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Establish and modify rules and procedures related to market conduct and compliance. Direct related activities of the Baltimore Life Insurance Company and integrate compliance functions throughout the organization, so as to assure product and producer compliance with insurance regulations and laws as well as Company rules and guidelines.
Note that although this position is part of the Risk Management department which reports up to the General Counsel, it is not a part of the legal department (ie. the candidate will provide Compliance/Risk and not Legal opinions).
EDUCATION and EXPERIENCE:
BA, BS and 10 years of life insurance compliance work, and at least 5 years in a management role. Law degree and admission anywhere is a plus, but not required. Advanced industry designation such as CLU and/or FLMI helpful.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Manage compliance staff, assuring resources are used in a way that supports corporate objectives.
Interpret new and existing laws and regulations and form recommendations for compliance in ways that are appropriate for Baltimore Life.
The candidate will have significant experience with the compliance issues associated with traditional life insurance products (eg. for life and fixed annuities).
Communicate the impact of new laws and regulations and oversee change management when policies and procedures require revision.
Develop, implement and maintain Company policies and procedures related to Market Conduct and Compliance.
Provide training and support to business units to assure company practices comply with laws, regulations and Company rules.
Oversee the compliance audit program and monitor related corrective action activities.
Manage market conduct exam activities.
Maintain an active presence in appropriate industry associations to stay informed of changes in the marketplace, to network, and to stay abreast of best practices.
Experience with SERFF and product filing and development a plus.
Additional Salary Information: There is also an annual bonus depending upon Company and personal performance.
About Baltimore Life Insurance Company
A 135 year-old private life insurance company located in the Baltimore suburbs that sells traditional life insurance products to middle America.