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Life & Annuity Forensic Investigator

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Date: May 1, 2019

Location: West Des Moines, IA, US, 50266

Company: Sammons Financial Group

Sammons® Financial Group’s (SFG) member companies offer some of today’s most sought after life insurance, annuity, and retirement planning products. Unlike most financial organizations, our companies are not publicly traded, which means we’re focused on long-term value rather than short-term earnings pressures. As a privately held company, our leaders and employees remain consistently focused on long-term growth, making decisions that allow us to deliver on our commitments to customers, distribution partners, our employees, and our communities. Individually, our companies provide value in the products and services they offer. Together we represent a history of strength and longevity. 

 

Here is what you can expect when you join SFG:

  • A Casual dress code which includes jeans. 
  • A rich company culture driven by private ownership and intentional leadership that inspires employees to engage in our healthy, high-performing and values based culture.
  • Healthy balance between work and personal lives.  Friday afternoons off all year long, competitive PTO and generous number of paid holidays. 
  • Great benefits including medical, dental, vision, wellness plan, charitable giving programs, education assistance… to name a few!
  • ESOP- A generous 100% company funded retirement plan. 

 

Here's what you can expect as the Life & Annuity Forensic Investigator.

The Life and Annuity Forensic Investigator will work in the Special Investigations Unit (SIU) of the Company. The Special Investigations Unit (SIU) and the Anti-Money Laundering (AML) Department are functional areas under the Financial Crimes Unit and report to the AML& Financial Crimes Officer. This position will have primary accountability for SIU duties but will have some degree of interaction and support for the other functional area outside of their primary responsibilities. The Life and Annuity Forensic Investigator will be responsible for gathering, analyzing, and documenting the information related to fraud investigations of life insurance, annuity, mutual fund products, and/or internal Company investigations. The Forensic Investigator will lead investigations on suspected fraud, questionable financial transactions, and irregular agent/policyholder business activity, along with analyzing large amounts of data for anomalies or financial crime. The Forensic Investigator will also research and collaborate in fraud prevention activities. The Forensic Investigator will assist the AML and Financial Crimes Officer with fulfilling requirements under applicable State and/or Federal regulatory reporting. This position will also lead and be responsible for medium to large scope fraud investigations, fraud initiatives, special projects, fraud risk assessments, state fraud filings, data analytics/reporting and business process improvements. Additional required activities may include a substantial level of interaction with employees during fraud training sessions performed by the Financial Crimes Team. This position has regular communication and interaction with internal business partners, employees, management.

  • Drive the process for investigative duties related to suspicious business activity to determine the predication of fraud by reviewing files and analyzing data from various internal/external sources and interviewing individuals.
  • Develop investigative plans of action for suspicious business activity and present relevant findings to senior management in a timely manner. Draft clear and concise written reports on investigative findings and also provide departmental quality control review on written reports.
  • Complete Fraud Risk Assessments as needed and present the findings to business partners and/or management.
  • Review and understand AML/fraud risks and risk management processes in order to identify and monitor the risks. Ability to develop compliant procedures.
  • Gather and analyze information, documentation, and other potential evidence (from various sources such as contract files and related information, public records, recorded calls, etc.) to support Financial Crime investigations, periodic reporting, and responses to law enforcement and regulatory agency inquiries.
  • Using needed data, develop and review data analytics driven reports and implement action (as appropriate).
  • Serve as subject matter expert on AML and/or fraud related issues within the business unit and the Company.
  • Research appropriate departmental improvements in work processes to the AML & Financial Crimes Officer and take the lead on implementing the improvement once approved. Successfully present to management as requested.
  • Analyze internal reports and conduct due diligence to identify AML or fraud activity that may require further investigation or remediation.
  • Participate in the creation of periodic reports and written communications to management. Take initiative to communicate emerging or changing AML or fraud risks and related control improvement opportunities or enhancements.
  • Track and monitor fraud trends or suspicious business activity using the agent database and business monitoring system to facilitate early detection; recommend mitigating AML/fraud prevention/detection solutions. Develop a plan outlining the mitigation solution on the AML and/or fraud risk identified.
  • Prepare weekly, monthly, and/or quarterly reports to the Anti-Money Laundering and Financial Crimes Officer on current AML/SIU trends, deficiencies, and successes. Analyze the data and make recommendations on emerging AML or fraud trends to aid in mitigating risk.
  • Maintain applicable departmental files and databases.
  • Maintain awareness of key process changes, system changes, organization structure, and key outsourcing arrangements/vendor exposure.
  • Prepare reports and respond to inquiries from State and Federal agencies. The responses should meet State and Federal reporting requirements.
  • Participate in special projects and experience studies as requested by management and /or State or Federal Agencies.
  • Assist with other duties and responsibilities of the overall AML/SIU functions.
  • Mentor others in the department to support development.
  • Take ownership of the policies and procedures manuals and make appropriate revisions to the manuals on an ongoing basis or when regulatory requirements are updated.
  • Serving as the subject matter expert, research, develop, and facilitate AML/SIU training sessions of employees/vendors and document training attendance. 
  • Review and update operating guidelines for AML/SIU procedures, including those to be implemented in specific departments and lead the testing of the newly implemented procedures.
  • Draft and submit State Fraud Referrals and/or Suspicious Activity Reports and maintain the documentation and tracking of the referrals. 
  • Have an active role in the business analysis and development on future project implementations involving AML/SIU software.
  • Demonstrate the ability to effectively conduct investigations and effectively communicate the findings to all levels of management.  

 

 

QUALIFICATIONS

  • Bachelor Degree required and Master’s Degree preferred 
  • Certified Fraud Examiner (CFE) designation with a strong experience in the investigation of fraud and/or criminal behavior
  • Fraud investigative experience with various distribution channels (Life, annuity, and Broker Dealer)
  • Proven ability to identify patterns of suspicious fraudulent activity and the intuitiveness necessary to respond accordingly
  • Strong written skills and verbal communication abilities to all levels of management.
  • Working business knowledge of life, annuity, and mutual fund transactions and products 
  • CAMS certification preferred, or the ability to obtain CAMS Certification upon hire
  • Demonstrated proficiency in Microsoft (Excel, Word, Power Point, and Access)
  • Ability to compile large amounts of data and prepare experience reports/graphs, for management review
  • Digital forensic investigative experience and knowledge preferred
  • Proficient in data analysis, data analytics, and anomaly recognition preferred
  • Forensic accounting experience preferred
  • Some travel required
  • Strong team player with excellent interpersonal skills

 

 

 


Nearest Major Market: Des Moines

Job Segment: Risk Management, Finance

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