Product Compliance Specialist

About the Job

We are looking for someone to join our high-performing, collaborative team of product compliance professionals. In this role you will review and analyze new regulations that impact our products, participate in drafting of new and revised products, review marketing materials for state laws and regulations, and participate in implementing new and revised products.

You'll leverage exposure to all of the products that the Company offers along with working with attorneys, actuaries, and product line partners to gain approval of our products that are ultimately sold by our Financial Representatives nationwide. Your ability to learn quickly, be detail-oriented, influence without authority and a desire to multitask and do project management on a small scale will set you up for success in this role and open the door to future career opportunities.

What You'll Do

Participate in policy contract drafting teams and the regulatory approval process for assigned projects. Review company product marketing materials for compliance with state laws and regulations for assigned product lines. Respond to states' concerns on contracts, forms, rates and marketing materials and negotiate for approval. Help provide counsel to home office clients on correction and revision of contracts and forms to achieve compliance while staying within company practices.

Participate in drafting teams for assigned projects for the purpose of creating insurance contracts and related company forms that match product specifications and comply with statutes and regulations in 51 jurisdictions. Provide counsel to client departments on state-mandated regulations and make recommendations for variations to forms. Negotiate and implement state-mandated changes, considering all contract and company impacts. Perform technical product review of marketing materials. Performs regulatory submission process for contracts and related forms, as well as marketing materials.

Responsible for helping to address states' concerns regarding new contracts, forms and marketing materials and negotiating with state insurance departments for approval of such.

Research regulations through various sources in order to adhere to state requirements and to create state form variations. Confer with associates to determine whether or not variations will change meaning of contracts and forms. Work with associates and drafting team on questionable issues. Responsible for implementing policy contracts and state variations to such and for communicating the variations to appropriate parties. Act as liaison with client departments on implementing variations to forms other than contractual forms.

Keep abreast of proposed and adopted regulations for assigned product lines in 51 jurisdictions. Responsible for implementing all necessary changes to contracts and related company forms. Act as liaison between Actuarial and client departments on contract forms and compliance.

Act as liaison between contract group and Systems personnel for complex technical issues related to contract and forms production. Prepare contract assembly instructions for System implementation and update existing instructions when changes warrant. Verify that all contracts coming through the New Business system are correct and complete prior to production.

What You'll Bring to the Role

Bachelor's degree with upper level course work in English and Mathematics.

Must have excellent communication skills (both oral and written).

Strong analytical ability required.

Familiarity with NAIC model regulations and state statutes and regulations preferred.

Willingness to attend industry meetings and foster relationships with regulators and peers at other companies in the insurance industry.

#LI-Hybrid

Compensation Range : Pay Range - Start :

$45,220.00

Pay Range - End : $83,980.00

Geographic Specific Pay Structure :

160 - Structure 110 (Exempt) : 49,770.00 USD - 92,430.00 USD

160 - Structure 115 (Exempt) : 52,010.00 USD - 96,590.00 USD

We believe in fairness and transparency. It's why we share the salary range for most of our roles. However, final salaries are based on a number of factors, including the skills and experience of the candidate; the current market; location of the candidate; and other factors uncovered in the hiring process. The standard pay structure is listed but if you're living in California, New York City or other eligible location, geographic specific pay structures, compensation and benefits could be applicable, click here to learn more.

Grow your career with a best-in-class company that puts our clients' interests at the center of all we do. Get started now!

Northwestern Mutual is an equal opportunity employer who welcomes and encourages diversity in the workforce. We are committed to creating and maintaining an environment in which each employee can contribute creative ideas, seek challenges, assume leadership and continue to focus on meeting and exceeding business and personal objectives.

FIND YOUR FUTURE

We're excited about the potential people bring to Northwestern Mutual. You can grow your career here while enjoying first-class perks, benefits, and our commitment to a culture of belonging.

• Flexible work schedules
• Concierge service
• Comprehensive benefits
• Employee resource groups

PandoLogic. Category : Marketing & Biz Dev, Keywords : Regulatory Compliance Specialist, Location : Milwaukee, WI-53205