Director, Corporate Compliance
Nationwide
Location: This position can be remote depending on location.
This position with 4 direct reports supports annuity product regulatory filings with state insurance departments and the Interstate Insurance Product Regulation Commission (IIPRC). Products include individual annuities, group annuities, and pension risk transfer products. Experience in life insurance product filings is helpful, but not required. The position will also be responsible for managing filing projects and individual product submissions and experience with product regulatory filings is required.
The ideal candidate will have the following:
Ability to quickly establish and maintain relationships with various matrix business partners.
Experience with individual and group annuity products and applications.
Experience with state regulatory filings and IIPRC filing standards.
Ability to manage multiple filing projects with competing priorities.
Possess the confidence to lead, innovate and adapt.
Ability to think through and solve problems or unknowns.
Ability to exhibit meeting inquisitiveness and courageousness.
Ability to lead through influence and manage a team of remote associates.
Job Description Summary
Are you someone who is compelled to “do the right thing” and able to make decisions to ensure regulatory and legal compliance that protects a business and its customers? If you thrive in an environment where you can tackle tricky issues and find ways to achieve business goals within the complex, highly regulated insurance industry, we want to know more about you!
We work across the enterprise to help our business partners work through issues successfully. Nationwide's culture of compliance and passion for providing extraordinary care to its customers makes the Office of Compliance & Ethics a valued partner across the Nationwide enterprise.
As a Compliance Director, you will collaborate to ensure that business operations are conducted in compliance with regulatory, legal and organizational requirements. You’ll direct a team that plans, performs and leads various types of compliance reviews, initiatives and/or projects with business units, creating and delivering innovative solutions to help our business partners meet their goals and objectives while ensuring policies and procedures conform to regulatory requirements.
Job Description
Key Responsibilities:
Leads, engages and inspires a team of compliance associates who perform the activities of a corporate compliance program designed to support business partners in ensuring compliance with federal and state regulations.
Partners with supported business units on a variety of initiatives to ensure business objectives and strategies are aligned with regulatory requirements. Collaborates directly with business unit leaders on complex compliance matters.
Monitors compliance and regulatory industry trends and identifies the impact to business partners. Accountable for proactively communicating with our business partners regarding regulatory changes and their impacts and proposes solutions for compliance. Ensures that compliance team successfully partners with business unit on any actions needed to maintain compliance with respect to these changes.
Leads the development and implementation of corrective action plans for compliance issues. Monitors and reports progress. Validates the overall effectiveness of delivered corrective action plans.
Provides oversight in the creation and utilization of reports and documentation for compliance activities including those related to Compliance team participation in regulatory exams.
Assesses the design and adequacy of functional compliance policies, procedures, training and objectives. Performs risk assessments and implements organizational change processes where needed in order to ensure an effective compliance program.
Maintains effective working relationships with business partners, insurance/regulatory agency authorities, trade associations, and other insurance/financial companies.
Leads a team with responsibilities that include hiring, training and developing associates and managing individual and team performance.
Represents Compliance supporting large projects taking place within business units, including regulatory exams. Leads major projects associated with compliance objectives.
Drives the development and use of data analytics to improve the compliance program.
Employs standard methodologies for continuous improvement and innovation opportunities.
May performs other responsibilities as assigned.
Reporting Relationships: Reports to Officer/Compliance Executive and will manage a team of approximately 4 or more associates.
Typical Skills and Experiences:
Education: Undergraduate studies in business administration, insurance, business ethics, criminal justice, computer science, finance, or pre-law preferred. Graduate studies a plus.
License/Certification/Designation: Depending on the specific Compliance team, you may be required to obtain professional licenses/registrations within a specific timeframe.
Experience: Typically, ten or more years of related work experience in leadership, financial services, insurance, compliance or a related subject area. Project management, leadership and data analytic skills preferred.
Knowledge, Abilities and Skills: In-depth working knowledge of insurance and financial services products, as well as knowledge of state and federal regulations. Effective communicator able to effectively interact all levels of the organization using various techniques and platforms. Experienced at managing large projects. Ability to set work and project priorities, and to evaluate and recommend solutions to regulatory compliance problems and internal processes. Leadership skills and the ability to coach, develop and motivate associates.
Other criteria, including leadership, experience, risk assessment and mitigation strategy development competencies and expertise may take precedence.
Staffing exceptions to the above must be approved by the hiring by leadership and Human Resources.
Values: Regularly and consistently demonstrates the Nationwide Values.
Job Conditions:
Overtime Eligibility: Exempt (Not eligible)
Working Conditions: Normal office environment. Occasional travel and non-standard work hours.
ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties.
Benefits
Nationwide is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive culture where everyone feels challenged, appreciated, respected and engaged. Nationwide prohibits discrimination and harassment and affords equal employment opportunities to employees and applicants without regard to any characteristic (or classification) protected by applicable law.
We have an array of benefits to fit your needs, including: medical/dental/vision, life insurance, short and long term disability coverage, paid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year pro-rated quarterly based on hire date, nine paid holidays, 8 hours of Lifetime paid time off, 8 hours of Unity Day paid time off, 401(k) with company match, company-paid pension plan, business casual attire, and more. To learn more about the benefits we offer, click here.