Compliance & Risk Analyst

Company Description

Afficiency is a rapidly growing Insurtech startup whose mission is to provide life insurance to everyone on the platforms they already trust. Located in NYC, we design life insurance products that can be purchased entirely digitally and can be easily embedded into distribution platforms or with agents who sell insurance. The company is experiencing exponential growth and is well-funded. We are looking for new team members to join us on our journey to shake up the life insurance industry. We need individuals who bring passion, curiosity, and a desire for excellence.

We are seeking a self-starter; a proactive and self-motivated individual who thrives in a dynamic environment and can independently initiate and drive projects to completion.

Job Description

We are seeking a detail-oriented Compliance & Risk Analyst to support our risk and compliance team in ensuring adherence to regulatory standards and company policies within the life insurance industry. This role will report directly to the head of Compliance. We are looking for a team member who is eager to contribute to a growing team and gain valuable experience in regulatory compliance and risk management.

Responsibilities

• Conduct regular audits and reviews to ensure compliance with life insurance regulations and risk management practices, of company operations including:
  • underwriting engine and life insurance application performance in our platform, (as against business and underwriting requirements);
  • fraud detection processes, for the detection of suspicious agent activity;
  • and other internal policies, procedures, and controls
• Assist in preparing and organizing documentation for audit reports, executive oversight, and client meetings.
• Manage a ‘process exceptions’ workflow, coordinating investigation and resolution of failure & exceptions cases detected in day-to-day operations.
• Contribute to continuous improvement efforts, identifying opportunities for process improvement discovered during audit and review activities.
• Support other compliance activities as needed:
• Support the implementation of compliance policies and procedures, ensuring they are communicated effectively to relevant stakeholders.
• Assist in creating training materials to educate staff on compliance standards, updates, and best practices.
• Maintain a centralized record of all compliance-related documentation, ensuring version control and accessibility.

Qualifications

Must Have

• Minimum of 2 years in life insurance compliance or audit.
• Experience with digital/automated underwriting processes and providers.
• Understanding of compliance regulations and guidelines specific to life insurance and
• risk management.
• Demonstrated strong analytical and problem-solving abilities, including data discovery,
• review, and manipulation.
• Highly organized with the ability to prioritize and deliver multiple priorities in parallel
• with minimal supervision.
• Excellent written and verbal communication skills.

Nice to Have 

• Experience with instant decision, instant issue life insurance products.
• Experience with new business and sales activity, in particular for term life, whole life
• and/or participating life products.
• Experienced and comfortable with reviewing technical records, including review of API
• logs, AWS data, SQL databases and other technical performance data.

Additional Information

What We Offer

• Hybrid work environment (2 days in office) – must be located in NYC metro area
• Competitive salary with equity options
• Robust health, dental, and vision benefits for employee and dependents
• 401k matching contributions
• Generous PTO policy 
• Stipend to purchase work-from-home equipment.
• Work at a supportive and fast-growing startup with a fantastic team
• Environment to learn from other team members, grow a business from the ground up.
• Support in developing your skills and accelerating your career quickly.
• Opportunity to make an impact in the lives of tens of millions of consumers and get families the protection they need.

Work Arrangement

Hybrid-work environment must be located in the NYC metro area, in office 2 days a week.

Salary

$65,000-85,000 annually, commensurate with experience.

Afficiency is an equal opportunity employer.