Simplify Logo

Full-Time

Compliance Director

Posted on 7/15/2024

Bestow

Bestow

201-500 employees

Digital platform for life insurance solutions

Fintech
Financial Services

Compensation Overview

$115k - $135kAnnually

+ Equity

Expert

Dallas, TX, USA

Category
Risk & Compliance
Legal & Compliance
Required Skills
Communications
Requirements
  • Bachelor’s Degree or equivalent experience required (Master’s preferred)
  • 10-15 years of life insurance, legal and/or compliance industry experience
  • Continuing progress toward or completion of insurance compliance certifications such as CCEP, CCP, FLMI, ALMI, AIRC, or CLU
  • Experience with leading a compliance program
  • Experience with leading a testing and auditing program
  • Excellent written and oral communication skills
  • Ability to work both independently and in a team environment with compliance and business personnel
  • Strong partnering skills and ability to think creatively
  • Ability to manage multiple projects with minimal to limited supervision
  • Highly organized and pay close attention to detail
  • Proficient with Google Apps, Zoom, JIRA, and online chat/communication tools
Responsibilities
  • Ownership of the compliance testing and auditing programs
  • Facilitate the review of state and federal regulatory compliance requirements
  • Advise on and anticipate strategic and tactical regulatory solutions
  • Work with the Deputy Chief Compliance Officer to identify and advise on compliance action plans
  • Develop third-party risk assessments
  • Assist with implementing appropriate strategic/tactical solutions for compliance business requirements
  • Assist with the continued enhancement of the compliance program and compliance policies
  • Assist with the monitoring and management of regulatory requirements and reports
  • Ownership of issues and problems, helping to develop risk-based recommendations for solutions
  • Help oversee compliance adherence through self-assessment programs and coordination of regulatory examinations

Bestow offers a digital platform for purchasing life insurance, focusing on making the process quick and easy for individuals. Their technology streamlines the application process using advanced underwriting methods, allowing most applicants to receive instant decisions. Bestow's software covers the entire insurance lifecycle, which helps reduce costs and enables the rapid launch of new products. They also utilize data solutions to enhance customer data for better marketing strategies and audience targeting. Unlike traditional insurance companies, Bestow prioritizes a user-friendly experience and affordability, with coverage starting at $11 per month. Their goal is to provide accessible life insurance while maintaining high customer satisfaction, as evidenced by their excellent ratings and A+ Better Business Bureau score.

Company Stage

Series C

Total Funding

$177.5M

Headquarters

Dallas, Texas

Founded

2017

Growth & Insights
Headcount

6 month growth

4%

1 year growth

4%

2 year growth

-2%
Simplify Jobs

Simplify's Take

What believers are saying

  • The acquisition by Sammons Financial Group could provide Bestow with additional resources and stability for growth.
  • Partnerships with major players like Transamerica enhance Bestow's market reach and technological capabilities.
  • Recognition as a top workplace in financial services and insurance highlights a positive company culture and employee satisfaction.

What critics are saying

  • Layoffs and partner challenges indicate potential instability and strategic misalignment within the company.
  • The competitive landscape of digital life insurance is fierce, with new entrants and traditional insurers enhancing their digital offerings.

What makes Bestow unique

  • Bestow leverages advanced underwriting technology to expedite the insurance application process, offering instant decisions, unlike traditional insurers.
  • Their data-driven approach to audience segmentation and marketing optimization sets them apart in the life insurance industry.
  • Bestow's digital platform simplifies the entire insurance lifecycle, from origination to administration, providing a seamless user experience.

Benefits

Competitive salary

Equity

Annual bonus based on company and individual performance

Flexible PTO plan

Medical, dental, & vision insurance

Paid parental leave

Annual lifestyle spending account

Flexible work-from-home policy

Learning & development opportunities

INACTIVE