Compliance Specialist

Job Responsibilities and Requirements

Job Summary:

Responsible for assisting in the design of new or revised products in accordance with the intent of Underwriting, Claims, Administration, Actuarial, and Sales Departments, filing with insurance departments, and negotiating approvals of such filing. Responsible for all the necessary actions to bring assigned product lines into compliance with state and federal legislation at time of filing and on an ongoing basis. Provides guidance to the field and other departments throughout the company. Responsible for all necessary actions to assure that policies can be produced on a compliant basis through the Calligo policy issue system. 

Duties and Responsibilities:

• In cooperation with all departments, develops ideas and concepts into a tangible product which is marketable and that can be implemented and supported by the company’s human resources, computer systems and workflows and assures the compliance of such products with all state and federal requirements.
• Prepares, with assistance from the Compliance Assistant, and formally submits all policy forms and supporting documents to the state insurance departments and negotiates approvals with such insurance departments.
• Reviews and interprets state and federal legislation to determine applicability to our products.
• Determines and implements the necessary action to bring products into compliance with legislation. Such actions include, but are not limited to, providing the proper direction to those responsible for programming the policy issue and administrative systems to bring them into compliance as well as other actions required to assure compliance .
• Reviews advertising, brochures, flyers, and other similar documents for compliance.
• Works in close cooperation with the field force to assist them in designing products for specific clients who require benefits not currently offered by RSL but that can also be effectively serviced by our administrative and claims staff.
• General compliance research on subjects such as replacement, claims requirements, etc.
• Develops and submits Change Requests to the Contract Systems Support Analysts reflecting required specifications for programming policy contracts in Calligo in accordance with current state approvals and/or current state legislation.
• Responsible for testing requested programming changes which have been completed by the Contract Systems Support Analysts to assure that the system produces the necessary language in all instances.
• Develops and submits Change Requests to IS programmers reflecting required specifications for programming state edits in PACS in accordance with current state approvals and/or current state legislation to assure proper feeding of compliant data from PACS to the Calligo policy issue system.
• Researches any questions from the field or other departments regarding legislation, compliance for a particular product, or benefit interpretation as well as other questions that may arise regarding our products.
• Deals directly with insurance departments and trade associations when required.
• Maintains files, logs, manuals, and online applications, etc. to document and support our products in accordance with state and federal laws.
• Communicates with other departments and coordinates and/or attends meetings to accomplish all job functions.
• Attends trade association meetings such as Society of Group Contract Analysts, Life and Health Compliance Association, and Association of Insurance Compliance Professionals when required.
• Acts as liaison among Administration, Underwriting, Claims, and the field force to negotiate the details of designing and/or tailoring products and administrative systems to specific client needs and assures that we are able to deliver what the language of especially designed benefits promise.
• All other duties as assigned.

Required Knowledge, Skills, Abilities and/or Related Experience

• High school diploma with additional course work in insurance, paralegal certificate or extensive prior experience required. College degree preferred.
• Five years business experience required. Three years experience working for an insurance company doing compliance work with individual, group, annuity or blanket insurance is preferred. 
• Excellent written and oral communication skills required.
• Excellent negotiation skills needed. 
• Must possess good judgment ability, excellent organizational skills and be able to work independently. 
• Must have an extensive knowledge of individual, annuity, group, and/or blanket insurance theory, practices, policies, forms and procedures.
• Ability to analyze and interpret state and federal legislation and able to apply it to our insurance products as well as those of other companies. 
• Ability to meet deadlines is essential.

The expected hiring range for this position is $65,010.00 - $81,270.00 annually for work performed in the primary location (Philadelphia, PA). This expected hiring range covers only base pay and excludes any other compensation components such as commissions or incentive awards. The successful candidate’s starting base pay will be based on several factors including work location, job-related skills, experience, qualifications, and market conditions. These ranges may be modified in the future.

Work location may be flexible if approved by the Company.

What We Offer

At Reliance Matrix, we believe that creating a more diverse, equitable and inclusive culture allows us to realize more of our potential. And we can’t do this without our most important asset—you.

That is why we offer a competitive pay package and a range of benefits to help team members thrive in their financial, physical, and mental wellbeing.

Our Benefits:

• An annual performance bonus for all team members
• Generous 401(k) company match that is immediately vested
• A choice of three medical plans (that include prescription drug coverage) to suit your unique needs. For High Deductible Health Plan enrollees, a company contribution to your Health Savings Account
• Multiple options for dental and vision coverage
• Company provided Life & Disability Insurance to ensure financial protection when you need it most
• Family friendly benefits including Paid Parental Leave & Adoption Assistance 
• Hybrid work arrangements for eligible roles
• Tuition Reimbursement and Continuing Professional Education
• Paid Time Off, volunteer days, community partnerships, and Employee Assistance Program
• Ability to connect with colleagues around the country through our Employee Resource Group program and our Diversity Equity & Inclusion Council

Our Values:

• Integrity
• Empowerment
• Compassion
• Collaboration
• Fun

EEO Statement

Reliance Matrix is an equal opportunity employer. We adhere to a policy of making employment decisions without regard to race, color, religion, sex, national origin, citizenship, age or disability, or any other classification or characteristic protected by federal or state law or regulation. We assure you that your opportunity for employment depends solely on your qualifications.

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