2018 Regulatory Compliance Exchange Agenda

Wednesday, March 21, 2018

10:00 am - 6:30 pm - Registration

1:30 pm - 1:45 pm - Opening Remarks

1:45 pm - 2:45 pm - General Session 1 - Market Signals: What Are The Financial Markets Telling Us Now???

The economy is inherently cyclical. While these cycles don’t necessarily repeat themselves, they usually rhyme. Understanding the forecasting ability of stock, bond and energy markets can both illuminate opportunities and serve as valuable storm warnings for business leaders. A lot of this runs counter to what people are commonly hearing in the media. In this lively and entertaining session, Peter Ricchiuti explains how to interpret the market signals.

2:45 pm - 3:15 pm - Break

3:15 pm - 4:00 pm - General Session 2 - Innovation From Within

Innovation and insurance are not exactly synonymous. How can insurance carriers innovate from within, and take control of consumer experience? Changing culture is a battle, but it is one worth fighting and winning.

4:15 pm - 5:15 pm - Compliance Roundtable Conversations

Discuss hot topics in compliance and benchmark your practices while networking with peers and industry experts in this roundtable format. Tables will be divided by topic - choose a conversation that interests you, and join in. Chimes will sound every 15 minutes, giving you an opportunity to move to another topic. 

Have a topic to request? Email cclement@limra.com or tweet it using the hashtag #RCEX.

Topics will include:

  • AML
  • Cybersecurity
  • Fiduciary Rule
  • Financial Exploitation of Vulnerable Persons
  • FINRA Issues
  • Fraud
  • NY Regulatory Environment
  • Regulatory Exams
  • Social Media
  • Suitability
  • Supervision

·       Tech & Data in Compliance

5:15 pm - 6:30 pm - Reception

Thursday, March 22, 2018

7:15 am - 8:00 am - Breakfast

8:00 am - 8:45 am - General Session 3 - Regulatory Panel

NICK GERHART, Chief Administrator Officer, FBL Financial Group Inc.

LAWRENCE KOSCIULEK, Director Regulatory Policy, FINRA

MICHAEL S. GUNST, Assistant Regional Director, Office of Compliance Inspections and Examinations, Securities & Exchange Commission

The panel of regulators will answer questions about the current regulatory environment. Please pre-submit your questions for a wide-ranging discussion of issues by emailing LIMRA’s Larry Niland at lniland@limra.com

Regulators will be announced here prior to the conference.

8:45 am - 9:00 am - Break

9:00 am - 10:00 am: Concurrent Sessions

1.1 – FBI: Fraud Beyond Identification
CHAD ESLINGER, Chief Compliance Officer, Vice President, Annuities, Life and Employee Benefits, Voya Financial;
RICK MATARANTE, Corporate Vice President, Special Investigations Unit, New York Life Insurance Company

Are you allocating more resources and time investigating and reporting fraud? Spend a little time with our industry experts to understand how they are handling fraud within their companies and walk away with some strategies and safeguards you can begin implementing in your company. Session discussion will include the following:

  •  Recent fraud trends 
  •  Current controls and tools
  •  Investigations – lessons learned during the investigation process
  •  Opportunities to share within our industry

1.2 – Compliance as Your Valued Business Partner
LISA COOPER, FLMI, AIRC, MCM, Technical Director, Corporate Compliance, Nationwide;
BARBARA FITCH, CLU, FLMI, AIRC, Chief Compliance Officer, Life & Annuity, National Life Group;
AMY FULLENKAMP, Senior Manager, Distribution Business Development, Allianz Life Insurance Company of North America;
Moderator:WENDY PROCHASKA, FLMI, AIRC, Assistant Director, Integrated Risk and Regulatory Services, Northwestern Mutual

Do your business partners view compliance as a valued business partner?   Are you used as a positive recruitment tool for new distribution partners?  Is it possible that the next generation of compliance really is collaborative, innovative, and naturally creative?   

Join us and learn:   

  •  Techniques, tactics and programs for collaboration  
  •  Tips for being a proactive, visible and accessible business partner
  •  How to ensure compliance has a seat at the table
  •  How to be known as the "value added" compliance partner

1.3 – I Spy…Components of an Effective Surveillance Program
KENNETH BRILL, Assistant Vice President, Field Compliance, MassMutual
JOSEPH DePIETRO, Corporate Vice President, Corporate Compliance, New York Life Insurance Company

Effective surveillance is a key part of Distribution Compliance. This session will allow attendees to “peek behind the curtain” to look at best practices used for producer surveillance. The speakers will provide their insight on new business, senior sales, replacements, documentation and escalation, to name a few.  

10:00 am - 10:30 am - Break

10:30 am - 11:30 am: Concurrent Sessions

2.1 – Do You Really Know Your Customer?
MAX BOLSTAD, ALMI, CAMS, Global Anti-Money Laundering and Anti-Corruption Officer, MetLife Company
ANTHONY MASELLA, Corporate Vice President, New York Life Insurance Company
LAURA PERLOTTO, Assistant Vice President & Anti-Money Laundering Officer, MassMutual Financial Group
Moderator: BRIAN LOUTREL, CIA, CFSA, Vice President, New York Life Insurance Company

Building on the FINRA KYC rule, the Beneficial Ownership / Customer Due Diligence rule goes live in May 2018.  Life insurers with affiliated broker-dealers and mutual fund companies as well as those who market variable life and annuity products have much work to do to comply with this key rule.  Learn how you can best comply with this rule from a panel of industry experts.

2.2 – Independent Distribution, Challenges & Solutions
LINDA BURM, Chief Distribution Compliance Officer Allianz Life;
JAMES CLEMENTS, Second Vice President Supervision, Ameritas Life Insurance Corp;
DAVID WOLFE, Advisor’s Excel
Moderator: GISSOU GOTLIEB, Field Suitability & Compliance Officer, Ann Arbor Annuity Exchange.

Join us for a discussion on the evolving role of the independent distribution intermediaries, lessons from the fiduciary rule, and what lies ahead for independent distribution and their industry partners.

2.3 – Risk Based Supervision in the Digital Age
MICHAEL BILS, Corporate Vice President, New York Life Insurance Company;
BRANDON M. O'HARA, Mgr, BD & IA Compliance, General Counsel's Office, Thrivent Financial;
Moderator:ZACHARY RIGDON, J.D., Corporate Vice President, New York Life Insurance Company.

Join us to discover the evolution from compliance-based supervision to risk-based supervision.  Unlocking data within common fact patterns will reveal your next compliance problem.  In this workshop, we'll explore:

  • Offsite, risk based supervision models
  • Narrative versus static supervisory questions
  • Forward-looking training designed to mitigate future risk

2.4 – Recognizing Financial Exploitation – a Regulatory and Ethical Imperative
LAWRENCE KOSCIULEK, Director, Regulatory Policy, FINRA
EBONY PHILLIPS, Director, Elderly Protective Services, Governor's Office of Elderly Affairs, State of Louisiana
MICHELE KRYGER, Elder and Vulnerable Client Care Officer, AIG Life & Retirement, U.S.
Moderator:PAUL S. HENRY, Corporate Vice President and Managing Director, LIMRA LOMA Secure Retirement Institute

Recognizing financial exploitation of seniors and other vulnerable people has become more important than ever before, as losses of $3 billion annually demonstrate. Over the last two years, financial services firms have made substantial investments to ensure their advisors are prepared for the new era in which they are expected to always put their clients' best interests first. They must conform to high standards of both ethical and prudent behavior, though some of their clients, due to age and circumstance, could put their firms - even the adviser themselves - at significant risk.

In this session, you'll learn about this growing issue and common types of exploitation, discuss the evolving regulatory environment, and hear about steps being taken by firms to successfully protect vulnerable clients.

11:30 am - 1:00 am - LUNCH

1:00 pm - 2:00 pm: Concurrent Sessions

3.1 – I’ve Never Met Them in Person
PAUL GREENE, Pacific Zone Underwriting Officer, New York Life;
KIM LANCASTER, FLMI, FALU, ACS, Vice President, Underwriting Operations, RGA Reinsurance Company;
SCOTT GRANDMONT, FALU, FLMI, ACS, Vice President, Underwriting Solutions, RGAx, LLC;
WILL MOORCROFT, Second Vice President and Chief Compliance Officer, Phoenix;
Moderator: WENDY PROCHASKA, Assistant Director, Annuity Compliance, Northwestern Mutual.

The ease of doing business electronically has shifted the way agents desire to do business.  Face to face sales may no longer be the norm as agents push to expand their geographical reach and broaden their client base.  This session will identify and examine:

  • How agents are using Skype or the telephone to solicit insurance
  • The potential risks associated with non-face to face sales
  • Solutions companies can take to mitigate risk

3.2 – Risky Business
MATT CLEGG, Compliance Director, Sun Life and Health Insurance Company;
KEVIN HENRY, Assistant Vice President - Consumer Affairs, Federal Reserve Bank of St. Louis
Moderator: EVAN BALDWIN, Vice President, Prudential

Effective compliance risk management underscores an organization’s commitment to integrity, business practices and business conduct for the benefit of customers, employees, the insurance company and the public. Compliance Risk Assessments are a tool to protect organizations from financial, legal, regulatory and reputational harm.

  • Learn reasons why insurance companies conduct compliance risk assessments
  • Understand the Three Lines of Defense framework to define compliance and risk management roles and responsibilities
  • Apply the risk assessment methodologies to your compliance risk
  • Key control identification and compliance testing to validate control effectiveness

3.3 – What Are You Trying to Say? Making Your Marketing Materials More Effective

GINA CRISTALLO, JD,  Corporate Vice President, Head of Sales Material Review and Life Products, New York Life Insurance Company
TED NEWTON, AIRC, Assistant Vice President, MassMutual Financial Group 
Moderator: SCOTT KALLENBACH, Director, Strategic Research, LIMRA.

Using everyday language helps your customer understand your message better and feel more confident in taking the next step. Being purposeful with your disclosure – how much you say, how you say it, and where it appears – is a critical component in this effort. This panel will discuss the regulatory and oftentimes self-imposed challenges of revising your company’s marketing materials to (as stated by surveyed consumers) “keep language simple and succinct,” “make it easier to understand” and “make sure we know what we’re buying” – all in an effort to better connect with your customer.

2:00 pm - 2:15 pm - Break

2:15 pm - 3:15 pm: Concurrent Sessions

4.1 – Proactive Analytics for Sales Practices Review
SATISH LALCHAND, Deloitte Transactions and Business Analytics LLP

 Monitoring leveraging data analytics is useful in detecting or predicting potential threats to an organization such as sales practice misconduct, fraud and abuse.   These techniques may be also applied proactively in the sales review process to provide the analytical foresight into existing and emerging issues.  In this session, Lalchand will provide an overview of analytics and insight on why and how a compliance professional may effectively use data analytics in the sales practices monitoring and review processes.

4.2 – You Want to Do What? Supervising Outside Business Activities
DAVE LONG, Corporate Vice President - Compliance, New York Life
GREGORY D. TEESE, Senior Vice President, Compliance, Chief Compliance Officer, Equity Services Inc.
JAY WILLIAMS, Vice President, Chief Compliance Officer, OneAmerica
Moderator:JEFF SCHLOEMER, Director, Enterprise Compliance, Northwestern Mutual

 Their OBA becomes your Firm’s OBA!

  •    What risks are associated with OBAs?  
  •    What are the key requirements to supervising them?
  •    How do you review and approve them? 

Come hear from a diverse panel as they discuss effective practices for designing and implementing supervisory systems and controls to mitigate the risks associated with OBAs including a discussion on common OBA requests made by the field. 

4.3 – What Does Innovation Really Mean?
LEILANI BLOOMQUIST, Marketing & Customer Engagement Manager, Securian Financial Group;
ANN FARLEY, Assistant Vice President, Innovation Management, Pacific Life;
Moderator: NANCY HILL, Vice President, Compliance, Pacific Life Insurance Company

Keeping up with the innovation initiatives in your company presents opportunities and challenges.  Now you are being asked to innovate within your department at the same time. Hear from top Innovation Officers how you too can be supportive and be an innovative thought-leader within your organization.

  • Innovations is at the heart of a customer centric organization
  • Innovation and Compliance – How they complement one another
  • What does your innovation tool box look like?

4.4 – Operationalizing Your Fraud, AML and Cyber Programs for Efficiency and Effectiveness
GINA JONES, Chief Financial Crime Officer, AXA;
VICKI LANDON, CAMS-Audit, FLMI, CFCS President, Landon Associates Inc.
KEITH SCHROEDER, Assistant Vice President and Compliance Officer, Chief Anti-Money Laundering Compliance Officer, Chief Privacy Officer and Assistant Corporate Secretary for the American-Amicable Life Insurance Company of Texas

With cybercrime, fraud, and money laundering on the rise, regulators are expecting insurers to increase effectiveness in detecting and deterring these illegal activities.  In this session, you'll see  how companies are operationalizing fraud, cyber, and AML programs, and are using data, processes, and tools to protect their companies, clients, and the U.S. financial system from ever-evolving criminals. Compliance officers from two disparate companies and an AML auditor will talk about programs that work, strategies for cross-silo cooperation, and ways to achieve more without necessarily increasing budget.

3:15 pm - 3:45 pm - Break

3:45 pm - 5:00 pm: Concurrent Sessions

5.1 – Compliance Innovation Lab

Many companies in our industry have insurance think labs, designed to come up with creative ways to improve how we design, develop, market and sell insurance. What are we doing to create innovative opportunities in our compliance departments to solve problems and reduce risk? 

Participants in this hands-on working lab session will first learn some simple innovation frameworks to take back to their teams, and then will put those tools to work immediately. Working collaboratively in small groups, attendees will choose a common compliance problem and create innovative solutions that just might make a breakthrough difference.

5.2 – No Questions Left Unanswered
Moderators: TED NEWTON, AIRC, Assistant Vice President, MassMutual Financial Group
DOMINIC RUSSO, Chief Compliance Officer, Insurance Products & Services, Penn Mutual Life Insurance Company

This is your chance to get all of your questions answered, in an “unconferenced,” interactive, peer-to-peer conversational session. Hosted by members of the LIMRA LOMA Regulatory Compliance Committee, you’ll have opportunities to submit your questions, both before and during the session, and draw upon the power of the crowd to get answers.

Any questions left unanswered after this session will be sent out in a post-conference survey, with results shared with participants, so there will truly be no questions left unanswered

5.3 – Small Company Session

Join this lively discussion intended specifically for those in small life insurance companies, broker-dealers, and subsidiaries of larger companies. In this session, participants will discuss how to meet the demands posed by increasing compliance responsibilities - even as resources shrink.  Attendees will have the opportunity to see how their practices compare to peers' using the anonymous polling capabilities of the conference app. Those who register for this session will be contacted in advance of the conference to submit topics for discussion.

5:00 pm - Enjoy New Orleans! (On your own)

Friday, March 23, 2018

7:15 am - 8:00 am - Breakfast

8:00 am - 9:00 am - General Session 4 - A New York State of Mind

Insurers doing business in New York are seeing an increase in regulatory initiatives from the New York Department of Financial Services (NY DFS). These initiatives are unique to New York and cover a range of topics including standard of care, cybersecurity, non-guaranteed elements, fee-based annuity products, and use of big data in life underwriting. A panel of experts will provide their perspective, tips for addressing their developments and best practices in partnering with the NY DFS to successfully implement these and other new regulatory challenges inside your company.

Craig Friedman - Senior Manager, Deloitte & Touche LLP

Diane Stuto - Managing Director, Legislative and Regulatory Affairs, Life Insurance Council of New York

9:00 am - 9:15 am - Break

9:15 am - 10:15 am - General Session 5 - Cyber Security: The Role of Compliance in a Constantly Changing World

Regulatory expectations in the cybersecurity world have grown significantly with the NYDFS Cyber Rule and the NAIC Model Cyber Act.  The role of compliance will be critical in ensuring that life insurers comply with the many regulatory requirements.  Learn from a panel of experts and through case studies about the new regulatory requirements, including their impact on life insurance agents, and how the go about making sure that their firms are in compliance.

Judy Hopkins - Head of Legal, Haven Life Insurance Agency, LLC

Brian Loutrel - Vice President, Chief Privacy Officer and Chief Ethics Officer, New York Life Insurance Company
Anti-Money Laundering Compliance Officer, New York Life Insurance Company, New York Life Insurance and Annuity Corporation, and NYLIFE Securities LLC

10:15 am - 10:30 am - Break

10:30 am - 11:15 am - General Session 6 - What's an Ethical Culture, Why It Matters, and What It Takes

An ethical culture is one where people do the right thing, not only what’s legal and required. It’s often easier to focus on compliance than ethics. But ethics is what builds a company’s reputation and helps it succeed in the long run. In this session, we’ll explore what it means to have an ethical culture, why it matters, and what it takes to have one at your company.


Caveni Wong, MBA, CCEP - Principle Compliance, Inc.

11:15 am - Adjournment