Lead, Insurance Product Compliance

The Opportunity

As a Lead, Insurance Product Compliance, you will be a part of a dynamic and collaborative team that supports a broad swath of the business on compliance issues. Specifically, this role will provide new business/underwriting with guidance on potential compliance risks and solutions. This may involve consulting on financial underwriting standards and individual underwriting case decisions as well as artificial intelligence and algorithmic underwriting models.

The Lead, Insurance Product Compliance will also collaborate with various stakeholders including Advanced Sales, Enterprise Risk Management, Corporate Audit and Legal in identifying potential compliance risks arising from product design and establishing company policy applicable to sales concepts.

In addition to the above, the Lead, Insurance Product Compliance will perform data analysis of sales trends with a goal of identifying potential compliance risks and subsequently recommending properly tailored mitigating actions.

This position is based in Springfield, Boston or NYC and follows a hybrid work schedule.

The Insurance & Regulatory Compliance team collaborates with business leaders and other control partners in addressing compliance risk across a broad swath of the business including Product, Operations, Third Party & New Markets, Institutional, and Mass Mutual Financial Advisors (MMFA). Examples of key regulatory requirements upon which the team advises include NAIC Suitability in Annuity Transactions Model Regulation, NY Reg 187, NY Reg 60, SEC Rule 38a-1, the NAIC Model Unfair Trade Practices Act.

We seek to offer clear and actionable compliance guidance and influence business partners to ensure they have the knowledge and tools necessary to navigate the complex regulatory landscapes with integrity and success.

• Consult on Underwriting issues
  :
  Provide risk-based, tailored guidance on a range of insurance underwriting topics including overall governance, accelerated/algorithmic underwriting rules and administration, policy manual development and revision, financial underwriting, and input on specific cases often involving questions of potential unfair discrimination.
• Perform Data Analysis related to the insurance portfolio
  :
  Collaborate closely with Compliance & Ethics Data Intelligence team to perform data analysis of sales (and in-force transaction) trends with a goal of identifying potential compliance risks and subsequently recommending/developing properly tailored mitigating actions.
• Influence the development of company policies regarding insurance sales practices
  :
  Use data analysis, business acumen and experiential insights to identify potential new or updated policies that are designed to reduce compliance risk to Mass Mutual as a product manufacturer. Collaborate with business leaders and other control functions to draft, refine and effectively implement (including training and readiness) those policies.
• Serve as lead on Insurance Standards of Conduct (aka best interest/suitability) governance
  :
  Responsible for developing and updating programs that are reasonably designed to ensure compliance with applicable laws and regulations.
• Project Guidance
  :
  Work independently on complex projects related to new products, services, platforms, and business initiatives.

• Bachelor’s degree and 10+ years of compliance (or related) experience required.
• 5+ years’ experience with relevant insurance regulatory compliance programs.

• The ability to work independently.
• Experience with various standards of conduct regimes including DOL fiduciary, NY Reg 187 and NAIC Suitability in Annuity Transactions Model Regulation.
• Advanced Degree (e.g. JD) and 15+ years experience preferred.
• Exceptionally strong business acumen. The successful candidate must be able to clearly and effectively communicate compliance issues to business partners (including senior business partners) and to influence business decisions.
• Exceptional written communication skills.
• Strong analytical abilities that can assess both risks and the effectiveness of compliance controls.

Mass Mutual is an equal employment opportunity employer. We welcome all persons to apply.

If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.

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