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Forrest T. Jones & Company · 1 day ago

Compliance Counsel

Kansas City, MO

Full-time

Onsite

Senior Level

7+ years exp

Forrest T. Jones & Company is seeking a Compliance Counsel responsible for overseeing compliance activities across all states where the company operates. The role involves managing compliance direction for legal professionals, monitoring regulatory changes, and ensuring compliance with insurance products and services.

Financial ServicesInsuranceMarketing

Responsibilities

Developing a comprehensive understanding of the Compliance Department operations

Managing and overseeing compliance activities for all states in which the company operates

Providing compliance direction to licensed attorneys and other legal professionals

Identifying and implementing new compliance requirements as they arise

Maintaining FSL’s regulatory compliance for its insurance products and services sold through appropriately licensed agents and administrators

Performing legislative reviews and monitoring of all laws and regulatory changes that impact compliance and procedures for the products and services provided by FSL/FTJ and its affiliates

Maintaining AML procedures, coordinating with accounting, claims and customer service departments, agent communications including standards of payment, red flags, producer's guide, verification of prior AML training, coordination with human resources department for the AML training for home office personnel, and coordination of annual AML testing requirements

Assuring AML compliance of individual cash value life and annuity products, periodic review and update of corporate AML policy and procedures, coordination of annual AML testing with corporate Audit, as well as coordination and documentation of periodic SDN and FinCEN searches with IT department

Researching and updating SPMs to incorporate legislative changes

Drafting and coordinating distribution of compliance bulletins

Assisting marketing and product control in the evaluation of new products/ideas and identifying regulatory and filing issues that may impact the programs

Providing legal support and assistance to marketing and product control for new product analysis and development, and contracts department for existing product updates, new product contract drafting and project implementation, and objections on product filings

Reviewing and recommending updates to NAIC Best Interest Annuity Suitability and related state Supervision System including: Procedures to inform producers of the Best Interest rules requirements; Producer training manuals/materials/ and communications; Product specific promotional materials and agent training; New business process to assure all applicable forms and suitability review completed prior to issue; Procedures to review recommendations; Annual reporting to states and senior management

Assisting marketing department with developing agent training, client presentations and advanced markets sales concepts, advertising and website review, and recommendations and approval for regulatory compliance

Providing assistance to the contracts department when requested

Monitoring and communicating changes to policy form and rate filing requirements and procedures in the various states

Researching and responding to claims questions regarding mandated benefits, prompt pay statutes, interest, subrogation, etc

Reviewing and evaluating market conduct issues when requested

Providing legal support and guidance regarding Life Underwriting developments including genetic information, AIDs, Search Engines; NAIC Lost Policyholder reporting; Life Claims questions related to prompt pay, interest, child support, rescissions; Licensing appointment, policies and procedures, controls and producer oversight; Assisting with Periodic Reporting

Qualification

Compliance ManagementRegulatory ComplianceLegal SupportAnti-Money LaunderingProduct EvaluationLife Insurance ComplianceManagement SkillsAnalytical SkillsCommunication SkillsProblem-Solving SkillsOrganizational SkillsInterpersonal SkillsOral Presentation Skills