Compliance & Filing Manager
Company: 777 Partners
Posted on: May 16, 2022
At Merit Life, we innovate best-in-class financial products that
are simple to use, easy to understand, and always put the needs of
our clients first. Established in 1957, we are a part of 777
Partners, a holding company with assets in excess of $7.5 billion.
Backed by the financial strength of 777 Partners and an A- rating
from AM Best, we create low-cost guaranteed income products that
perform powerfully in any investment portfolio and any market
Compliance Related: Establish close relationships with Merit's
holding company's legal and compliance staff to assess risks and
identify potential areas of compliance vulnerability throughout the
enterprise. Provide oversight, management, and guidance to ensure
the company's operations are conducted in compliance with ethical
business practices, company policies and legal/regulatory
Compliance Related: Provide oversight of corrective action plans
developed through business unit self-audits and/or targeted
compliance audits. Test and validate corrective actions to confirm
mitigation plans have been properly implemented and are
Filing Related: Exercise knowledge of life and annuity products,
states' certifications, and filing requirements, perform research
related to such products and filings to ensure applicable
requirements are being met, forms are drafted in a compliant
manner, and all supporting documentation is identified and
Year End and Interim period Statutory Filings-NAIC, State Specific
& Premium Tax- Work closely with the finance team, and external
resources (tax consultants, actuarial support, prior owners, etc.)
in the completion of the year end filings. Manage the work- flow
and timing for the completion of the NAIC, and State Specific
filing checklists. Ensure the filing deadlines are met, at year end
and through-out the year.
Program Management: Provide program leadership on critical legal,
compliance, and filing efforts; dive in to lead initiatives or
cross-functional work streams where needed.
Duties And Responsibilities
- Establish close relationships with Merit's holding company's
legal and compliance staff to assess risks and identify potential
areas of compliance vulnerability throughout the enterprise.
Provide oversight of corrective action plans developed through
business unit self-audits and/or targeted Compliance audits. Test
and validate corrective actions to confirm mitigation plans have
been properly implemented and are documented.
- Maintain knowledge of business and compliance challenges facing
distribution partners and other service providers and recommend
changes in business procedures needed to support each of them.
- Evaluate the effectiveness of established compliance processes
and controls and recommend and implement enhancements.
- Monitor and interpret state and federal legislation, state
bulletin/circulars and other legal and regulatory material to
determine impact to business operations and works with applicable
areas to implement necessary changes to maintain Company
- Assist with the drafting of compliance manuals, code of ethics,
business continuity plans, cybersecurity policies, etc. and review
and analyze them for required updating.
- Maintain a strong working knowledge of insurance laws and
- Identify, document processes, and oversee compliance with all
- Develop an understanding and continuously monitor regimens of
law and regulation relating to SEC, U.S. Treasury (e.g. AML),
contract owner taxation, and FINRA, as needed
- Exercise knowledge of life and annuity products, states'
certifications, and filing requirements; perform research related
to such products and filings to ensure applicable requirements are
being met, forms are drafted in a compliant manner, and all
supporting documentation is identified and completed
- Assist in gathering and preparing, timely and accurate NAIC and
State Specific filings including data calls, year end and interim
filings, premium tax filings/surveys, market conduct exams, state
examinations, internal audits, and other state mandated
- Work closely with legal and compliance team and external legal
counsel on the submission of the S-1 to the SEC Format and submit
electronic transmission of documents to the Securities and Exchange
Commission (SEC) in accordance with applicable Electronic Data
Gathering, Analysis, and Retrieval (EDGAR) Rules and Regulations
(including XBRL submissions).
- Maintain professional contact and develop relationships with
state insurance departments, the IIRPC (Interstate Insurance
Product Regulation Commission) and other insurance professionals
throughout the country.
- Receive and analyze objection letters from state insurance
examiners and coordinate responses working key stakeholders.
- Develop and create policy forms, correspondence, and
procedures; coordinating with team members to develop, coordinate,
and submit policy filing materials and work with regulators.
Analyze state insurance regulations and statutes (via circulars or
bulletins) monitoring any changes, as necessary, to respond to
state insurance examiners inquiries.
- Maintain record of regulated forms history; coordinate with and
monitor business areas to ensure proper forms are available and
- Support internal operations and third-party administrators to
ensure continued compliance of policy/contract language for all new
and in-force policies.
Program Management Related
- Provide program leadership on critical legal, compliance, and
filing efforts; dive in to lead initiatives or cross-functional
work streams where needed
- Consistently looks for process improvement opportunities to
improve Merit and its business. Identifies and recommends process
improvements that significantly reduce workloads or improve
- Develops and maintains Merit's Filing Playbook - the policies
and procedures revolving around Merit's state insurance filing
- Partners with key stakeholders across Merit and its holding
company to understand all aspects of the organization to determine
the appropriate course of action; makes recommendations to senior
management and others in an actionable format to achieve desired
- Supports the execution of meetings, including developing and
tracking action items, meeting logistics, agenda, minutes, and
follow-up activities; developing meeting presentation materials;
- Manages and enhances organizational initiatives by positively
influencing and supporting change management and/or
Skills / Knowledge / Abilities
- Communication skills
- Strong communications acumen with an ability to build rapport
across many functions within Merit, its stakeholders, and key third
- Excellent telephone and teleconferencing communication
- Excellent written/verbal communication, presentation, and
- Must have strong written communication skills with the ability
to draft documents, communication, and business correspondence
- Strong organizational, detail orientation and relationship
management skills are a must for this position
- Able to work independently and prioritize work under pressure
in a fast-paced environment while meeting deadlines.
- Must be self-driven, goal oriented, with the ability to work
independently and with others
- Not afraid to get their hands dirty in an entrepreneurial
environment when an "all-hands-on-deck" mentality is needed
- A desire to learn new concepts, seek challenges, possess an
inquisitive mindset and excel in a fast-paced, collaborative
- Able to approach problems in a structured manner and not get
- Someone who likes to build and innovate
- Strong non-mathematical analytical skills
- Industry focused / Technical skills
- Basic knowledge of mutual funds, annuities, life insurance,
retirement investment products and third-party distribution
- Prior experience (or ability to learn) formatting and
submitting electronic transmission of documents to the Securities
and Exchange Commission (SEC) in accordance with applicable
Electronic Data Gathering, Analysis, and Retrieval (EDGAR) Rules
and Regulations (including XBRL submissions).
- Medium proficiency and knowledge of regulatory requirements as
they pertain to life insurance, annuities, and securities
- Ability to use and leverage technology and tools with
proficiency in key technology platforms: Microsoft Office suite:
PowerPoint, Excel, Word, Outlook, Teams, and Sharepoint
Education And Experience
- Bachelor's degree from an accredited institution
- Preferred 5-8 years of legal, compliance, or filing experience
within the Insurance sector, preferably either annuity or life.
CERTIFICATIONS AND LICENSES
- Not required
Do not edit past this line
PHYSICAL DEMANDS AND WORK ENVIRONMENT
The physical demands described here are representative of those
that must be met by an employee to successfully perform the
essential functions of this job. Reasonable accommodations may be
made to enable individuals with disabilities to perform the
While performing the duties of this job, the employee is regularly
required to sit and use hands to finger, handle, or feel objects,
tools, or controls. The employee frequently is required to talk and
hear. The employee is occasionally required to stand; walk; reach
with hands and arms. The employee is rarely required to stoop,
kneel, crouch, or crawl.
The employee must regularly lift and/or move up to 10 pounds.
Specific vision abilities required by this job include close
vision, and the ability to adjust focus. The noise level in the
work environment is usually moderate.
777 Partners is an Equal Opportunity Employer. All aspects of
consideration for employment and employment with the Company are
governed on the bases of merit, competence and qualifications
without regard to race, color, religion, sex, national origin, age,
disability, veteran status, sexual orientation, or any other
category protected by federal, state, or local law.
Keywords: 777 Partners, Charlotte , Compliance & Filing Manager, Executive , Charlotte, North Carolina
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