The Connection Magazine AIM MUTUAL Fall 2019 - Page 7

disciplines; however, we have opportunities to improve and tighten the processes to do an even better job. By definition, the nature of compliance work demands close attention. It’s no secret that the insurance industry is heavily regulated at both the federal and state levels. As we all know, new laws are written frequently, and existing laws are often modified. Since our company has a presence in five states with the potential for further growth, it is important to have a dedicated person to stay informed. That’s the role of our Compliance Manager, who collaborates with key stakeholder employees to ensure industry standards are promptly met. Compliance and the Bottom Line Compliance has a positive impact on every company’s bottom line and protects the organization. If a company is proactively monitoring its processes, writing new policies, and staying up to date on legislative changes, it can work to get ahead of potential fines. It preserves an organization’s reputation. Time is of the essence with compliance. The clock starts ticking upon discovery of a potential issue. With a designated Compliance Manager, employees have an in-house resource where they can express any compliance concerns. If employees feel comfortable reporting errors or asking questions about how to better comply, they are more likely to bring forward that information instead of holding on to it. Early detection serves the entire organization well. A successful compliance program meets four objectives. It: 1. Identifies opportunities for improvement; 2. Encourages employees to work collaboratively to solve the puzzle of how to comply; 3. Develops a plan; and 4. Monitors the plan to ensure there’s the right fit for complying—one that works well for the company, its culture, and its employees. A well-executed compliance program gives companies a competitive edge. At A.I.M. Mutual, it helps us stay on top of legislation that impacts our business. At the same time, we are centralizing previously decentralized processes, implementing changes on a timely basis, and providing an additional, trusted resource. It’s one more way we demonstrate our core commitment to “doing the right thing” and enhancing our culture in the process. ROBIN D’ERI ROBIN D’ERI, CPCU, APA, CIPA, AIC, is the Premium Audit Manager for A.I.M Mutual Insurance Companies. Previously, she worked with Energi Insurance Services as an Assistant Vice President of premium audit and has also been a Senior Field Auditor with State Farm. Robin has over 20 years of experience in the insurance industry. JODI WILLIAMS JODI WILLIAMS is Compliance Manager for A.I.M. Mutual Insurance Companies. Previously, she was A.I.M. Mutual’s Residual Market Underwriting Specialist. She has a background in risk management, compliance, and data analysis. She also served on the Board of Directors for a Massachusetts-based workers’ compensation self-insured group. 7