Compliance Manager - Life

Summary
The Compliance Manager is responsible for all compliance support for the company’s life insurance product line including regulatory implementation, oversight, operational monitoring, and new product launch advisory support. This role serves as compliance support for new product implementations and acts as the primary compliance resource supporting Operations, Distribution, and TPA teams for life-related matters. This position plays a critical role in identifying regulatory risks and ensuring regulatory requirements are effectively documented, implemented, monitored, and sustained. The position also serves as backup for the Market Conduct Annual Statement (MCAS) filing process and plays a key role in assisting with MCAS data analysis and validation. The Compliance Manager also plays a key role in regulatory change management, operational compliance testing, and business advisory support.

Major Duties and Responsibilities include the following:

General Life Compliance Duties
• Serve as primary compliance lead for projects involving life insurance products.
• Monitor, interpret, and partner with Operations to implement state and federal regulations.
• Maintain and update 50 state regulatory matrices as necessary.
• Partner with IT and Operations to develop and maintain monitoring controls to demonstrate compliance with life regulatory requirements.
• Conduct routine compliance reviews and testing of life-related processes, procedures, forms, disclosures, training materials, and system outputs.
• Analyze life operational data (surrenders, exchanges, replacements, claims handling, complaint trends, producer activity) to identify compliance risks and anomalies.
• Partner with business on root cause analysis and corrective action development for identified exposures.
• Become fully trained on MCAS process to serve as backup to the Compliance Manager for all applicable MCAS filings, including:
◦ Familiarity with the MCAS system and submission process
◦ Familiarity with the data calls, definitions, ratios and csv file formats
◦ Familiarity with the MCAS team, relationships and queries
◦ Data validation and analysis
◦ Assisting with implementation of new NAIC requirements
◦ Supporting responses to NAIC and regulator inquiries
◦ Supporting continued growth, development, and documentation of the MCAS process
• Support compliance with risk assessments and regulatory reporting initiatives.
• Document compliance opinions, risk assessments, and issue tracking in accordance with department standards.
• Maintain and report on Life compliance metrics, investigate variances and propose compliance solutions if remediation is needed.
• Support and serve as backup to the Annuity Compliance Manager as needed

New Life Product Launch Support (In partnership with Legal, Actuarial and Operations):
• Act as embedded compliance advisor during new life product development and enhancement initiatives.
• Participate in product design discussions to identify regulatory risks and structural concerns early in development.
• Review product features (crediting strategies, surrender charges, riders, bonuses, income features, market value adjustments, etc.) to assess regulatory implications.
• Evaluate product structure for potential regulatory vulnerabilities.
• Review draft contracts, applications, disclosures, producer materials, and policy forms for regulatory risk and clarity.
• Identify potential regulatory conflicts and recommend mitigation strategies.
• Assess distribution model implications (independent agents, affiliated distribution, etc.) from a compliance and supervision perspective.
• Partner with Product, Actuarial, Legal, and Operations teams to ensure regulatory requirements are embedded in business workflows prior to launch.
• Provide compliance input on administrative system configuration and procedural workflows to ensure proper controls.
• Support implementation of training requirements associated with new life products.
• Assist with readiness reviews prior to product launch to confirm operational compliance controls are in place.

Business Advisory & Cross-Functional Support
• Serve as compliance liaison to Life Operations (New Business, Suitability Review, Customer Service, Replacements, Claims).
• Provide clear, actionable regulatory guidance to business partners.
• Develop subject matter expertise in life product administration systems and TPA processes to ensure contractual and regulatory alignment.
• Ensure TPA administrative processes align with contractual and regulatory obligations.
• Assist with market conduct examination preparation related to life products.
• Represent Compl