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Compliance Specialist

Job Description

Compliance Specialist

Job Overview

Reporting to the Compliance Manager, the Compliance Specialist will have responsibilities for compliance activities supporting the ABIC, ABLAC and ASCI business lines.  Primary accountabilities:  conduct distribution oversight activities , monitor legislative and regulatory developments, regulatory filings and correspondence, research and analysis of all licensing requirements and providing the Compliance Administrator with licensing guidance and support on day to day licensing functions, facilitation of Compliance’s Outsourcing Arrangements oversight program, Compliance training program oversight, data analytics, Anti-Money Laundering/Anti-Terrorist Financing,  marketing/other collateral reviews for applicable business lines, and ensure all corporate filings and registrations are completed on a timely basis. The Compliance Specialist will also be expected to draft policies and procedures, contribute to Compliance Reports to the Chief Agent and senior management, perform market conduct reviews/monitoring, handle records retention inquiries, provide assistance to the Senior Compliance Specialist in regard to Regulatory Compliance Management risk-based activities, Operations compliance, Complaint Handling, Privacy matters and assist with other compliance initiatives/activities as directed.

Job Responsibilities

Conduct distribution oversight activities (15%)

  • Be knowledgeable of regulatory developments, requirements, and principles of treating customers fairly
  • Track and analyze customer experience and distributor activities data to identify trends indicative of increased risk  
  • Implement monitoring activities tailored to key Client customer impacting activities – inform effort by integrating with data analytics to support a risk-based approach  
  • Draft reporting of distribution oversight activities

Monitor legislative and regulatory developments (5%)

  • Document and communicate legislative and regulatory developments pertinent to the company’s business lines
  • Facilitate the necessary business changes required to comply with legislative and regulatory developments

Anti-Money Laundering/Anti-Terrorist Financing (10%)

  • Conduct annual AML/ATF risk assessment, produce draft report and oversee gap remediation efforts
  • Create and update policies and procedures as required 
  • Act as a resource for and back-up to the Compliance Administrator on all monthly ATF activities
  • Facilitate and provide support for the required bi-annual, independent controls effectiveness audit by Internal Audit Services 
  • Conduct investigations and report on identified matches
  • Assist the Senior Director with the reporting of Anti-Money Laundering activities and confirmed Terrorist Property
  • Responsible for reviewing outcomes provided daily by third-party monitoring platform

 Licensing, Regulatory filings/correspondence, Corporate registrations (25%)

  • Research and analysis of all licensing requirements
  • Guide, support and back-up the Compliance Administrator with day-to-day licensing functions to ensure compliance
  • Take lead on interactions with external regulatory staff on licensing matters and escalate areas of concern to the Senior Director
  • Work closely with Business/Account Executives to ensure all licensing interactions with Clients run smoothly   
  • Ensure all regulatory and corporate filings and registrations respectively are completed in a timely manner 

Compliance Outsourcing Arrangements oversight program (10%)

  • Assist Senior Director with annual compliance outsourcing arrangements attestation
  • Annual Third-Party Vendor Compliance Manual - work with the business to update training materials and facilitate for completion the compliance attestation from all selected vendors
  • Provide business with day-to-day support      

Compliance training program oversight (10%)

  • Review, update, or draft (new) local modules annually  
  • Work closely with the Compliance Manager to ensure all active employees successfully complete all mandatory compliance training modules
  • Ensure training completion reconciliations are conducted as needed to ensure 100% completion
  • Responsible for Compliance Training Awareness Program and reporting to executive/senior management locally, internationally and corporately

Marketing/Other Collateral Reviews (15%)

  • Perform independent Compliance reviews for applicable business lines/projects
  • Work closely with business/account executives to ensure all customer facing material/client facing material is relevant and meets fair treatment of customers and compliance standards i.e., marketing material, client training, scripting, etc.

Other (10%)

  • Handle records retention inquiries
  • Provide assistance to the Senior Compliance Specialist in regard to Regulatory Compliance Management risk-based activities, Operations compliance, Complaint Handling and Privacy matters
  • Draft policies and procedures
  • Contribute to Compliance Reports to the Chief Agent and senior management
  • Assist with other compliance initiatives/activities as directed  

Qualifications

Education:

  • University degree or equivalent post-secondary academic background

Experience:

  • 3+ years of experience in compliance, risk, quality assurance or similar role    
  • 3+ years of experience within a financial institution, insurance preferred

Knowledge of:

  • Regulators and the regulatory environment for financial services
  • Federal and provincial insurance acts and regulations including insurance licensing preferred
  • Proceeds of Crime and Terrorist Financing Act, Regulations, Guidelines 

Corporate requirements of a financial institution an asset

Preferred Experience & Skills :

  • Ability to track and analyze data/information effectively for trending and risk identification purposes
  • Strong communicator both verbally and in written form
  • Capable of drafting policies and procedures
  • Demonstrated organizational and prioritization skills
  • Ability to conduct effective legislative research   
  • Adept at software such as MS Office
  • Demonstrated client service mentality
  • Adept at creating reference tools and checklists
  • Self-learner with a propensity to share knowledge
  • Team player, independent worker, relationship builder
  • Capable multi-tasker

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We work with the world’s top brands to make smart devices simpler. Vehicles last longer. Homes more secure. Problems easier to solve. And we volunteer in communities all over the globe to help the world become a greener, better place. We come from a variety of countries, cultures, and backgrounds. But we’re united by our enduring values of common sense, common decency, uncommon thinking, and uncommon results. So connect with us. Bring us your best work and your brightest ideas. And we’ll bring you a place where you can thrive. Learn more at jobs.assurant.com.

For U.S. benefit information, visit myassurantbenefits.com. For benefit information outside the U.S., please speak with your recruiter.

Our Culture Defined
Our unique culture is a big reason why talented people choose Assurant and why they tend to stay. Although we have a wide variety of skills and experiences, we share common characteristics that are uniquely Assurant. A passion for service. An ability to innovate in practical ways. And a willingness to take chances. We believe that staying on top doesn’t mean sacrificing our values. We believe clarity of vision and a sense of purpose will carry us forward. And we take charge of our own success. We call it The Assurant Way.

Company Overview
Assurant is a leading global business services company that supports, protects, and connects major consumer purchases. A Fortune 500 company with a presence in 21 countries, Assurant supports the advancement of the connected world by partnering with the world’s leading brands to develop innovative solutions and deliver an enhanced customer experience through mobile device solutions, extended service contracts, vehicle protection services, renters insurance, lender-placed insurance products, and other specialty products.

Equal Opportunity Statement
Assurant is an Equal Employment Opportunity employer and does not use or consider race, color, religion, sex, national origin, age, disability, veteran status, sexual orientation, gender identity, or any other characteristic protected by federal, state, or local law in employment decisions.

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