VP, Compliance Officer
Philadelphia, PA, USA | Chubb
Industry:Insurance - General
Legal / Compliance
Job Description:119 people have viewed this job
This individual is responsible for the North America (NA) Consumer Programs Compliance function. The individual will develop and maintain an effective compliance program by establishing compliance standards, raising awareness of compliance issues, investigating and addressing compliance issues, and implementing controls to monitor and prevent compliance deficiencies. The individual will report directly to the NA Chief Compliance Officer (CCO).
This individual will partner with various NA business units, Business Compliance Officers, and other members of the Office of General Counsel to monitor, test, and mitigate potential compliance deficiencies. This individual will also partner with Regulatory Affairs and Insurance Regulatory Counsel to properly respond, rebut and, if necessary, design action plans to address results of regulatory audits, complaints, or market conduct exam activity.
This individual will need strong interpersonal and diplomacy skills; but more importantly, will need to be flexible and adaptable to an evolving compliance function.
MAJOR DUTIES & RESPONSIBILITIES:
• Develop and execute the NA Consumer Programs Compliance Risk Management strategy;
• Develop and maintain relationships with, and provide timely guidance and advice to, the executive business management teams;
• Maintain knowledge of upcoming regulatory changes related to consumer lines, including and provide timely guidance of state and federal regulatory changes in coordination with Legal for all product lines;
• In connection with the NA CCO and Global Compliance, provide and oversee training and awareness initiatives related to consumer compliance requirements;
• Assist in the preparation of responses to regulatory inquiries, complaints, and examinations;
• Lead the investigation of business unit related compliance issues or breaches in collaboration with NA CCO and other stakeholders;
• Partner with Business Compliance Officers to ensure that compliance guidance is implemented, action plans are completed timely, and that proper controls are in place and effective;
• Conduct regular monitoring and testing of compliance controls in place within the Consumer Programs business;
• Oversee and advise on effective controls related to the monitoring of third parties involved in Consumer Program business;
• Conduct trending analysis using data analytics and other reporting mechanisms to identify potential issues;
• Assist in the rectification of any action items related to compliance issues found on Corporate Underwriting audits for Consumer Programs business and monitor to ensure they are completed;
• Report and escalate compliance issues and developments as required.
• 10 years of insurance industry experience, primarily in the areas of consumer lines products;
• P&C insurance underwriting experience;
• A graduate degree a plus (JD, MBA, Other);
• Demonstrated understanding of the insurance regulatory environment;
• Very strong analytical and technical skills in using data analytics to understand “root causes” of compliance deficiencies and effectiveness of controls;
• Demonstrated ability to develop relationships;
• Ability to consistently execute and deliver results;
• Ability to manage multiple projects in a dynamic development environment;
• Strong knowledge of MS Project, Excel, PowerPoint Word; and legal/compliance research tools;
• Ability to manage multiple projects in a dynamic development environment; and
• Travel to local offices, as necessary.
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