[Hiring] Director of Compliance, Health & Benefits @WEX

Role Description

The Director of Compliance, Health & Benefits, provides leadership, direction, and integration of compliance activities to meet all relevant requirements, ensuring compliance with applicable state and federal laws and regulations that govern WEX Health’s products and services. The successful candidate will:

• Oversee the management of the Compliance team supporting WEX Health products and services, including COBRA, notional accounts, health savings accounts (HSAs), ACA compliance, and benefit administration.
• Be responsible for the compliance oversight of nonbank custodian activities, including compliance advisory, regulatory framework maintenance, Fiduciary Committee recordkeeping, management of the annual audit of books and records, compliance review and monitoring of standard reports, forms and processes, change management risk review, and supporting Legal with Custodial Agreement maintenance and changes.
• Direct the assessment of targeted compliance issues, investigations, or potential problems and proactively mitigate potential risks found through the appeals process and review of COBRA cases, coordinating with internal operations, Legal, and other teams on process changes or additional training as necessary.
• Provide proactive and timely responses to state and federal agency requests, in addition to handling any other regulatory concerns, coordinating with Legal where necessary.
• Respond to written complaints and appeals.
• Support implementation of new products and corporate compliance initiatives.
• Assist in the development and implementation of the compliance plan that incorporates the seven elements of an effective compliance program described in the Federal Sentencing Guidelines.
• Continually raise awareness of compliance, integrity, and risk issues. Review compliance-related content to be included in employee training and education.
• Communicate new and changing regulations to internal teams to allow for the incorporation of any changes into the daily processes and procedures.
• Communicate regular updates on trends and advances in legislation and regulation ensuring that knowledge and relevant information is passed to key stakeholders including senior management, WEX Health and WEX, Inc. team members, clients, and channels.
• Participate in and bring the Compliance perspective to critical situations, change management, and client/partner requests. Participate in WEX Health quarterly compliance meetings.
• Oversee the coordination of WEX Health’s TPA and broker licenses and renewals.
• Review and update WEX Health’s Enterprise Risk Management (ERM) assessment to ensure it reflects the organization’s highest compliance-related risks.
• Identify and evaluate key areas of opportunity and potential risks within legislative and regulatory updates, changes, and potential changes.
• Maintain current knowledge of industry laws and regulations, keeping abreast of recent and upcoming changes.
• Attend the ECFC Annual Conference, meeting with members of Congress and their staff to communicate desired changes in pending and current legislation that positively influence the organization's business and industry. Participate in ECFC member committees.

Qualifications

• Juris Doctor or equivalent experience.
• 10-15 years of relevant experience in Compliance, Legal, or a related position.
• Expert knowledge level in industry regulations affecting and governing all products and services offered through WEX Health, including health and welfare benefit plans, COBRA, state continuation of coverage laws, cafeteria plan/notional accounts, HSAs, the Affordable Care Act (ACA), and HIPAA.
• Experience with health, life, and casualty insurance broker licensing, U.S. privacy law, federal acquisition regulations (FARs), and Medicare Advantage plans preferred.
• Strong leadership skills, including demonstrated strength in building compliance teams/frameworks, project management, experience working on process improvement, and ability to manage multiple, conflicting priorities.
• Ability to resolve issues/conflicts and negotiate and facilitate with project groups with experience driving groups to successful completion.
• Ability to work independently, yet still be team-oriented.
• Excellent communication (oral and written) and interpersonal skills, including the ability to write clear, concise communications for employees at all levels.
• Ability to apply strong problem-solving skills and excellent judgment to make reasoned recommendations and develop practical, business-oriented solutions.
• Ability to build strong internal relationships that foster open communications and to act as a resource on compliance and risk issues.
• Ability to write reports, business presentations, policies, procedures, and operating guidelines.
• High ethical standards.
• Intellectual curiosity and ability to maintain a high level of technical expertise and keep abreast of key compliance and company developments.

Requirements

• The base pay range represents the anticipated low and high end of the pay range for this position. Actual pay rates will vary and will be based on various factors, such as your qualifications, skills, competencies, and proficiency for the role.
• Base pay is one component of WEX's total compensation package. Most sales positions are eligible for commission under the terms of an applicable plan. Non-sales roles are typically eligible for a quarterly or annual bonus based on their role and applicable plan.

Benefits

• Health, dental and vision insurances.
• Retirement savings plan.
• Paid time off.
• Health savings account.
• Flexible spending accounts.
• Life insurance.
• Disability insurance.
• Tuition reimbursement.
• And more.

Pay Range

$157,300.00 - $194,400.00