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Life Insurance & Annuity Compliance Officer Job

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Life Insurance & Annuity Compliance Officer
Job# 2783
Location:  TX
Education Requirements:  Juris Doctorate degree preferred.
Other Requirements:  Include:

  • 10+ years regulatory and operations compliance experience in the individual Life and Annuity insurance markets.
  • Demonstrated track record handling consumer complaints and communicating with state departments of insurance.
  • Direct hands-on experience with the UCAA and SERFF systems.
  • LOMA or other insurance home office training designations preferred.
  • Experience with IMO/Broker/Agent contracting preferred.

Salary Range:  Negotiable DOE
Description:  Our Client, a growing Life insurance and Annuity company, seeks an experienced Life & Annuity Compliance Officer capable of autonomously performing a wide range of home office compliance functions.  The company’s success has stemmed from an emphasis on personal service to its policyholders.  Our Client has embarked upon a comprehensive shift in strategy based upon digital marketing, new business contracting, and expansion to nearby states.  They also provide Third-Party-Administration services to a small number of insurers.  Well-qualified candidates would exhibit substantial experience in these key areas within the Individual Life insurance and Fixed Annuity markets:

  • Company policy/miscellaneous form filing:
    • Ensure company filings and form filing submissions are completed in a timely fashion and in compliance with state insurance regulations.
    • Ensure use of interstate compact regulations, SERFF system, and UCAA systems are fully utilized when doing company filings and form filing submissions.
  • Operations Audits (where required):
    • Ensure company operations of TPAs/Reinsurers are in compliance with state regulations and create and file any associated documents as required by regulators or auditors.
  • Monitor regulation changes:
    • Monitor and implement any regulatory changes that may affect the company.
    • Ensure affected operations areas are in compliance with new requirements.
    • Report to regulators of changes in company operations or personnel.
  • Review and approve advertising:
    • Ensure that advertising meets state and federal guidelines.
    • Ability to communicate with independent agents on required changes.
  • Respond to complaints and litigation:
    • This includes department of insurance complaints.
    • Serve as the corporate contact for all matters related to complaints and litigation.
    • Responsible for the creation and oversight of the complaint log.
  • Market Conduct:
    • For exams serve as a liaison between state insurance examiners and the company.
    • Respond to all requests and respond to the draft and final reports.
    • Ensure any deficiencies in the operations areas are corrected.
    • Responsible for filing Market Conduct Annual Reports for company and TPA’s, when required.
  • Corporate Records maintenance:
    • Creating, filing, and ensuring that all required corporate filings related to normal insurance company operations are completed in a timely fashion.
  • Claims/Rescission coordination:
    • Participate in reviewing life insurance contestable claims, carefully considering all relevant facts and providing expertise in the area of determining material misrepresentation, fraud, intent to deceive, and causal connection requirements by state.
  • TPA/CEO License Renewals, Annual Reports, SOS Annual Reports and Registration.
  • Holding Company Reporting Form B, Form C and Form F.
  • Texas Department of Banking Annual Reports, Permit Renewals.
  • Assist with Compliance-Related Issues related to Texas Department of Insurance and Texas Department of Banking Exams.
  • Maintain Company Compliance Calendar.
  • Notarize Corporate Documents.
  • Digital Services Compliance:
    • Review and provide content regarding required disclosure and consent language related to company electronic processing or company Social Media Sites.
  • Contracts and Agreements:
    • Participate in generation or review of company contracts and agreements related to vendors, consultants, reinsurers, TPA clients, leases and other business relationships.

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