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Compliance Specialist

Posted Jun 10
Full Time
Schaumburg, Illinois

About Marsh McLennan Agency Midwest

Marsh McLennan Agency’s Midwest Region is a full-service brokerage providing business insurance, employee benefits, private client insurance, and retirement services to businesses and individuals across the country. MMA Midwest is consistently recognized as a top workplace, attracting and retaining its insurance talent by rewarding expertise and investing in career development. Colleagues enjoy an award-winning culture that fosters a highly productive and results-driven working environment.

The Compliance Specialist plays a vital role in supporting the regional compliance program as the liaison for legal and contractual matters. They collaborate with regional leaders and MMA’s national legal team to provide advice and proactive support to colleagues within the region and ensure adherence to policies and state and federal regulations. The Compliance Specialist l drives continuous improvement to the overarching compliance program and serves as a subject matter expert on national and regional policies, procedures and best practices.

Contract Management

  • Manages the review, negotiation, administration, and occasional draft of contractual agreements, including, but not limited to: client service and fee for service, non-disclosure, business associate, carrier, vendor, third-party provider, and other agreements as requested
  • Serves as the key point of contact to ensure inquiries are appropriately addressed, escalated and resolved
  • Navigates the contract review process with a holistic approach to understanding business needs in conjunction with client requests
  • Ensures compliance with MMA standards, contract development and language
  • Develops and maintains procedures for contract management and administration which adhere to regulatory requirements and MMA best practices

Compliance Program Management

  • Remains current on legislative and regulatory changes impacting the compliance program
  • Maintains internal documentation and procedures, allowing for colleagues and leaders to navigate compliance-related inquiries with clarity
  • Collaborates with internal teams to ensure adherence to legal and compliance standards
  • Assists in creating internal compliance tools, procedures and resources; follows regional best practices from a legal perspective that adequately align with national best practices
  • Identifies necessary communication updates for internal teams and clients

Quality Assurance and Standards

  • Serves as point of contact for any internal or external audits conducted in relation to legal matters
  • Ensures accountability expectations are met in partnership with appropriate regional leadership; utilizes tools to measure progress to achieve desired standards and results
  • Collaborates with Business Process, Client Services, and Information Technology to implement improvements to internal audit functions, processes and procedures

Change Management

  • Consistently follows MMA’s change management best practices and sets an example for other leaders within the organization
  • Applies change management principles to projects and in all interactions with internal clients; this includes fostering an interdisciplinary approach and engaging other departments to achieve outcomes
  • Identifies the impact of change on stakeholders and makes recommendations on how to successfully execute a change management strategy to achieve desired results
  • Demonstrates the ability to use project planning and tracking tools and leverages these tools to keep all stakeholders informed, aware of key milestones and progress that’s being made toward achieving desired results

Required

  • Minimum of 3 years of experience in contract management, paralegal work, or legal and compliance roles
  • Paralegal certification
  • Experience within the insurance brokerage industry
  • Strong understanding of contract development, standards, and language
  • Proficient in Microsoft Office applications (Word, PowerPoint, Excel) and project management tools

Preferred

  • Bachelor's degree in a relevant field
  • Proficient in Microsoft SharePoint and PowerBI applications

A Great Place to Work. A Great Place to Perk.

Recognized for workplace culture by the likes of Fortune Magazine, The Chicago Tribune and more, our colleagues enjoy an environment that fosters creativity as well as individual and organizational growth. A small sampling of the benefits our colleagues enjoy include:

  • Medical, dental, vision, 401K benefits and more
  • The flexibility to work at home or an office
  • A paid day off to volunteer and company-organized volunteer events
  • Up to $1,000 per year in matching charitable donations
  • Up to $750 per year in wellness rewards
  • A company-wide mentality that you can never appreciate your co-workers too much

Who You Are Is Who We Are

MMA Midwest has created an award-winning culture largely due to meeting our colleagues where they are, celebrating their differences and building an inclusive environment. We challenge ourselves to create a workplace where our colleagues feel not only welcomed, but feel they belong; where we not only embrace diverse perspectives and opinions but seek them out; and where we ask not how a colleague fits our culture, but what they add to it.

#MMAMW