2017 Compliance Fundamentals Training Conference
April 18, 2017April 20, 2017
CEFLI recently conducted its 2017 Compliance Fundamentals Training Conference at the Hilton O’Hare Hotel in Chicago, Illinois on April 18-20. CEFLI offers its Compliance Fundamentals Training Conference annually as part of CEFLI member company benefits to provide an educational and training opportunity for those who may be new the life insurance industry or who may be seeking to expand their portfolio of current compliance skills. CEFLI was very pleased to have the opportunity to attract an outstanding faculty of regulatory and company representatives who offered unique insights into key elements necessary to work effectively as a compliance professional in a life insurance company.
The Conference began with a session to provide an overview of the various types of life insurance and annuity products offered by life insurance companies. Rebecca Hemmings of CEFLI Affiliate Member law firm Locke Lord, LLP provided an excellent overview of the various life insurance and annuity products currently offered by life insurance companies and described the distinctions between the state and federal regulatory oversight associated with specific product types.
The Conference attendees then learned about the state insurance regulatory examination process from a regulatory and a company perspective. Michael Rohan, Deputy Director of the Illinois Department of Insurance joined Kathy Donovan from CEFLI Affiliate Member Wolters Kluwer Financial Services to provide insights regarding the basic elements of a market conduct examination of a life insurance company as well as examples of reported regulatory violations identified by various state insurance departments.
To balance the regulatory view of the market conduct examination process, Conference attendees also heard perspectives from three company representatives who offered excellent, practical insights on how to assist regulators in conducting market conduct examinations in an efficient manner.
The Conference also introduced attendees to the importance of establishing strong working relationships with compliance colleagues and other business partners in order to be effective as a compliance professional. To reinforce these concepts, the Conference included sessions to review ways to work effectively as a “team” within a compliance department and to explore strategies to promote sound working relationships with representatives of other company functional areas such as sales and marketing.
Additional sessions were devoted to more in-depth analysis of selected compliance issues including producer licensing and appointment, complaint handling, replacement, suitability and advertising review. In all instances, the Conference attendees were the beneficiaries of excellent insights offered by an outstanding faculty of industry “thought leaders.” As a result, the 2017 Compliance Fundamentals Training Conference received overwhelmingly positive feedback from the Conference attendees.
All presentations from the 2017 CEFLI Compliance Fundamentals Training Conference are available for use by all member companies via CEFLI’s website.
CEFLI welcomes the opportunity to provide these types of education and training opportunities for compliance professionals across the life insurance industry. We hope you may be able to join us for the 2018 CEFLI Compliance Fundamentals Training Conference.