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Associate Compliance Specialist

Madison National Life, a wholly-owned subsidiary of Independence Holding Company with principal interest in the life and health insurance businesses, has an opportunity for an Associate Compliance Specialist. If you are searching for a new challenge and are excited to work with a broad range of products, you will want to work here! We are adding a position to our Compliance Team.  If you hate errors, are analytical with a legal aptitude, would enjoy working for a small, but growing company, you will want to get your resume in for this position.

This position is responsible for overseeing the production of all documents pertinent to various products in an effort to facilitate the current and compliant execution of business as well as communicating and coordinating with various staff to maintain accuracy and compliance.

Responsibilities:

Generate and review policy documents

  • Update policies and contracts
  • Create, review and update rate appendices, amendments
  • Develop, maintain and distribute essential management reports reflecting current and pending forms and/or contract documents to be considered in planning and new product development
  • Prepare and submit all policy form filings to insurance departments
  • Create “issue ready” forms for various TPA’s according to specific marketing and underwriting authorizations.
  • Create fillable application forms for TPA’s as requested.
  • Inform affected personnel and TPA/marketers when forms are approved in a given state and assist in implementation.  

Monitor internal controls

  • Work with department staff to ensure forms used by agents/accounts are in compliance
  • Assist in the implementation of state approved forms and contracts  

Develop, coordinate and enhance working relationships, internal and external

  • Provide staff with thorough information on various products
  • Provide research and consultation as needed and/or requested regarding various products
  • Foster and maintain relationships with contract specialists within other corporate entities
  • Develop and maintain working relationships with state regulators  

Assist in department specific compliance initiatives

  • Monitor and respond to regulatory changes
  • Perform on-going audits of department specific functions to ensure company remains in compliance with state and federal laws, regulations and requirements
  • Coordinate and track handling of insurance department complaints related to various products
  • Monitor and manage compliance report filings, data calls, surveys and any other miscellaneous insurance department requests.
  • Monitor and maintain compliance report log; ensure all filings are submitted timely and accurately
  • Manage and maintain company license renewals and pay/process any other compliance or agent related invoices.

Agent Appointment Processing

  • Collect paperwork and handle appointment of agents for NIS life and disability business and Cook & Company injury on duty business with state insurance departments through Vertafore appointment system.
  • Monitor agent terminations and renewals, update systems as needed and communicate to impacted IHC entity and/or TPA/marketer.

Education and/or experience:  Bachelor’s degree preferred, comparable experience considered, with two to four years of experience working at a life/health insurance company. Two years of experience researching and interpreting insurance laws.  Two years of experience interpreting policy forms. Paralegal certificate preferred.

Skills and or abilities:  Requires excellent verbal and written communication skills.  Must be able to effectively work on a team or individually.  Candidate must possess superior problem solving ability, organizational skills, and analytical ability.  Candidate must be able to read and interpret legal language. Must be proficient with Microsoft Word and have familiarity with Microsoft Excel and Microsoft Access.  Ability to learn insurance administrative systems. Working knowledge of System for Electronic Rates & Forms Filing (SERFF) and insurance legal database such as Wolters Kluwer INSource or Westlaw desired.  Ability to multitask is critical.

Certificates:  Completed LOMA or HIAA courses or designations preferred.

Qualifications:  To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.  Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.