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Senior Director, Governance and Compliance (Hybrid)
ProtectiveBirmingham, United Statesfull_timeVerifiedPosted 19 May 2023
💰 $140,000/yr($110,000/yr – $140,000/yr)
About the role
The work we do has an impact on millions of lives, and you can be a part of it.We help protect our customers against life’s uncertainties. Regardless of where you work within the company, you’ll be helping provide protection and peace of mind when our customers need it most.
The Senior Director, Governance and Compliance will be responsible for providing an industry-leading customer and distributor experience consistent with our core values. This role will lead governance and compliance functions within Protection New Business Operations, providing oversight and guidance for all internal controls, state-mandated guidelines, payment activities, and standard operating procedures.
Principal Duties & ResponsibilitiesGovernance and Compliance – Maintenance and oversight of policies and procedures applicable to New Business Operations processes to ensure all procedures comply with statutory requirements. Provide oversight of regulatory audits of New Business Operations processes. Develop and implement action plans to ensure the completion of all necessary corrective actions. Conduct annual reviews, periodic audits, and testing to ensure that policies and procedures are operating effectively and that all processes operate compliantly. Collaborates with Legal, Compliance, and Internal Audit teams to establish key performance indicators and tracking mechanisms to measure the effectiveness of compliance management. Applies learnings in efforts to improve results and adherence to regulatory requirements continuously.
Employee Experience – Build an inclusive, engaging team environment that encourages diversity of thought and open communication. Embraces and articulates a differentiated vision and inspires the team to operate with a customer and distributor-focused mindset. Creates an employee experience that encourages growth and retention of key talents.
Operational Management – Manage staff to deliver outstanding results while creating and fostering a diverse and inclusive atmosphere where employees feel empowered and valued. Ensure a disciplined, data-driven approach and methodology to deliver industry-leading customer experiences and consistently meet service levels. Ensure that operational processes align with regulatory guidelines and procedures.
Business Process Improvement – Lead future state process analysis, documentation, solution design, implementation, and communication of process improvements across Protection New Business Operations related to Governance and Compliance. This role will streamline, simplify, and improve end-to-end processes, drive a continuous improvement culture, and create a differentiated user experience.
Project Management – Lead cross-functional teams to implement strategic initiatives to improve customer and distributor experiences. Lead project teams as a decision-maker for New Business Operations. Collaborate with other functional areas and leaders in the organization to advance the New Business Operations strategy.
Relationship Management – Builds and maintains relationships between Distribution, Operations, and IT leaders. Communicate new capabilities, issues, and trends to Distribution, Operations, and IT leaders in relation to new business processes. Serve as a business liaison with key stakeholders, representing New Business' needs and serving as a subject matter expert on submission, exception handling, compliance, accounting, and vendor best practices.
Product Knowledge – Develop a good understanding of Protective's life insurance products and associated customer and distributor support models. Understand the process and system requirements to support new products.
Example of analytical ability required:Example: This role will be required to conduct detailed reviews of state regulatory guidelines (that often change) and partner with Compliance and Internal Audit to determine where changes need to be incorporated across people, processes, and tools/systems to ensure regulatory compliance without negatively impacting the customer and distribution partner. Partner will IT to document requirements, oversee that changes are made accurately, and test the results. These process changes also require knowledge of what our key competitors are doing to ensure that we don’t become a negative outlier in our industry and impact life insurance sales. This example requires cross-functional leadership, discovery, analysis, future state definition, competitive intelligence, and the ability to operationalize improvements.
The Senior Director, Governance and Compliance will be responsible for providing an industry-leading customer and distributor experience consistent with our core values. This role will lead governance and compliance functions within Protection New Business Operations, providing oversight and guidance for all internal controls, state-mandated guidelines, payment activities, and standard operating procedures.
Principal Duties & ResponsibilitiesGovernance and Compliance – Maintenance and oversight of policies and procedures applicable to New Business Operations processes to ensure all procedures comply with statutory requirements. Provide oversight of regulatory audits of New Business Operations processes. Develop and implement action plans to ensure the completion of all necessary corrective actions. Conduct annual reviews, periodic audits, and testing to ensure that policies and procedures are operating effectively and that all processes operate compliantly. Collaborates with Legal, Compliance, and Internal Audit teams to establish key performance indicators and tracking mechanisms to measure the effectiveness of compliance management. Applies learnings in efforts to improve results and adherence to regulatory requirements continuously.
Employee Experience – Build an inclusive, engaging team environment that encourages diversity of thought and open communication. Embraces and articulates a differentiated vision and inspires the team to operate with a customer and distributor-focused mindset. Creates an employee experience that encourages growth and retention of key talents.
Operational Management – Manage staff to deliver outstanding results while creating and fostering a diverse and inclusive atmosphere where employees feel empowered and valued. Ensure a disciplined, data-driven approach and methodology to deliver industry-leading customer experiences and consistently meet service levels. Ensure that operational processes align with regulatory guidelines and procedures.
Business Process Improvement – Lead future state process analysis, documentation, solution design, implementation, and communication of process improvements across Protection New Business Operations related to Governance and Compliance. This role will streamline, simplify, and improve end-to-end processes, drive a continuous improvement culture, and create a differentiated user experience.
Project Management – Lead cross-functional teams to implement strategic initiatives to improve customer and distributor experiences. Lead project teams as a decision-maker for New Business Operations. Collaborate with other functional areas and leaders in the organization to advance the New Business Operations strategy.
Relationship Management – Builds and maintains relationships between Distribution, Operations, and IT leaders. Communicate new capabilities, issues, and trends to Distribution, Operations, and IT leaders in relation to new business processes. Serve as a business liaison with key stakeholders, representing New Business' needs and serving as a subject matter expert on submission, exception handling, compliance, accounting, and vendor best practices.
Product Knowledge – Develop a good understanding of Protective's life insurance products and associated customer and distributor support models. Understand the process and system requirements to support new products.
Example of analytical ability required:Example: This role will be required to conduct detailed reviews of state regulatory guidelines (that often change) and partner with Compliance and Internal Audit to determine where changes need to be incorporated across people, processes, and tools/systems to ensure regulatory compliance without negatively impacting the customer and distribution partner. Partner will IT to document requirements, oversee that changes are made accurately, and test the results. These process changes also require knowledge of what our key competitors are doing to ensure that we don’t become a negative outlier in our industry and impact life insurance sales. This example requires cross-functional leadership, discovery, analysis, future state definition, competitive intelligence, and the ability to operationalize improvements.
Key Attributes:
- Domain expertise/knowledge of the life insurance market and product being developed or the demonstrated ability to come up to speed quickly on unfamiliar areas of the business
- Proven leadership and collaboration skills working with people across the organization
- Ability to translate requirements into features and to break down, prioritize, and drive deliverables for the de
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