Job Description
The Audit and Regulatory Controls Team Leader is responsible for the oversight of the coordination of all regulatory and audit control functions within Operations. This includes working across the organization to ensure that the appropriate regulatory and audit controls are being met along with developing recommendations and remediation strategies as regulatory needs change.
We’ve embraced a flexible, hybrid approach to work. Based on your role and personal preference, we empower you to choose where you work best. This model allows you to balance your life and bring your whole self to work.
Responsibilities
Regulatory Compliance:
- Monitor enacted legislation and adopted regulations which impact Penn Mutual’s lines of business and operations including issued States of Emergencies and coordinate plans of action.
- Actively manages the Unclaimed property function; which includes but is not limited to the Death Master File reconciliation process.
- Participates in special projects to support the business strategy especially as they relate to audit, compliance, and legal initiatives.
- Partner with the Compliance Department in identifying areas of risk and makes recommendations on operational improvements, processes for compliance, quality assurance and any additional training essential to mitigate risk.
- Examine policies, procedures, and practices to ensure compliance with laws and regulations and implement any needed changes
Audit Support
- Coordinate and support internal and external audits within Operations, ensuring all documentation is prepared and accessible.
- Provides oversight and tracking for recommendations and remediation strategies for internal audit, internal controls, and regulatory findings. Includes partnering with business leads in the review, analysis, and development of recommendations and remediation strategies as regulatory needs change with a key focus on State Market Conduct Exams.
- Collaborates with Product Owners and/or vendors to pursue streamlined audit solutions that are aligned with budget and performance requirements.
- Team Leadership:
- Lead, mentor and develop the regulatory and audit support team, fostering a collaborative and high-performance culture.
- Provide training and support to staff on regulatory and audit best practices.
Skills And Abilities
- Proven leadership experience in developing audit and regulatory support initiatives within the life insurance industry.
- Experience in building and managing teams focused on Audit and Regulatory Support.
- Strong analytical skills with the ability to interpret data, identify trends, and make data-driven decisions to improve business outcomes.
- Deep understanding of audit methodologies, and regulatory requirements in the financial services industry.
- Demonstrated ability to drive strategic initiatives, manage teams, and deliver results in a complex organizational environment.
Education
- Bachelor's Degree in Business Administration, Accounting, Finance, Insurance, or a related field Required
Experience
- Minimum of 5 years of progressive experience in the life and annuity industry, with significant experience with audit and regulatory oversight. Required
Base Salary Range: 80,500 - $115,000
For over 175 years, Penn Mutual has empowered individuals, families and businesses on the journey to achieve their financial goals. Through our partnership with Financial Professionals across the U.S., we help instill the confidence and reliability that comes from a stronger financial future. Penn Mutual and its affiliates offer a comprehensive suite of competitive products and services to meet the unique needs of Financial Professionals and their clients, including life insurance, annuities, wealth management and institutional asset management. To learn more, including current financial strength ratings, visit www.pennmutual.com.
Penn Mutual is committed to Equal Employment Opportunity (EEO). We provide employment and advancement opportunities to all qualified applicants and associates, according to applicable laws. This is reflected in our practices for hiring, placement, promotion, transfer, demotion, layoff, termination, recruitment, compensation, selection or training, and all other terms and conditions of employment. All employment-related decisions and practices are free from unlawful discrimination. This includes: race, creed, color, national origin, ancestry, citizenship age, gender (including pregnancy), sexual orientation, gender identity or expression, domestic partnership or civil union status, marital status, genetic information, disability, religious observance or practice, liability, veteran status or any other classification protected under applicable law.
