Director of Operational Compliance

#LI-Hybrid #LI-DNP

Overview

The Director, Operational Compliance will provide subject matter expertise on a variety of compliance-related topics. Supports all aspects of the Order’s compliance program. Under the supervision of department leadership, the Director, Operational Compliance manages, monitors, and supports the daily activities for the anti-money laundering (AML) program and anti-fraud program.  Serves as SIU Coordinator as designated by the Chief Compliance Officer with all the responsibilities of that position as set forth in the KofC anti-fraud plan. Partners with internal departments to ensure proper sanctions enforcement, including AML reviews of large cases and other related programs.  Identifies compliance-related risks and helps lead meetings and projects designed to mitigate those risks.  Oversees the complaint-handling program to ensure timely and quality responses are sent to the insurance departments and clients.

Specific efforts will be directed to ensure the organization’s business activities are in line with applicable company policies, laws, and regulations.  He/She will be expected to interact closely with the management team at all levels throughout the organization including, but not limited to, Field Management, New Business, Certificate Services, Claims, Human Resources, Internal Audit, Risk Management, Communications, and Information Technology.

Core Responsibilities

• Leads, manages, and supports all Operational Compliance activities, with a particular focus on operational and sales activities, and provides support and guidance to Compliance department leadership and other senior business executives as requested or as may be helpful or appropriate.
• Serves as a subject matter expert on Operational Compliance matters, responding to inquiries from home office staff, executives, agents, council leaders, and regulators.
• Manages the AML and anti-fraud programs for the Knights of Columbus and certain organizational affiliates.
• Serves as SIU Coordinator as designated by the Chief Compliance Officer.
• Leads risk assessments and testing of AML, anti-fraud, sanctions enforcement, AML reviews of large cases, and other related compliance programs.  Reports findings of exposure and/or unexpected risk to appropriate management.  Provides risk analysis and recommendations for further action.
• Assists, leads, or manages third parties in investigations (as assigned) aimed at the prevention, detection and mitigation of money laundering, fraud, improper sales practices, and other regulatory risks to KofC.  Develops and prepares reports covering all phases of investigations.  Conducts research on unique or unidentified exposures or any other subject requiring similar analysis.
• Oversees team members in their daily activities handling complaints and performing AML activities.
• Designs and ensures that appropriate AML and anti-fraud compliance training is provided as required. Also assists in the development and delivery of compliance training and communications given to agents.
• Collaborates with business units on their policies and procedures, recommending changes as appropriate.  Partners with the Regulatory Compliance and Quality Assurance team in implementing procedures designed to comply with directives relating to legal or regulatory requirements.
• Assist DCCO as requested with Enhanced Due Diligence and OFAC sanctions screening in support of the organization’s international charitable grant activity.

Skills Qualifications

• Must possess a minimum of 7-10 years of experience in insurance and/or Compliance or equivalent combination of training and experience.
• Must possess broad technical insurance knowledge, including knowledge of insurance and annuity industry regulations and practices
• Must have a demonstrated ability to provide compliance guidance to business partners in support of their various initiatives, including on the development of and revisions to their policies and procedures.
• Must possess strong interpersonal and relationship-building skills and a demonstrated record of building effective working relationships at all organizational levels

Education

• The successful candidate should hold the following active designations/certifications, or successfully obtain them within 1-year of hire, and maintain them at all times through available Continuing Professional Education (CPE) courses and/or recertification process:
  • CFE (Certified Fraud Examiner)
  • CAMS (Certified Anti-Money Laundering Specialist)
• Insurance designations (e.g., FLMI, CLU, ACS) a plus

Compensation

The wage range for this role takes into account a broad array of factors that are considered in making compensation decisions, including but not limited to: skill sets; experience and training; licensure and certifications; and other business and organizational needs.  The range below applies as long as the work is performed in Connecticut; the Knights of Columbus reserves the right to adjust the wage range if the position is performed in another location.  At the Knights of Columbus, it is not typical for an individual to be hired at or near the top of the range for their role, and compensation decisions are dependent on the facts and circumstances of each case. A reasonable estimate of the current range is $126,100 - 220,500.

Authorization to work in the United States is required

This position is not eligible for visa sponsorship 

Physical Demands