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Risk Management and Compliance Assurance Lead Consultant

Employer
Allstate Insurance Company
Location
Northbrook, Illinois
Salary
Not Specified
Closing date
Mar 23, 2019

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Job Details

Where good people build rewarding careers.

Think that working in the insurance field cant be exciting, rewarding and challenging? Think again. Youll help us reinvent protection and retirement to improve customers lives. Well help you make an impact with our training and mentoring offerings. Here, youll have the opportunity to expand and apply your skills in ways you never thought possible. And youll have fun doing it. Join a company of individuals with hopes, plans and passions, all using and developing our talents for good, at work and in life.

Job Description

This job is responsible for leading End-to-End Business Process Assurance and Advisory reviews across the Claims organization to assess and evaulate internal controls and compliance health. This job is responsible for advising and influencing Home Office and Field leaders and staff on risk identification, fraud detection, and compliance with regulatory and internal controls. This job manages complex risk and compliance projects to address and implement process changes that mitigate or identify risk. This job identifies and advises leadership on operational risks and consequences of changes, intended or unintended, and proposes solutions. This job serves as a liaison to all disciplines to ensure various risks (operational, compliance, governance, or risk itself) are addressed with the appropriate resource and may serve as a subject matter expert, project manager, or Field liaison for one or more specific risk areas. This job may have direct reports. The individual also delivers compassionate service that is fast, fair, and easy, to ensure customer retention. The individual works independently, prioritizes the individual's own responsibilities, and manages the individual's own workload. The individual consistently meets band level behaviors, production, quality and/or customer service goals.

Key Responsibilities

Risk Management and Compliance

  • Oversees compliance of one or more areas within the Claims organization
  • Uses advanced knowledge to identify, monitor, and report on operational risk for the Claims Field and Home Office leadership and staff, assess the identified risk, and determine the level of tolerance for the risk or if the risk needs to be mitigated; recommends appropriate risk strategy based upon risk tolerance level and risk thresholds
  • Understands Claims technology and its relationship to downstream systems and assesses proposed process/technology changes for understanding of intended and unintended consequences so that all risks are addressed
  • Analyzes risks to the company; sets context and collaborates with, advises, and influences management and field claims offices on ways to address, mitigate, avoid or transfer the risks
  • Identifies, reports, and escalates risk to the appropriate areas and levels
  • Participates in and/or leads leadership meetings with risk management professionals on regulatory and internal control issues
  • Utilizes analytical ability to determine actual root causes providing alternative solutions and recommendations that address causes rather than symptoms
  • Oversees the creation and updating of policy manuals for adherence to regulatory and compliance procedures
  • Influences project teams and management so that risk based decisions are reached
  • Monitors and tracks completion of compliance files; works with teams to identify, analyze, prioritize, and propose resolution of non-compliance issues
  • Analyzes data to identify trends or facilitate alternatives and recommends best approach
  • Liaises with Home Office, Legal, and Compliance partners both inside and outside of the Claims organization to assist in designing, developing, implementing, and monitoring effective controls
  • Provides and analyzes monthly results for leadership knowledge and understanding
  • Monitors the inventory of various disciplines' compliance files to ensure projects are being actively worked to address any new law or noncompliance issue
  • Works across Claims on compliance risks/issues, ensuring all aspects of a new law or identified noncompliance issue are addressed and all required elements for closure are included
  • Communicates with Field and Home Office leadership to ensure that communications about new laws are received and understood; answers questions and inquiries as needed
  • Partners with Legal regarding any changes needed to processes or forms
  • Influences and provides subject matter expertise to Compliance Managers regarding various regulatory or internal control issues
  • Responds to complex inquiries regarding internal controls and regulatory compliance from internal and external auditors and other regulatory bodies

Project Management

  • Utilizes project management skills and methodologies to assign project work, keep stakeholders adequately informed, and to set expectations and due dates
  • Leads risk management and mitigation projects to conclusion
  • Communicates desired project objectives and obtains agreement on project needs and anticipated outcomes
  • Completes timely and accurate project scope documents
  • Provides regular milestone updates on projects
  • Meets project objectives, deliverables and timelines

Job Qualifications

  • Bachelors degree in Accounting or related field required
  • 4 Years of Internal Auditing experience required
  • 1 Year of External Auditing, Assurance, Advisory and/or Consulting experience preferred
  • Risk identification, risk assessment, risk management, and risk monitoring experience preferred
  • Business process control design and testing skills preferred
  • SOX compliance & issue remediation skills required
  • Policy & procedure development skills preferred
  • Highly advanced and effective verbal & written communications skills preferred
  • Highly advanced peer and executive level presentation skills preferred
  • Highly advanced project management skills preferred
  • Ability to interact effectively, and coach others on interacting effectively, with internal or external customers and act with empathy
  • Applies highly advanced knowledge of insurance policy, coverage, and regulation
  • Applies highly advanced knowledge of claim processes, policies, procedures, claim systems and adherence to applicable legal compliance standards
  • Applies highly advanced industry knowledge to discipline practices, including best practices, to support the business operations
  • Ability to analytical procedures to reconcile, manipulate, and recognize patterns of data
  • Applies highly advanced knowledge of problem solving and preparation of complex reports for analysis
  • Applies highly advanced ability to leverage learned technical skills in support of team objectives
  • Applies highly advanced conflict management, negotiation and problem resolution skills in managing internal and external customer relationships
  • Applies highly advanced problem solving skills to continuously improve business outcomes
  • Ability to assist leadership in achieving business unit objectives
  • Applies highly advanced knowledge of training facilitation and coaching skills
  • Ability to investigate and evaluate complex claims processes
  • Applies highly advance skills to work within highly complex assignments requiring specialized knowledge in breadth and/or depth in area of expertise
  • Applies highly advanced skill in motivation, organization, training, coaching and facilitation of teamwork

Internal Candidates: The Hiring Manager will consider candidates for a CL7 band range too, if needed to reband at a later date.

The candidate(s) offered this position will be required to submit to a background investigation, which includes a drug screen.

Good Work. Good Life. Good Hands.

As a Fortune 100 company and industry leader, we provide a competitive salary but thats just the beginning. Our Total Rewards package also offers benefits like tuition assistance, medical and dental insurance, as well as a robust pension and 401(k). Plus, youll have access to a wide variety of programs to help you balance your work and personal life -- including a generous paid time off policy.

Learn more about life at Allstate. Connect with us on Twitter, Facebook, Instagram and LinkedIn or watch a video.


Company

COMPANY INFORMATION The Allstate Corporation (NYSE: ALL) protects people from life's uncertainties with more than 113 million proprietary policies. Allstate offers a broad array of protection products through multiple brands and diverse distribution channels, including auto, home, life and other insurance offered through its Allstate, Esurance, Encompass, SquareTrade and Answer Financial brands. Allstate is widely known from the slogan "You're in Good Hands with Allstate." The Allstate Corporation is the largest publicly held personal lines property and casualty insurer in America. Allstate was founded in 1931 and became a publicly traded company in 1993. In 2023, Allstate was number 84 on the Fortune 500 list of largest companies in America. WHAT WE DO We’re more than insurance agents and claims representatives. We’re individuals with hopes, plans and passions. The biggest of which is helping people live smarter, safer lives. Doing so means continuing to re-imagine how we do what we do, the impact we can make on the world, ways we can each succeed in our own careers and actions we can take as a company that are good for all. To do that, we need all kinds of people – including lawyers, accountants, building engineers, project managers, marketing professionals, human resource specialists and so many more. WHO WE ARE – INCLUSIVE DIVERSITY    We hold each other accountable to encourage and embrace our collective differences. It’s our individual characteristics, values and beliefs, along with backgrounds and experiences that give us fresh perspective and purpose. We work harder, meet customer needs more effectively, share better, and identify more innovative ideas when we are accepted for who we are by the world around us. Our success comes from a chorus of many different voices. At Allstate, every voice counts.​ In our stand against racism, we’ve been making changes within Allstate. We’ve been listening, learning and engaging in change. We are focused on improving equity for all. Allstate is committed to long-term change not only in the way we conduct our business, but also for our employees. There’s a dynamic environment waiting for you here. You’ll find people with similar interests, as well as the many who’ll help expand your horizons. We believe in the power of connections. That’s why Allstate promotes diversity through a robust network of employee resource groups. It helps connect us all and supports our unique talents. Here are some of the available resource groups that actively support our employees: Abilities Beyond Limitations & Expectations African American Working Network Allstate Asian American Network Allstate Foster and Adoption Network Allstate PRIDE Allstate Veterans Engagement Team and Supporters Allstate Women’s Information Network Entrepreneurs at Allstate Families at Allstate Matter Native American Peoples at Allstate Professional Latino Allstate Network Young Professionals Organization WHY JOIN OUR COMPANY Allstate has been protecting people from life's uncertainties since 1931. We continuously develop and improve products and services so our customers can live well protected. For employees, we offer an environment that fosters innovative thinking and collaboration - where you'll be able to explore your ideas and feel proud of the work you do.  Our Benefits Allstate is dedicated to helping employees live happier and healthier lives. As a Fortune 100 company and industry leader, we provide a competitive salary and a benefits package that includes medical and dental insurance, tuition assistance, as well as a robust pension and 401(k). Plus, you'll have access to a wide variety of programs to help you balance your work and personal life - including a generous paid time off policy.  Growth and Development We support your desire to grow and provide opportunities to learn, explore new horizons, and follow your passion in a meaningful career. From access to hundreds of learning opportunities to in-house networking and rotational work experiences, Allstate is a place where you can forge your own path and expand your personal and professional potential. 
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