Responsibilities:
- Develop, implement, and maintain the bank's insurance compliance program to ensure adherence to all applicable laws, regulations, and internal policies
- Oversee and manage the compliance risk assessments, monitoring, and testing activities related to the bank's insurance products and services
- Provide subject matter expertise and guidance to business units on insurance-related compliance requirements
- Collaborate with the legal, risk management, and product teams to ensure new insurance offerings and changes to existing products meet compliance standards
- Conduct compliance reviews of insurance-related marketing materials, policy documents, and customer communications
- Investigate and resolve complex insurance-related customer complaints and regulatory inquiries
- Stay up-to-date on evolving insurance regulations and best practices, and update the compliance program accordingly
- Prepare periodic compliance reports for senior management and regulatory bodies
- Manage a team of insurance compliance professionals and ensure their continuous development
Qualifications:
- Minimum 5 years of compliance experience in the banking or insurance industry
- Thorough understanding of insurance regulations, including product approval, sales practices, and policyholder protection
- Demonstrated expertise in complaint handling, root cause analysis, and resolution management
- Excellent problem-solving, analytical, and communication skills
- Strong leadership and team management capabilities
- Bachelor's degree in a relevant field (e.g., finance, accounting, law); advanced degree or professional certification (e.g., CPCU, FLMI) preferred
