Director Of Compliance

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Director of Compliance
Duties: Each client may have specific situations that will need interpretation when things fall outside normal process and procedures. Walk each client through the proper steps and provide assistance surrounding the potential liabilities associated with the options available. Educate clients on the various federal and state regulations, assess areas of weakness, determine potential liability, and provide tools to help the client avoid common pitfalls. HR, HIPAA, ACA and other Compliance Audits are often an ongoing process, provided as often as the client requires. Field and respond to compliance related questions from clients.Prepare and updateWrap SPD’s for clients. Perform Non-Discrimination testing for Self Funded clients. Monitoring a multitude of outlets to remain ahead of the latest changes to federal and state regulations. Upcoming changes passed legislation and final regulations are to be addressed through White Papers, Blog Emails, Legislative Updates and Lunch Events. Prepares and provide user-friendly documents and services to assist client-HR, and other relevant professionals, in meeting the ongoing administrative, reporting, and disclosure requirements required by governmental agencies. Provides and applies compliance knowledge to all compliance related issues to include: ERISA, COBRA, HIPAA, FMLA, DOL, Section 125 regulations, wrap documents, HRA and FSA documents and State level compliance. Manages the drafting of deliverables such as: Plan Documents (Summary Plan Descriptions), draft Wrap SPD Documents and draft Summary of Material Modifications, 5500 filings, Non-Discrimination testing and Summary Annual Reports. (Liaising with Consultants, Vendors and Clients to collect data to complete all documents will often be required). Defines and implements best practices and provides leadership for client compliance strategies, most importantly combines effective knowledge of compliance with an understanding of the client’s business objectives to design comprehensive compliance plans for clients. Creates and implements tools, forms, templates and checklists to be used by internal employees and clients to ensure compliance of ERISA and other regulations and laws. Participates and counsels clients in the event of DOL and/or ERISA benefit audits. Assists with wellness plan / population health compliance. Fosters and maintains relationships with existing clients and service as a compliance resource through offering compliance guidance and best practices. Provides new/upcoming legislation is current and helps organize and deploy information within organization. Produces briefs and newsletters for client communication relative to new developments related to compliance within the scope of employee benefits. Presents as a speaker and/or expert at client events and seminars relative to compliance related topics. Adopts and promotes the Innovative culture as a company who truly takes care of its’ people, defined as both customers and employees. This philosophy must manifest itself in each employee in their dealings with clients, prospects, vendors and any other person who engages with Innovative. Support efforts to generate new business with existing clients. Supports efforts to create new products or services and bring them to the market. Provides on-site and virtual training for staff, seminars on various topics, and ongoing materials summarizing the latest in benefits news. Develops IIF compliance process. Reviews Licensing and contracts. Serves in the role of IIF Chief Compliance Officer. Researches/analyzes and communicates benefits, Qualified Plan, regulations and laws. Reviews client’s Qualified Plans for compliance. Communicates findings to company principal and/or to clients. Secures quarterly compliance sign off from internal personnel. Provides written disclosure statement. Provides Privacy Notice. Completes Investment Objectives Confirmation letter/IPS (to the extent applicable).

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