Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 insurance holding company dedicated to helping people secure their financial lives, families and futures. Headquartered in Richmond, VA, Genworth has approximately 6,400 employees operating through three divisions around the world. For more information on employment opportunities, please visit genworth.com/employment.
- This position will be primarily responsible for providing Compliance support for the Annuity Customer Service team. This support will include (1) monitoring/auditing Annuity Customer Service practices and other activities for compliance with state regulations and company policies, including oversight of the Compliance Management System (CMS), and (2) review and analysis of regulations including assessment of impact to Annuity Customer Service operations and presentation of solutions or options, and (3) assisting company management in developing action plans to address any compliance or market conduct issues/exposures identified.
- Complete compliance reviews by performing audit routines and analytic procedures designed to identify potential compliance and market conduct issues/exposures. The reviews include tests of company processes and procedures and analysis of compliance-related trends, investigation of results to determine root causes, and working with business leaders or project teams to resolve any market conduct issues/exposures identified.
- Compare and evaluate possible courses of action and make recommendations regarding compliance and market conduct issues/exposures and assist in communicating them to appropriate levels of management. This will include conducting research and providing guidance and consultation to project teams on Compliance related topics that have a direct impact on the business.
- Assist Annuity Customer Service operations in preparing and/or updating documentation of company processes and procedures which present compliance and market conduct issues/exposures and review the documentation to assess the risk inherent in the activity.
- Complete periodic and ad hoc Compliance reviews of Annuity Customer Service SOP’s, forms, training, etc., provide timely feedback and approval.
- Assist Annuity Customer Service operations in identification of 38a1 reporting issues, ensure notification to 38a1 Process Manager and support resolution of issues by conducting research and providing guidance and consultation to Annuity Customer Service.
- Provide Compliance support and guidance to Annuity Customer Service Operations including responding to business requests, new product implementation and market conduct exam support.
- Develop and implement programs to enhance compliance and market conduct awareness, including proactive participation in cross-functional teams within the company and developing and presenting market conduct and compliance educational programs for distributors and employees.
- Create and maintain Compliance Department audit routines and analytic review procedures
- Perform various other special examinations/projects as assigned by manager.
- Maintain technical proficiency with respect to reviewing company activities for compliance and market conduct issues/exposures and actively participate, as appropriate, in compliance and market conduct groups within the insurance industry.
Basic Qualifications Required:
- BS/BA in business related field of study or High School Diploma and significant work experience related to compliance and regulation in the insurance industry and/or insurance operations including (1) compliance auditing, (2) compliance and regulation in the life insurance industry, or (3) insurance operations. This experience should include significant work with variable life and annuities.
- This position will be based in the Lynchburg Office, requiring 1-2 days every other week in Richmond.
- Securities Series 6 License with working knowledge of the variable life and annuity products and regulatory requirements
- Strong working knowledge and understanding of Annuity Customer Service operations and the compliance/market conduct/regulatory issues related to those operations.
- Strong intellectual curiosity and a desire to develop an in-depth understanding of complex issues.
- Ability to multi-task and manage short and long term initiatives as well as changing priorities.
- Excellent organizational skills. Proficiency with personal computers. Excellent oral and written communication skills. Strong analytical skills.
Preferred Candidate Qualifications:
- Securities Series 26 Licensed
- Associate, Compliance Regulation Designation.
- FLMI Designation (or significant progress toward the designation)
- Strong background and knowledge base on Annuity Contract Administration Systems
- Basic understanding of the Genworth R&P Business Structure and Distribution Channels
Genworth Financial, Inc. is a leading Fortune 500® insurance holding company dedicated to helping people secure their financial lives....