Deputy Director, Compliance

Overview of Role:

The Deputy Compliance Director is responsible for supporting the Compliance Director in all aspects of the Fund Office’s compliance with financial and reporting regulations pertaining to the administration of its retirement and health & welfare employee benefit and other (i.e., legal, training) funds. This responsibility includes assisting with planning, directing, developing, and implementing policies, programs, standards, and procedures to ensure compliance with all relevant local, state, and federal governmental regulations and requirements. The incumbent remains informed of all plan provisions and current in knowledge about the legal and regulatory environment governing employee benefit plans and is widely recognized by colleagues and other professionals for technical competence and advisory skills. Integral to the role is the ability to interpret and operationalize relevant laws and regulations with an eye towards operational efficiency.

Key Job Responsibilities:

Key responsibilities include but may not be limited to:

• Maintaining and updating the Compliance Calendar and monitoring organization-wide compliance with key deadlines.
• Communicating with union officials, employers, members, professional advisors (e.g., auditors, attorneys, actuaries, investment managers, investment performance advisors, custodians, third party administrators, insurance carriers, computer system representatives, etc.) and governmental agencies on compliance requirements.
• Establishing and maintaining written compliance-related policies and procedures and leveraging innovative technology to implement such policies and procedures.
• Working closely with outside counsel to facilitate the resolution of issues and to develop guidance on relevant laws and regulations.
• Participating in workplace committees and meetings and reporting back to the Compliance Director regarding key issues and developments.
• Monitoring day-to-day operation of the pension, annuity and health processing functions and overseeing the performance of service providers responsible for the administration of the health & welfare plan and other funds (i.e., legal, training).
• Monitoring compliance of plan documents with regulatory and legal requirements through the use (and installation of, if needed) internal control systems. Assisting with drafting and review of Summary Plan Descriptions, Summary of Material Modification, and other compliance documents.
• Conducting periodic audits of the Fund’s policies, procedures and operations to identify transactional and systemic problems and, as needed, developing and implementing training and process improvements to bring about compliance.
• Tracking laws and regulations and maintaining contact with external industry contacts and professional organizations as a means of keeping current on regulatory events, trends and other related situations that could affect the Fund’s benefit plans and operations.
• Overseeing the Funds’ Vendor Risk Management program and working with outside vendors to achieve risk management goals.

Key Experience Requirements:

• Law degree required
• Minimum of 7-10 years of employee benefits related regulatory and/or compliance experience to include accountability for leading or providing significant leadership- oriented support to a relevant function/unit to include direct involvement with executive-level decision making. Union environment experience desirable.
• Broad-based knowledge of the legal, regulatory, and related administrative aspects of human resources, pension and health & welfare benefit plans and programs to include contractual laws and regulations pertaining to ERISA, HIPPA, IRC and other relevant fiduciary responsibilities and requirements.
• Proficiency in relevant computer applications and software to include automated claims processing and benefits administration systems.
• Excellent communication skills (oral/written) with ability to relate to and influence diverse audiences.
• Demonstrated record of accomplishment in identifying quality and operational improvement needs and, developing solutions and implementing action and/or change in response.

Critical Success Factors and Behavior:

• Technical Competence:
  - Depth and breadth of knowledge in relevant concepts, applications, services, processes, and products.
  - Analytical ability and approach to identifying and diagnosing problems and their solutions.
  - Proficiency in relevant computer applications and software.
  - Project management skills to include planning, budgeting, controlling quality assurance and delivery.
  - Orientation to consistently achieving high quality outcomes.
• Achiever Orientation:
  - Determining what needs to be done, following through to completion, anticipating and going beyond what is expected.
  - Knowing self-limits and consistently working to improve own efficiency.
  - Establishing high standards of professionalism, setting and achieving professional and personal goals, owning responsibility for self-development and the development of others.
  - Persistency in achieving desired results, holding self and others accountable.
• Business Acumen:
  - Awareness of external best practices and trends in specialty area and working to import relevant new concepts and approaches.
  - Awareness of one’s function and its impact on the operating efficiency and profitability of the organization.
  - Analyzing the consequences of decisions and actions before acting and exercising good judgment in determining when and how much risk should be taken.
  - Demonstrating a clear commitment to the organization’s well-being, acting as a positive role model for others, taking and encouraging action to grow an organization’s business and/or its effectiveness.
• Organization Awareness:
  - Understanding and effectively operating within the culture, climate, and politics of an organization.
  - Identifying who the real decision makers are and the individuals who can influence them.
  - Recognizing unspoken organizational limitations and, what is/is not possible at certain times and in certain circumstances.
  - Predicting how new and/or external events and situations will affect individuals and groups within an organization.
• Change Leadership:
  - Ensuring that the right people and/or processes are in place to produce excellent business results.
  - Defining and/or raising the bar on performance levels of individuals and/or groups.
  - Defining and articulating a plan or clear set of objectives in a compelling manner that fosters a consistent understanding across diverse groups.