Compliance Analyst (Hybrid)

Trustmark’s mission is to improve wellbeing – for everyone. It is a mission grounded in a belief in equality and born from our caring culture. It is a culture we can only realize by building trust. Trust established by ensuring associates feel respected, valued and heard. At Trustmark, you’ll work collaboratively to transform lives and help people, communities and businesses thrive. Flourish in a culture of diversity and inclusion where appreciation, mutual respect and trust are constants, not just for our customers but for ourselves. At Trustmark, we have a commitment to welcoming people, no matter their background, identity or experience, to a workplace where they feel safe being their whole, authentic selves. A workplace made up of diverse, empowered individuals that allows ideas to thrive and enables us to bring the best to our colleagues, clients and communities.

About the role

Trustmark is seeking a Compliance Analyst to join our team.

Responsible for supporting insurance product regulatory compliance initiatives, periodically working cross-functionally as assigned. Functioning with some management oversight and direction to execute on departmental initiatives and support company goals. Involves elements of insurance compliance business support, regulatory change management, and anti-fraud & AML programs. Working in concert with Compliance and Legal counterparts to support organizational goals and initiatives, providing sound regulatory compliance guidance. As directed, work with business partners to evaluate an address compliance risks and controls related to insurance compliance programs and conduct oversight testing as needed.

Key Accountabilities:

Insurance Compliance Business Support

• Product Compliance

  • With some supervision coordinate product compliance oversight and testing.

  • Develop testing plans, create testing templates, conduct sampling and reporting on testing results.

  • Design product compliance requirement matrices for product enhancements and new product developments.

  • Collaborate with business partners to design and update insurance products in compliance with applicable laws and regulations through post-launch oversight and testing.

  • With some supervision coordinate root cause analysis to address product administration issues, and coordinate with business partners to design remediation plans.

• Regulatory Change Management

  • Manage assigned regulatory updates in RCM tool, assigning tasks to business stakeholders for implementation.

  • Consult with business partners, helping to assess the impact on business processes and answering questions, enabling them to develop and implement action plans.

  • Partner with business to develop appropriate target implementation dates and collect evidence showing completion of the action plan.

• Advertising Review, Filings, and Oversight

  • Maintain and periodically update Advertising Guidelines.

  • Develop or refine oversight process for Advertising and Marketing materials.

  • Periodically sample and review advertising materials.

  • Deliver feedback based on review of sampled materials.

  • Prepare and deliver targeted trainings as needed.

  • File marketing materials with departments of insurance (DOI) as needed.

• Risk Assessments and Controls Testing

  • Collaborate with Compliance team members to design and scope risk assessments, and controls testing plans.

  • With some oversight/supervision lead process and controls mapping exercises with business partners.

  • With some oversight/supervision execute key controls testing, document results, and formulate initial drafts of remediation plans.

Anti-fraud & Anti-money Laundering (AML) Programs

• Support Anti-fraud program manager in overseeing all aspects of the Trustmark Anti-fraud risk program – including but not limited to risk assessments, controls testing, policy and procedure management, business consulting, annual training, targeted training, and internal fraud reporting.

• Support the AML program manager in overseeing all aspects of the Trustmark AML program – including but not limited to risk assessments, controls testing, policy and procedure management, business consulting, training, and internal AML reporting.

• Other duties as needed/assigned.

Minimum Requirements:

• Bachelor’s Degree with 2-4 years of related experience.

• Proficient in MS Office products and ability to learn software applications

• Knowledge of the insurance regulatory environment

• Strong critical thinking and analytical skills.

• Experience researching and applying findings.

• Strong written and verbal communication skills.

• Experience collaborating cross functionally.

• Strong time management skills with ability to self-regulate workload to meet project milestones and deadlines.

Preferred:

• Legal education (JD or paralegal certificate).

• CFE, ACAMS, or other applicable certifications or designations.

• Data analytics experience.

• Experience working in a legal, audit, compliance, or risk function in the insurance industry, preferably with a focus on health or disability products.

• Risk and control assessment and testing experience, including use of Governance, Risk and Compliance tools.

• Regulatory change management process experience, including use of RCM tools.

The compensation range for this role is (based on the corporate location in Lake Forest, Illinois):

$61,412.00 - $88,706.00 per year

The final salary offer will be determined based on factors such as location, qualifications, experience, skill set, and other relevant factors. This position may also be eligible for bonus. We understand that compensation is an important factor when considering a new opportunity, and we strive to provide a competitive salary within the market.

Brand: Trustmark

In addition to compensation, we offer a comprehensive benefits package that includes: Health/dental/vision, life insurance, FSA and HSA, 401(k) plan, Employee Assistant Program, Back-up Care for Children, Adults and Elders and many health and wellness initiatives. We also offer a Wellness program that enables employees to participate in health initiatives to reduce their insurance premiums.  For questions about compensation and benefits, please speak to the Recruiter if you decide to apply and are selected for an interview.

Trustmark is committed to leveraging the talent of a diverse workforce to create great opportunities for our people and our business.  We are an equal opportunity employer, including disability and protected veteran status.