Vice President, Regulatory Compliance

Guarantee Trust Life Insurance Company (GTL), an A-rated (A.M. Best) life and supplemental health insurance company with a proven track record of success in Final Expense life insurance, hospital indemnity and short-term care products is seeking a seasoned Vice President of Regulatory Compliance.

The Vice President of Regulatory Compliance reports to the Vice President of Enterprise Risk & Compliance and manages a team of 11 employees.  This is a pivotal business partner role that requires a full-time onsite presence.  The role does require occasional business travel.  

As part of GTL leadership, this role is responsible for ensuring that all insurance products, operational practices and protocols, and regulatory filings are in full compliance with state and federal statutes and regulations which govern the products we market, the consumers we serve, and the industry to which we belong.

Key Responsibilities

The ideal candidate is a person with an established leadership background in managing a team of compliance professionals for a life and/or health insurance company. GTL’s Compliance team has staff located in both its Illinois and Nebraska offices. As team members serve in complex and diverse roles, a strong candidate will bring hands-on experience with:

• Product development (whole and term life and supplemental health insurance) and state filing, which include the drafting of forms, filing with the state Departments of Insurance or Interstate Compact, overcoming regulatory objections, and obtaining timely approval for speed to market;
• The requirements of advertising life and supplemental health products to consumers, including content on digital and social media platforms;
• Analysis of newly enacted legislation or adopted regulations and its impact on applicable insurance products, or insurance industry operations and communicating these in a concise format to company leadership;
• Oversight of the handling of escalated consumer complaints received from regulatory agencies and consumer advocacy organizations;
• Familiarity with periodic state reporting, as well as supporting regulatory examinations and audits; 
• The ability to provide solid guidance around potential compliance and regulatory risks; and
• Drafting, reviewing, and updating internal policies and procedures to ensure they align with the latest laws, regulations, and industry standards;
• Identifying, assessing, and mitigating compliance risks across the organization and developing a risk-based compliance monitoring program;
• Maintaining a comprehensive, up-to-date compliance library, which acts as a centralized repository for legal and regulatory data;
• Establishing close partnerships with GTL’s Executive Committee, Sales, Legal, Actuarial, and other functional departments with communication skills that can influence, advise, and help align compliance with GTL’s key initiatives and objectives.

Required Qualifications

• 10 years of leadership experience in insurance compliance within a supplemental health and/or life insurance environment.
• Bachelor’s degree, or a minimum of 10 years of relevant employment experience in a life and/or health insurance environment with the stated Key Responsibilities.
• Proficiency in form development and product drafting.
• Proven track record of filing products, overcoming regulatory objections, and obtaining timely approval for speed to market.
• Extensive experience with state and federal insurance statutes, regulations, and regulatory processes with an exceptional ability to interpret and apply complex laws and regulations.
• Demonstrated experience building and maintaining strong, reliable relationships with insurance regulators, industry trade organizations, and industry peers.
• Executive level communication and problem-solving skills with the ability to influence, advise, and partner across all levels of the organization to help guide the company through its business challenges and assist in developing practical solutions.

Preferred Qualifications

• JD or advanced degree in legal studies, compliance, or a related field.
• Experience with state and federal Privacy laws.
• Experience with regulatory exams and market conduct reviews.
• Professional industry designations (e.g., FLMI, AIRC).
   

The pay range provided is not a guarantee of compensation. The range reflects potential pay for the job grade for this role at the time of this posting. Compensation will depend on several factors such as specific competencies, relevant education and experience, qualifications, and industry certifications. Compensation ranges are subject to change and may be higher or lower than the range described above.

Provided eligibility requirements are met employees will be eligible for the following benefits:

• Medical
• Health Savings Account (including employer contribution)
• Dental
• Vision
• Basic Life Insurance (full premium paid by employer)
• Voluntary Employee, Spouse and Child Life Insurance
• Short-Term and Long-Term Disability
• Paid Holidays
• Paid time off including vacation, personal days, and sick time
  • The amount of time off varies based on tenure and hours worked
• 401(k) and Profit-Sharing retirement plan
  • The company matches contributions up to 2% provided the employee contributes a minimum of 3%
  • The company may make a discretionary contribution to the Profit-Sharing plan

We invite you to learn more about Guarantee Trust Life by visiting our website: www.gtlic.com.

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