Our client, a leading insurance company located in White Plains, NY, seeks a Temporary Compliance Paralegal to support members of the Legal and Compliance teams with various projects and strategic initiatives and work with both internal and external partners on legal, compliance and related matters. The Compliance Paralegal will independently manage multiple tasks relating to record management, project tracking, budgeting and invoice management and administrative support, and will develop, implement and maintain appropriate processes and protocols to support compliance, tracking and reporting requirements. This role is on-site Monday - Friday. This position is a 6 month role with a possibility of converting to a full-time position. Hourly rate is $32-$37.
Duties and Responsibilities:
- Compliance Management Support and Reporting: Actively support compliance management efforts by developing and maintaining department guidelines, protocols and processes, including managing systems used to monitor progress and the timely implementation of Legal and Compliance projects. Draft and maintain Standard Operating Procedures (SOPs), manuals and other written guidance for internal associates and external partners to support compliance management responsibilities. Research and track regulatory developments to update Compliance policies and procedures. Review and interpret legislative bulletins, comparing legislative requirements to current work processes, to determine if changes are needed to processes, systems or forms in order to maintain compliance requirements. Identify, record, investigate and escalate alleged non-compliance with laws, regulations and Company policies for appropriate handling. Work collaboratively with business units and/or other internal and external stakeholders as needed in connection with assigned duties. Participate on the Company Compliance Action Team to help implement compliance requirements. Participate in the evaluation of overall process effectiveness and identify areas for process improvements. Lead efforts and work with internal subject matter experts to review and revise compliance training in accordance with requirements and company guidelines. Work closely with Training and Organizational Development to ensure that required compliance training is completed. Stay current on department functions, systems and procedures and understand how process and systems interact and affect other areas of the Company. Work independently, making daily decisions for the department relating to processes and procedures.
- Records Management and Reporting: Responsible for records management: tracking, organizing and filing of contracts, legal documents, presentations and correspondence, including overseeing the effective use of Legal Tracker for legal, compliance and general records management. Maintain inventory of legal and compliance SOPs, track review due dates and coordinate reviews of SOPs with management. Assist with corporate transactions (e.g., contract review, due diligence management and document reviews). Develop and distribute new and enhanced reporting for litigation and other legal-related matters. Collect, prepare and review documents and other information related to business transactions, litigation or other requests, and track matters to completion. Recommend and implement enhancements and process improvements based on an assessment of available regulatory and compliance systems and processes.
- Budgeting and Invoice Management: Regularly review department budget and reports to identify concerns or issues with established budget levels, escalating as appropriate to management and stakeholders. Effectively use electronic systems for legal expense management (e.g., customizing the system, setting up and maintaining matters, processing legal invoices for payment, budget tracking and reporting). Collaborate with Legal and Compliance teams, Finance and other business partners to ensure accurate budgeting and invoice management. Ensure all payments are approved and paid timely. Research and resolve any billing issues and payment matters.
- Administrative Support: Schedule meetings, facilitate discussions, document project plans and requirements and keep projects on track through completion. Prepare PowerPoint presentations and other periodic reports as needed. Assist with communication and tracking of compliance updates to external partners (e.g., MGUs and TPAs). Create and distribute customized reports using various electronic systems (e.g., RegEd CODE tasks related to assigning and closing records). Effectively manage sensitive issues and maintain confidentiality. Recommend and implement enhancements and process improvements based on an assessment of available regulatory and compliance systems and processes.
Requirements:
- Bachelor's Degree
- Demonstrated knowledge of insurance industry, business units and regulatory requirements.
- Proven excellence with Microsoft Office, especially Word, Excel and PowerPoint.
- Verbal and written communications are to conform to proper rules of punctuation, grammar, diction and style.
- Demonstrated high level of attention to detail and excellent organizational skills.
- Demonstrated experience identifying, defining and resolving problems, and collecting and interpreting data to establish facts, draw valid conclusions and provide effective resolutions.
- Demonstrated experience working as part of a team developing cooperation and collaborative work efforts toward solutions that benefit all parties involved.
- Demonstrated experience applying sound decision-making when dealing with multiple alternatives and choices.
- Demonstrated effective verbal and written communication skills with the ability to convey information to internal and external customers in a clear, accurate, focused and concise manner.
- Demonstrated ability to document procedures and activities in a manner that is understandable to others and prepared using a prescribed format.
- Proven examples of experience leading projects and the ability to manage multiple priorities simultaneously.
- Proven research, problem-solving and analytical skills, including experience using various websites and reference manuals/tools.
- Demonstrated ability to take decisive action.
- Experience with legal research engines (e.g., Westlaw).
- Experience with Microsoft Office, especially Word, Excel and PowerPoint.
- Ability to learn and use electronic compliance programs (e.g., RegEd (Code) and Thomson Reuters Legal Tracker).
- Ability to learn and use electronic programs.