Product Management - Newark (NJ), NJ | Hartford, CTPolicy Compliance Specialist - Life Insurance
About the position
For over 100 years, Prudential’s diverse and talented employees have been committed to helping customers and their families grow and protect their wealth through a variety of products and services. We are known for delivering on our promises and are recognized as a trusted brand and one of the world’s most admired companies.
The Contract Specialist is part of the Product Solutions team in the Individual Life Insurance organization. Our group is responsible for drafting policies that are in compliance with regulatory, product and business requirements. We work with Product, Actuarial, Legal and other areas to ensure products are filed and approved with the Compact and non-Compact jurisdictions in a timely and accurate manner. Members of our team are located in both Newark, NJ and Hartford, CT.
The Contract Drafter will report to the Director of the Contract Drafting team and is responsible for ensuring contract compliance for new development and in-force state-filed documents while supporting internal partners and coordinating contract development with cross functional project leads. This includes drafting contracts, riders, endorsements, amendments and other state regulated forms, defining requirements and providing oversite and quality checks of contract specialists work. Additional responsibilities include:
Draft legally defendable contracts, amendments, endorsements and riders that comply with applicable laws and regulations and meet the product design and marketing needs for new and in-force products
Prepare documents to support changes for in-force business which includes the development of non-standard language
Perform regulatory monitoring and identify regulation changes that impact contract language for new and in-force products
Prepare and submit documents to state insurance departments and the Interstate Compact for approval
Coordinate with internal partners to develop technical responses to state department inquiries and may review Contract Filer’s response prior to submission
Responsibilities may include workflow coordination, responding to regulator questions, training new associates and special projects
3-6 years of relevant experience drafting and state filing of life insurance or annuities
Product and Compliance knowledge of the life insurance or annuity product line of business is required
Bachelor’s degree is preferred
Strong communication and presentation skills
Exceptional collaboration skills and ability to partner with a wide variety of other functions and levels, including Product, Service, IT, Control and Actuarial functions
Clear and concise verbal and written communication skills; ability to understand, explain and write complex technical material
Must have solid organizational skills with the ability to develop and execute plans
Ability to effectively manage and prioritize several dissimilar deliverables
Capable of working independently and as part of a team
Proficient in Word and Excel
Experience working with SERFF
What you’ll need to succeed:
It’d be a plus if you have:
Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.
We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.
Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status, or any other characteristic protected by law.
Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at email@example.com for more information about doing business with Prudential.