The Assistant Vice President (AVP) of Compliance will be responsible for the oversight and monitoring of all regulatory compliance matters affecting the Life and Health insurance company functions including but not limited to rate and form filing, agent licensing, underwriting, marketing, product development and claims. The AVP of Compliance will report directly to the Vice President, Deputy Chief Compliance Officer of Ullico's Law Department. The position is located within the Life and Health business unit in Bethesda, MD.
Principal Duties and Responsibilities:- Lead and oversee compliance activities for the Life and Health Division, ensuring adherence to applicable federal and state insurance regulations.
- Monitor regulatory developments and provide guidance on the implementation of new and revised laws, regulations, and compliance requirements.
- Serve as the primary liaison with insurance regulators and oversee regulatory examinations, inquiries, complaints, and responses.
- Direct compliance programs related to privacy, fraud prevention, advertising review, third-party oversight, and regulatory reporting.
- Provide compliance support and guidance for product development, policy administration, underwriting, claims operations, and marketing initiatives.
- Partner with Legal, Operations, Claims, Finance, Actuarial, Information Technology, and other business units to identify and address compliance risks.
- Review and advise on claims appeals, beneficiary disputes, policy forms, contracts, and other compliance-sensitive matters.
- Oversee privacy compliance activities, including HIPAA-related requirements, risk assessments, and privacy notices.
- Manage compliance staff and provide leadership, coaching, and work direction to support departmental objectives.
- Prepare and present compliance reports, metrics, and risk updates to senior leadership and governance committees.
- Conduct regulatory research and provide compliance guidance on emerging legal, operational, and business issues.
- Performs other similar and related duties as required.
MINIMUM QUALIFICATIONS:The successful candidate will have a minimum of a Bachelor's degree. A JD or Master's degree is preferred. The ideal candidate will have a minimum of 7-10 years of insurance industry experience in the group life and health insurance area with a strong regulatory compliance background. Prior insurance product experience should include Individual Life, Group Life, Accidental Death and Dismemberment, Medical Stop Loss and specialty health such as vision and dental with strong Medical Stop loss experience a plus. Staff and project management experience is a must.
$195,000 - $240,000 a year
Salary Range:$195,000 - $240,000 (depending on relevant experience, skills, and credentials). This position is eligible to participate in Ullico Inc.'s ("Ullico") annual incentive compensation program. An incentive award is contingent upon Ullico meeting financial goals set by the Ullico Board of Directors and your individual performance. The elements of the program, including eligibility, the range of potential incentive compensation, and the factors that determine the payment, will be shared with you after you become employed.
We offer a competitive starting salary and an outstanding benefits package including:
- Health/Dental/Vision
- Pension
- 401K
- Health Savings Account
- Life Insurance
- Paid Time Off
The position is located within the Life and Health business unit in Bethesda, MD.
Visit www.ullico.com
