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: Contractor
Project: Insurance Regulatory Compliance
Duration: 14 weeks
Location: Remote/Charlotte/New York/Toronto
ROLE 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 milestones
Serve as a subject matter expert on Insurance carrier operations and regulations
Leverage 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 controls
Manage a team of junior consultants
Deploy 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 identification
Analyze and interpret complex regulatory language across multiple jurisdictions and translate into specific compliance obligations as well as specific requirements
Review and assess internal documentation for completeness, accuracy, and alignment with regulatory requirements
Develop detailed gap analysis matrices, compliance assessment reports, and prioritized remediation recommendations
QUALIFICATIONS
5+ years of insurance carriers regulatory compliance and controls experience in risk or regulatory roles
Demonstrated expertise in conducting comprehensive gap analyses between regulatory requirements and organizational policies, procedures, standards, and controls
Deep expertise in insurance regulations focused on life Insurance, medical, dental and other employee benefits at the federal and state levels including NAIC
Advanced 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 SOL
Proven experience mapping regulatory requirements to internal control frameworks and identifying control deficiencies
Experience in KYC/AML and financial crime controls for insurance products
Strong analytical skills with ability to systematically compare regulatory standards against documented policies, procedures, and controls
Strong 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 descriptions
Proficiency in using technology tools for compliance reviews, including AI-powered regulatory intelligence and analysis platforms
Demonstrated ability to quickly learn, adopt, and effectively deploy new AI applications for regulatory analysis and gap identification
Strong project management skills with ability to manage multiple workstreams simultaneously
Experience creating compliance matrices, gap analysis reports, control assessment documentation, and remediation roadmaps
Excellent communication and client-facing skills, including ability to present complex findings and recommendations clearly
Bachelor's degree in relevant field (Finance, Business, Law, or related discipline)
PREFERRED
Experience with multi-state regulatory requirement analysis, comparison, and harmonization for insurance carriers
Knowledge of insurance carrier operations, underwriting, claims, and distribution compliance requirements
Proficiency with AI tools, machine learning applications, natural language processing (NLP), or regulatory technology platforms
Hands-on experience with compliance automation tools, RegTech solutions, or AI-powered document analysis systems
Background in data analytics, compliance testing methodologies, or control assessment frameworks
Experience with document management systems, compliance workflow tools, or regulatory change management platforms
Experience conducting control self-assessments (CSAs), control testing programs, or internal compliance audits
Experience with executive presentations
Background in process documentation, procedure writing, and control design
CORE COMPETENCIES
Insurance Regulatory Expertise
AI Tool Proficiency & Technical Adaptability
Leadership
Client Relationship Management
Communication Skills
Problem-Solving
Attention to Detail
Business Acumen
Documentation Review & Analysis
Regulatory Mapping & Requirements Extraction
Critical Thinking & Pattern Recognition
Process Analysis & Improvement
EXPERIENCE REQUIRED:
Regulatory Analysis & Gap Assessment Expertise
7-10 years in insurance industry with at least 5 years focused on regulatory compliance analysis, gap assessments, and control evaluations
Extensive experience reviewing and analyzing federal and state insurance regulations with ability to identify and extract specific compliance obligations
Proven track record conducting comprehensive gap analyses comparing regulatory requirements against organizational policies, procedures, standards, and controls
Experience creating detailed compliance requirement inventories, control mapping documentation, and gap analysis matrices
Demonstrated ability to identify control weaknesses, documentation gaps, and areas of non-compliance in insurance operations
Strong skills in assessing policy and procedure documentation for completeness, clarity, and regulatory alignment
Product & 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 life
Comprehensive knowledge of health insurance regulations including ACA requirements, state insurance codes, medical loss ratio rules, and network adequacy standards
Expertise in employee benefits regulations including ERISA, HIPAA, COBRA, and state-specific group insurance requirements
Understanding of annuity regulations (fixed, variable, indexed) including suitability, best interest, and disclosure requirements
Familiarity with dental, vision, disability, and other ancillary benefit regulations
Knowledge of NAIC Model Laws and Regulations, state variations, and ability to compare requirements across jurisdictions
Understanding of insurance carrier compliance obligations including form and rate requirements, market conduct standards, and consumer protection rules
AI & Technology Proficiency
Proven ability to quickly learn new AI applications and integrate them effectively into compliance workflows
Experience leveraging technology to accelerate regulatory review processes, improve accuracy, and enhance gap analysis quality
Proficiency with data analysis tools, compliance databases, regulatory intelligence platforms, or document analysis systems
Gap Analysis & Documentation Skills
Expert-level ability to review policies, procedures, standards, and control documentation for completeness, accuracy, and regulatory alignment
Proficiency in creating gap analysis matrices, compliance assessment reports, control evaluation summaries, and remediation roadmaps
Strong documentation skills with ability to clearly articulate gaps, deficiencies, and recommendations
Ability to prioritize gaps based on regulatory risk, business impact, and remediation complexity
Experience synthesizing findings from multiple sources into comprehensive compliance reports
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.