Manager - Regulatory Compliance (Contract)

Company Description
Sia Partners is a unique management consulting firm composed of 850+ passionate consultants who drive business changes among our customers. Through unparalleled industry expertise, we deliver superior value and tangible results to our clients in over 21 sectors and service teams.Financial institutions has drastically changed over the last decade and further evolutions are yet to come. Regulatory constraints have driven most of these transformations, but the disruptive revolution is much more complex and cannot be limited to the latter. Business models must be adapted within each business line and operating models must take into account industrial partnership, outsourcing or strategic alliances. Sia Partners assists its clients in coping with these transformations in order to improve their competitive advantages, flexibility productivity and profitability: strategic deployment, financial performance, business process optimization, digitalization, risk and regulatory adherence.Sia Partners in NYC is hiring a contractor with ACH Regulatory knowledge.Thanks to Sia Partners’ international footprint, the Financial Services practice is strategically located in all major financial and energy hubs (New York, Charlotte, UK, Europe, and Asia Pacific) and our integrated model allows teams from different countries to easily partner, when appropriate.Job Description
Role Type: ContractorProject: Insurance Regulatory ComplianceDuration: 14 weeksLocation: Remote/Charlotte/New York/TorontoROLE OVERVIEW
We are seeking a subject matter expert (SME) in insurance regulations and compliance to support one of our key insurance clients. This contractor role will focus on conducting a regulatory compliance review at the federal and state level to identify gaps that may exist in policies, procedures, standards and controls for life insurance, health, other employee benefits, and annuities offered by insurance carriers. The ideal candidate will have solid knowledge of insurance regulations (federal and state level), advanced proficiency with AI-powered compliance tools, and proven expertise in conducting comprehensive gap analyses.KEY RESPONSIBILITIES
Serve as the main point of contact with the Client, driving the day-to-day execution and delivery of the project objectives and milestonesServe as a subject matter expert on Insurance carrier operations and regulationsLeverage understanding of both state and federal level regulations applicable to insurance carriers offering Life, Health and other Employee Benefits to complete a gap analysis between state and federal level regulations against our clients’ policies, procedures, standards and documented controlsManage a team of junior consultantsDeploy RegAI (Sia's proprietary reg review and reg matching AI agent) to help deliver the final report;
utilize RegAI to accelerate regulatory text analysis, requirement extraction, and gap identificationAnalyze and interpret complex regulatory language across multiple jurisdictions and translate into specific compliance obligations as well as specific requirementsReview and assess internal documentation for completeness, accuracy, and alignment with regulatory requirementsDevelop detailed gap analysis matrices, compliance assessment reports, and prioritized remediation recommendationsQUALIFICATIONS
5+ years of insurance carriers regulatory compliance and controls experience in risk or regulatory rolesDemonstrated expertise in conducting comprehensive gap analyses between regulatory requirements and organizational policies, procedures, standards, and controlsDeep expertise in insurance regulations focused on life Insurance, medical, dental and other employee benefits at the federal and state levels including NAICAdvanced ability to read, interpret, and extract specific compliance obligations from complex regulatory texts (statutes, regulations, bulletins, guidance documents)Experience with insurance regulatory frameworks including ORSA, ERISA, AML, OFAC, and SOLProven experience mapping regulatory requirements to internal control frameworks and identifying control deficienciesExperience in KYC/AML and financial crime controls for insurance productsStrong analytical skills with ability to systematically compare regulatory standards against documented policies, procedures, and controlsStrong understanding of insurance products (life insurance, annuities, health insurance, disability, dental, vision, and other employee benefit products)Extensive experience reviewing and assessing compliance documentation, policy manuals, procedure documents, and control descriptionsProficiency in using technology tools for compliance reviews, including AI-powered regulatory intelligence and analysis platformsDemonstrated ability to quickly learn, adopt, and effectively deploy new AI applications for regulatory analysis and gap identificationStrong project management skills with ability to manage multiple workstreams simultaneouslyExperience creating compliance matrices, gap analysis reports, control assessment documentation, and remediation roadmapsExcellent communication and client-facing skills, including ability to present complex findings and recommendations clearlyBachelor's degree in relevant field (Finance, Business, Law, or related discipline)PREFERRED
Experience with multi-state regulatory requirement analysis, comparison, and harmonization for insurance carriersKnowledge of insurance carrier operations, underwriting, claims, and distribution compliance requirementsProficiency with AI tools, machine learning applications, natural language processing (NLP), or regulatory technology platformsHands-on experience with compliance automation tools, RegTech solutions, or AI-powered document analysis systemsBackground in data analytics, compliance testing methodologies, or control assessment frameworksExperience with document management systems, compliance workflow tools, or regulatory change management platformsExperience with conducting control self-assessments (CSAs), control testing programs, or internal compliance auditsExperience with executive presentationsBackground in process documentation, procedure writing, and control designCORE COMPETENCIES
Insurance Regulatory ExpertiseAI Tool Proficiency & Technical AdaptabilityLeadershipClient Relationship ManagementCommunication SkillsProblem-SolvingAttention to DetailBusiness AcumenDocumentation Review & AnalysisRegulatory Mapping & Requirements ExtractionCritical Thinking & Pattern RecognitionProcess Analysis & ImprovementEXPERIENCE REQUIRED:
Regulatory Analysis & Gap Assessment Expertise7-10 years in insurance industry with at least 5 years focused on regulatory compliance analysis, gap assessments, and control evaluationsExtensive experience reviewing and analyzing federal and state insurance regulations with ability to identify and extract specific compliance obligationsProven track record conducting comprehensive gap analyses comparing regulatory requirements against organizational policies, procedures, standards, and controlsExperience creating detailed compliance requirement inventories, control mapping documentation, and gap analysis matricesDemonstrated ability to identify control weaknesses, documentation gaps, and areas of non-compliance in insurance operationsStrong skills in assessing policy and procedure documentation for completeness, clarity, and regulatory alignmentProduct & Regulatory Knowledge
Solid understanding of federal and state regulatory requirements for life insurance products including term, whole life, universal life, variable life, and indexed universal lifeComprehensive knowledge of health insurance regulations including ACA requirements, state insurance codes, medical loss ratio rules, and network adequacy standardsExpertise in employee benefits regulations including ERISA, HIPAA, COBRA, and state-specific group insurance requirementsUnderstanding of annuity regulations (fixed, variable, indexed) including suitability, best interest, and disclosure requirementsFamiliarity with dental, vision, disability, and other ancillary benefit regulationsKnowledge of NAIC Model Laws and Regulations, state variations, and ability to compare requirements across jurisdictionsUnderstanding of insurance carrier compliance obligations including form and rate requirements, market conduct standards, and consumer protection rulesAI & Technology Proficiency
Proven ability to quickly learn new AI applications and integrate them effectively into compliance workflowsExperience leveraging technology to accelerate regulatory review processes, improve accuracy, and enhance gap analysis qualityProficiency with data analysis tools, compliance databases, regulatory intelligence platforms, or document analysis systemsGap Analysis & Documentation Skills
Expert-level ability to review policies, procedures, standards, and control documentation for completeness, accuracy, and regulatory alignmentProficiency in creating gap analysis matrices, compliance assessment reports, control evaluation summaries, and remediation roadmapsStrong documentation skills with ability to clearly articulate gaps, deficiencies, and recommendationsAbility to prioritize gaps based on regulatory risk, business impact, and remediation complexityExperience synthesizing findings from multiple sources into comprehensive compliance reportsAdditional Information
All your information will be kept confidential according to EEO guidelines.Sia is an equal opportunity employer. All aspects of employment, including hiring, promotion, remuneration, or discipline, are based solely on performance, competence, conduct, or business needs.We do not use artificial intelligence to screen or make decisions about candidates. Limited AI tools may be used for administrative or operational purposes in the recruitment process.Sia is an equal opportunity employer. All aspects of employment, including hiring, promotion, remuneration, or discipline, are based solely on performance, competence, conduct, or business needs.
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