SUMMARY:
The Compliance Manager plays a critical role in safeguarding the organization’s adherence to regulatory requirements and industry standards by overseeing regulatory monitoring, managing rate and form filings, audit preparation, and compliance readiness. This role involves actively identifying compliance needs, coordinating and delivering necessary training, and ensuring that all employees understand relevant regulations. As part of Risk Management and Corporate Governance, the Compliance Manager assesses and mitigates potential risks, ensuring alignment with internal policies and legal standards. This role requires a proactive, detail-oriented approach to continuously improve compliance processes, reduce risk, and support the organization’s commitment to ethical and compliant operations.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Other duties may be assigned as necessary to meet corporate needs related to the compliance function.
Regulatory Monitoring
- Serve as administrator for MEM’s Code of Conduct hotline. Maintain MEM’s web portal page and investigator data with third party vendor and ensure reports of concern are received and investigated.
- Oversee submissions of all state regulatory filings by coordinating and submitting all, annual rate, rule and form filings, business entity filings with the Secretary of State, NAIC license/expansion filings, biographical affidavits for directors and officers, and corporate governance annual disclosures.
- Prepare or facilitate responses to regulator inquiries and objections to filings.
- Draft and edit policy forms, endorsements, notices and related correspondence for regulatory filing and approval.
- Monitor and communicate status of filings to internal business partners.
- Collaborate with internal departments to develop, implement, and maintain regulatory compliance policies and procedures.
- Leads the Compliance Committee. Ensure the Committee regularly updates and maintains compliance with the Compliance Calendar.
- Ensure legal and regulatory changes are monitored and any business impacts are understood so system and other operational changes can be implemented to maintain compliance.
- Provide compliance research and support to MEM for various regulatory jurisdictions as required.
- Respond to or coordinate responses to regulatory inquiries as required, such as complaints and market conduct inquiries. Maintain required logs and documentation.
- Maintain relationships with associations or industry groups to stay abreast of regulatory requirements and industry compliance trends.
Regulatory Audit and Compliance Readiness
- Conduct regular compliance audits and risk assessments, as designated by the portfolio of audit assignments, to identify potential regulatory issues. Resolve issues arising from audits and refer serious or contentious issues to the Director of Legal and Compliance.
- Working with the Director of Legal and Compliance to develop and implement corrective action plans to address any compliance deficiencies.
- Work with IT in the development of compliance training and education for MEM employees related to data security.
- Participate as a member of the Business Continuity Team actively contributing in matters related to Records and Information Management.
Risk Management and Corporate Governance
- Maintain an active role in the corporate governance model in an ongoing basis throughout the year.
- Serve as member of the Business Continuity and Corporate Data Security Incident Response Team.
- Conduct risk assessments to evaluate product, compliance, or operational risks, providing assistance to the Director of Legal and Compliance in developing risk management strategies.
- Coordinate an annual data security breach exercise with the Business Continuity and Data Security Incident Response Teams and other relevant stakeholders to drive readiness.
- Serve on the Emerging Risks Team to identify and mitigate new and emerging risks.
QUALIFICATIONS:
Education
- A bachelor’s degree in business administration, finance or a related field is preferred. Advance degree a plus.
Designations/Certifications
- An Institutes or AICP designation preferred (ARM, ARC, ACP, CCP).
Licenses
- None Required
Experience:
- 7+ years of professional experience in insurance operations and compliance/risk management.
- 5+ years of experience researching state insurance laws, regulations and state license requirements and facilitating state insurance department filings.
Company Culture and Values At MEM Insurance, we are committed to our vision, mission, and values. We foster a culture of collaboration, integrity, and innovation. Our team is passionate about delivering exceptional service to our customers while supporting each other’s growth and success. We believe in accountability, continuous learning, and creating an environment where employees feel valued and empowered.
Diversity Statement MEM Insurance is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We believe that varied perspectives drive innovation and strengthen our ability to serve our customers and communities.
Total Rewards Overview
- Health Plans: Medical, Dental, and Vision
Includes fertility benefits, fully paid preventative care, and adult orthodontia.
- Annual Performance Based Bonus
• Employer-Paid Life and Disability Benefits:
Life Insurance (3x base salary), AD&D, Short and Long-term Disability.
- Wellness and Recognition Program: Employer-paid incentives for employees and spouses.
- Flexible Spending Account and Dependent Care options
- Health Savings Account: Generous employer contribution.
• Time Away from Work:
Generous PTO, 11 Holidays + 4 Early Releases, 16 Hours Volunteer Time Off, 20 Days Paid Parental Leave, Marriage, Bereavement, and Jury Duty leave.
- Employee Assistance Programs
- 401k Retirement Plan: Employer match and profit sharing.
- Adoption Assistance and Tuition Assistance
Notice Regarding Use of Artificial Intelligence MEM may use artificial intelligence (AI) tools to more efficiently facilitate and assist in decisions involving recruitment, hiring, promotion, renewal of employment, selection for training or apprenticeship, discharge, discipline, tenure, or the terms, privileges, or conditions of employment. Any such use of AI tools will comply with all applicable laws.
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