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Senior Regulatory Consultant

at UNUM in Portland, Maine, United States

Job Description

Job Posting End Date: February 04

Unum is a company of people serving people. As one of the world’s leading employee benefits providers and a Fortune 500 company, Unum’s financial protection benefits help protect more than 36 million working people and their families from the financial impact of illness or injury.

Unum’s two distinct, but similarly focused US businesses – Unum US and Colonial Life – are each a market leader in making disability, life, accident, critical illness, dental, and vision insurance accessible in the workplace.

Headquartered in Chattanooga, Tennessee, Unum also has significant US operations in Portland, Maine and Baton Rouge, Louisiana – and over 35 field offices nationwide. Colonial Life is headquartered in Columbia, South Carolina with over 40 field offices nationwide.

General Summary:

Job Profile Summary

This position is the highest level individual contributor role accountable for driving and implementing the daily operations that support the Regulatory team’s core accountabilities, including product development, legislative compliance, regulatory and product form filings, regulatory examinations, regulatory inquiries and complaint resolution.

This role will demonstrate expertise and fluency in reading, analyzing, and interpreting laws, rules, and regulations, as well as other communications such as complaints and market conduct reports, to determine impact to the company and potential risk exposure. In connection with advising on and leading implementation of appropriate actions to maintain regulatory compliance, the incumbent will lead and be accountable for monitoring team workflow, processes, and procedures, through day-to-day complex problem solving, timely and efficient distribution of work, management of competing priorities, sophisticated risk assessment, timely and effective issue resolution, and provision of technical coaching. The incumbent will also work with the management team to develop strategies, tools, and resources to support core accountabilities. This position is seen as a subject matter expert skilled in interactions, discussions , and negotiations with government authorities, senior company management, sales and field personnel, and related legal and technical resources within and outside the company.

Principle Duties and Responsibilities

This role will be responsible for driving and implementing tech solutions for the regulatory team.

+ Responds to and supervises others’ responses to complex inquiries and requests from state insurance departments, other state and federal regulators, and others both within and outside the Enterprise.

+ Researches, interprets, consults on and applies laws, regulations, and bulletins. Implements appropriate actions to ensure product portfolios and filed forms remain in compliance in response to regulatory activity.

+ Is accountable for ensuring appropriate actions are taken in response to regulatory directives, bulletins, and data calls. Oversees regulatory report filing initiatives.

+ Provides expert multi-level and multi-issue consulting and advisory services on regulatory issues.

+ Oversees teammates to ensure the product development, regulatory exam and/or complaints processes are being properly managed and followed.

+ Utilizes expert level project management skills to lead, manage, and deliver results for large, complex, cross-functional project initiatives within established timeframes and quality measures. Translates project goals/objectives into a defined future state and project success measures that can be understood by project stakeholders, project team and others.

+ Provides strategic coaching, leadership, and training to business partners and department personnel to develop subject matter expertise in support of key regulatory accountabilities and reduce or mitigate regulatory and compliance risk across the Enterprise.

+ Develops and implements communication and reporting mechanisms to manage issues, risks, and timely delivery of initiative results. Partners with management team to identify and address regulatory compliance concerns for corrective action and recommend next steps and implementation plans.

+ Establishes and maintains positive customer relationships, both internal and external, as well as actively cultivating and maintaining relationships with state regulators. Liaises with trade groups by phone and/or at industry meetings and conferences to help advance company priorities and identify best practices.

+ Leads the identification of productivity and workflow process improvement opportunities. Makes broad recommendations for improvement and develops, implements, and monitors recommended solutions.

+ May perform other duties as assigned

Tech-Specific Duties and Responsibilities

+ Leverages advanced data analytics to identify regulatory trends.

+ Discovers, designs, and implements advanced SharePoint (or equivalent) solutions for the Regulatory team; manages SharePoint (or equivalent) implementations from initial installation to maintenance and further customer design; serves as the point of escalation for highly complex technical issues or questions on SharePoint (or equivalent).

+ Develops and drives new, innovative technology practices that significantly minimize risk, achieve compliance with legal and regulatory requirements, and provide process efficiencies for the Regulatory team.

Job Specifications

+ Bachelor’s Degree or seven plus years related business experience plus a minimum of five years of regulatory experience

+ Demonstrated deep business knowledge and strategic understanding of the insurance industry and expert understanding of the associated compliance and regulatory environment

+ Strong verbal and written communication skills. Expert at flexing communication style to suit various audiences

+ Excellent attention to detail

+ Demonstrated expertise in problem solving and analytical thinking, with a strong results-focused orientation

+ Strong organizational and project management skills, including proven ability to manage multiple concurrent complex projects or priorities for a variety of stakeholders

+ Proven effective leadership and interpersonal skills, including demonstrated ability for successful partnering and building effective relationships across reporting levels and teams both internally and externally

+ Demonstrated ability to resolve conflicts and negotiate to reach successful resolution of issues

+ Extensive technical skills (including Microsoft Office Suite and SharePoint or equivalent) and expertise in data analytics and reporting

+ Expert at research, including expertise in interpreting and applying laws, rules and regulations and performing analysis, anticipating barriers, and making appropriate, thoughtful, and creative recommendations for solutions

+ Strong expertise in identifying, analyzing, and communicating about potential regulatory risk areas and developing remediation or mitigation strategies

+ Strong desire for continuous improvement, with demonstrated leadership in the area of process improvements

+ Highly self-motivated, with a demonstrated ownership mindset

+ Strong in-depth knowledge of Unum Group and its insuring subsidiaries’ products, business processes and functional areas preferred

\#LI-LM2021

Our company is built on helping individuals and families, and this starts with our employees. We want employees to maintain a positive balance, which is why we provide access to the benefits and resources they need to invest in themselves. From our onsite fitness facilities and generous paid time off to employee professional development programs, we are committed to helping employees live and work their best – both inside and outside the office.

Unum is an equal opportunity employer, considering all qualified applicants and employees for hiring, placement, and

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Job Posting: JC197867357

Posted On: Nov 18, 2021

Updated On: Jan 21, 2022