Under minimal supervision, provide experienced legal services and advice to pension risk transfer unit on new annuities product development initiatives; counsel pension risk transfer unit on the development of advertising, sales and producer training materials, and new and innovative marketing concepts; oversee all required regulatory filings and interactions associated with pension risk transfer undertakings including product filings and questions regarding the same; and work closely with corporate business partners in a team environment from product concept to product launch on issues impacting the pension risk transfer business.
Provide legal advice and legal services to the pension risk transfer unit on all aspects of group annuity transactions including administration thereof.
Draft and negotiate contract terms, group annuity contracts, definitive commitment agreements and administrative services agreements.
Draft and review benefit specifications and forms of group annuity contracts.
Advise on the factors considered by independent fiduciaries in determining whether an insurer’s group annuity contract meets the “safest available annuity” standard.
Ensure compliance with insurance regulatory requirements and obtain necessary regulatory approvals with respect to the group annuity contracts (and related annuity certificates).
Work with internal disciplines including investments, treasury, actuarial, structured finance, etc. in support of pension risk transfer transactions.
Assist, as needed, in due diligence and document review and preparation processes in connection with transactional matters.
Research and analyze legal issues and questions using appropriate resources.
Maintain regular and predictable attendance.
Other projects as assigned.
Required: • Law degree from a United States accredited law school. • Bachelor’s Degree from accredited university or college. • Licensed to practice law in at least one U.S. State. • 6 to 10+ years’ experience as an attorney in a law firm or in a corporate legal function. • Business, finance or accounting degree or experience; working knowledge of concepts, terminology and practices.
Preferred: • Transactional experience in a deal team setting with focus on U.S. based pension risk transfer group annuity issuances.
Skills Required: • Experienced, senior-level knowledge of U.S. insurance laws and regulations related to pension risk transfer transactions. • Working knowledge of annuities, including the state insurance and federal securities laws related to those products. • Working knowledge of annuities operations and related legal and contractual requirements. • Experience providing legal advice in connection with customer and regulatory inquiries, and interacting with regulators. • Substantial and experienced knowledge of legal and contract terminology and methods; general business and financial knowledge. • Experienced ability to identify and interpret business and contract issues. • Experienced client counseling skills in translating business needs and problems into viable and accepted solutions. • Excellent client service and interpersonal skills, with continual focus and dedication to high level of client service. • Excellent skills with respect to drafting, review, proofreading, negotiation, persuasion, and oral and written communication. Demonstrated ability to clearly present appropriate business terminology and concepts. • Serve clients and provide legal services and advice at a level commensurate to a senior associate or junior partner in a law firm. • Highly organized and results oriented with strong attention to detail. • Seasoned time management skills and commitment to meet deadlines. • Ability to set goals, multitask and prioritize workload to deliver results on a timely basis. • Ability to be flexible when needed, take initiative, and demonstrate accountability. • Ability to interact and work collaboratively and constructively with people at various levels within and outside the organization. • Ability to work well within a team environment and participate in department/team projects. • Ability to maintain a high level of confidentiality. • Committed to acquiring new skills and knowledge of changing technologies and practices. • Proficient knowledge of Word applications with an ability to develop and maintain document automation templates, acquire new skills, and knowledge of changing technologies.
Reinsurance Group of America, Incorporated (NYSE: RGA) is one of the largest global providers of life reinsurance, with offices around the world. RGA delivers expert solutions in individual life reinsurance, individual living benefits reinsurance, group reinsurance, financial solutions, facultative underwriting, and product development. Our mission is to enhance our clients’ prosperity by supporting their financial and risk management capabilities.