies:

Research, analysis, investigations; working knowledge of state and federal insurance regulations, project management, customer service, audit preparation, vendor relationship management, document drafting.

Mathematical Skills: Ability to calculate figures and amounts such as interest, commissions, proportions, percentages, area, circumference, and volume. Ability to apply concepts of basic algebra and geometry.

Computer Skills: To perform this job successfully, an individual should have knowledge of database software; Internet software, Westlaw; Microsoft Excel, Word, and Outlook. Individual should quickly grasp new technologies and processes in order to complete tasks.

Industry Competencies:

Life insurance and annuities - compliance and regulations. Insurance background and knowledge of insurance laws and regulations. Understanding and ability to utilize company policy systems in order to generate reports. Knowledge of industry standards.

Language Skills:

Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write reports, business correspondence, and procedure manuals. Ability to effectively present information and respond to questions from groups of managers, members, customers, and the general public.

Reasoning Ability:

Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.

Physical Demands: 

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is frequently required to stand; walk; sit; use hands to finger, handle, or feel; and talk or hear. The employees must frequently lift and/or move up to ten pounds.

Work Environment: 

This position offers a hybrid work environment, allowing flexibility to work both from home and in the office. In-office work may vary based on business needs. While the exact frequency of in-office work is subject to change, the role requires adaptability to meet the evolving demands of the business area. The noise level in the office is moderate, providing a comfortable environment for focused work. The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable on-site accommodation may be made to enable individuals with disabilities to perform the essential functions. The organization values work-life balance and strives to maintain a flexible and collaborative environment for all employees.

The candidate's starting pay will fall within the salary range provided and is determined based on job-related factors, including, but not limited to, the experience; qualifications, licensure and certifications; knowledge; skills; business and organizational needs; and market conditions. Candidates with the minimum necessary experience, qualifications, knowledge, and skillsets for the position should not expect to receive the upper end of the pay range. It is not typical for an individual to be hired at or near the top of the range for their role and compensation decisions are dependent on the facts and circumstances of each case.

We offer a comprehensive package of benefits including paid time off, health and dental insurance, and 401(k) to eligible employees. You can find more about our benefits at: https://flimp.live/RNAbenefitshowcase

Additionally, this position is incentive eligible with a target based on company performance, and/or individual results achieved; the specific incentive plan and target amount will be determined on the role.

The date of the posting can be found on Royal Neighbors of America's career page at the top of each job posting.