Senior Variable Compliance Consultant

Senior Variable Compliance Consultant, job available! Our Client offers some of today’s most sought after life insurance, annuity, and retirement planning products. Our highly rated Financial Group Client is looking for a Senior Variable Compliance Consultant to join their stellar team! Above all, pursue a career with meaning and purpose. Furthermore, accountable for the activities that support variable product compliance. This regards corporate objectives, regulatory authorities and state/federal insurance laws for Variable Life and Variable Annuity products.

Lead and manage the variable insurance product advertising review process for our Client. Provide support to the 38a-1 Chief Compliance Officer (CCO) in the conducting on-site reviews of the business units pursuant to SEC Rule 38a-1. Salary is $80-100k negotiable DOE. Our Client offers the ability for in-office, hybrid and remote work arrangements. Apply now for this excellent Senior Variable Compliance Consultant job by clicking on the Apply Now button above! This is Job 2926.

Responsibilities

Responsible for all aspects of the regulatory requirements governing communications with the public concerning the variable insurance products offered by our Client. This is including but not limited to specific items listed below.

  • Act as Registered Principal for conducting Variable Life and Variable Annuity advertising reviews on behalf of our Client and their affiliated broker/dealer. Ensure that the content is accurate, complete and in compliance with the current standards communicated by FINRA, SEC and state insurance departments regarding communications with the public.
  • Furthermore, serve as a liaison between our Client and the CCO of the Client’s affiliated broker/dealer. Develop, implement, communicate and maintain written policies and procedures. This for the review of all advertising, recruiting and sales literature used in connection with the marketing and sales of variable insurance products.
  • Also, work with the business units to ensure the accuracy of all performance calculations and product information used in all advertising and sales literature.
  • Oversee the filing of approved material when required. Maintain all comments letters received from FINRA.
  • Also, act as a liaison between our Client and the analyst assigned by FINRA Advertising Regulation to facilitate their review.
  • Communicate changes required to address FINRA comments to the appropriate business units.
  • In addition, serve as an internal compliance advisor. This is on regulatory and administrative issues, and a liaison between our Client and FINA, the SEC, independent public auditors, and outside legal counsel.
  • Maintain advertising review files and FINRA comment letters for the required time period and in accordance with SEC recordkeeping requirements.
  • Provide files to regulators and examiners upon request. Spot check advertising review files for completeness and timeliness of filings.
  • Work with registered representatives and Regional Sales Directors (RSDs) to ensure that any advertising they develop is reviewed, filed (when required) and approved prior to use.

Additional Responsibilities

  • Provide support to the 38a-1 CCO in meeting the requirements established under SEC Rule 38a-1 as they apply to established separate accounts where our Client is named as the depositor.
  • Also, review written policies and procedures established by each business unit. This is to help ensure that they are reasonably designed to detect, prevent and correct instances of non-compliance.
  • Review reports, including exception reports, used by the business unit as controls to help ensure compliance with applicable rules and regulations.
  • Conduct policy file reviews.
  • Test established controls to ensure that they are effective.
  • Provide support to the Variable Compliance Team by assisting in the preparation and filing of registration statements for the established separate accounts where our Client is named as the depositor when necessary.
  • Furthermore, oversee the process of obtaining approval from the underlying funds when required.
  • Conduct desk audits as assigned to ensure that written procedures have been implemented and are being followed.
  • Monitor, evaluate and summarize requirements imposed by new or revised federal or state legislation that impacts variable operations and/or variable products.
  • Determine and communicate new requirements and their impact to the appropriate Business Units, coordinating discussions to resolve any related issues and verifying ultimate compliance.
  • Participate in special projects to ensure that corporate initiatives are successfully completed.

Requirements

  • 7-10 years experience dealing with compliance and variable products in an insurance environment preferred.
  • Most noteworthy, 38a-1 experience is a must.
  • Minimum 5 years’ Analytical abilities similar to those of a paralegal with experience preferred.
  • Series License-7 or ability to obtain within 1 Year required.
  • Series License-24 or ability to obtain within 1 Year required.
  • NASD licensed or ability to obtain within 1 Year required.
  • In addition, solid knowledge of Variable Life and Variable Annuity products and insurance company operations.
  • Solid knowledge of securities regulations (state, federal and FINRA) impacting Variable Life and Variable Annuity products.
  • Working knowledge of model insurance laws and associated model regulations.
  • Must have excellent communication skills and can work with different personality types (regulators, registered representatives heads of the business units, etc.) when communicating requirements, revisions and approvals/rejections.
  • Ability to coordinate the compliance function with related activities of other areas of the organization and serve as a consultant for compliance issues relating to specified areas of responsibility.
  • Furthermore, possess good project management skills able to work independent of supervision to ensure that the variable product advertising review process runs smoothly day-to-day.
  • Ability to utilize PC administrative tools (e.g., Microsoft Office – Word, Excel, Access).

Additional Requirements

  • Understanding of the federal and state rules governing communications with the public.
  • Also, understanding of the electronic filing system used by FINRA for submission of advertising reviews.
  • Understanding of the requirements under SEC Rule 38a-1 as it applies to our Client’s registered separate accounts.
  • Ability to understand intricate rules and regulations and communicate them to different audiences.
  • Detailed-oriented, with solid organizational abilities.
  • In addition, ability to be a team player by demonstrating flexibility, understanding of other positions, providing constructive and relevant input to discussions.
  • Exhibit ability to build and maintain ongoing key relationships with regulatory personnel as well as industry contacts and business partners.
  • Furthermore, strong work ethic.
  • Criminal background check required.

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